What is CPD?
Continuing Professional Development (CPD) is the process of learning and developing your knowledge and skills whilst you work. This shows colleagues, clients and the regulator that you are committed to upholding conduct and competency within the Financial Services Industry.
As a FINSIA Member, you are required to complete a minimum of 14 hours of CPD on an annual calendar year basis. Structured (minimum 10 hours with 1 hour in Ethics) and Unstructured (max 4 hours).
Demonstrate Your Professionalism
Undertaking CPD shows that you are invested in your career, and commited to your ongoing learning.
Evaluate Your Learning
Enables you to recognise your knowledge gaps and helps you to address these.
Enhance Your Employability
CPD strengthens your personal branding, employability skills, and is a key differentiator in your professional career profile.
What does this mean for me?
As an existing member you are required to complete 14 hours of CPD on an annual basis to maintain your membership, with 10 hours minimum being structured learning - One hour must be in Ethics and Integrity. Exemptions may apply please see our FAQs.
As a new member who is not undertaking our qualifications, you are required to complete 14 hours of CPD on an annual basis to maintain your membership, with 10 hours minimum being structured learning - One hour must be in Ethics and Integrity.
Members undertaking professional development
As a member undertaking a professional qualification you are required to complete a certain number of hours of CPD per annum in order to maintain your post-nominals. These requirements vary according to the qualification undertaken and they must include an ethics component.
Download our Continuing Professional Development Policy for more information on what it means for you.
How do I gain CPD?
The FINSIA’s CPD program is designed to reflect professional requirements. All activities are categorised into two types of learning, referred to as structured and unstructured.
FINSIA will also recognise internal training and other external activities as long as it is relevant to your role and aligns with our CPD themes and knowledge areas.
Structured Learning is defined as activities with the express purpose of learning.
When you attend, watch or listen to:
- Company briefings/updates
- Exam training course
- Conference or CPD event
- Workshops/professional forums
- A verifiable webcast
When you have developed others by:
- Chairing or presenting an industry relevant event
- Being a member of industry related board, panel or committee
- Developing and assessing exam questions
- Syllabus exam panel
- Training or briefing staff and colleagues on industry relevant topics
- Writing industry articles, workbooks and journals
- Contributing towards learning materials
When you have undertaken:
- Sitting exams
- Verifiable eLearning
- Exam revision material
Unstructured Learning is defined as unplanned activities with no pre-determined learning objective or outcome.
When you attend, watch or listen to:
- Informal meeting with no pre-determined learning purpose
- Watching TV programs on relevant topics
- Unverifiable pod and web casts, and web streams
When you have read relevant publications:
- Financial Review
- The Standard
- The Insights Review
- Online news service
- Industry journals
- Educational material with specific learning outcomes i.e. AJAF
When you have undertaken:
When you have developed others by:
- Informal coaching and mentoring of staff on industry relevant topics
Gaining CPD through Education
FINSIA has a range of professional qualifications, short courses, stand-alone modules and workshops covering most areas of financial services that can help you reach your CPD requirements.
FINSIA has a range of professional qualifications covering a wide area of financial services. These cater for practitioners new to the sector, as well as experienced leaders who wish to convert years of experience into a recognised qualification.
FINSIA has a range of short courses, these are designed to support you, be flexible and caters for practitioners new to the sector, to experienced leaders who wish to convert years of experience into a recognised qualification.
FINSIA offers professional development workshops that have been designed by industry experts.
Gaining CPD through attending Events
FINSIA's extensive range of events keep you up to date with the latest insights and developments in financial services while gaining valuable CPD credits.
Managing Capital for your business: Auckland Lunch with Geoff Bascand, Deputy Governor of RBNZ and Leon Grandy Chartered Banker SF FIN, Director of Armillary Private Capital
Gaining CPD through Publications
Keep up-to-date with the latest finance news and trends via our publications and exclusive research.
Fortnightly e-newsletter to cover FINSIA Events and Research, members' opinion and financial services issues across FinTech, Innovation, Diversity and Professionalisation.
A bi-monthly publication to snapshot financial services regulatory issues and the opportunity to contribute to policy development and submissions.
The Insights Review
A monthly publication where FINSIA and ICG presents abstracts of 'open published' perspectives and research from the world's leading management consulting firms.
The Australasian Journal of Applied Finance, is a peer reviewed journal that publishes the latest technical analysis and cutting-edge research in finance.
Gaining CPD through Podcasts, Webinars and Videos
Our wide range of webinars on demand, podcasts and videos help you keep abreast of technical and current issues.
Our podcasts help you learn on the go. Whether you’re walking to work, commuting on the train, or driving the car, stay up-to-date with our informative podcast compiled by our financial experts.
Our webinars let you learn wherever you are. Even if you can’t make the live session, you can access our webinar recordings whenever it suits you.
Our videos keep you up to date with the latest insights and developments in financial services.
How do I log my CPD hours?Go to my CPD Tracker
To log your FINSIA CPD follow these simple four steps.
Log in to the member portal
Go to My CPD
Go to My CPD Tracker
Upload your achievements
Recording non-FINSIA CPD
Activities of other professional bodies or training providers will be admissible, but all CPD logged has to be professionally relevant to the member and of high quality. Members will need to demonstrate the professional relevance of an entry on their CPD log and will need to provide sufficient evidence if they are selected for audit. Please refer to the policy on Approving External CPD.
FINSIA reserves the right to decline CPD activity that does not meet its requirements. Please email [email protected] with any questions regarding the relevance of certain activities.
