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1/22/2019 5:30 PM1/22/2019 8:00 PM

2019 Investment Professional Employment Outlook

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Start the year off right in tackling various issues, including job-hunting strategies, tips on how to navigate mid-career changes, and current hiring trends within the finance and investment industry.  On Tuesday, January 22, 2019 come and hear from Anna Frick, World Bank, Tim Horgan, McCormick Group, Kate Shattuck, Korn Ferry Financial Services and Karen Edwards, CFA, Partner, Boyden USA as they discuss those topics and more. Learn the benefits of being a CFA Charterholder and how to best highlight your accomplishment during the interview process.

Learning Objectives

  1. Explore the issues of talent management from both the firm perspective as well as the employee’s perspective. 
  2. Learn why senior executives need to understand how to recruit and retain the best talent and current trends in doing so.
  3. How and when to use external recruiting firms and what to expect.
Who Should attend:

  • Senior executives to understand more about recruiting and retaining the best talent.
  • Mid managers trying to assess opportunities at higher levels
  • New grads interested in determining where to find the fastest growing areas
  • Investment professionals who are in transition 

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Consultant, McCormick Group


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HR Talent Acquisition, The World Bank Group

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Principal, Korn Ferry Financial Services Sector ​

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Partner, Boyden USA
1/24/2019 12:00 PM1/24/2019 2:00 PM

REITs and Direct Private Market Investing in the Internet Age

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Are the characteristics of primary real estate markets changing? Join us and learn what public and private real estate looks like for the average investor compared to the larger players. Learn how technology, Fed policy and current economic conditions will impact the future of commercial real estate market.
On January 24, 2019, come​ hear the takes from our panelists; Revathi Greenwood, Head of Americas Research at Cushman & Wakefield, Chris Lee, Member & Head of RE Americas at KKR, Benjamin Miller, CEO at Fundrise and W. Stevens Carroll, Principal/Senior Global Portfolio Manager at CBRE Clarion, as they discuss issues ranging from real estate, infrastructure and technological innovation to interest rates, credit conditions, deal-structure and tax policy.
Learning Objectives:
  1. Learn how the some of the key players in the commercial real estate space operate.
  2. Learn about the current cycle and commercial real estate market conditions.
  3. Understand how risk is managed in and out of cycles.
  4. Learn about potential disruptions and/or possible events to monitor that may change many aspects of what we know today​.
  5. Learn about Crowdfunding and the role it will play in direct investments.
Who Should Attend?
  • CIOs.
  • Commercial Real Estate Management professionals.
  • Investment professionals.
  • Portfolio Managers.
  • Risk Management and Strategic Asset Allocation professionals.
  • Anyone with a 401K, IRA or Pension plan invested in Equities.
  • Anyone interested in Fintech (Crowdfunding)
Revathi Greenwood
Head of Americas Research at Cushman & Wakefield
W. Stevens Carroll, CPA
Principal Senior Global Portfolio Manager at CBRE Clarion Securities
Chris Lee
Member & Head of RE America​s, KKR
Benjamin Miller
Co-Founder and CEO, Fundrise


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Brad Case, CFA
Senior Vice President, Research & Industry Information at NAREIT 
2/5/2019 4:00 PM2/5/2019 6:00 PM
 Alternative Investments: 
Best Strategies for Current Markets
Current markets have striking similarities to 2006-2007.  Despite cautionary signs that the economy is slowing, private equity funds have been raising at breakneck pace.  The market multiples of fund platform investments and add-on investments have been hitting highs.  How have those high flying 2007 vintage year funds fared 12 years on?  Can alternative investors time the market?  What does recent research show regarding results of different investment strategies? Do private equity managers manipulate their returns?   What strategies work best?  How to private equity investors incorporate their market insights into their investment commitments?  Tailor their due diligence?  Come join us our panel discusses these questions and answer yours.

Learning Objectives:   
  1. Latest research on private equity returns of market commitment strategies
  2. How private equity investors vary their investment strategies to market conditions

Career Level: All levels


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Greg Brown
​Research Director, Institute for Private Capital

In addition to his leadership as director of the institute, Greg is also the founder and Research Director of the Institute for Private Capital, an institute-affiliated research center.

