if interested here is the response CFA gave me… Thank you for contacting us. Work experience is evaluated on an individual basis, so within every job category there could be jobs that qualify for regular membership and those who do not. The evaluation was based on the description you provided regarding your work experience and your supporting sponsor statements. The reviewers make an assessment as to whether they believe you spent 50% or more time performing the eligible tasks. In reviewing application details, we look for those who are directly involved in the investment decision making process, or for evidence that an applicant is engaged in responsibilities and/or producing a work product that informs or adds value to that process. Each position is evaluated on an individual basis, and our review team must be able to see how your duties impact or add direct value to the investment process. In order to understand your duties, we would need more detailed information on how you perform your job - do you perform independent analysis? Do you design tools or models? Knowing “how” and “why” better enables us to see how your duties or work product adds direct value to the investment decision making process. Your previous positions seemed to be of an operational and a support role rather than investment decision making. Our team of reviewers must be able to determine how your duties impacted the investment decision making process or added value to the process. You may want to provide more details on how your positions actually accomplished this. Our review is based on your job narratives. If you would like to clarify your duties, we would be happy to re-review your experience. You can update your work experience record and re-apply for an upgrade by visiting Your Account. Best regards,
I feel your pain. I received a similar response to from CFAI which almost made me lose my &%. I don’t understand how if my job doesn’t qualify anyones could. I work as an associate for a very large and recognized global manager. I have analyst duties on three mutual funds and a institutional trust, as well as 45 or so institutional clients including pension plans, endowments and foundations. My AUM is nearly $2bil CAD. In the course of any given day I construct, implement, monitor, analyze and rebalance asset mix models for our institutional clients and mutual funds. I analyze investments and client IPS’, I also do trading, analyze market impact, and create options overlay for our funds. I also analyze risk considerations for financial statements in accordance with IFRS & (known in Canada as CICA 3862). I was told by CFAI that my job, apparently, sounds more like that of an “office manager”. Yes, because I have a double degree in math and economics from a top global school, have passed my three CFA exams and perform all the aforementioned duties so that at the end of the day I can order office supplies.
Finally they approved it!! Now it says decision days remaining 42…anyone know what that means?
ManVsCFA Wrote: ------------------------------------------------------- > Finally they approved it!! Now it says decision > days remaining 42…anyone know what that means? you local society has 42 days until they have to give you a decision. it can take the whole 42 days or it could take 1. depends on them.
I have decision days remaining for both at 45 days. I can’t see whether work experience has been approved. Where do you find this?
Do they ever decline an application? Once they make a decisiont hen what is the next step?
Just applied for an upgrade from Affiliate to Regular member. Resubmitted my rejected work experience adding buzz words like NPV, WACC, and risk-adjusted returns while also explicitly stating how my role contributed to the investment decision making process. I will be livid if it gets rejected again…
ManVsCFA Wrote: ------------------------------------------------------- > Finally they approved it!! Now it says decision > days remaining 42…anyone know what that means? Congrats!
What if you lie in there and patch up your work-ex to tailor to their needs and get it approved somehow? Do they actually ask for experience letters from firms, etc??
LaGrandeFinale Wrote: ------------------------------------------------------- > What if you lie in there and patch up your work-ex > to tailor to their needs and get it approved > somehow? Do they actually ask for experience > letters from firms, etc?? From what I understand, they look at your work experience and cross reference it with what your sponsors said about the type of work you do. To the extent that you have work experience from another firm that they believe to be fictitious (or that your sponsor cannot speak to), I guess they could request for such letters? At this point it doesn’t make much sense to risk any form of violation due to misrepresentation. I’d be a shame to get through all the exams but lose out on the charter because of a violation like that. You’ve gotten through the hard part, just wait until you’ve got the relevant (and legitimate) work experience.
Good luck to everyone who has applied for membership. How long does it take to get work experience approved? 3 weeks…
Good luck to everyone who has applied for membership. How long does it take to get work experience approved? 3 weeks?
I applied on January 1st and still have not had it approved by the local society.
Im at 35 decision days remaing!!
mpnoonan Wrote: ------------------------------------------------------- > I applied on January 1st and still have not had > it approved by the local society. mpnoonan Local society approval seems to be quite slow. How long did it take for CFAI to approve your work experience.
got all my hours approved after about two weeks, been waiting on SF chapter for about two weeks and counting.
I got some of my experience rejected but I still have to work for another year or so to get to 4. Is it worth it to resubmit my work experience now so that when I hit 4 years I automatically click over to being a full member, or should I wait until I have 4 years before resubmitting?
notenoughtheta Wrote: ------------------------------------------------------- > I got some of my experience rejected but I still > have to work for another year or so to get to 4. > Is it worth it to resubmit my work experience now > so that when I hit 4 years I automatically click > over to being a full member, or should I wait > until I have 4 years before resubmitting? The system won’t even let you resubmit/upgrade until you’ve got 48 months of cumulative experience in your profile. I tried to do the same thing, but the system fired back an ‘error’ message. I contacted the CFAI and they suggested including irrelevant experience if I wanted to get the rejected work experience reviewed again. In the end, there’s no point because I think you’ll still have to apply for an upgrade once you hit 48 months of relevant experience (I don’t think it’s automatic, but I could be wrong). However, if your rejected work experience gets accepted the second time around, and that puts you over the 48 month threshold, then what I previously wrote is irrelevant… If any of that makes sense?!
Makes sense, thanks! CFAI: Committed to Confusion.
31 days left…jeez what takes so long