SPECIAL REPORT: 30 YEARS OF THE CISI
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partners the option to use our model as a sensible benchmark.” This is important because organisations
are likely to prosper the most, collectively and individually, when they have forged their own path.
Educational offering evolves A key factor behind the CISI’s response to the rapid and constant evolution of financial services has been the persistent desire – by its management and its members – to continuously improve its educational provision. As stated in The Review’s 25th
anniversary article about the development of the CISI’s educational offering, the electronic trading of financial products went from “niche to norm” in the 1990s, creating new risks and the need for better
// THE INSTITUTE WILL TRY TO ANTICIPATE THE NEXT CHALLENGES AND NAVIGATE THE UNEXPECTED ONES IN ORDER TO BEST SERVE ITS MEMBERS //
governance, regulation, and education to keep up with and get ahead of the changes. The CISI has since then been
constantly developing its learning materials in response to changing global influences and improving the way it imparts knowledge, which is why it now offers 80 exams compared to 20 in 1992, and why it reaches 80 countries compared to just four when the Institute launched. It also offers in the region of 250
‘Professional Refreshers’, online modules providing between 60 and 90 minutes’ CPD, to help members update their knowledge on a topic, or to provide them with some basic information on a new subject. Susan Clements says: “We’ve had them for more than ten years, and in that time they have evolved to cover many more topics and provide a more varied and engaging learning experience. The number of users has grown and grown.” Susan says the move to digital is
something the CISI has been committed to for some years. It now also offers ‘Professional Assessments’ – short online courses that are between a refresher and an exam. “Even though we still produce
hard-copy textbooks to teach people the syllabus for our exams, about five years
26
ago we launched our ebooks, and now we’re focusing on developing these towards a new format that we think will better meet the needs of learners,” she says. With the introduction of remote invigilation (see p.18), the way in which exams are taken might have changed forever, but one thing remains the same: there’s no short-cut to learning what you need to know to pass an exam. “For our higher qualifications, about
500 hours of study is required, so anyone undertaking these needs to have a plan for the next three months or so, as to when they’re going to find that time,” she says. “The ones who skimp will be sorely
disappointed; there’s no substitute for learning the content and we won’t dumb things down, as that’s pointless.”
Moving with the times The Institute’s education offering keeps pace with financial sector developments by delving into new and emerging areas and formats to make the material more accessible. This is why the CISI engages with institutions that are committed to forging knowledge and best practice in any and all aspects of the financial services sector. This includes the Institute’s small but
vital role in universities, working to encourage the next generation of financial professionals, through to joining national initiatives such as the Green Finance Education Charter to help ensure that finance professionals have the relevant understanding, skills, and attitudes to accurately assess climate-related risk and opportunities. Essentially, like the Institute’s education
offering, the entire organisation is being continually refined, because standing still hasn’t been an option in its 30-year history, and it won’t be in the future. The Institute will continue scanning the horizon to try to anticipate the next challenges and navigate the unexpected ones in order to best serve its members in the advancement and dissemination of knowledge in the field of securities and investment. Achieving this goal will be a
collaborative effort with all stakeholders across the financial services sector to ensure every step forward that the CISI takes puts its members in the most advantageous position possible and provides them with all the tools they need to remain at the forefront of their profession for the next 30 years and beyond.
THE REVIEW SEPTEMBER 2022
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