Chartered Institute for securities and Investment- All you need to know

The Chartered Institute for Securities and Investment (CISI) is a professional body that sets the standard for several aspects of the financial services discipline both in the United Kingdom and across the globe.

For intending finance professionals, it is quite normal to be curious about this well-known professional body. Questions such as ‘What is CISI all about?’ and ‘Are there any special benefits of getting qualified?’ would be answered in this article as we explore key details about professional certification. So, let us dive in.

About the CISI

 The CISI was established in 1992 by members of the London stock exchange. It is headquartered in London. 

 It was endorsed by a royal charter signed in October, 2009 by her majesty Queen Elizabeth. This made it a full fledged professional body in the UK.

 CISI offers a globally recognized certification that covers areas of finance such as; Securities, Investment and Compliance. It has a global presence spanning countries across the globe including Nigeria. In Nigeria, some of the professional bodies that have signed agreements with the CISI include;

  • The Nigerian Capital Markets Institute, 
  • The Chartered Institute of Stockbrokers, 
  • The Chartered Institute of Bankers of Nigeria
  • The Association of Investment advisers and portfolio managers 

Who is the CISI certification for?

CISI qualifications are designed for people who work in the wholesale securities market. It is also designed to address the needs of the international markets.

Finance professionals that need to obtain Financial Conduct Authority (FCA) approval status in the UK would also find the CISI very useful.

How long does it take to complete the CISI qualification

There are different professional qualifications offered by CISI. How long it takes to get any qualification depends on the specific program. 

In the table below, you would learn how long it takes to complete each qualification and who the Ideal candidate is.

S/NQualificationTotal qualification timeLevelIdeal candidate
1Fundamentals of financial services101 hours2Entry level financial services professionals
2Introduction to investment81 hours3All entry level financial services professionals
3International Introduction to Investment80 study hours3New entrants in financial services
4Investment Operations certificate243 hours3Professionals working in FCA regulated roles
5Technology in Investment management81 hours3IT professionals in financial services sector
6Managing Operational risk in financial institutions142 hours4Professionals in financial risk, compliance and investment risk control.
7Diploma in investment operations425.75 hours6Investment operations professionals holding supervisory roles
8International certificate in wealth and investment management154 hours3Professionals working in wealth management roles.
9Investment advice diploma426 hours4Professionals advising or dealing in securities derivatives, retail investment products.
10Certificate in international advanced wealth management284 hours4Experienced professionals working in wealth management and private banking outside the UK
11Certificate in private client investment advice and management203 hours6Authorised and qualified advisors
12Certificate in pension transfers and planning adviceNot specified6Financial planners and wealth managers looking to specialise
13Chartered wealth manager qualification609 hours7Wealth managers, private client managers, discretionary portfolio managers
14Global financial compliance102 hours – 183 hours3Compliance staff in financial services
15Risk in financial services102 hours – 183 hours3Risk and compliance staff, corporate lawyers, finance officers
16Combating financial crime81 hours- 162 hours3Compliance officers, law enforcement, 
17Climate risk certificate5Financial services professionals interested in understanding climate risk
18Diploma in investment compliance476 hours6Professionals interested in a career in compliance
19Capital markets programme183 hours3Practitioners in securities and derivatives
20Certificate in Corporate finance162 hours3For professionals looking to work in the corporate finance sector
21Certificate in investment management284 hours4A wide range of professionals in investment management
22Diploma in capital markets508 hours6For professionals in treasury and financial control, Private equity analysis, 
23Diploma in corporate finance537 hours6Corporate financiers
24Islamic finance qualification132 hours3Professionals already working in or seeking a career in islamic finance
25Investment advice diploma426 hours4Practitioners dealing/advising on securities
26Certificate in paraplanning263 hours4Paraplanners and aspiring paraplanners in the UK
27Certificate in pension transfers and planning advice200 study hours6Financial planners or wealth manager
28Diploma in advanced financial planningCertificate in advanced financial planning  +Financial plan case studyFinancial planners with 1-3 years experience.

CISI exam structure

So, what can you expect to see in terms of exam structure when writing a CISI qualification exam? 

