Editor: How did you first hear about the CFA Program?

Hatfield: I first heard about the CFA Program when I was completing my undergraduate finance course at university in South Africa. My finance lecturer (herself a CFA charterholder) gave me the application materials and encouraged me to register for the Level I exam. At the time I was planning to complete another year of university study and then write my qualifying exams to become a Chartered Accountant and did not think I would be able to manage the CFA exams as well. On the day I passed my accounting qualifying exams, I decided to register for the CFA Program.

Editor: Briefly describe your position at Standard Bank.

Hatfield: I have been working in Standard Bank’s business in Moscow as a senior corporate credit analyst since March 2005. The Standard Bank group is the largest South African-based banking group, as measured by market capitalisation and asset base, and has operations in 17 African countries and 21 countries outside of Africa. The international group offers a wide range of specialist investment banking and trade services, focused on emerging markets and natural resources. My main focus is producing corporate, credit, and structured debt finance research on selected issuers of fixed-income securities, to support sales and trading, and primary markets activities, relating to Russia and other CIS countries.

Editor: Can you remember any particular strategies or tactics that got you through the three CFA exams?

Hatfield: I clearly remember that a structured approach to my studies was the main strategy, which got me through the exams. In each of the three years, I started my studies in the second week of January. I divided the prescribed material into modules and allocated a week to each module so that I would have covered all modules by two weeks before the date of the exam. In each year, I was able to take two weeks’ leave to review all the material prior to the exam. I used a combination of original books and readings and study guides, and I generally studied independently.

Editor: For someone considering the CFA Program, what can you offer as the most compelling reason to pursue the CFA charter?

Hatfield: In my experience, there were two very compelling reasons to register for and complete the CFA Program. The first was that it provided a comprehensive and structured way for me to consolidate my existing academic knowledge and understand how it could be practically applied in the investment decision-making process. The second reason was that, once obtained, the CFA charter provided me with expanded career opportunities both within South Africa and abroad. I have found it to be an excellent international “door opener.”

Editor: Was it worth the effort to earn your CFA charter?

Hatfield: The effort was definitely worthwhile considering the significant impact obtaining the CFA charter has had on my professional outlook and career. Shortly after being awarded the charter, I sought to change my career direction (from professional accountant to equity analyst). At that time, the fact that I had a CFA charter gave my future employers the confidence to hire me into a role for which I was academically qualified, but in which I had no practical experience.

Editor: What are the fun and interesting parts of your job?

Hatfield: My job entails a good mixture of detailed analysis of financial and market information and meeting with people from many cultures and backgrounds. I thrive on being able to combine these cerebral and interpersonal aspects within my professional activities. I think the experience of learning from, and collaborating with, people from different countries and with different experiences, especially within Standard Bank, have benefited me as a professional and as a person.

Editor: What did you learn from the CFA Program that you would not have learned any place else?

Hatfield: While completing the CFA Program, I learned to think wider than my current market. The South African financial markets developed in relative isolation, and I was not used to considering the global context. The CFA Program requires the candidate to understand and appreciate the manner in which global developments influence financial markets across the world. Also, it is necessary to link the global situation to one’s local experience, in order to make sense of it all. The expansion of my professional outlook was, to a large extent, the result of studying for a global exam and understanding the thoughts, issues, and priorities which governed the experience of others.

Editor: How is the CFA designation perceived in Russia?

Hatfield: The CFA designation, while not being broadly recognised in Russia, is certainly gaining recognition. As more locally based candidates enter the program and more people are awarded their charters, employers are beginning to recognise and value the designation and, in some cases, encourage employees to enroll. The Russian markets are developing rapidly, but few local educational institutions provide knowledge on the most up-to-date financial topics; so, many young professionals seeking to improve skills and capabilities look to the CFA Program as a valuable international educational source. In addition, there is no financial or investment designation in Russia with a similar status, reputation, and wide recognition. The majority of professionals in the financial industry are aware of the CFA Program and view this designation as a sign of distinction.  

Editor: What have you gained from the experience of helping start a CFA Institute society in Russia?

Hatfield: I learned a lot about patience—and camaraderie. A group of interested people began the process of setting up a society in Russia in late 2002, but it was only in late 2004 that we finally completed all the required processes, which included getting the minimum 50 eligible members to complete their application forms. During this time, I have met a great number of dedicated and motivated professionals, many of whom are still actively involved in the society. In the year ahead, I hope to interact with more of the Russia Society’s multinational membership, which now numbers more than 100. Ultimately, it is the people we meet who make life interesting.

Editor: CFA charterholders often speak of the connections or networking opportunities that open up once they earn the designation. Do you have any personal experience to illustrate this?

Hatfield: I moved to Russia in 2002, spoke no Russian, and knew very few people who lived here. About two months after I arrived in Moscow, CFA Institute hosted a meeting which aimed to encourage Russia-based CFA Institute members to start a local society. I attended this event, met a number of like-minded individuals, and over canapés, a group of us decided to work towards starting a local society. Over the years, these dedicated people (and others who I have met at various society events) have become my teachers, business counterparts, and friends. When you move to a new place, seeking out CFA charterholders enables you to meet people who share your professional interests and ethical values and helps you to feel less of a stranger in a strange land.

Editor: Any other words of encouragement or comments about CFA Institute or the CFA Program?

Hatfield: CFA Institute provides its increasingly global membership with valuable guidance on ethics, best practice, and academic thought leadership. By completing the CFA Program and obtaining membership, professionals can benefit from and contribute to this process—both of which are rewarding.