The Institute of Chartered Financial Analysts of India (ICFAI) was established in 1984 with the objective of imparting world-class training in finance and management to students, working executives and professionals in India. ICFAI launched the CFA Programme in 1985 with a state-of -the-art course design and curriculum.

Over the years, the CFA Programme received overwhelming response from a wide cross section of students, professionals, and working executives. Currently, there are about 1500 CFAs who successfully completed the CFA Programme of ICFAI and received the CFA Charter. ICFAI has been instrumental in developing a new cadre of finance professionals in India.

Uniqueness

The CFA Programme is unique in that it addresses the broader 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 centres of excellence * Icfaian Business School * Icfaian Transworld University Center * Icfaian Centre for Information Technology The above three institutions 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 Sydney, Australia. ICFAI is a member of International Council for Open and Distance Education, Oslo, Norway.

Program offered

The CFA Program 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 Program offered by ICFAI 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 Programme is a postgraduate professional programme with the following broad objectives * To impart thorough knowledge of concepts in Corporate Finance, International Finance, Investment Management and Financial Services; * To improve the ability to develop a framework for financial analysis and to rationally evaluate alternatives for purposes of decision-making; * To deepen insights into practical applications 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 professionals 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 visualizes the body of knowledge of the CFA Programme as covering 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 insights into the process of analysis, and decision-making.

Approach

The CFA Programme 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 programme, project work, management development programmes, seminars, conventions etc.

Perspective

Global perspective to business by encouraging the candidates to appreciate and be exposed to the international business environment and practices.

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

Focus

The CFA Programme has four focus areas: Corporate Finance, International Finance, Investment Management and Financial Services.

Corporate finance: In the CFA Programme, 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 quite complex and set in a dynamic environment, is dealt with in the CFA Programme at an expert level.

Financial services: This subject is dealt with through 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 Programme attains an expert level of knowledge in all areas of finance.

Professionalism

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

Professionals like Chartered Accountants, 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 functions better. Graduates interested in building a career in finance can opt for it.

Finance will be of immense help to candidates pursing full-time programmes in management. Working executives seeking enhanced career mobility and prospects in the area of finance will find it worthwhile. It is a god-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 than useful.

Format

The CFA Programme is offered on a distance learning basis through study and examinations in the following two formats * The Regular CFA Programme (3 years) * The Accelerated CFA Programme (2 years) Eligibility

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

Level 1

Any one group, after three months from the date of enrollment.
Any two groups, after six months from the date of enrolment.
All the three groups, after nine months from 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 Programme may be completed in a period of three years. The Accelerated CFA Programme may be completed in a period of two years through study and examinations.

Validity

The candidates are required to complete the CFA Programme 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 Programme within three years from the date of enrollment. Candidates, who are unable to complete the programme within the time frame, but still keen on continuing in the programme, are required to register themselves.