The CFA Institute Society Engagement Framework supports the principle to “exercise open communication, good governance, and transparent decision-making” set forth in the Principles of Partnership and Operating Framework, a shared vision guiding the partnership between CFA Institute and member societies.
It provides a spectrum of engagement and consultation methods which take into account the different approaches that may be necessary depending on the nature or stage of the project, change, or issue. It aims to provide guidance to CFA Institute staff on how they should consult with societies, and to inform societies of how they should reasonably expect to be involved in planning and decision-making. It also outlines the expectation on the part of CFA Institute that societies will contribute their input and feedback in line with the processes set forth in this framework and agreed to by all parties.
Our Aim
Our aim, in creating this framework, is to further strengthen our partnership with societies and to continually improve our product and service offerings to members and other stakeholders through working together to establish:
Engagement Framework
The grid below describes the different engagement states. For each new (or changed) initiative, CFA Institute will follow one or more of the states—inform, consult, or collaborate—with societies, depending on the nature and impact of each initiative. At the beginning of each initiative, CFA Institute will inform societies of the state(s) to be used for that initiative.
Examples of Engagement
Example 1: Inform
A change is being made to candidate identification requirements to increase the integrity of the exam process and reduce the risk of identity fraud. The change is being made in line with global best practices and having sought expert advice. It is important to inform societies well in advance of the exam to explain the rationale and outline the expected impact, and to brief them on the process and protocols should they a) hear of concerns from candidates or b) be contacted directly by candidates.
Example 2: Consult
The Member Society License Agreement has been reviewed by Legal Counsel and some revisions have been recommended. This contract governs the use of CFA Institute data shared with societies and the use of the CFA Institute brand. Since this is a binding contract, it is important that a) societies are in agreement with its content and b) there are no conflicting local regulations or requirements.
Example 3: Collaborate
CFA Institute has decided to embark on a brand campaign, having first initiated the idea at Regional Leadership Meetings. To be successful, the active engagement and support of societies is necessary.