Accreditation body hopes to drive awareness and help address unmet industry need with latest board hire
The world’s only financial modelling accreditation body is looking to increase awareness and grow its impact across the industry as it announces a key board appointment.
The Financial Modeling Institute (FMI) has announced Paul Smith, the former president and CEO of the CFA Institute, as a board member and senior advisor.
"The FMI is addressing a large unmet need by ensuring that new hires and existing employees have exceptional financial modeling skills,” Smith said. “Employers globally are realizing that the FMI is establishing the new standard."
Smith’s is anticipated to bring significant value to the FMI’s board as he draws from his expertise and experience with the CFA Institute. A global standard-setter for excellence and credentials among investment professionals, the CFA Institute’s footprint includes 175,000 CFA charterholders across more than 160 markets.
Since its foundation 2017, the FMI has been at the forefront of raising the bar of excellence and discipline in financial modeling globally. It offers world-class accreditation programs with proctored, rigorous exams that are relevant for professionals across different financial sectors including banking, private equity, accounting, asset management, and business development, among others.
"I am pleased to contribute and I look forward to collaborating with other top finance industry experts at the FMI as we work together to advance awareness, excellence and discipline in Financial Modeling,” Smith said. “Closing the skills gap is the key to improving critical business decision making.”
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Over the years, the FMI has expanded its capacity to conduct exams for professionals seeking to sharpen their financial modelling skills. From providing in-person test in 25 countries in 2019, the institute now offers a proctored, virtual exam with candidates participating from over 50 countries worldwide.
According to Ian Schnoor, executive director of the FMI, the Level 1 Advanced Financial Modeler (AFM) exam is “the only true validation of an individual's financial modeling skills.” By participating in the institute’s accreditation programs, he said employers can expect to reduce hiring costs and ensure consistent financial modelling skill levels throughout their organizations.
"We are honored to welcome Paul to our team," said Ian Schnoor, executive director of the FMI. “We look forward to his dynamic perspective and advice which will help expand awareness that financial models have become the most important decision-making tools in finance.”