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Flora Li Hedrick, CFA
Managing Director, ICMA-RC

Flora Hedrick is Managing Director of Investments. She is responsible for developing an alternatives investment strategy and incorporating alternatives into ICMA-RC's investment products and solutions. Mrs. Hedrick has more than 14 years of experience in the investment industry. ​

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Jacob Yunger 
Chief Investment Officer, Pennington Partners & Co 

Jacob Yunger is the Chief Investment Officer of Pennington Partners & Co private investment and strategic advisory firm. He also serves as the Senior Portfolio Manager and Chair of the Investment Committee for Pennington’s Alternative Income Platform and is on the Investment Committee of Kairos Real Estate Advisors, LP.

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Meera Patel, CFA
Director of Private Equity Fund Research, Brown Advisory

Meera is the director of private equity fund research at Brown Advisory. Prior to joining the firm, she was a Manager of Investments with Memorial Sloan Kettering Cancer Center in New York, where she managed investment relationships across private equity, venture capital, private real assets, hedge funds and traditional marketable funds. ​​​
2/14/2019 12:00 PM2/14/2019 1:00 PM
​Ethical Decision-Making
Exploring Additional Case Studies

CFAW is please to bring this webinar to you.

The Ethical Decision-Making Webinar is a free, interactive, case-based webinar led by CFA Institute staff that will provide participants with the framework to analyze situations from an ethics perspective.

Topics: Ethics & Integrity, Professional Standards 
Hosted by CFA Institute


Ethical decision-making webinars are free, interactive, case-based webinars led by CFA Institute staff that will provide participants with the framework to analyze situations from an ethics perspective.

Each 60-minute session will include:

  • An examination of the factors that lead well-meaning individuals to make unethical decisions 
  • An explanation of how to apply a framework for analysis of ethical dilemmas common in investment practice 
  • Several case studies involving real-life situations with the opportunity for participants to vote on the appropriate conduct 
  • A facilitated discussion of those studies that allow participants to apply ethical framework
Exploring Additional Case Studies builds on the material from Introduction to Ethical Decision-Making to apply the ethical decision-making framework to additional case studies. We recommend participating in Introduction to Ethical Decision-Making before registering for Exploring Additional Case Studies. Both live programs are repeated on a recurring basis.

Participation is free and available globally. The audio portion of the webinar is provided through VOIP (Voice over Internet Protocol). To participate in a session, you must have access to a computer with speakers or headphones.

Upon registration, you may also participate in the webinar through the Adobe Connect Mobile App for Apple and Android phones.

1 CE including 1 SER   

CFA Institute members can claim CE credit by providing their CFA Institute ID number when registering. 


Director, Ethics and Standards Education, CFA Institute

Jon Stokes is the Director, Ethics and Standards Education at CFA Institute. His responsibilities include, design and creation of on-line ethics education, development and maintenance of the CFA Institute Code of Ethics and Standards of Professional Conduct, and the design and management of the CFA Institute Ethical Decision-Making and Giving Voice to Values education programs. Stokes holds a JD degree.

Glenn Doggett,  CFA 
Director of Professional Standards, CFA Institute

Mr. Doggett is a director of professional standards for CFA Institute. His responsibilities include providing member guidance in applying the ethics and standards of practice policies, supporting related educational and public awareness activities, and working with the Standards of Practice Council of CFA Institute on its initiatives. Previously, Mr. Doggett, as a member of the CFA Institute Financial Reporting Policy Group, represented membership interests regarding reporting and disclosures initiatives, including XBRL.
2/19/2019 4:00 PM2/19/2019 6:00 PM

​The Future of Custodial Business

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When taking inventory of an RIA's business partners, the list may include technology providers, fund managers, research companies, compliance consultants, and headhunters. But perhaps the business partner RIAs most strongly rely upon is their custodian. Custodial services have, for years, been perceived as mostly "free" with revenue generated from transaction fees, cash spread, t​echnology services or by selling peripheral products. As technology such as Blockchain continues to permeate into traditional transactional services, how will custodians maintain their ability to both monetize and deliver a secure, reliable and valuable service to its clients? 

