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[CIPM][CFA] cipm-webinar.pdf

Pan Zhang
Pan Zhang

The document provides an overview of the Chartered Investment Performance Measurement (CIPM) program from CFA Institute. It discusses the program's vision and audience, which includes performance evaluation specialists, portfolio managers, and assurance professionals. The exam consists of principles and expert levels testing performance measurement, appraisal, attribution, and selection skills. Benefits of the CIPM designation include acquiring technical expertise, career advancement, and participation in a global community of investment professionals committed to integrity and excellence.

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CIPM PROGRAM 21 March 2017 Thomas Porter Head, CIPM Program, CFA Institute Bobby Lamy, Ph.D., CFA Head, Practice Analysis, CFA Institute Steve Horan, Ph.D., CFA, CIPM Managing Director, Credentialing, CFA Institute
CIPM PROGRAM OVERVIEW 2 Contact: CIPM@cfainstitute.org
3 To lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. CFA Institute Mission To advance the CFA Institute mission by promoting ethical standards and best practices in investment portfolio evaluation. CIPM Program Vision
Learn more about the CIPM program at www.cfainstitute.org/cipm Optimize investor results Drive smarter, more informed decision-making CIPM PROGRAM 4 Ethical and Professional Standards 15% Ethics 15% Reporting Standards 70% Performance Evaluation 10% Manager Selection 20% Appraisal 20% Attribution 20% Measurement INVESTMENT PERFORMANCE AND RISK EVALUATION 30%
THE CIPM PROGRAM AUDIENCE 5 Portfolio Managers Performance Evaluation Specialists Entry-level analysts (research, quantitative, performance, portfolio) Department heads Assurance Professionals Risk analysts & managers Compliance officers Manager Selection Consultants Institutional investment consultants Financial advisors, accountants
TOP CIPM PROGRAM CANDIDATE ROLES 6 APRIL 2016 EXAM ADMINISTRATION 25% 11% 6% 6% 6% 10% 5% 4% Top 8 Roles Comprise 73% of CIPM Candidates Manager of Managers Research Analyst Investment Analyst Quantitative Analyst Performance Analyst Consultant Accountant/ Auditor Financial Advisor/ Planner Portfolio Manager Risk Analyst/ Manager
GEOGRAPHIC PROFILE OF CIPM CERTIFICANTS 7 NORTH AMERICA 68% LATIN AMERICA 1% EUROPE 18% AFRICA/ MIDDLE EAST 3% ASIA PACIFIC 10%
Computer-Based Testing (CBT) Expert Exam Principles Exam 8 400 local test centers in 80 countries Exam windows March and September 100 multiple-choice questions 20 item sets, each containing 4 multiple-choice questions CIPM EXAMINATIONS
9 Program Overview 2016-2017 CIPM速 PROGRAM Professional/ graduate level Pricing (US$) December 2016 Timeline or Registration period Early registration deadline Schedule for the exam Sit for the exam Exam results Sept 2017 1 Apr31 Jul 2017 31 May 2017 1 Apr23 Sept 2017 1630 Sept 2017 Early Nov 2017 March 2017 1 Oct 2016 31 Jan 2017 30 Nov 2016 1 Oct 2016 23 Mar 2017 1631 Mar 2017 Early May 2017 enrollment fee $0 early registration $575 first-time candidate $975 returning candidate $500 or EXAM SCHEDULE AND PRICING OVERVIEW Professor / Regulator Scholarships available
