The winners of the 2021 Most Outstanding Society award have demonstrated the most exceptional across-the-board performance. There are four categories–based on membership size–and the winners are: CFA Society Ukraine, CFA Society Philippines, CFA Society Nigeria, and CFA Society United Kingdom.
CFA Society Ukraine
Under 150 Members
Over the last year, CFA Society Ukraine has gained influence and brand visibility, positioned itself as an opinion leader on financial and investment markets, and is the most prominent advocate of ethics in investments locally.
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Delivering financial education and providing society members with the opportunity for professional learning was key to many events hosted by CFA Society Ukraine in 2020. The local society was quick to change to virtual delivery and used its event programme to discuss the most current topics, including AI, FinTech, ESG and Sustainable Investing.
CFA Society Ukraine published recordings of its events on YouTube and provided written updates on its website in Ukrainian. To provide additional value to members in the virtual world, the local society partnered with the CFA Society Bahrain QODWA Mentorship program and launched a mentorship program to support professional networking.
By running events and developing courses in Ukrainian, the local society engaged a wider audience in its initiatives. In 2020, CFA Society Ukraine hosted its Ethics Challenge in Ukrainian, which increased student engagement in the challenge. In total, the local society secured 150 participants in 31 teams, from 16 different universities–helping to raise the profile of the CFA Program among universities. The local society also launched educational products for the public and developed an online video course in Ukrainian on “Finance and Investment Fundamentals”. The course received over 14,000 registrations, with 1,338 individuals completing their certificates.
CFA Society Ukraine is governed by a diverse board of directors, which ensures institutional knowledge is maintained, along with a flow of fresh ideas and ambitious projects from new board members. Led by the board, CFA Society Ukraine developed over 50 professional learning materials, hosted 30 events, managed 13 projects, and partnered with 24 organizations over the last year.
CFA Society Philippines
150-349 Members
Solid leadership and good strategic planning helped CFA Society Philippines respond well to the global pandemic and successfully navigate the new normal. The local society delivered operational excellence, membership value, increased brand awareness, and built market integrity.
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To help drive its strategy and better serve its members, CFA Society Philippines invested in its staff by increasing their skills through various trainings while continuing to build long-term relationships with universities, regulators, and industry partners in the country. The local society also kept its volunteers engaged by launching an initiative during the pandemic which allowed volunteers to meet virtually and feel connected with the local society. Thus, while the delivery platform has changed, its quality service to its members and the wider investment community remained the same.
Launched in 2013, the Philippine Junior Finance and Investment Summit has since reached over 16,000 students and young professionals nationwide. Through this project, the local society has helped to increase its brand exposure and student participation in its activities. Last year, CFA Society Philippines strengthened its affiliate program with 27 student organizations, providing them with non-monetary resources that include a career guide webinar series.
In the midst of the pandemic, CFA Society Philippines utilized available social media platforms in reaching out to its members and maintaining its presence in the finance community. It has built a member community on the social media platform Viber, which was used to poll its members to understand the status of their work and availability. Learning that its members felt more stressed than ever before, the local society reduced the number of webinars to prevent digital-fatigue and utilized more of the CFA Institute content on well-being and about COVID-19. Furthermore, the local society also joined hands with its members to raise funds for those on the COVID-19 frontline and the victims of Typhoon Ulysses.
CFA Society Philippines has remained focused on actively promoting the importance of ethics and standards in the investment industry. Indeed, CFA Society Philippines recently secured adoption of the Code of Ethics and Standards locally. Read more: https://connexions.cfainstitute.org/cfa-society-philippines-secures-adoption-of-code-of-ethics-and-standards-locally
CFA Society Nigeria
350-999 Members
CFA Society Nigeria aims to be the go-to organisation for investment knowledge and practice in the local market. Through innovative initiatives and events, the local society has enhanced member value and strengthened its visibility and relevance.
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To position itself as a thought-leader in the field of ethics and enhance regulator recognition for its members, CFA Society Nigeria secured a partnership with the Nigerian Securities and Exchange Commission (SEC) to develop a Code of Ethics for the Nigerian capital market. Actively promoting high standards of professional and ethical conduct has been important to the local society and it hosted its annual Ethics Challenge with 16 universities and 80 participants this year.
Despite the challenges associated with low internet bandwidth connectivity in Nigeria, the member society hosted a successful CFA Institute Research Challenge with 18 universities virtually. CFA Society Nigeria also collaborated with other local societies and organised three pan-African webinars, which provided Professional Learning opportunities for members and discussed topical themes, such as the effect of COVID-19 on foreign direct investment in Africa.
To provide support to key stakeholders through the pandemic, the society held its annual Career Fair–a platform for 10 top employers and over 340 prospective employees to network–and a 30-Day Walk Challenge for members, which promoted social, physical and mental wellbeing.
The local society has an effective governance structure, put in place by the board of governors, and is supported by a rapidly growing network of committed volunteers. It has also supported women in investment management through a mentoring programme and awarded 775 scholarships to women in the investment industry through a partnership with A Stotz Investments.
Through strategic alliances with institutions, CFA Society Nigeria has increased visibility and recognition of CFA Institute credentials among employers, sponsors, investors and regulators.
Read more about CFA Society Nigeria initiatives:
https://connexions.cfainstitute.org/cfa-society-nigeria-drives-unprecedented-participation-in-board-of-governors-election
https://connexions.cfainstitute.org/cfa-society-nigeria-promotes-ethics-and-gender-diversity
CFA Society United Kingdom
OVER 1,000 Members
As a volunteer-led organisation, strong volunteer support and robust governance are key to the strategic progress and success of CFA Society United Kingdom. In the past year, 775 members gave around 19,000 hours of their time across 78 volunteer groups. The local society has increased its visibility locally, transformed its digital system and promoted its Certificate in ESG Investing to a global market.
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A recent independent board review led to the implementation of several improvements focused on the five drivers of board effectiveness: role clarity; board composition; processes; relationships and culture.
A strong strategic framework has enabled the local society to rapidly respond to the challenges of the pandemic. CFA Society United Kingdom identified its immediate priorities; moving events online, amending programming in response to the crisis and shifting its qualifications from computer-based testing in test centres to remote proctoring online (leading to increased candidate registrations). Recognising the growing need for effective digital engagement, the society has also worked on transforming its digital systems to improve member and candidate experiences.
Developing its education mission is central to CFA Society United Kingdom. The increased visibility and promotion of the Certificate in ESG Investing to a global market in partnership with CFA Institute, has now generated over 8,500 registrations since launch in 2019. The society is developing a new qualification in Climate and Investing which will launch in Autumn 2021.
CFA Society United Kingdom has joined industry leaders in supporting the Green Finance Education Charter to tackle the challenges of greening finance and investment. The local society is also exploring how it might actively promote sustainability within the profession and in its own operations, through industry engagement, advocacy, investment education and social engagement. The societycontinues to lead the way in promoting ethical standards, and has re-imagined its Ethical Leadership Programme; promoting a new way for leaders to gain knowledge and techniques to develop practical ethical decision-making skills.
The local society has engaged with broader industry initiatives, which has led to the submission of 18 consultation responses, generating over 40 pieces of media coverage and helping to increase awareness of key issues such as sustainability and value for money in the profession.
Huge congratulations to the winners who have shown fantastic tenacity in what has been a challenging year.
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