On Tuesday, February 19th, come explore this topic with us as we introduce a panel representing the biggest players in the custodial world today such as Fidelity, Charles Schwab, and more. We will discuss current state as well as how technological and legislative shifts may disrupt or enhance the relationship between the custodian and RIA firm for better or for worse.

Learning Objectives:​
  1. ​​​Better understand the services custodians provide
  2. Learn about the threats and opportunities to the business
  3. Decide how to best partner with a custodian to prepare for potential changes in the business
Who Should Attend:
  • CEOs, CFOs, and COOs
  • RIA Employees
  • Wealth Managers
2/19/2019 6:00 PM2/19/2019 8:00 PM

​You​'re invited to the Women's Investment Network's (WIN) monthly meeting. This event that is hosted every third Tuesday of the month in DC, and is a great opportunity to meet and network with other women in the investment industry in a relaxed social setting.

3/14/2019 8:00 AM3/14/2019 4:00 PM

Advanced Excel for Data Analysis

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Course Goals & Overview: 

This course focuses on how to effectively and efficiently utilize Microsoft Excel for data analysis. A financial analyst will not only use Excel to build financial models, but also to crunch a large data dump. Learn how to minimize as much manual labor as possible, thereby saving time and performing more detailed analysis quickly. Apply commonly-used formulas in new and different ways; uncover often over-looked Excel formulas; streamline number crunching and analysis via functions and tools including pivot tables, sumif, sum+if, transpose, working with arrays, vlook-up, subtotals, and regression analysis; enhance your spreadsheets with drop-down boxes, data validation techniques, automation of alternate row shading; take Excel to the next level with emphasis on automation.

Learning Objectives:
  • ​Learn how to minimize as much manual labor as possible in data analysis 
  • Learn to use the most overlooked Excel formulas that will make your life easier 
  • Learn powerful functions built in Excel that streamline your analysis
Course Overview:

  • ​Master Excel shortcuts via formatting & analytical exercises encompassing efficiencies, shortcuts & sensitivity analysis
  • Data integrity techniques: understand how Excel implodes when you don’t maintain integrity of your raw data
  • Learn different “switches alternatives” (if, choose, offset and toggles ) to build more robust analyses
  • Understand why IF statements are the second root of all evil in Excel and why they should be avoided at all costs
  • Learn data validation techniques to dummy proof your model and provide additional error checking in your analysis
  • Add some spice to your Excel analysis and models using dropdowns and how to automate options and scenarios
  • Automate alternate row shading in a table of data using complex conditional formatting 
  • Fully automate vlookup to streamline tedious analysis while understanding the limitations of vlookup
  • Understand why OFFSET(MATCH) is vastly superior to vlookup and why we discourage use of INDEX function
  • Pivot Tables and Pivots on Steroids: summarize and dissect large amounts of data as well as calculated fields
  • Truly unlock the full power of Excel by utilizing ARRAYS simplify complex calculations
  • Learn how to use the transpose array function without static copy paste special transpose as values
Please Note: Participants will need to bring a laptop with them to the course.
3/27/2019 6:00 PM3/27/2019 10:00 PM

2019 CFAW Annual Dinner

The 2019 Annual Dinner will be held at The Ritz-Carlton, Washington, D.C. Each year, the Society hosts an Annual Dinner, which is our most prestigious event of the year and routinely sells out. It has become the “who’s who” event for the Washington, DC financial investment industry. Over 400 investment professionals attend, representing leading asset managers and advisors, corporations, institutional investors, regulatory agencies, and international financial institutions in the Washington, DC metro area. 

We are excited to announce that this year’s Annual Dinner Keynote Speaker is Barbara G. Novick, Vice Chairman of BlackRock.

