Work Experience Descriptions

Your work experience descriptions must demonstrate that at least 50 percent of your time is related to the investment decision-making process. While you may use the descriptions below for guidance, you should describe your daily activities in your own words in as much detail as you can. The details you provide about your work experience will help determine your eligibility for membership.

Job Title
Actuary

Not Acceptable
Support annual actuarial valuation process. Benefit calculations.

Acceptable
I perform projections, cash flow analysis, and durational analysis of individual health insurance policies. These activities have a direct bearing on the investments chosen to back the reserves for these blocks of business.

Auditor

Review the internal control processes to ensure compliance with the requirements of the Sarbanes-Oxley Act and recommend process improvements. Perform non-SOXrelated financial and operational audits on businesses to identify control and process weaknesses and recommend process improvements.

I performed financial statement audits of companies that carried significant assets and liabilities subject to fair value accounting. I assessed the reasonableness of the valuations and assumptions behind the valuations of those assets and liabilities.

Consultant

Management consulting for the financial services industry.

I am a management consultant to the financial services industry, working with risk management functions, assisting clients in developing and refining statistically based credit risk models covering a diverse range of portfolios. Rebalance high-net-worth clients' portfolios by trading short-term assets and pooled funds. Analyze and evaluate client performance reports. As a financial engineer in an asset management company, I am responsible for evaluating product development and using quantitative methods and tools to recommend asset allocations, construct portfolios, and perform derivative analysis. Prepare financial models based on reviewed information; participate in the valuation and decision-making process; analyze fundamental and value acquisition targets for clients.

Portfolio Manager

Rebalance portfolios; perform reporting.

Quantitative Investment Analyst

My work is related to product design and quantitative analysis.

Securities Underwriter

My company provides risk analysis and financial planning for customers.

Sample Member Job Titles

Titles alone can't determine your qualifications for regular membership. You must spend at least 50 percent of your time in the investment decision-making process. Many of our members hold these job titles. This listing illustrates the range of positions that can qualify for regular membership in CFA Institute, but positions with other titles can qualify as well. The details you provide about your work experience will help determine your eligibility for membership. Accountant Actuary Auditor Client service representative Compliance analyst/officer Consultant Corporate chief financial officer Corporate finance analyst Derivatives analyst Economist Financial adviser Financial journalist/editor Institutional sales professional/business development (buy and sell side) Investment banking analyst Investment consultant Investment strategist Investor relations Mutual fund sales Portfolio administrator Portfolio manager Private client investment adviser Product/software developer Professor/instructor Quantitative investment or risk analyst Real estate investment manager Regulator Relationship manager Securities trader Securities underwriter Security/investment analyst Supervisor of investment firm Valuator of closely held business Venture capital analyst

Membership Application Tips

Do:

Allow several weeks for your application to be reviewed and approved for membership. Provide a detailed description of your daily responsibilities, including what types of clients you serve. Tell us what types of products you recommend to clients. Describe how your position adds value to the investment decision-making process. Provide us with detailed information regarding any independent analysis you perform. Use the same date to end one work experience position and start the next if the positions ran consecutively. Ask your sponsor to describe how you are engaged in work that impacts the investment decision-making process.

Don't:

Describe the general activities of your company. Rely on your job title as a substitute for describing your job duties. Request sponsor forms from someone who does not know the nature of your work. Wait until after you pass Level III to complete your application. The volume of applications may slow the review process and delay the award of your charter.

Steps to Becoming a Member

1. 2. 3. Apply for CFA Institute and Society membership CFA Institute and Society review your application Activate your membership once your application is approved

What Happens When We Receive Your Application?

Upon receipt of your application, we send you an e-mail to forward to each of your two membership sponsors. The e-mail contains a link to the online form the sponsors must complete as part of your application. We receive the information your sponsors submit in the online form, and we make a member type recommendation (affiliate or regular) based on your sponsor forms and work experience details. Your complete application is then submitted to the local society you selected for their review and approval. Once CFA Institute and the society approve your application, you will be notified by e-mail. You may then activate your membership at any time by following the instructions in your e-mail notification. To activate you will need to pay member dues and file your Professional Conduct Statement.

The application process may take 8-10 weeks.