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  • CISI launches ethical AI certification

    CISI launches ethical AI certification

    • Education competition begins

    The Chartered Institute of Securities and Investment (CISI) has launched a new certificate course in ethical artificial intelligence (AI).

    The ethical AI learning programme  is part of the 695th initiatives of Lord Mayor Professor Michael Mainelli in the City of London on his mission ‘Connect to Prosper’. It is driven to support the society and individual clients and consumers. The ethical AI programme is being run under the CISI Education Charity.

    Also, CISI’s Global Educational Trust Competition has started. It celebrates excellence among undergraduate and postgraduate students annually.

    Chief Executive Officer, Chartered Institute of Securities and Investment (CISI), Tracy Vegro said the launch was due to feedback received from members.

    “We are responding to member feedback. They told us it is critical for the ethics of AI to be understood to boost innovation and integrity side-by-side. AI systems rely on large amounts of data, which raises privacy concerns.

    “Without ethical guidelines and regulations in place, the misuse or mishandling of data can result in harm to individuals or groups. There are also large and widely misunderstood and misinterpreted implications for professionals working in financial services,” Vegro said.

    She said the CISI ethical AI programme is an innovative new approach for the financial services sector, notably for those working in capital markets, wealth management, financial planning, compliance and operations.

    She added that with completion of the course, a certificate to demonstrate competence is issued without having to sit for a full examination.

    Country Representative, CISI Nigeria, Dr John Osuoha, explained the modalities for the education competition noting that the competition is open to only students of CISI.

    “Any student from any university can participate by first registering as a student on their own or through partner universities. Winners will go home with huge cash awards while the global winner in addition to cash awards will have return ticket to London and will have the opportunity of working with the CISI in its UK offices.

     ”Students of CISI are enabled to write some certification examinations with global acceptance such as courses in risk management, global compliance, wealth management, securities derivatives, Islamic finance etc. We also have a new certification in Artificial Intelligence. All our courses are offered at deep discount to Nigeria Students,” Osuoha said.

     According to him, CISI is setting up tests centre at Covenant University and other leading Universities in Nigeria.

     Last year, the awards were expanded to overseas countries and this led to the emergence of Oluchi Ajieh from the University of Lagos as the overall winner in Africa while Favour Dibia of Covenant University, Ogun State was the runner up. The winners were celebrated in Lagos during which the Director, CISI Global Business Development, Kevin Moore, commended them for making Nigeria proud and advised them to strive for more excellent performance.

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    Minister for AI & Cyber, Department for Science, Innovation and Technology, Viscount Camrose, said there was no doubt AI has the capacity to supercharge economy, but to reap the benefits of this extraordinary technology, people must first understand and mitigate the risks AI poses – including,  making sure it is safely and responsibly used in the financial services sector.

    “This programme will help to increase accountability and unlock further opportunities for integration of AI technology across the sector and beyond,” Camrose said.

     The short, online, jargon-busting modules involve 12 hours of study and will be essential for anyone who needs to understand the fundamental ethical and management issues in the deployment of AI in finance. It is available to both CISI members and non-members.

     ”Designed by a global team of experts, these new online modules cover the main definitions of AI, the ethical challenges, global developments and how regulators are reacting. They will help everyone working across the financial services sector, from individual client relationships to global capital markets, across a range of experiences including those new to our profession to accomplished board professionals.

     ”With our initiative, we are trying to ensure that financial and professional services practitioners understand that AI systems need to be transparent, accountable and inclusive. As AI becomes more advanced and widespread, there are growing concerns about issues such as bias, transparency, accountability, safety – and employment trends. A number of major global asset and wealth managers, banks and insurers have approached the CISI regarding its new Certificate in Ethical Artificial Intelligence.

     ”The CISI’s recent Annual Integrity Debate featured an ethical dilemma regarding the use of AI. The CISI will be running a series of webinars on the issue of ethics in AI, including this with the FCA 22 November,” CISI stated.

