The Chartered Alternative Investment Analyst (CAIA) Association, the global leader in alternative investment education, is today announcing the formal launch of an entirely new credential designed for financial analysts working alongside data scientists.
The FDP designationis a self-study program designed to educate financial professionals about the emerging field of data science and its practical applications in the financial sector. The FDP charter will be granted to individuals who successfully complete prerequisite requirements and pass a high-stakes exam focused on big data, artificial intelligence, and machine learning applications in the financial industry.
"Data scientists and financial professionals are now working side by side, tasked with successfully deploying and using big data and machine learning, but all too often it can seem like these groups are speaking their own languages," said William J. Kelly, CEO of the CAIA Association.
"The FDP Institute has been established to solve this challenge and provide a solid curriculum for financial professionals to gain a deeper working knowledge of data science", he added.
The FDP Institute is led by Mehrzad Mahdavi, PhD, a recognized expert in the transformative role of technology across a wide range of businesses.
He is joined by an accomplished team of finance and technology experts, including Hossein Kazemi, Ph.D., Senior Advisor to the CAIA Association, Kathryn Wilkens, Ph.D., Advisor to the FDP Institute, and Satya Das, CAIA, CFA, Advisor to the FDP Institute, who have developed an extensive curriculum.
"Data science is having a transformative effect on the finance industry and having an understanding of these technologies has become a fundamental need for those who want to succeed in this field over the long term," said Dr Mahdavi.
"Data-driven decision making is no longer on the horizon.It is here, and we've designed the FDP program to help professionals stay competitive as the rate of change only continues to increase", he added.
An advisory board and curriculum committee, comprised of global leaders in the data science space within the financial services industry, oversees the FDP curriculum and exam (full list below).
"Investors have been using data for as long as they have been investing, but the concept of big data in the hands of the more sophisticated allocator is now becoming much more commonplace and, in many cases, it is a data scientist who is doing the analytics using machine learning tools across numerous types of data sets," said Joseph Simonian, Senior Investment Strategist at Acadian Asset Management LLC and Co-editor of the Journal of Financial Data Science.
"The analyst must have the knowledge, vocabulary, and courage to challenge these findings systematically in order for these types of investment opportunities to become part of a cogent investment process. The launch of the FDP Institute and the FDP designation is both timely and appropriate", he added.
Those interested in pursuing the FDP designation can visit their website for more information and to obtain the prerequisite and the FDP exam requirements.
The FDP Institute has selected an international list of prerequisite content providers and will continue to broaden this list to enable more choices for candidates. The FDP exam for 2019 will be available this November for those who successfully complete the prerequisite program.
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