CISI - Powering up global financial services capability in Asia Pacific
Introduction
This month I am very excited to join the Chartered Institute for Securities and Investment (‘CISI’) as a Fellow, following the integration of the Financial Services Institute of Australasia (‘FINSIA’) members into the CISI global community, via the FINSIA and CISI Strategic Alliance.
FINSIA has been a big part of my professional life over the past 23 years, and I am looking forward to embracing the significant global opportunities being presented due to my new CISI membership.
Alongside being a member of CISI, I am also honoured to have been invited to join the inaugural Australia and New Zealand Advisory Council for CISI. The Advisory Council will play an important advisory role, providing guidance on shaping CISI’s strategy, supporting professional standards, and fostering collaboration across the financial services sector in a way that is relevant to our region.
Background
Over the past year, I’ve been watching CISI thoughtfully deepen its presence across Australia and New Zealand, and I feel genuinely energised about what this means for the finance profession in our Asia Pacific region.
For those of us who have built careers in financial services here, the industry is always evolving quickly, shaped by new regulations, environmental social governance (‘ESG’) demands, digital innovation, private capital growth, changing client expectations, new technology adoption, the lingering lessons learned from the Hayne Royal Commission and now, the challenges of recent high profile failures such as the Shield Master Fund and private credit losses linked to large hospitality portfolios.
The Australian Securities and Investments Commission (‘ASIC’) is flagging that more significant compliance regulations are on their way, and CISI is well prepared to help professionals navigate these changes via thought leadership, for example, in responding to ASIC papers such as the recently released ASIC REP 823.
CISI’s arrival into Australia and New Zealand
CISI has long championed a vision of global professional standards. Whether in London, Dubai, Mumbai or Sydney, finance professionals are increasingly called to uphold a shared set of industry values: competence, ethics, transparency and client fiduciary obligations.
CISI’s formal arrival into the Australia and New Zealand region via the FINSIA alliance feels timely, scaling FINSIA’s excellent previous work of lifting financial services standards and also helping all our new CISI members grow as professionals via a suite of excellent new learning programs from formal diplomas to a library of relevant short course professional development products.
CISI also brings a commitment to best practice, shaped by decades of professional development in the UK and across global markets. From my discussions with CISI leaders, I find it refreshing that it’s not about CISI importing a foreign model from the UK, but rather blending proven global standards from existing CISI markets, tailored for local Australia and New Zealand realities, laws and regulations.
I believe we can all learn from foreign jurisdictions where professionalism, continuous learning, and ethical culture have been embedded as part of more formal legislative rules. Increasingly, financial professional bodies and their courses are becoming mandatory to improve standards for industry participants – for example in Dubai, where the Middle East is competing with London for global capital and capability.
In the UAE it is compulsory for many individuals working in specific financial roles regulated by the UAE Securities and Commodities Authority to pass specific technical and regulatory qualifications, often administered by the CISI, to be able to work in the UAE's capital markets sector.
Mentoring opportunities and Professional Development
Another element that stands out is CISI’s offer of focussing on mentoring ‘the next generation’. I’ve been involved in around 15 FINSIA mentoring programs as a mentor. CISI’s structured mentoring framework, linking seasoned practitioners with those who are earlier on in their journey, is an extension of the kind of support system FINSIA has been providing since 2009. Our industry in Australia and New Zealand needs to retain intelligent and passionate professionals, develop international capability through training and development and nurture the next generation of Asia Pacific’s financial services leaders.
The relevant and timely CISI CPD offer will likely become a practical value-add for many of us. The speed of industry change means CPD must be more than a compliance obligation, it has to help us stay genuinely competent and confident. I believe that CISI’s global content library, paired with local insights, will strike that balance well.
It’s about people
The strength of our profession lies in our financial services community. That’s why I am pleased to see CISI investing not just nationally in Australia and New Zealand but in the states, territories and regions as well, recognising the power of face-to-face engagement. Whether it’s a breakfast session in Brisbane or a networking evening in Wellington, there’s something irreplaceable about in-person discussion. Our cities, states and regions have distinct identities and market nuances, and CISI’s regional approach seeks to acknowledges those differences.
Boots on the ground
To support face-to-face engagement in Australia and New Zealand, CISI is investing in an Australian-based team that will serve the needs of members across our two countries. A CISI Country Head is soon to be announced while other recruiting for key personnel continues at pace.
CISI CEO Tracy Vegro OBE, and David Hare, Associate Director of Strategic Partnerships & Membership Engagement were recently in Australia to meet with FINSIA members to listen and engage with our local members to gain a first-hand view of how CISI can actively support our members and our industry. I know from my discussions that Tracy and David, they are absolutely committed to building an Australia-based team to provide an outstanding local member experience. It is clear that the CISI Board are taking the Australia and New Zealand market seriously and are supporting our region with meaningful investment in resource and capability.
Connectivity
As someone who has lived in numerous countries, I appreciate the sense of global mobility and connectivity that CISI brings to our region.
Being part of a professional community that spans continents gives practitioners here in our region access to viewpoints and experiences far beyond our own immediate environment. It reminds us that although our markets may have regional dynamics, many of the challenges we face, for example, technology changes, AI adoption, capability gaps, and meeting younger consumer’s digital service expectations, are shared worldwide.
CISI’s global network makes it easier for professionals in Sydney, Auckland, Melbourne, Wellington and beyond to plug into conversations happening in London, Dubai, and Singapore. I believe that cross-border dialogue is incredibly valuable as globalisation makes financial markets seem closer and even more linked than ever.
Conclusion
Overall, CISI’s expansion into our region feels like a milestone for our profession in Australia and New Zealand and a natural extension of FINSIA’s significant work over the past 135 years. CISI brings global standards, will enhance local relevance, and augment our existing FINSIA community-focused model across Australia and New Zealand, that supports real capability growth for our members. Personally, I’m excited to see how I can help our industry continue to evolve through my CISI membership by bringing leadership, integrity, curiosity, and connection to the table.
CISI is absolutely committed to supporting members and their career progression, ensuring that members benefit from the highest standards of global professional development, recognition, and support.
For new CISI member professionals in Australia and New Zealand, integrity is not just a matter of regulatory compliance, through CISI membership and the CISI code of ethics, it is a personal commitment to act with integrity and in line with the CISI code. By joining as a global member, CISI professionals commit to a set of shared values and that commitment helps reinforce trust across jurisdictions worldwide.
I believe that the global growth and learning opportunities that CISI membership is presenting to Australian and New Zealand members is exciting and compelling. I believe CISI provides the next stage of advancing global financial services capabilities for Asia Pacific-based finance professionals.
Thank you
Thank you to the CISI London team for assistance with providing content, input and review of this blog post.
Finsia history video with a late cameo from Malini Raj and yours truly:
https://www.youtube.com/watch?v=E9cXIECCM-s&t=181s
https://www.andrewsmcneil.com/