1. Affiliate Institutions
2. Global Network
3. Program Offered
4. Objectives
5. Coverage
6. Focus
7. Financial Services
8. Format
9. Eligibility
10. Duration
11. Structure
12. Subject-wise Waivers
13. Career Prospects

The Institute of Chartered Financial Analysis of India (ICFAI) was established in 1984 with the objectives of imparting world-class training in finance and management to students, working executives and professionals in India. ICFAI launched the CFA Program in 1985 with a state- of –the –art course design and curriculum.
Over the years, the CFA Program received overwhelming response from a wide cross section of students, professionals, and working executives. Currently, there are 1500 CFAs who successfully completed the CFA Program of ICFAI and received the CFA Charter. ICFAI has been instrumental in developing a new cadre of finance professionals in India.

Uniqueness
The CFA Program is unique in that it addresses the boarder financial and managerial issues in the areas of Corporate Finance, international Finance, Investment, management and Financial Services.
Affiliate Institutions

ICFAI sponsored, nurtured and helped the establishment of the following academic institutions, which have now emerged as centers of excellence.

• Icfaian Business School
• Icfaian Transworld University Center
• Icfaian Center for Information Technology

The above three institution are now managed by an independent non-profit society, the Icfaian Foundation.

Global Network

ICFAI has established close networking relationship with leading educational institutions and professional bodies across the world. ICFAI represents India in the Asian Securities Analysts Federation (ASAF) based in Society in Study, Australia. ICFAI is a member of international Council for Open and Distance Education, Oslo, Norway.
Program Offered

The CFA offered by ICFAI has been developed and is constantly reviewed in the context of the present and future needs of the corporate sector, the investment industry and the financial services sector. The CFA is different in design, structure, scope, content and examinations from the CFA Program offered by the Association for Investment Management and Research (AIMR), United States.

Objectives

The CFA Program is a postgraduate professional program with the following broad objectives

• To impart through knowledge of concept in Corporate Finance, International Finance, Investment Management and Financial Services
• To deepen insight into practical application of financial analysis in a dynamic business environment
• To develop appreciation of the interface between financial analysis and other areas like economics, management, investments, financial markets, international finance, financial services and corporate strategy
• To encourage future finance professional to equip themselves with the latest IT tools and techniques
• To develop a new body of knowledge, skill-set, and make them available for those seeking challenging careers in the new era of Liberalization and Globalization

Coverage

ICFAI visualize the body of knowledge of the CFA Program as converting three inter-related areas.The core body of knowledge: Specialized fields and skills, which are essential to business and its orderly functioning.

The evolving concepts, techniques and strategies; Debated and tested by researchers and practitioners but not yet understood well enough to be included in the core areas. The frontiers, the newest ideas, speculative and often controversial, but offering the promise of practical insight into the process of analysis, and decision –making.

Approach
The CFA Program follows distinctive but inter-related approaches. Theoretical studies aimed at improving candidates understanding of certain fundamental phenomena and relationships underlying the changing world. Applied studies linking the theoretical studies to the practical problems faced by managers.

Exposure
Practical exposure to industry practices takes place through a variety  of activities like training under practice, school program, project work, management  development programs, seminars, conventions etc.

Perspective
Global perspective to business by encouraging the candidate and be exposed to the international business environment and practices.

Orientation
IT Orientation by providing high-end training frontier areas of information technology like enterprise resource planning.

Focus
The CFA Program has four focus areas; Corporate Finance, International Finance, Investment management and Financial Services.
Corporate: In the CFA Program, Corporate finance is dealt with in great depth in terms of providing necessary conceptual and technical inputs.
International Finance: This subject is dealt with through an extensive coverage of the foreign exchange markets, exchange rate mechanism, exchange and financial dimension of international risk and hedging techniques.
Investment management: being quit complex and set in a dynamic environment, is default with in the CFA Program at an expert level.
Financial Services

This Subject is dealt with an extensive coverage of merchant banking, project planning, venture capital, leasing, hire purchase, factoring, new issue management, credit rating and other allied areas like corporate advisory services etc.
Ethical focus aimed at inculcating in the candidates an ethical approach in their professional interactions and a sense of personal, corporate, and social responsibilities. Thus, a candidate who successfully completes the CFA Program attains an expert’s level of knowledge in all areas of finance.

Professionalism
Candidates looking for a long term career as finance professional can work in the industry (corporate/financial services/banking sector) or to set up independent Practices / consulting firm.

Professionals like Chartered Accounts, Cost Accountants, Company Secretaries who are keen on building a hard core financed career or those who are interested in updating themselves in finance, MBAs and other management professionals who would like to specialize in finance or would like to have a strong grounding in finance which would help them in  performing their general management function better.

Graduates interested in building a career in finance can opt for it.Finance will be of immense help to candidate pursuing full-time program in management.Working executives seeking enhanced career mobility and prospectus in the area of finance will find it worthwhile. It is a good-sent opportunity for the Banking professionals who want to brush up their knowledge. Academicians and those in the teaching profession who are keen to update their knowledge in the areas of finance will find it more useful

Format

The CFA Program is offered on a distance-learning basis through study and examination in the following two formats
The regular CFA Program (3 years)
The Accelerated CFA Program (2 years)
Eligibility

Graduates from any discipline with 50 per cent above marks and a minimum of 18 years of age are eligible to enroll in the CFA Program, apart from Chartered Accountants, Cost Accountants and Company Secretaries. Candidate of the regular CFA Program are eligible to appear for the examinations in the following pattern.

Level 1
Any one group, after three months from the date of enrolment
Any two groups, After six months from the date of enrolment
All the groups, after nine months from the date of enrolment.

 Level 2 and 3
Any one group, after six months from the date of entry into the respective level.
Both the groups, after twelve months from the date of entry into the respective level.

Duration

The regular CFA Program may be completed in a period of three years. The Accelerated CFA Program may be completed in a period of two years through study and examinations.

Validity
The candidate is required to complete CFA Program consisting of the three, levels within a maximum period of seven years from the date of enrollment. They are also required to complete Level 1 of the CFA Program within three years from the date of enrollment. Candidates, who are unable to complete the program within the time frame, but still keen on continuing in the program, are required to register themselves.

Structure

The CFA Program is divided into three levels, i.e. 1, 2 & 3. After completing level 1, the candidate will be admitted into level 2. After completing level 2, they will be admitted into the level 3. The candidate of the regular CFA Program will be required to study and complete the three levels in a sequential manner.
Subject-wise waivers

Candidates with prior professional qualification like CA/CWA/CS are eligible to get waivers from certain subjects in level 1 of the CFA Program as follows:-

Subject:
Eligibility for waiver:

• Financial Accounting

CAs/CWAs

• Management Accounting

CAs/CWAs
          

• Economic Legislation

CAs/CWAs/CSs

Career prospects

CFAs can seek exciting career opportunities in several fields. The economic liberalization and globalization have become twin engines of growth. In this new era, adequately trained and qualified finance professionals have promising prospectus in the corporate sector and the financial services industry. Following are the existing fields, which the CFAs can choose