To qualify for the CIM®designation, candidates must meet the work experience requirements. The requirements to be met by all candidates are:
Two (2) years of relevant work experience must have been gained within the last 5 years.
Candidates may have gained the experience in either a retail or an institutional role or in a role that relates to, supports or adds value to the investment management process.
Work experience may be applied if it is gained outside of Canada and meets the requirements. CSI may request further documentation for confirmation purposes.
Managing personal investments or those of family or friends does not qualify for work experience.
While the above requirements must be met by all applicants, the assessment of experience will be applied based upon the candidate’s role as either (1) Investment and/or Financial Advisors and Portfolio Managers or (2) Professionals Supporting he Investment Management Process.
- Investment and/or Financial Advisors and Portfolio Managers
As it is unusual for a portfolio manager to be functioning in both a retail and an institutional role, the competencies specific to each role have been taken into account for the assessment of experience to earn the designation. As such:
- The CIM work experience evaluation for advisors or portfolio managers will be assessed using the 11 competencies and 36 of sub-competency (as set out in the CIM® Professional Competency Profile) that consider both retail and institutional competence requirements.
- The candidate for the CIM® must have performed a minimum of 22 of the sub-competencies included within the CIM® Competency Profile within the last 5 years.
Work experience must be verified and candidates are asked to provide the name of the verifying individual upon application for the CIM®. Individuals qualified to verify experience are current or recent employers or supervisors. Self-employed individuals are required to provide verification from a past-employer or an individual who holds a CIM® or CFA designation and is familiar with their work. CSI may request further documentation for confirmation purposes.
A verifier will be sent a copy of the CIM® Work Experience Assessment Tool directly from CSI to be used to assess the candidate’s experience.
- Experience Requirements for Professionals Supervising, Supporting or Teaching the Investment Management Process
Roles that relate to, support or add value to the investment management process are eligible to meet the CIM® work experience requirements. These roles are essential to the professionalism of portfolio managers and may be recognized if the role is full time.
Examples of job titles that would typically qualify include but are not limited to:
- Investment Analyst
- Corporate finance officer
- Equity, fixed income or derivatives trader
- Administration Officer (Back Office Support)
- Compliance Officer
Relevant investment management experience may vary according to the level of specialization of the individual. It may include:
- Securities research and analysis experience, demonstrating an ability in, and understanding of, portfolio analysis or portfolio security selection
- Compliance or Supervision or Operational support of the investment management process
- Providing expert analysis or evaluation in support of the investment management process
- Client development as it relates to the investment management process; or
- Teaching investment management. Managing personal investments or those of family or friends does not qualify for work experience.
Professionals supporting the investment management process, must submit details on their role and relevant experience with the application and may not use the automated CIM® on-line application form. Applications must be submitted using the fax number available on the application form or by mail. Work experience must be verified and candidates are asked to provide a letter from a verifier along with the name, e-mail and telephone number for the verifying individual within the application for the CIM®. Individuals qualified to verify experience are current or recent employers or supervisors. CSI may contact the verifier for audit purposes. Self-employed individuals are required to provide verification from a past-employer or an individual who holds a CIM® or CFA designation and is familiar with their work.
NOTE REGARDING REGULATORY LICENSING REQUIREMENTS
The Investment Industry Regulatory Organization of Canada (IIROC) and the provincial securities commissions have experience requirements to be met prior to registration in a portfolio management capacity. Candidates who hold the CIM® designation will be subject to the experience requirements of these regulators prior to registration. These experience requirements may differ from the CIM® experience requirements. For further information on the experience requirements for registration please refer to the appropriate regulator's website.