  • CISI builds capacity on sustainability compliance

    CISI builds capacity on sustainability compliance

    The Chartered Institute for Securities & Investment (CISI), United Kingdom, has developed an education pathway covering sustainable and responsible investments, green finance and climate finance.

    CISI, a leading global investment and wealth management  body, has set up a dedicated portal of learning materials,  following increased demand for skills on how to  monitor corporate organizations’ compliance with disclosure of  their Environmental, Social and Governance (ESG) activities  to build stakeholders’ trust  and improve risk management

    Speaking at CISI Nigeria forum in Lagos recently, Assistant Director, Global Business Development, CISI, Helena Wilson stated that whilst sustainable investment products would be the norm for Millennials and Gen Z, the financial services sector should be well-positioned  to attract a diverse and innovative set of new talents. 

    “Part of this will involve promoting the important role that the sector has to play in financing a just transition and the range of jobs, including risk, compliance, operations, product development and deal making.  The sector is an attractive place to start a career.”, said Wilson.

    Wilson expanded on the presentations of Michael Mainelli  and Lord Mayor Elect that CISI would be launching a Certificate in Ethical AI next month. 

    According to her, whilst AI is certainly a disruptor as the nature of jobs will change, this only makes it more important for individuals to maintain their relevance and skills and the CISI Learning Portal is a valuable place to do this.

    President , CISI Nigeria, Ijeoma Onwu explained that efforts to grow membership, especially youths, development of  members’ capacity through constant training and Continuing Professional Development (CPD),  had been yielding positive results. 

    Onwu urged the participants to take advantage of the Forum to deepen their knowledge of Environmental, Social and Governance (ESG) issues  to advise organizations on the benefits of their  implementation for enhanced stakeholder engagement .

    “Chartered Institute for Securities & Investment (CISI) has been making progress in building our members’ base. Our certification makes one a global professional and open doors  of employment in over 75 countries worldwide. As businesses are transforming and re-aligning with technology, it is important for every organisation to pay attention to the development in the areas of environmental risks, social and governance issues that can impact organization’s long term sustainability.”, said Onwu.

    Country Representative, Nigeria, Dr John Osuoha, noted that the Members’ Forum provided opportunities for networking among members. According to him, CISI provides learning opportunities for its members at no cost.

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    “CISI offers numerous benefits to members all free of charge.  These include CPDs, CISI TV and Certificated Professional Refresher Courses. There are also numerous specialist qualifications in areas such as Wealth Management, Risk Management, Financial Compliance, Derivatives, Securities, Corporate Finance, Financial Planning ,, Islamic Finance etc, ” Osuoha said.

    Speaking on ” ESG Development and Emerging Trends in the Securities and Investment World”, a Member of CISI in Nigeria, Sola Oni, stressed that “ESG investing will continue to rise as investors and organisations have begun to look beyond profits by appreciating the essence of non-financial considerations as risk aversion measures .

    Some of the Representatives of CISI Nigeria commended the Institute for  creating opportunities for its members to upscale their skills. The event was attended by some Senior Staff and Students  of University of Lagos and Covenant University, Otta, Ogun State.

    Topics discussed  by different speakers at the Forum included:  ” Understanding the new CISI Learning Platform ;  How financial services is embracing opportunities and challenges of Artificial Intelligence (AI) and Indigenization as a Panacea for Impactful Economic Growth and Development in Nigeria.”  

  • CISI launches Nigerian advisory council

    The Chartered Institute for Securities & Investment (CISI) has launched its Nigerian National Advisory Council (NAC) to foster the activities of the global investment certification body in Nigeria.

    The NAC was established with the dual purpose of supporting CISI membership in Nigeria and of guiding the CISI’s activities in Nigeria in developing professional standards across the finance profession.

