FINSIA

FINSIA – Financial Services Institute of Australasia (FINSIA) is a not-for-profit membership association for financial services professionals in Australia and New Zealand. FINSIA is the only professional membership body that represents the entire financial services industry across Australasia. Members include CEOs of the major banks, executives from over half the ASX 200 and today’s leading fintech entrepreneurs. The institution’s goal is to raise standards of professionalism in the financial services industry and provide resources for its members to network, build thought leadership and accelerate their careers.

History

FINSIA was established in 2005 after a merger of two Australian financial organisations: the Australian Institute of Banking and Finance (AIBF) and the Securities Institute of Australia (SIA).^[1]

The Australian Institute of Banking and Finance The Australian Institute of Banking and Finance was founded in 1886 by Henry Gyles Turner, general manager of the Commercial Bank of Australia. The institution was established when more than 250 bankers met to promote professional knowledge and sound banking practice. In its founding days, the institute was known as the Banker's Institute of Australasia.^[2]

The stated purpose of the institute was the “dissemination of knowledge on the theory and practice of banking, finance and other subjects ... the promotion of the professional status of those employed in the industry ... [and] ... the encouragement of good feeling and fellowship amongst members.”[4]^[3]

The Securities Institute of Australia The Securities Institute of Australia was founded in 1966 by Alastair Urquhart, a former chairman of the Sydney Stock Exchange.

The establishment of the SIA in 1966 was similarly driven by the need to build professionalism within the stockbroking industry. The institute’s main purpose was to bestow a qualification on employees of stock brokers and to give the public confidence in those who had studied and were members of the institute.

Structure

FINSIA is governed by a Board of Directors, which is responsible for the overall corporate governance of FINSIA, including its corporate planning.[6]

Appointed in May 2015, David Gall serves as the current board president, and Victoria Weekes serves as the current Vice President. ^[4]

Jane Endacott is the acting CEO of FINSIA and was appointed in January 2016. Jane joined FINSIA in August 2015 as Executive General Manager, Commercial and Capability. ^[5]

The Board of Directors is supported by several committees including the Audit, Finance, Risk Management, Compliance, and the Nominations and Remuneration Committee. ^[6]

The association is structured as an unlisted public company in Australia, limited by guarantee and not having a share capital. FINSIA Education is an unlisted public company, limited by guarantee and not having a share capital.

Memberships

FINSIA offers six membership levels that cater to professionals at all stages of their careers: Student, Affiliate, Associate, Senior Associate, Fellow and Senior Fellow. All members enjoy a variety of benefits that once maximised, are intended to get them on their desired career path and accelerate their careers.

Student (FIN) The student membership is for current students or recent graduates who are thinking about a career in finance, or looking to jump into their first role. FINSIA helps student members build their knowledge and connections through a members portal, career mentoring programs, weekly industry newsletters, and designatory letters to show membership of a professional community. ^[7]

Affiliate (FIN) The Affiliate membership is available for any young professional with an interest in the finance industry or looking to gain networking opportunities in the finance sector. These young professionals are given scholarship opportunities in addition to access to FINSIA events and mentoring programs. ^[8]

Associate (A Fin) Associate members have 0-3 years of experience in the finance industry and are looking for ways to progress their career to the top. With this membership, young finance professionals gain access to exclusive Young Finance Professionals events, scholarship opportunities and Regional Council representation. ^[9]

Senior Associate (SA Fin) Senior Associate members have been in the industry for 5+ years and are looking for an opportunity to grow their profiles and gain leadership skills. FINSIA provides senior professionals with exclusive event access, publishing and speaking opportunities, as well as the option to partake in mentoring programs. ^[10]

Fellow or Senior Fellow (F Fin or SF Fin) Fellow or Senior Fellow members are executives or company directors that are experienced leaders in the industry and are looking to continue their professional legacy. These members can hone their leadership skills and grow their profile by presenting at specialised seminars and roundtables, joining a Regional Council, or becoming a mentor to shape the economic future. ^[11]

Partners

FINSIA partners with a number of universities and leading institutes to forge links between industry and academia, and promote the interests of its members.

Macquarie University’s Applied Finance Centre FINSIA and Macquarie University’s Applied Finance Centre (MAFC) have partnered to provide high quality, applied finance education combined with membership of FINSIA. The partnership aims to support early-career professionals as they undertake postgraduate studies and advance their careers in the industry.

Stone & Chalk Stone & Chalk is an independent, not-for-profit Fintech hub with a key objective to help foster and accelerate the development of world-leading Fintech start-ups in Australia. It aims to attract fintechs from across the spectrum of payments, peer-to-peer, crowd-funding, automated advice, capital markets and crypto-currencies. FINSIA is a founding partner of this industry led initiative, along with VCs, corporate and government.^[12]

Asian Securities and Investments Federation The Asian Securities and Investments Federation (ASIF) is the leading association that promotes the interests of the finance and investment community in Asia and Oceania. ASIF assists the development of finance and investment professionals through the exchange of ideas and facilitating communication among the community.^[13]

With eight member bodies representing many countries in our region, ASIF supports and speaks for over 55,000 finance and investment professionals. ASIF fosters the interests of the financial service industry through improving standards of education, advocacy, and communication within our industry.

Australian Securitisation Forum (ASF) The partnership with the Australian Securitisation Forum provides FINSIA members with access to face-to-face and online professional development in structured finance at discounted rates. ASF members with substantial experience in structured finance who agree to become mentors in FINSIA's Mentoring program will be recognised for their contribution as Fellows of FINSIA. One seat on the Institutional Markets Industry Council is available to a representative from the ASF's National Committee.^[14]

Australian Information Industry Association (AIIA) The Australian Information Industry Association (AIIA) is the peak representative body and advocacy group for the ICT industry in Australia. Partnering with the Australian Information Industry Association (AIIA) increases opportunities for members to contribute to thought leadership activities, industry research and benefit from a broader professional development offering that develops skills and knowledge employers increasingly require. ^[15]

References

External links

• FINSIA website