he CFA charter is the recognized qualification if you want to excel in the South African investment industry, according to Omri Thomas, CFA, head of research at Sanlam Investment Management.
        “A lot of courses or study areas are not really practical and are very theoretical,” said Thomas. “I find that the CFA Program is very practical and can immediately apply in your day-to-day responsibilities.”

		Omri Thomas, CFA, is head of research at Sanlam Investment Management, the second-largest South African asset management firm with US$40.8 billion under management. The company covers all fees, books, and prep course costs for CFA Program candidates. And, it allows them two to three weeks of study leave to prepare for the exam.

      As head of research at Sanlam Investment Management, the second-largest South African asset management firm with US$40.8 billion under management and 250 employees, Thomas oversees 22 employees, 16 of whom are CFA charterholders or CFA candidates. He sees the CFA Program as a way to further fuel employee knowledge outside of their areas because it provides broad exposure to the whole financial market and not just one portion.
      “I place a lot of importance on the [CFA] charter,” says Thomas.

Charter Provides Job Applicant Advantage
When looking at a pool of equally qualified applicants, Thomas says that having the CFA charter would definitely count in an applicant’s favor.
      “If I were looking at two candidates and the one had a CFA charter and the other had an MBA, to me the CFA charter is much more relevant,” he says.
      Pursuing the CFA designation tells him several important things about an applicant. First, being a CFA charterholder or candidate demonstrates a serious dedication to the investment industry because of the volume of material a candidate must work through. Second, studying the curriculum provides a good base of knowledge, so Thomas can be sure that the applicant has a strong foundation in the industry. Third, being a CFA charterholder or candidate tells Thomas something about the applicant’s intellectual capacity because the standards in the CFA Program are so high.
      “Whenever someone asks me what they should do to enter the investment field or what the most appropriate route to follow is, I always refer them to the CFA Program,” says Thomas.

Strong Employer Support for CFA Program
Sanlam Investment Management shares Thomas’s high esteem for the CFA Program. The company provides financial support to CFA Program candidates, covering all fees, books, prep-course costs, and allowing them two to three weeks of study leave to prepare for the exam. They also provide support in the form of mentorship and guidance. In fact, Sanlam finds the program so relevant that it requires employees in their Investment Professional Development Program to become CFA candidates.

Pioneer Initiative Relies on the CFA Program
The Investment Professional Development Program (IPDP) at Sanlam is a recent venture designed to overcome a shortage of black investment professionals in South Africa. During 2003, Sanlam developed IPDP to “get professionals to leapfrog their experience and knowledge base on investments,” according to Thomas. Sanlam selected four people from disadvantaged communities who demonstrated great potential and enrolled them in an intensive learning program. The education and mentoring program requires participants to enroll in the CFA Program as the culmination of their effort.

In 2003, Sanlam developed the Investment Professional Development Program (IPDP)—an education and mentoring program—to help overcome a shortage of black investment professionals in South Africa. IPDP requires participants to enroll in the CFA Program as the culmination of their effort.

      Gray Africa (above, center), one of three IPDP employees chosen out of 100 applicants in 2004, says that the IPDP is “a very good mix of formal structured training and on-the-job training.” He adds that the CFA Program provides a context and a framework for candidates to see the applications that make studying the challenging material so important. “The CFA Program is not disconnected pieces of information that you’ve studied,” he says. “It’s something that you know is part of the bigger picture because it comes up in work all the time.”
      After completing the program, the first four IPDP participants from 2003 are all permanently employed at Sanlam: one in quantitative research, one in the private-client group, and two in fixed income.
      “We are very encouraged by the quality of the candidates that have come through and by the results of the program,” says Thomas.
      Thomas looks back on his own experience in the CFA Program and identifies with his IPDP employees. “It’s always a challenge to study and work full time,” he says. “I still find I go back to the material I studied for my CFA charter as I come across different challenges and problems in a practical environment.
      “Personally, I find it hugely useful.”