Pass both the Principals and Expert exams CIPM ASSOCIATION 10 Pay annual dues CIPM Association Regular Member: US$275 US$50 for CFA Institute members Satisfy the Mandatory Continuing Education Program 45 credit hours over a three-year cycle TO BECOME A CIPM CERTIFICANT AND USE THE CIPM CREDENTIAL: Become a member of the CIPM Association Complete the professional experience review To qualify for membership in the CIPM Association, you must have accrued either: Two years of professional experience in performance-related activities, OR Four years of professional experience in the investment industry
CIPM PROGRAM 11 From the April 2016 Candidate Survey https://cfainstitute.org/programs/cipm/Documents/cipm_candidate_survey.pdf
CIPM PROGRAM CURRICULUM 12 Bobby Lamy, Ph.D., CFA Head, Practice Analysis, CFA Institute CFA Institute
CFA PROGRAM AND CIPM PROGRAM 13
14 Performance and Risk Appraisal Is the managers performance due to skill or luck? Performance and Risk Attribution Why did the portfolio produce the observed performance? Performance and Risk Measurement What was the portfolios performance? Manager Evaluation/ Search and Selection Evaluating performance in order to select managers Ethics & Professional Standards INVESTMENT PORTFOLIO EVALUATION INVOLVES
CIPM PROGRAM TOPIC AREA WEIGHTS 15
Performance Attribution Performance Measurement Performance Presentation and GIPS Standards Performance Appraisal and Manager Selection 16 Ethical Standards Knowledge/Comprehension Application/Analysis Synthesis/Evaluation PRINCIPLES EXPERT Ethics Ethics INVESTMENT PERFORMANCE EVALUATION PROCESS
HEAR FROM A CIPM CERTIFICANT 17 Steve Horan, Ph.D., CFA , CIPM Managing Director, Credentialing CFA Institute BENEFITS OF EARNING THE CIPM DESIGNATION
- Acquire technical expertise in a key area of the investment profession - Provide insight/guidance into the management of investment strategies - Become part of a global community of investment professionals who strive for integrity and excellence - Develop your career stand out with expert knowledge and a global professional network -Gain current and on-going knowledge with continuing education - Become a stronger member of your team 18 BENEFITS OF THE CIPM DESIGNATION
19 Lessons learned by obtaining the [CIPM] designation helped me to better understand, shape and improve internal processes in performance analytics as well as in performance and risk client reporting. It also helped me boost my career as a subject matter expert in the area. Maciej Lagoda, CIPM Performance Analyst, Credit Suisse Switzerland I was delighted to be one of the first to take the CIPM exam and support the program. The program is the essential cornerstone to developing performance measurement. Carl Bacon, CIPM Chairman, StatPro Group United Kingdom The CIPM has distinguished and defined my career. The knowledge is not just for performance practitioners, but for non- practitioners as well. A non-practitioner will never see performance the same way ever again after completing the CIPM. From understanding the fundamental concepts that form the foundation of every return calculated in all the right measures, to looking beyond the numbers and obtaining the skill to effectively evaluate strategies and the managers who execute them. It is my opinion that this niche area of study is one of the most important and impactful in the investment industry. Ioannis Segounis, CFA, CIPM Managing Director, Phocion Investment Services Inc. Canada WHAT WERE HEARING
Registration for the September 2017 CIPM exam opens on 1 April 2017! Learn more about the CIPM program at: www.cfainstitute.org/cipm 20 QUESTIONS? Contact: CIPM@cfainstitute.org