Barbara G. Novick
Vice Chairman of BlackRock
Barbara G. Novick, Vice Chairman, is a member of BlackRock's Global Executive Committee, Enterprise Risk Committee and Global Operating Committee. From the inception of the firm in 1988 to 2008, Ms. Novick headed the Global Client Group and oversaw global business development, marketing and client service across equity, fixed income, liquidity, alternative investment and real estate products for institutional and individual investors and their intermediaries worldwide. In her current role, Ms. Novick oversees the firm's efforts globally for public policy and for investment stewardship. Ms. Novick has authored numerous articles on asset management and public policy issues. 
Click here for full speaker bio. 
Thank you Main Event Sponsor
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4/4/2019 8:00 AM4/4/2019 4:00 PM

M & A Deal Structuring and Merger Modeling

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Course Goals and Overview:

This course focuses on the mergers and acquisitions process, the basics of deal structures, and covers the main tools and analyses that M&A investment bankers and acquirers utilize. Learn about common ​​structural issues, crucial merger consequence analysis and structures and methodologies. Translate fundamentals into different modeling techniques, including the most basic and widely used back-of-the-envelope method, Accretion / Dilution, as well as a more robust combination analysis combining a Target and Acquirer's Income Statement. Learn how to sensitize basic deal structures and combination options. 

Learning Objectives:
  • Common structural issues in a transaction (stock vs. asset, 338(h)(10) elections)
  • Merger consequence analysis including accretion / dilution and financial implications of a deal
  • Build a fully functional accretion / dilution model that accounts for different transaction structures
  • Learn how to sensitize financial projections and the financial impact on a transaction
Course Sections:

M&A Deal Structuring​
  • Review of various deal considerations and deal structuring options (cash vs. stock)
  • Common structural issues in a transaction (stock vs. asset, 338(h)(10) elections)
  • Buyer and seller preferences for various deal structures and rationale
  • Tax implications of transactions based on deal structure and FASB 142 goodwill amortization
  • Merger consequence analysis including accretion / dilution and financial implications of a deal
  • Analysis of breakeven PE for both 100% stock and 100% cash considerations
  • Dive deep into merger accounting for your merger model including NOL treatment and FMV step-up
Accretion Dilution Modeling
Build dynamic merger consequence analysis (accretion / dilution) incorporating the following:

Synergies switch, cash vs. stock sensitivity
Amortization of goodwill switch (depending on purchase price allocation)
Common structural issues: Stock vs asset deals and 338 (h)(10) elections
Tax implications of transactions based on deal structure and FASB 142 goodwill amortization
Analysis of breakeven PE for both 100% stock and 100% cash considerations
Calculate pre-tax and after-tax synergies/cushion required to breakeven

Simple Merger Modeling
Construct a merger model, a simple combination of Income Statement for target and acquirer:

  • Project simple stand-alone Income Statement for both target and acquirer
  • Analyze selected balance sheet figures and ratios and multiples
  • Estimate target valuation and deal structure
  • Calculate selected Pro Forma balance sheet items
  • Combine target and acquirer's Income Statement and estimated synergies
  • Calculate cash flow for debt repayments to estimate debt repayments and cash balances
  • Compute interest expense and interest income based on pay downs
  • Calculate accretion / dilution and credit ratios

To maximize the educational value of these programs, we strongly recommend that you have an intermediate understanding of Excel. Lack of basic Excel skills will impede your ability to effectively acquire and implement the techniques and shortcuts that are presented in this program.  Our courses are extremely interactive, hands-on with intensive focus on Excel shortcuts and efficiency.

Bring a PC laptop with Microsoft Excel installed, and a working USB port (in case our email containing in-class materials gets lost in your junk/spam folder, we can distribute them via flash drive). If you can only bring a Mac, please avoid Office 2008 and ideally set up a Windows environment via Boot Camp, Parallels, or VMware.​
4/11/2019 8:00 AM4/11/2019 4:00 PM

Global Macroeconomics (and Implications on Rates)


Course Goals & Overview:

Economics – if not dismal, the “science” can certainly be frustrating. Ask yourself, do weak employment figures portend a decline in corporate profits and falling equity prices, or does it signal potential intervention from the central bank and rising equity prices? Exasperating, right?