    The CISI Nigeria NAC, whose inaugural President is Mr Bola Ajomale, Chief Executive Officer of NASD OTC Securities Exchange Plc, is composed of senior CISI members within the Nigerian financial markets.

    The launch of the NAC in Lagos was followed by the inaugural CISI Nigerian Members’ Forum hosted at the Eko Hotel. Gguests included Mr Adedapo Adekoje, President, Chartered Institute of Stockbrokers (CIS), Mrs Olubukanla Rufai, Assistant Director, Securities and Exchange Commission (SEC), and Mrs Sa’adatu Faruk, Head, Marketing, Consultancy, Research and Publications, Nigerian Capital Market Institute (NCMI).

    Ajomale welcomed all delegates and Mr Praneet Shivaprasad, Senior International Manager at the CISI. CISI’s two Nigerian accredited training partners (ATPs), Kedari Capital and X-Academy, provided information on how individuals can register for training on CISI qualifications with them.

    Adekoje said CISI will enable Nigerian members to network with the CISI’s members around the world. Rufai spoke about her pride in being a member of the CISI, and of the importance of the institute’s work in the area of integrity and ethics. Faruk noted the value of an organisation like the CISI introducing international standards into the Nigerian capital markets, whilst mentioning the forthcoming partnership between CISI and NCMI to issue CISI qualifications.

    Shivaprasad said he is always incredibly impressed by the commitment of Nigerians to education and qualifications.

    “Nigeria has embraced CISI qualifications and membership, and we are therefore delighted to be able to launch a Nigeria National Advisory Council to support members in Nigeria. We look forward to working closely with our partners and the regulator to successfully blend both Nigerian and global professional standards for the enhancement of the Nigerian capital markets,” Shivaprasad said.

    CISI is the 45,000 strong global not-for-profit professional body with members in over 111 countries. It has been working in Africa since 2012 offering examinations and membership across the continent, with regulatory approval for its examinations in 10 countries.

     

  • CISI lauds Anchoria on best professional standard

    International professional body, Chartered Institute for Securities and Investments (CISI) has commended  new MD/CEO of Anchoria Investment and Securities limited, Babatunde Dada for its best professional standard.

    Senior International Manager of CISI, Praneet Shivaprasad, who led the CISI team to Anchoria House during a courtesy visit, said they are identifying with Dada, who is an associate member of CISI, as an excellent ambassador of the body.

    “When we received news of him becoming MD/CEO of Anchoria, it means a lot to us and this visit is to congratulate him and to maintain that relationship with him. It is great to see a CISI associate member as the CEO of a firm in Nigeria and also an excellent ambassador of CISI. “

    Dada becomes the new MD/CEO of Anchoria last October.

    Shivaprasad informed that following its partnership in Nigeria with Chartered Institute of Bankers of Nigeria (CIBN) and Chartered Institute of Stockbrokers of Nigeria (CISN) in 2015, more individuals in the investment firms have taken advantage of CISI qualification.

    “In the last five years we have been working across Nigeria to develop professional standards and to support the capital market. Nigeria is a leading economy in Africa and we couldn’t be working in Africa without being in Nigeria. We have partnered with CIBN and CISN to offer CISI qualification and membership to their own qualified individuals and to add international element to what they have done locally with their professional bodies. In addition, we have been trying to reach out to local firms to try to take up the professional qualification by their employees.”

    I am also encouraging some of our members to take advantage of this and possibly use CISI materials as benchmark for our human capacity development.

    In his reply, Anchoria MD/CEO said CISI qualification, “increases your   knowledge and confidence on the job and makes you employable anywhere in the world. For example, if I have to move to the U.K or UAE, It would be easy for me to adapt with my CISI qualification.”

    Similarly, Nigeria representative of CISI, Dr John Osuoha, said the body will host a forum for Nigeria members today at Eko Hotels and Suites. “This would be an opportunity for our members in Nigeria to come together and network and to see the face of CISI as well. Additionally, we would be launching a Nigeria advisory council made up of CISI members to supervise CISI activities in Nigeria and promote what we are doing in industries so that international standards can be shared locally.”