Frequently asked questions
Is CPD Compulsory for all FINSIA Members?
No, CPD exemptions apply to students, retired and members on a career break.
CPD is compulsory for all other members depending on their membership category and whether they hold a FINSIA professional qualification. See the CPD Policy.
I am a Financial Advisor Member do I need to undertake CPD with FINSIA?
FINSIA acknowledges that our Financial Advisor Members are under a legal obligation to complete specific Continuing Professional Development requirements under FASEA and if registered as a tax (financial) advisor requirements under the TPB.
In most cases Financial Advisors will need to complete at least 40 hours of CPD per year that comply with FASEA’s CPD standard each year of which 70% must be approved by their licensee (including a maximum 4 hours of professional reading). The minimum hours for CPD across the mandatory categories are:
• Technical – 5 hours
• Client Care and Practice – 5 hours
• Regulatory Compliance and Consumer Protection – 5 hours and
• Professionalism and Ethics – 9 hours
The FASEA requirement is over and above the FINSIA CPD requirement so if members are completing their FASEA requirements then that will result in completing the FINSIA requirement.
I am undertaking the FINSIA Professional Banking Fundamentals or the Certified Professional Banker, do I need to complete CPD?
A. For those signed up for the Professional Banking Fundamentals or the Certified Professional Banker in 2019 CPD for the year will automatically be awarded while undertaking the qualification. For those signed up in 2020 and beyond, CPD will be awarded on successful completion of each module.
Once the qualification is completed then for the graduate to maintain their post nominals (and remain a FINSIA member) they must complete a minimum of 14 hours CPD per year, a minimum of 10 of which is structured with a minimum of 1 hour in ethics and integrity and a maximum of 4 hours unstructured.
I am undertaking the Chartered Banker; do I need to complete CPD?
For the Chartered Banker (and CB by experience) there is no requirement to complete CPD while undertaking CB. Once complete to maintain their CB post nominals (and remain a FINSIA member) they must complete 35 hours per year, 21 structured and 14 hours unstructured with a minimum of 5 hours in ethics and integrity.
I have to complete CPD as part of requirements of FASEA, does FINSIA accept this?
Yes, we will accept CPD completed under the requirements of FASEA.
I am a retired member do I have to undertake CPD?
If the retired member has a CBI or CISI qualification they must undertake CPD to maintain their graduate post nominals. Retired members who have not undertaken a qualification have no CPD requirement and are able to keep using their post nominals.
I am a on a career break/parental leave do I have to undertake CPD?
There is no CPD requirement for members without a qualification, and an exemption must be applied for in writing each year. If the member, wants to undertake CPD, this will be recognised.
If the member has a CBI or CISI qualification an exemption will be granted for 1 year.
If the member has been out of the industry for more than 1 year a competency assessment is required to maintain previous qualification post nominals.
Why is FINSIA making CPD a requirement for members?
Undergoing CPD will ensure members have requisite skills, knowledge and understanding in the areas of Conduct and Competency to maintain professional standing within the Financial Services Industry. CPD positively differentiates capability and builds greater confidence in the professional standing, credibility and integrity of membership.
Will CPD be based on a calendar year?
Yes. CPD will be based on a calendar year. If a member joins within 60 days of the end of the year, no CPD requirement until the following year.
Do you pro-rata CPD?
CPD will be on pro-rata depending on the month the member joins.
Do you offer a CPD log?
Yes, all members will have access to their own personalised CPD log as part of their membership. This can be accessed via the members portal. Any structured activities with FINSIA will be automatically recorded into the FINSIA log.
Does all my CPD need to be with FINSIA?
No. FINSIA does not intend to duplicate requirements. FINSIA will recognise relevant internal training and other relevant external activities as long as it is relevant to your role. If a member already has a CPD requirement as part of maintaining their role FINSIA will determine that the CPD program meets FINSIA requirements and the CPD log already maintained can be uploaded.
Do I need to provide evidence for CPD?
Yes, any CPD outside of FINSIA activities will need to be uploaded into the CPD log. Sufficient evidence will only be required if you are selected for the annual Audit. Please see our Acceptable evidence guidelines.
Will my CPD record be audited?
Members are selected at random for audit per year.
How do I advise FINSIA that I have met my 14 hours CPD requirement?
Successful completion of FINSIA CPD requirements must be ‘self-declared’ on an annual basis via the members portal in which FINSIA activities are automatically updated and you can upload external activities.
What will happen if I do not complete CPD?
FINSIA has a non-compliance and disciplinary policy with potential consequences including loss of:
- Chartered Status
- Loss of graduate post nominals
- Loss of member post nominals
FINSIA will take every step to ensure that CPD is not onerous on our members. We will recognise organisational and external training if it relates to job role, FINSIA Knowledge Areas and/or FINSIA themes.
What activities are not allowed to be recorded as CPD?
There are number of activities that cannot be recorded as CPD, which are listed below:
- Appraisals / one-to-ones / performance reviews
- Meetings where no measurable learning has taken place
- CPD undertaken that does not cover financial related subjects
- Activities that are part of the job role, rather than a learning activity
- Social events
Can my company insist that I do more than the minimum set of FINSIA CPD requirements?
Yes, some companies have a very explicit CPD requirement which goes further than the FINSIA CPD minimum requirements. We would recommend you check your company’s requirements when undertaking your CPD. Your company’s requirements, if higher, will supersede the FINSIA CPD requirements.