Russian invasion throws Ukrainians’ plans to join finance profession into disarray

Aspring finance professionals in Russia and Ukraine are facing an uncertain future, as some of the world’s leading exam bodies pull the plug on the region.

From the CFA Institute to the Chartered Institute for Securities & Investment, traditional pathways into banking, asset and wealth management have been taken away from aspiring Russian financial services workers, as aggression against Ukraine leads to a boycott from qualification providers.

“The CFA Institute cancelled all May and August 2022 exam sittings in Moscow and St. Petersburg, in compliance with sanctions,” a CFA Institute spokesperson told Financial News. “Candidates in Russia received options to defer, subject to exam schedules.”

In Russia, some 395 CFA exams were due to take place in May, and a further 161 in August. Meanwhile, the Chartered Institute for Securities & Investment has also stopped its exams in Russia.

But as Russian access has been removed, Ukrainians have felt the impact too. The CFA cancelled exams in Ukraine and offered candidates options to defer or receive refunds. Some 64 candidates were lined up for May, and another 28 for August.

The International Capital Market Association, which offers qualifications in debt capital markets and other areas of the securities market, has not had anyone in Ukraine take its exams for the past four months, a spokesperson confirmed.

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Meanwhile, the Association…

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