S/NQualificationWhat to expect
1Fundamentals of financial services30 multiple choice questions for 1 hour
2Introduction to investment50 multiple choice questions for 1 hour
3International Introduction to InvestmentComputer-based 50 multiple choice questions for 1 hour
4Investment Operations certificate
5Technology in Investment management50 multiple choice questions for 1 hour
6Managing Operational risk in financial institutions70 multiple choice questions for 1 hour 45 minutes
7Diploma in investment operationsYou have to pass the Operational risk exam (50 multiple choice questions for 1 hour), the Managing Operational Risk in Financial Institutions exam (70 multiple choice questions for 1 hour 45 minutes) and the Global Operations Management exams (narrative exam for 3 hours)
8International certificate in wealth and investment management100 multiple choice questions for 2 hours.
9Investment advice diplomaYou would have to pas the UK regulation and professional integrity exam (80 multiple choice questions for 2 hours) and Investment, Risk & Taxation exam (80 multiple choice questions for 2 hours)
10Certificate in international advanced wealth managementYou would have to pass the Economics and Markets for Wealth Management exam (80 multiple choice questions for 2 hours) and Wealth Management Practice exam ( 80 multiple choice questions for 2 hours)
11Certificate in private client investment advice and managementNarrative exam for 3 hours
12Certificate in pension transfers and planning adviceNarrative exam for 3 hours
13Chartered wealth manager qualification3 hour written exam
14Global financial complianceMultiple choice exam
15Risk in financial servicesA single multiple choice exam
16Combating financial crime50 multiple choice questions for 1 hour
17Climate risk certificateComputer-based 75 multiple choice questions for 1 hour 30 minutes
18Diploma in investment compliance
19Capital markets programmeYou would have to pass a regulatory and technical unit.
20Certificate in Corporate financeYou have to pass corporate finance regulation (50 multiple choice questions) and corporate finance technical foundations (50 multiple choice questions)
21Certificate in investment managementYou have to pass the UK regulation and professional integrity exam ( 80 multiple choice questions in 2 hours) and the Investment management level 4 exam ( Also 80 multiple choice questions in 2 hours)
22Diploma in capital marketsYou have to pass the Securities level 3 exam (100 multiple choice questions for 2 hours), Financial markets (Narrative exam for 3 hours) and Fund management ( Narrative exam for 3 hours)
23Diploma in corporate financeYou have to pass 4 exams which include;Financial reporting and financial statements analysis (40 multiple choice questions for 50 minutes), Sources of finance, capital investments and valuations (40 multiple choice questions for 1 hour), Mergers & acquisitions and market regulations ( 40 multiple choice questions for 70 minutes) and  Corporate finance strategy and advice ( Narrative exam for 4 hours)
24Islamic finance qualification100 multiple choice questions for 2 hours
25Investment advice diplomaYou would have to sit for; UK regulation and professional integrity (80 multiple choice questions for 2 hours), Investment, Risk & Taxation (80 multiple choice questions for 2 hours) and one unit of either Securities level 4, derivatives level 4 or financial planning and advice (all of which are 80 multiple choice questions for 2 hours)
26Certificate in paraplanningYou would have to pass; Investment, Risk & Taxation (80 Multiple Choice Questions for 2 hours) and Financial Planning & Advice (80 Multiple Choice Questions for 2 hours)
27Certificate in pension transfers and planning adviceNarrative exam for 3 hours

Benefits of CISI membership 

There are several benefits  to getting a CISI membership. Let us go over some of them;

  • Access to the CISI learning platform with a lot of great learning resources including videos, articles, podcasts and elearning modules.
  • A Continuous professional development (CPD) scheme to help you keep track of your learning and professional growth.
  • An opportunity to participate in networking events and webinars.
  • Benefit from the knowledge shared by other professionals
  • Use professional designations gained by passing the CISI certification exams.

Salary and job expectations

The CISI qualifications have strong international recognition and can lead to better career opportunities for finance professionals across the world, not just in the UK. But of course salaries will vary depending on the specific job role.

For people looking to start a career in finance, the CISI’s certifications are a great way to achieve this.

Is the CISI exam hard?

You can expect the exams to be rigorous. For some qualifications, preparation takes 100’s of study hours. But the pass rate varies depending on the qualification. It has ranged between 40% to 70%.

Frequently Asked Questions

Let us go over some frequently asked question you might have about the CISI qualifications

Which is better, CII or CISI?

Both the CII (Chartered Insurance Institute) and the CISI (Chartered Institute for Securities and Investments) have their merits. However, the CII seems to be the favourite among professionals in the UK but the CISI enjoys more international recognition. That being said, the preference of UK employers for either CISI or CII qualifications vary depending on the role.

Is the CISI better than CFA

The CFA is more technical in nature and can enable you to gain deep knowledge of relevant financial concepts but for professionals looking to work with retail clients the CISI is preferable. 

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