A Message from the Chair:
On behalf of the Board of Directors, it’s my pleasure to welcome you to another year at CFA Washington! I’m so honored to serve the Society as chair for 2014-2015 and I look forward to working with our incredibly dedicated Board to build on the success and exceptional stewardship of Anna Martinez.
As I write this letter, I am returning from the annual CFA Society Leadership Conference during which CFA Washington was awarded the 2014 Excellence Award for Member Engagement. This most recent accolade follows a year of remarkable achievement and recognition for CFA Washington. In September 2013, the CFA Institute awarded CFAW its award for the Most Outstanding Society with over 1,000 Members. We sustained this momentum throughout the year as we implemented a number of strategic initiatives and successfully delivered significant member value across all of our activities.
Some of the highlights include:
• We held a record 50 professional education, networking, training and career events during this time period, up from 41 events last year. Most importantly, these events received extremely positive feedback ratings.
• We improved member satisfaction and engagement as evidenced by multiple satisfaction and event surveys, the addition of new member benefits, more free events and strong increases in member communications metrics.
• We supported 317 candidates though our three mock exams, up from 286 last year, and provided additional support through our study program, post exam event, charter recognition ceremony and messaging.
• We collaborated in a meaningful way with the CFA Institute through the successful Industry Outreach Luncheon, planning for a major SRO event in DC and joint Employer Outreach meetings, amongst other, more frequent than ever interaction between our two organizations.
• We strengthened our collaboration with other societies and organizations as well. We initiated the formation of a collaborative, regular meeting of North American Large Societies that has resulted in bi-monthly calls where we share best practices and challenges and learn from one another.
• We added three new sponsors and exceeded $90,000 in sponsorship income while solidifying and deepening long term relationships with our consistent supporters.
• We launched a new member and community engagement initiative to enroll our members in an Investment Committee Volunteer effort to provide their volunteer expertise to local non-profits in need.
• We executed on nine separate and focused advocacy-themed efforts throughout the time period which touched on several components of the Future of Finance.
• We accomplished all of this, and more, with flawless execution despite one support staff member transitioning during the time period.
The Board of Directors of CFAW has a long history of outstanding stewardship and 2014 was no exception. Financially, we just ended another year well ahead of our budget. Our revenues are more diversified than ever, with membership dues accounting for just 32% of our total revenue base. As part of our Board’s commitment to ensuring that the governance of our Society meets the highest ethical standards, we engaged a nonprofit consultant to conduct a thorough governance and operational review of our society and make certain that our policies and procedures reflect best practices for nonprofits. Adopting their recommendations has served to further enhance our organization and position us for growth.
We have a number of exciting initiatives in the works for 2014 including a Putting Investors First awareness campaign we are soon to launch. A dedicated website, radio ads and social media are among the tools we will employ to drive awareness of the CFA charter and highlight our commitment to integrity and the highest ethical standards in the investment industry. Stay tuned!
Our Society thrives because of its diverse membership and many volunteers. In addition to managing events and communications, our Operations Coordinator, Deborah Martinez, is our official volunteer coordinator. We welcome new volunteers and encourage you to get involved by contacting her at email@example.com .
We hope to see you at an upcoming CFAW event. As always, we welcome your feedback so please don’t hesitate to get in touch with us.
Camille Alexander, CFA
CFA Society Washington, D.C., is the leading association of investment professionals in the Washington, DC metropolitan area. The Society links its members with each other, those interested in joining the profession, and the community through many activities including professional development and networking events. The Society also sponsors local classes to prepare candidates for the Chartered Financial Analyst (CFA) exam, a prerequisite to earning the CFA designation, which is awarded by CFA Institute and has been attained by most Society members.
Founded in 1953, the Society consists of over 1,700 financial professionals in a variety of positions including portfolio managers, analysts, trust officers, and consultants, as well as pension, endowment and foundation fund executives. Reflecting the diverse nature of the investment professions in the Washington, DC area, members are employed by major corporations, associations, unions, national, state and local government agencies, financial regulators, academic institutions, investment managers, insurance companies, broker/dealers and consultants, among others.