Celestin Pepin holds a B.A. degree in economics and participated in the CFA Program at the CFA Institute, completing Level III in 2024 and becoming a charterholder in 2025. This article will take a closer look at the role of CFA and the skills revolution currently taking place in the financial sector.
One of the most respected designations in the financial world today, the CFA charter is widely recognized as the gold standard in the field of investment analysis. Globally recognized and widely respected, the CFA charter requires a significant investment of time to complete, including a minimum recommended study time of 300 hours for each of the three exams.
The CFA designation is awarded by the CFA Institute, a global not-for-profit organization incorporating nearly 200,000 charterholders and members in 160 locations worldwide.
To enroll on the CFA Institute charterholder program, a candidate must meet one of the following academic criteria:
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The candidate must have completed 4,000 hours of work experience over a minimum three-year period.
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The candidate must have completed four years of professional work experience and have a bachelor’s degree or be in the final year of their bachelor’s degree program.
For the undergraduate qualification, the applicant must have completed their bachelor’s program prior to registering for the Level III exam.
In addition to academic requirements, candidates must complete the assessment in English, live in a participating country, have an international passport, and meet professional conduct admission criteria.
Candidates who meet the enrollment requirements must pass all three levels of the CFA program in sequential order to qualify as a CFA charterholder. In addition, they are required to provide professional reference letters. Members of the CFA Institute must also pay annual dues and sign off annually confirming that they are following the CFA Institute standards of professional conduct and code of ethics.
For those willing to put in the hard work, the financial designation of CFA is a globally respected, highly valuable accreditation. For more than 75 years, the CFA Institute’s thriving community of members and charterholders has upheld the highest ethical and professional standards, delivering better investor outcomes and collectively contributing value to society.
However, like virtually every other market sector today, the financial services sector is experiencing an ever-expanding talent gap. To protect themselves, financial services firms are embracing skills-based hiring and redoubling their upskilling and reskilling efforts.
Faced with a worsening talent crunch, financial institutions are prioritizing will and skill over degrees and pedigrees, according to Sagar Goel, Boston Consulting Group managing director and partner. A Global Insights leader at BCG Henderson Institute, Mr Goel points out that in doing so, companies are expanding the pool of people they can attract.
A survey undertaken by the TestGorilla talent assessment platform revealed that 87% of financial firms were already utilizing skills-based hiring as of 2024. Take for example HSBC, whose Accelerating Wealth Programme centers around hiring individuals with transferrable skills from different sectors and teaching them banking skills, according to the bank’s Head of Talent Asia Pacific Lara Partridge.
Talent shortages are currently pervasive across roles and industries, with three quarters of employers having a hard time recruiting the talent they need, according to a global survey by ManpowerGroup. A decade ago, just 36% of businesses experienced the same problem. Against a backdrop of technological disruption and changing demographics, firms operating in the banking and finance sector are struggling to secure the talent they need to help their businesses thrive and grow.
The financial services sector has seen steady growth in high-skilled roles over the past 20 years, a period that has seen a corresponding erosion of low- and medium-skilled roles. In addition to financial services expertise, today’s promising candidates also need a fine blend of technical savvy and interpersonal skills to position themselves for success as a CFA.
