By Nate West
News Editor
The Chartered Financial Analyst (CFA) Institute has endorsed the St. Bonaventure University finance program, according to an Aug. 1 press release.
St. Bonaventure was one of just 43 schools in the United States honored by the CFA’s Recognition Program. The Recognition Program helps promote ethics-based investment education to develop serious investment professionals through university degree programs, according to an August 1 press release.
To be recognized by the CFA, a university must apply. Once the CFA confirms the programs meet their requirements, they endorse the institution, according to Bryan McCannon, chair of the department of finance.
McCannon believes this could go beyond helping and improving the image of the the finance program.
“I think this will also help recruit high school students,” McCannon said. “Parents no longer have to take us on our word anymore. We can give them the stamp of approval.”
McCannon said he doesn’t believe that one specific aspect of the finance department’s curriculum earned them the endorsement. Since all aspects must meet CFA standards, he thinks it’s a testament to the entire program.
I don’t think you could point to any one part,” he said. “There are parts of the finance education that are very marketable, but that doesn’t do anything special for them. They want to see every single class.”
According to McCannon, students who come from a CFA chartered institution are able to prove they received a quality finance education. He says coming from an externally validated institution is something students can point out in an interview.
“Suppose one of our finance majors gets an interview with someone who isn’t as familiar with what’s going on in the Finance department at St. Bonaventure,” McCannon said. “Then this provides a student the opportunity to say ‘I know I have a good finance education. I know the education our department provides is as good as any other finance department.”
This not only makes the finance program look good, but improves the image of the university as a whole, McCannon said.
He has spoken with some finance professors who are pleased with being chartered. McCannon said this gives credibility to students who praise St. Bonaventure’s quality business program.
“This shows that your background puts you in the game,” McCannon said. “Hopefully this is just another piece of the puzzle. This should be something that they can sit down and talk about.”
One of the more marketable aspects of the Departmentn of Finance is Students In Money Managemt (SIMM). McCannon says being CFA chartered will help improve the image of SIMM, along with other business groups.
“Professor Jim Mahar is very involved with the CFA,” McCannon said. “Last spring, he took some students to do this kind of case-study competition.Bonaventure sent a team to compete against Naiagara and Canisus. That event was sponsored by the CFA.”
McCannon said he and the professors did plenty of research into a CFA charter before they decided to apply.
“Before we began, we absolutely spoke to other finance professors and members of the CFA,” he said. “We wanted to know what we were getting into.”