The application of economic data to real world investment decisions often requires a secondary and even tertiary analysis of its meaning. Said differently, using economic data in the real world is more a “sentiment game” than a mathematical formula. What is a sentiment game? Keynes would describe it as a newspaper beauty contest, but more technically it’s a strategic interaction between multiple players seeking to ascertain not necessarily their interpretation of a given set of information, but the interpretation and reaction of the other players in the game.

This Global Macroeconomics course examines the practice of interpreting economic information in a way that is helpful to decision makers. We address key theoretical concepts including basic macroeconomics, the business and debt cycles, monetary and fiscal policy, and international trade; but also leave the ivory tower to examine actual economic releases and discuss not what “should” happen but what does or can happen.

The course is broadly divided into two sections: Core Concepts and Key Economic Indicators & Data Series. The Core Concepts section of the course covers introductory economic theories and models that are required background information for economic analysis. This is done through an explanation of content followed by a real world example taken from a leading financial news source. The second portion of the course looks at key economic data series including among others, employment figures, price levels, monetary policy measures, and business/consumer activity measures. We use recent economic data to make it more applicable to current investment decisions and avoid the obfuscation that often accompanies older data sets.

Students should walk away with a better understanding of basic economic theory, how it translates into real world application, and knowledge about the distribution of and meaning behind important economic indicators. This is perfect for investment decision makers looking to integrate economic analysis into their decision making process or more experienced “economists” looking for a review of key concepts.

Core Concepts:

  • Basic Macro: fundamental understanding of the global economy; aggregate supply/demand, gaps, stagflation, etc
  • Business & Debt Cycles: determinants of economic growth, Neoclassical vs. Keynesian economics and implications
  • Monetary and Fiscal Policy: monetary vs. fiscal policy impacts and trading implications for rates trading desks
  • International Trade: comparative advantage and impact of trade treaties on trading strategy
  • Balance of Payments and FX: impact of balance of payments and foreign exchange trade strategies

Key Economic Indicators & Data Series:

  • Understand what each indicator is, importance of and strengths and limitations of each of the following:
  • Business Activity: business outlook, durable goods & factory orders report, production, capacity utilization and others
  • Employment: employment cost index, employment situation, jobless claims report and related employment figures
  • Real Estate: existing home sales, housing starts, new residential sales
  • Prices: consumer price index, headline vs. core, producer price index
  • Monetary: Federal Reserve Beige Book, Fed communications and signaling, money supply, commercial banks
  • Consumer: consumer confidence index, consumer sentiment index, consumer credit report, personal income
  • International and Output: international transactions, GDP, productivity and costs
  • Other: commodities, 10-year government bonds, currencies, other miscellaneous indicators
5/21/2019 9:00 AM5/22/2019 5:00 PM

​ Introduction To Data Science & Python for Finance

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The amount of data available to organizations and individuals is unprecedented. Financial services sectors, including securities & investment services and banking, have the most digital data stored per firm on average. Finance companies that want to maximize use of this available data require professionals who have a keen understanding of data science and know how to use it to solve meaningful business challenges.

This two-day, hands-on course provides a structured teaching environment where attendees learn the Python programming language as a powerful tool to conduct robust data analyses on finance-related data sets. At the end of the workshop, course participants will have applied the Python programming language and essential data analysis techniques to practical programming exercises to gain experience solving challenging finance-related problems.

Specific area in finance where data science skills acquired from this course can be effectively applied include: sentiment analysis, advanced time series analysis, risk management, real-time pricing and economic data analysis, customer segmentation analysis, and machine learning algorithm creation for financial technologies.

No prior programming experience required.

Learning Objectives:

  • Learn basic foundations in programming and data science
  • Receive an overview of state-of-the-art data science and machine learning methods
  • Discover how finance professionals can use data science to solve real-world problems
  • Understand the advantages of data science and specific analytical methods
  • Obtain hands-on Python programming experience
  • Understand effective data visualization techniques using Python
  • Ability to hit the ground running with executing core data tasks by the end of the course
Who Should Attend?