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[CIPM][CFA] cipm-webinar.pdf

  • 1. CIPM PROGRAM 21 March 2017 Thomas Porter Head, CIPM Program, CFA Institute Bobby Lamy, Ph.D., CFA Head, Practice Analysis, CFA Institute Steve Horan, Ph.D., CFA, CIPM Managing Director, Credentialing, CFA Institute
  • 3. 3 To lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. CFA Institute Mission To advance the CFA Institute mission by promoting ethical standards and best practices in investment portfolio evaluation. CIPM Program Vision
  • 4. Learn more about the CIPM program at www.cfainstitute.org/cipm Optimize investor results Drive smarter, more informed decision-making CIPM PROGRAM 4 Ethical and Professional Standards 15% Ethics 15% Reporting Standards 70% Performance Evaluation 10% Manager Selection 20% Appraisal 20% Attribution 20% Measurement INVESTMENT PERFORMANCE AND RISK EVALUATION 30%
  • 5. THE CIPM PROGRAM AUDIENCE 5 Portfolio Managers Performance Evaluation Specialists Entry-level analysts (research, quantitative, performance, portfolio) Department heads Assurance Professionals Risk analysts & managers Compliance officers Manager Selection Consultants Institutional investment consultants Financial advisors, accountants
  • 6. TOP CIPM PROGRAM CANDIDATE ROLES 6 APRIL 2016 EXAM ADMINISTRATION 25% 11% 6% 6% 6% 10% 5% 4% Top 8 Roles Comprise 73% of CIPM Candidates Manager of Managers Research Analyst Investment Analyst Quantitative Analyst Performance Analyst Consultant Accountant/ Auditor Financial Advisor/ Planner Portfolio Manager Risk Analyst/ Manager
  • 7. GEOGRAPHIC PROFILE OF CIPM CERTIFICANTS 7 NORTH AMERICA 68% LATIN AMERICA 1% EUROPE 18% AFRICA/ MIDDLE EAST 3% ASIA PACIFIC 10%
  • 8. Computer-Based Testing (CBT) Expert Exam Principles Exam 8 400 local test centers in 80 countries Exam windows March and September 100 multiple-choice questions 20 item sets, each containing 4 multiple-choice questions CIPM EXAMINATIONS
  • 9. 9 Program Overview 2016-2017 CIPM速 PROGRAM Professional/ graduate level Pricing (US$) December 2016 Timeline or Registration period Early registration deadline Schedule for the exam Sit for the exam Exam results Sept 2017 1 Apr31 Jul 2017 31 May 2017 1 Apr23 Sept 2017 1630 Sept 2017 Early Nov 2017 March 2017 1 Oct 2016 31 Jan 2017 30 Nov 2016 1 Oct 2016 23 Mar 2017 1631 Mar 2017 Early May 2017 enrollment fee $0 early registration $575 first-time candidate $975 returning candidate $500 or EXAM SCHEDULE AND PRICING OVERVIEW Professor / Regulator Scholarships available
  • 10. Pass both the Principals and Expert exams CIPM ASSOCIATION 10 Pay annual dues CIPM Association Regular Member: US$275 US$50 for CFA Institute members Satisfy the Mandatory Continuing Education Program 45 credit hours over a three-year cycle TO BECOME A CIPM CERTIFICANT AND USE THE CIPM CREDENTIAL: Become a member of the CIPM Association Complete the professional experience review To qualify for membership in the CIPM Association, you must have accrued either: Two years of professional experience in performance-related activities, OR Four years of professional experience in the investment industry
  • 11. CIPM PROGRAM 11 From the April 2016 Candidate Survey https://cfainstitute.org/programs/cipm/Documents/cipm_candidate_survey.pdf
  • 12. CIPM PROGRAM CURRICULUM 12 Bobby Lamy, Ph.D., CFA Head, Practice Analysis, CFA Institute CFA Institute
  • 13. CFA PROGRAM AND CIPM PROGRAM 13
  • 14. 14 Performance and Risk Appraisal Is the managers performance due to skill or luck? Performance and Risk Attribution Why did the portfolio produce the observed performance? Performance and Risk Measurement What was the portfolios performance? Manager Evaluation/ Search and Selection Evaluating performance in order to select managers Ethics & Professional Standards INVESTMENT PORTFOLIO EVALUATION INVOLVES
  • 15. CIPM PROGRAM TOPIC AREA WEIGHTS 15
  • 16. Performance Attribution Performance Measurement Performance Presentation and GIPS Standards Performance Appraisal and Manager Selection 16 Ethical Standards Knowledge/Comprehension Application/Analysis Synthesis/Evaluation PRINCIPLES EXPERT Ethics Ethics INVESTMENT PERFORMANCE EVALUATION PROCESS
  • 17. HEAR FROM A CIPM CERTIFICANT 17 Steve Horan, Ph.D., CFA , CIPM Managing Director, Credentialing CFA Institute BENEFITS OF EARNING THE CIPM DESIGNATION
  • 18. - Acquire technical expertise in a key area of the investment profession - Provide insight/guidance into the management of investment strategies - Become part of a global community of investment professionals who strive for integrity and excellence - Develop your career stand out with expert knowledge and a global professional network -Gain current and on-going knowledge with continuing education - Become a stronger member of your team 18 BENEFITS OF THE CIPM DESIGNATION
  • 19. 19 Lessons learned by obtaining the [CIPM] designation helped me to better understand, shape and improve internal processes in performance analytics as well as in performance and risk client reporting. It also helped me boost my career as a subject matter expert in the area. Maciej Lagoda, CIPM Performance Analyst, Credit Suisse Switzerland I was delighted to be one of the first to take the CIPM exam and support the program. The program is the essential cornerstone to developing performance measurement. Carl Bacon, CIPM Chairman, StatPro Group United Kingdom The CIPM has distinguished and defined my career. The knowledge is not just for performance practitioners, but for non- practitioners as well. A non-practitioner will never see performance the same way ever again after completing the CIPM. From understanding the fundamental concepts that form the foundation of every return calculated in all the right measures, to looking beyond the numbers and obtaining the skill to effectively evaluate strategies and the managers who execute them. It is my opinion that this niche area of study is one of the most important and impactful in the investment industry. Ioannis Segounis, CFA, CIPM Managing Director, Phocion Investment Services Inc. Canada WHAT WERE HEARING
  • 20. Registration for the September 2017 CIPM exam opens on 1 April 2017! Learn more about the CIPM program at: www.cfainstitute.org/cipm 20 QUESTIONS? Contact: CIPM@cfainstitute.org
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