Call to Action!

FISD has launched a major survey to the entire Financial Information community, which includes the worlds of Market and Reference Data plus all their associated technologies. Many of you will receive personal email invitations to respond to our survey, if you want to participate and you are in any doubt as to whether you are on our email list please just send an email to Tom Davin (tdavin@siia.net)

It will also be possible to complete the survey by simply clicking here. Please spread the word to all your friends and colleagues in our industry as the larger the number of respondents who participate then the more accurate and informative will be the data we gather.

David Anderson is also conducting a much smaller number of face to face or telephone based interviews. If you have strong or detailed views on this issue David would be very keen to talk with you. Please contact David at david.anderson@atradia.com

Background

Over the course of 2007 a significant amount of discussion took place surrounding the idea of creating some sort of certification for industry professionals. At the heart of all these discussions was the idea that it might be beneficial for both employees and employers if there was a more structured approach to recognizing the achievements of those who have attended relevant training courses.

The FISD (and its parent organisation the SIIA) was one of the main participants in those ongoing discussions and towards the end of 2007 decided to take a more proactive role and potentially become the central body for operating such a certification process.

Based on the guidance and input generated from a specific “FISD Training/Certification Steering Group” who had met several times during the second half of 2007 the idea of formally operating such a scheme was put to the full “FISD Executive Committee” who voted for a budget to properly research the potential requirement. At the same time they authorised the use of a specialist industry consultant to assist the FISD management team to take this initative forward. This was reported in the trade press towards the end of 2007.

The specialist consultant that FISD choose to deploy on this project was Atradia Consulting and specifically its principal consultant David Anderson.

Anderson had been heavily involved in the widespread industry debate during 2007 and when FISD (SIIA) decided to step to the fore of this initative it was felt by both FISD management and the Executive Committee that Anderson had the most pertinent skills, knowledge and expertise to pursue this project effectively.

The longer term aspiration is that FISD, potentially with the assistance of Atradia Consulting, can establish a vibrant and effective operation running an ongoing industry certification program. However, although intuitive and anecdotal evidence suggests that there is a demand for such an initiative it is prudent to carry out a more robust and scientific evaluation of the precise nature and size of that perceived demand. Hence the first phase of this initative is a research project.

The research project has been carefully planned by Tom Davin and David Anderson and a detailed workplan has now been approved by both the FISD Executive Committee and the Training/Certification Steering Group.

A common misconception is that this initiative is heavily about FISD planning to build up a portfolio of training courses. While FISD is encouraging third party trainers to provide industry training and they are providing logistical support in some cases. THIS project is very much about certification of that training not the training itself.

The Research Project Plan

The key elements of the research project are as follows:

Pre planning

Ø       To properly define the segmentation of the potential audience/market for this initative – this will include breakdowns

o         by organisation types e.g. buy side, sell side, vendor, exchange etc

o         by geography e.g. Europe, Americas, Asia Pac etc

o         by function e.g. Admin, Procurement, Business Analysts, IT, Developers etc  
 

Ø       To identify and pull together a representative research sample target from appropriate databases and contact lists. This will include both FISD members and non members. The sample will be statistically big enough to deliver meaningful results i.e. several hundred.
 

Ø       To define a set of hypotheses to be tested. This will include analysis of

o         What key subjects should form the headline syllabus/curriculum for any certification?

o         Differing requirements for types of certification e.g. should it just be certificates for individual training modules/courses or should there be some form of professional qualification comprising several training modules.

o         Types of training and training organisations

o         methodologies for testing e.g. on line, physical examinations etc    

Ø       From these hypotheses that need to be tested a structured questionnaire will be designed

Surveys

The survey phase will consist of two parts:

o         An online electronic survey – targeted at several hundred respondents probably using predominantly multiple choice answers

o         A smaller number of face-to-face or telephone interviews to ascertain a more detailed understanding of the overall requirements.

Analysis

Once all the surveys have been conducted and the data compiled a much clearer and more robust view of the nature and size of the demand for industry certification will be visible.

Reporting Back

A detailed report will be complied and presented to FISD management and the Executive and Steering committee probably in early June. It is hoped that we can provide an interim summary report to the FISD General Meeting on June 12^th in New York (SIFMA week). At that time the research will provide robust data and analysis upon which further operational plans can be developed knowing they are based on solid foundations not just intuitive feelings.