  • Portfolio Institute signs MoU with CISI

    Portfolio Management Institute (PMI) Nigeria, has signed an agreement with Chartered Institute for Securities and Investment (CISI), United Kingdom (UK).

    Its President, a former Managing Director of FUG Pension, Usman Suleiman, at the signing ceremony in Lagos, said the agreement will open the gateway to mutually rewarding and beneficial relationship between CISI and PMI.

    He said professional collaboration if well managed and sustained, can engender immense mutually beneficial reward for the parties.

    He stressed that he has no doubt considering the wealth of experience of all the parties involved, the collaboration will surely not only be of great value addition to our collective members, but also lift us up to higher levels of our collective goal achievements,” he said.

    He said it is a thing of joy for members of PMI joining the global professional community, which will avail them the opportunity of being identified with global best practice in investment and portfolio management.

    He noted that professional institutes, colleges and universities collaborate on initiatives that individual institutions might not be able to accomplish alone, adding that collaboration results in the creation of a formal entity with its own staff, budget and governance.

    He said: “Colleges and universities use collaboration to grow their influence with commercial providers and in this way, benefit the development of learning ecosystems. This is PMI’s focus and it is optimistic that the arrangement will be of immense benefits to membership and other stakeholders at large.

    “The business of banking and finance including investment and portfolio management, is of utmost trust and confidence, which should not be breached in whatever form, hence, the imperative of continuously sustaining professionalism and ethical behaviour. The Institute is putting in a lot of effort at repositioning and ensuring aeffective delivery of membership services and realisation of utmost professional value to members.

     

     

     

  • Stakeholders seek support for capital market practitioners’ bill

    Stakeholders seek support for capital market practitioners’ bill

    The Chartered Institute of Stockbrokers (CIS) and other stakeholders in the capital market have launched a broad consultation framework to drum up support for a new bill that seeks to broaden the scope of certification of the CIS through the creation of the Chartered Institute of Securities and Investment (CISI).

    The CISI bill, which is being sponsored by former Chairman of the Senate Committee on Capital Market, Senator Ganiyu Solomon, intends to replace the law that set up CIS and bring other capital market operators under the supervision of CISI.

    Sources familiar with this development said leading capital operators have been engaging in intense consultation and harmonisation of divergent views with the intent of achieving a common market position that will facilitate quick passage of the bill.

    While most operators, especially professional brokers, investment managers and other currently certified operators, saw the need to have a new regulatory framework that subjects all operators to certification by a market-focused institute, there were fears from some stakeholders that CISI may unduly favour stockbrokers, who are currently the most organised group in the market.

    The source said efforts were being made to persuade all stakeholders to look at the overall benefit of CISI to sustainable the growth and development of the capital market.

    “We are very optimistic the bill will sail through, it’s in the best interest of the market. You can’t have a market where anyone can stand up one morning and start doing a function, this is one of the reasons for the previous rot in the system, it’s not safe for the market and the economy to have uncertified people parading themselves as capital market operators or to have people creating all sorts of certification standards, without bordering whether they meet global competitive standards,” the source said.

    The source said after initial consultations, several stakeholders have seen reasons for the CISI bill but the consultation would continue until stakeholders have achieved what could be termed as general market position that is strong enough to ensure hitch-free passage of the bill.

    The source noted that while the CISI bill could pass the scrutiny of law-making on its merits and strong global argument in support of its necessity, major stakeholders adopted dialogue and consultation on the grey areas of the CISI bill in order to allay fears as well as preserve the cordiality of the market.

    Some custodians and financial analysts had faulted the CISI bill on the ground that they were not consulted in the preparation of the bill.

    They had expressed concerns that the new institute may be dominated by stockbrokers and it may not adequately cater for intricacies and challenges faced by the other trade groups.