  • Investment professionals
  • Quantitative traders
  • Event-driven fund managers
  • PE/VC investors
  • Traditional asset managers​
  • Fintech entrepreneurs and/or product managers
  • FP&A and strategy professionals at corporations
  • PE portfolio company operators
  • Private wealth managers
  • Economists
  • IT and tech professionals at financial institutions
  • Management consultants​
Please Note: Participants will need to bring a laptop with them to the course.
6/26/2019 9:00 AM6/26/2019 5:00 PM
Advanced Data Science & Machine Learning 

with Python for Finance

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Course Goals and Overview:

This hands-on data science course is a sequel to the Introduction to Data Science for Finance workshop. Advanced Data Science for Finance will provide an overview of modern machine learning algorithms that analysts, portfolio managers, traders and chief investment officers should understand and in a context that goes beyond a broader level introductory class in data science. Classification methods are touched upon in the introduction course, but the Advanced Data Science for Finance course focuses exclusively on this highly demanded and rapidly adopted segment of data science and machine learning.

This course will explore advanced classification methods including neural networks and decision trees which are among the most effective data science techniques. This workshop also provides an introduction to deep learning, a technique which has significantly increased the performance of machine learning algorithms over the last years and is heavily used in the financial services industry. Deep learning utilizes algorithms and methods that perform in a similar manner to the human brain. According to Gartner, 80% of data scientists will be competent in deep learning and deep learning will be utilized in a much larger role in different forms of predictive analytics across all functional areas of business including finance and markets.

At the end of the workshop, participants will be comfortable applying the Python programming language to build common classification algorithms and evaluate & interpret their accuracies in the context of finance.

Learning Objectives:

  • An overview and specific focus on core classification methods and how to use them to solve real-world problems in the finance industry.
  • Aims to provide attendees with a high level understanding and working knowledge of highly coveted artificial intelligence areas including deep learning and neural networks and their direct application to the field of financial analysis and capital markets.
  • Provide attendees that work in the finance industry with the ability to evaluate and select from a variety of classification methods and tools as these techniques continue to be adapted and implemented at an ever increasing rate.
  • Further and more advanced hands-on Python programming experience beyond the introduction course.
Who Should Attend:

  • Individuals working with or needing to understand machine-learning algorithms, specifically classification methods.
  • Graduates of the Introduction to Data Science for Finance course. The introduction course or equivalent is a prerequisite.
Course Sections:

Review of Core Data Science Methods

  • Supervised vs. Unsupervised learning, Classification, Regression, Clustering, Dimensionality Reduction, Ensemble, etc.
Selecting Informative Attributes

  • Information gain and entropy, overfitting/generalization
Decision Trees &  Random Forests

  • What is it
  • How to do this in Python?
  • Coding Challenge
K-Nearest Neighbors

  • What is it
  • How to do this in Python 
  • K-Nearest Neighbors Coding Challenge
Support Vector Machines

  • What are they?
  • How to do this in Python - example
  • SVM Coding Challenge
Neural Networks

  • What is it
  • How to use this in Python with an example
  • Neural Nets Coding Challenge 
Deep Learning

  • Why the hype?
  • How to get started with deep learning
Evaluation of Classification Methods

  • Accuracy, confusion matrix. ROC, AUC, Precision, Recall, etc.
Final Project

  • Given a dataset and a classification mandate, attendees have to run these different classification models and figure out which one is "best"
What is Needed from You:

  • Participants will need to bring a laptop with them to the course.
  • It is recommended that participants have previously taken Introduction to Data Science for Finance as a prerequisite. If you have not been able to take this course, please contact the instructors at


The views expressed by the speakers do not necessarily reflect the views of policies of CFA Society Washington, DC, its Board of Directors or its members. CFA Society Washington,​ DC does not guarantee the source, originality, accuracy, completeness or reliability of any statement, information, data, finding, interpretation, advice, opinion, or view presented, nor does it make any representation concerning the same

​Contact Us
CFA Society Washington, DC
1200 Eighteenth St. NW, Suite 700
Washington, DC 20036
Phone: +1 (202) 872-4310
Fax: +1 (202) 315-3332