CISI, global opportunities

The Chartered Institute for Securities & Investment (CISI), as we have written previously, promotes higher standards in the financial services industry through its courses and standardized exams. In many countries, CISI or similar qualifications are compulsory—ensuring that the company or person they are dealing with is qualified.

For those of us here in the Philippines, this international certification is portable and flexible and confirms that our local skills are comparable to those from abroad, and that we can easily integrate into the global system.

We were curious to verify this claim, so we interviewed James, an employer based in the Middle East who hired Don (a Filipino) due to his CISI certification.

James:

1. Was the CISI certification a factor for consideration in hiring for this position? If so, why?

Yes this was a very important consideration as it demonstrated that the candidate was more likely to behave in an ethical way and also have a more International background in the industry by having a CISI qualification.

2. Was the international nature of the certification a consideration, as well?

Yes this was important as we are an international business and being able to understand international business practices as well as local was important when considering someone for this position.

Don:

1. Why did you take this particular CISI certification?

The financial industry in the United Arab Emirates is highly regulated. The Securities and Commodities Authority (SCA) is mandated by the state to provide a suitable climate for stakeholders in securities and commodities. It also promotes integrity and accuracy of transactions, monitors the market and protects the investing public.

Any local or foreign company in the financial services sector who wishes to operate in the United Arab Emirates must apply for a “license” and the registered individuals must also submit all the required documentation. Working as a trading manager in a brokerage firm in UAE, I must comply with this regulatory requirements, part of which is to pass professional qualification exams.

SCA tapped UK-based CISI to administer the training and examinations of financial professionals in the UAE. I believe the SCA chose CISI because it is globally recognized and is a widely respected professional body in the financial and investment industry.

2. Was the international nature of the certification a deciding factor for you?

At first it was merely to comply with the requirements of SCA but as I became a member of the CISI, I’ve realized my CISI certification was indeed valuable as it enhanced my status in the financial services sector and I am recognized globally.

3. Apart from landing this job, how else has it been beneficial for you?

I think the most beneficial aspect for me is personal development. Being a member of the CISI, I am required to complete Continuing Professional Development each year. It keeps me updated with industry standards and continuously learn and acquire skills necessary to adapt to a constantly evolving financial sector.

The Inquirer Academy is an accredited training provider of CISI. The Academy will conduct a review class for those who wish to take the International Introduction to Securities and Investment exam (which is a requirement for the Investment Operations Certificate) on June 15 and 22.

The Inquirer Academy is at 4168 Don Chino Roces Ave. corner Ponte St., Makati City. For more information about the workshop or if you would like to add your input on the article, you may e-mail [email protected], call (632) 834-1557 or 771-2715 and look for Jerald Miguel or Karl Paz.