I am currently working as a Middle Office Manager and I don’t know if my time spend within that position qualify as relevant work experience to obtain the charter.
I know the CFAI offers guidelines there: http://www.cfainstitute.org/community/membership/process/Pages/work_experience.aspx
But I found those rather vague and it doesn’t allow me to get a definite answer about where I stand. It’s a pretty big problem to me, I would hate having spend all this time and efforts to end up learning that I have no relevant work experience after passing the level 3 .
Broadly speaking, do you know if Middle Office candidates manage to validate their work experience or not?
What are your daily responsibilities Mr. Middle Office Manager?
Well my activities cover a wide range as we are small company and there is no speciliazation in our middle office.
Honestly I do a lot of things which I don’t think qualify like accounting or administrative boring stuff.
But I also product reportings where there is performance analysis and control of limits and risk ratio, and I also do a lot of compliance where I check if the investments we are doing follow the guidelines of our company and the investment policies we have set up with our clients. I also check the calculations of the counterparties of our swaps and loans to check if they are asking us the good amount.
Sometimes the front office ask me to do simulations to see what would be the perf if we would have done Y instead of X. I think that clearly helped to refine the investment process, but honestly it’s rather marginal and it’s not one of my core activitie (but compliance related stuffs and reporting are part of my core activities).
You’re good to go, I wouldn’t sweat it. Just focus on the investment decision making process inputs in your submission.
LOL, you quantify risk ratios, check IPS of clients, run simulations and revise swaps and loans. That’s good enough. You may do less than a half of this tasks in an investment bank position.
Once you pass L1 you can apply for regular membership at which time you can submit your work experience for review and acceptance for the charter. This way you can do L2 and L3 without worrying about it. But I also agree that you won’t have a porblem. Just make it sound good like Harrogath suggests.