The winners of the Most Outstanding Society award demonstrated exceptional across-the-board performance. There are four categories – based on membership size – and here are the winning entries.
CFA Society Doha
Under 150 Members
CFA Society Doha believes in inclusivity, and this is evident in its collaborative approach to building market integrity, supporting members, and developing future professionals and candidates.
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CFA Society Doha considers 2019 to be a turnaround year for building market integrity locally. It has built several high-profile partnerships, with the Qatar Financial Markets Authority, Qatar Exchange, and Qatar University, which are helping to advance the standards of the investment profession in Qatar. . The local society is regarded as a trusted partner for the asset management sector and was awarded the “Best Non-Profit in Qatar in 2019” by the Qatar Financial Centre.
To provide clarity and direction, CFA Society Doha formalised its mission, values, and strategic objectives. The local society has also strengthened its governance and society structure. Prior to 2019, only the president’s role was defined. Now, each board member has a specific role and Key Performance Indicators, which means individuals are accountable for certain strategic priorities.
The local society is developing future professionals by hosting ethics sessions at universities, conducting mock exams and group study sessions, and leveraging the CFA Institute Research Challenge to strengthen its connections with a large pool of university students.
In addition, CFA Society Doha has enhanced member engagement and retention rates by focusing on fewer, high impact initiatives that are in line with its members’ preferences. These include RADA sessions on Executive Presence and Women in Leadership Roles, ethics workshops, ‘Meet the Business Leader Sessions’, a Women in Investment Management initiative, and a mentorship program.
CFA Québec
150-349 Members
CFA Québec is a dynamic organisation with no shortage of ideas. Its comprehensive strategic plan is at the core of all its decisions, and it has devoted time and energy to developing a strong operational structure.
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The local society organises annual training for directors and officers, implements governance policies that facilitate the management of the organization, and has developed a risk management framework. It measures the success of these initiatives by the high retention rate of directors on its board, with most being involved for five to seven consecutive years.
CFA Québec has a busy annual calendar, with a valued continuing education program that delivers varied, high-impact events. The local society has collected nearly $75,000 in annual sponsorships, engaged in university and candidate outreach opportunities, and established a partnership plan with employers in the region.
In terms of building market integrity, CFA Québec collaborates with the local regulator to deliver regular events, offers an annual ethics event to its members, and benefits from having the regional support of CFA Societies Canada and the Canadian Advocacy Council.
To advance professionalism and brand recognition, CFA Québec offers a mentorship program to students and professionals at the start of their careers, as well as professionals with 5–10 years of experience who wish to be supported in their career growth strategy. It also launched a local campaign to recognize the large employers that hire CFA charterholders and has developed links with other professional associations in the region.
The local society places emphasis on measuring the success of its initiatives and in the last year has seen an increase in regular members, participants in their activities, social media followers, and number of visits to its website.
CFA Association (Russia)
350-999 Members
CFA Association (Russia) has made huge strides in improving market integrity and establishing high ethical standards in the local investment industry. In partnership with the Central Bank of Russia, it created a code of ethics and standards of professional conduct that all financial organizations in the Russian securities market have been recommended to use.
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Based on the CFA Institute Standards of Practice Handbook, the code of ethics and standards of professional conduct was developed in Russian with the help of over 20 volunteers. Upon completion, the Central Bank of Russia published this as an official document and recommended that all financial organizations in the Russian securities market use it when developing their own codes of ethics. The society has also placed more emphasis on the GIPS® standards and welcomed its first GIPS verified company in 2019.
CFA Association (Russia) has also paid special attention to actively engaging universities across the country, with 25 universities registering for the 2019 CFA Institute Research Challenge. Two teams reached the 2019 EMEA Regional Final in Zurich, with one team winning the regional title and going on to participate in the Global Final in New York.
The local society has held numerous events - including an Annual Forecast Dinner and professional development courses - and launched an online learning library and a member-only forum on the society website. To ignite interest in the CFA Program among those who are not fluent in English, the local society has also created a CFA Program Level I video prep course in Russian.
CFA Society Korea
OVER 1,000 Members
To achieve its mission and vision, CFA Society Korea developed clear strategic objectives that focus on membership growth, building brand and influence, advocacy, operational excellence, and developing future professionals.
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CFA Society Korea created a Society Board Manual and prepared a succession plan to build on its governance and encourage wider participation in the leadership of the society. The local society hired a managing director and project managers and has spent time building a close-knit team of volunteers to support and drive its operations.
Events play an important role for CFA Society Korea. Last year, the local society hosted 29 events to build its brand and expand its influence; this was the largest number of events in its history. The 6th Korea Investment Conference attracted over 300 attendees, including 30 industry CEOs, 15 sponsors and 15 journalists. The society also invited high-profile guests to attend its 2019 Charter Award Ceremony, with Paul Smith, CFA, the former president and CEO of CFA Institute, delivering the keynote and Kwangjin Kim, a CFA charterholder and renowned singer in Korea, performing a concert.
By sponsoring the University Investment Club, which involves students from 35 universities across Korea, the local society has increased engagement with this key audience. It also runs a mentorship program, which attracted over 100 senior students who want to pursue a career in finance and revitalized its local Research Challenge, inviting guest speakers and organising a Research Challenge Alumni Party.
The local society launched a Let’s Measure Up™ campaign in Korean across 10 major online media outlets and developed its social media presence. There was a 34% increase in website traffic to the CFA Society Korea site compared to last year.
Huge congratulations to the winners who have achieved an enormous amount over the last year. Winning societies each received US $5,000; a trophy; general digital marketing materials; and recognition of this achievement from CFA Institute.
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