Cefa – Certified European Financial Analyst

Aalto University School of Business

How long?

  • 13 days
  • blended

Aalto University School of Business

Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Business Analytics

Business Analytics courses will introduce you to a popular and diverse profession. A business analyst is a specialist in many IT fields as well as in ...

Read more about Economics

Regardless of your specialization, economics surrounds you everywhere, and at some point in time, it will be necessary for you to understand the basic...

Read more about Finance

Finance is an integral and most important component of any business, so everyone needs to improve their competence in this area. Finance courses will ...

Read more about Marketing

Marketing courses will plunge you into the vast field of marketing. In these courses, you will learn a variety of topics that cover each stage of runn...

Reviews

Comprehensive course analysis

Unbiased reviews from past participants
Global companies alumni of this course worked for
Positions of participants who took this course
Countries where most past participants are from
FREE
Individual needs analysis

Who should attend

The CEFA program is designed for investment and financial professionals who wish to develop, supplement, or maintain their analytical skills.

The program is particularly aimed at experts involved in financial analysis, asset management, pension funds, life insurance, wealth management, financial research, corporate finance, financial journalism, and financial legislation/regulation.

About the course

Improve Your Financial and Analytical Competence and Become a CEFA Holder

The Certified European Financial Analyst (CEFA) program provides uniform high-level standardized training for investment and finance professionals leading to the highly respected CEFA qualification, which is accredited in 27 European countries. The program provides a valuable opportunity for all investment and financial professionals who want to develop, supplement, or maintain their analytical skills.

The CEFA syllabus covers 10 key topic areas that together enable participants to face the emerging challenges of the profession:

  • Financial Accounting and Financial Statement Analysis
  • Equity Valuation and Analysis
  • Corporate Finance
  • Fixed Income Valuation and Analysis
  • Economics
  • Derivative Valuation and Analysis
  • Portfolio Management
  • European Regulations
  • Ethics
  • National Component

The program is organized by the Finnish Association of Financial Analysts in cooperation with Aalto University Executive Education Ltd. The umbrella organization for the CEFA program is the European Association of Financial Analysts (EFFAS). CEFA programs have been organized in Finland for more than 20 years and have been completed by more than 400 investment professionals.

Participants who pass all the required examinations and have the required work experience will be entitled to use the CEFA title.

  • The program provides you with uniform high-level competencies and entitles you to use the well-known CEFA title.
  • CEFA programs have been organized in Finland for more than 20 years and have been completed by more than 400 investment professionals.
  • Successful completion of the CEFA program will earn you 13,5 European Credits towards our Aalto Executive MBA or Aalto MBA programs.

Benefits

The CEFA program gives you comprehensive and extensive competencies to perform demanding analytical work. The program offers new tools to the financial sector for combining theory and practice and helps ensure the quality of future work.

Get a comprehensive picture of financial sector dependencies and relationships

Expand, deepen, and renew your professional skills

Earn the right to use the highly regarded CEFA title

Grow your network and share experiences with your financial professional colleagues

Contents and Schedule

The CEFA program consists of four modules with a total of nine training days. The modules are structured according to EFFAS requirements. Each of the first three modules includes pre-readings, three training days, and self-study. The fourth module is implemented as independent study.

Successful completion of the CEFA program will earn you 13,5 European Credits towards our Aalto Executive MBA or Aalto MBA programs.

Program Structure

  • Pre-module period Individual preparation and pre-readings
  • Three-day modules Intensive face-to-face sessions with Aalto EE and Aalto University instructors
  • Post-module period of 4 weeksIndividual preparation and study for exam

Modules and Examination Days

CEFA 1

CEFA 1 module covers following themes:

  • Financial Accounting and Statement Analysis
  • Equity Valuation and Analysis
  • Corporate Finance

The objective of this module is to familiarize with and refresh basic understanding and use of financial statements, equity analysis and corporate finance.

After completing this module, participant should:

  • Be able to read and analyze income statement, balance sheet, and cash flow statement.
  • Have a fluent understanding on a top-down equity analysis starting from macro analysis and ending up with cash-flow and relative valuation methods.
  • Understand the decisions facing the financial management of a business enterprise, such as investment decisions, payout policy, capital structure decisions, as well as mergers and acquisitions.   ### CEFA 1 Examination Day

CEFA 1 exam covers topics in CEFA 1 module: * Financial Accounting and Statement Analysis * Equity Valuation and Analysis * Corporate Finance

CEFA 2

CEFA 2 module covers following themes:

  • Fixed Income Valuation and Analysis
  • Economics

The objective of this module is to give participants a solid understanding of fixed income valuation and analysis and emphasizes the development of students' ability to analyse macroeconomic data and to differentiate between different macroeconomic policy regimes.

At the end of the module, participants should be able to:

  • Understand the practical applications of valuation and risk management
  • Describe and analyse the current state of fixed income markets
  • Understand the most important macroeconomic concepts.
  • Describe basic macroeconomic models of economic growth, employment, inflation and interest and exchange rates.
  • Use the above-mentioned models to analyse the effects monetary and fiscal policies on key macroeconomic variables and to evaluate macroeconomic trends and risks.

CEFA 2 Examination Day

CEFA 2 exam covers topics in CEFA 2 module: * Fixed Income Valuation and Analysis * Economics

CEFA 3

  • CEFA 3 module covers following themes:
  • Derivative Valuation and Analysis
  • Portfolio Management
 The objective of this module is to understand key concepts in derivative valuation and analysis and to bring participanrs up to date on central issues a portfolio manager faces when formulating and executing an investment policy.
  • At the end of the module, participants should:

  • Be familiar with pricing techniques for analyzing derivatives
  • Have knowledge of tools for valuation and analysis of various derivatives such as futures, options, and asset backed securities
  • Understand the key elements of a conceptual structure required for setting up and managing the investment policy for a midsize institutional portfolio

CEFA 3 Examination Day

  • CEFA 3 exam covers topics in CEFA 3 module:
  • Derivative Valuation and Analysis
  • Portfolio Management

CEFA 4

Self-study

CEFA 4 module covers following themes:

  • European Regulation
  • Ethics
  • National Specific Components

The objective of the module is to give the student knowledge of the European Legal Framework for Financial services and European Supervision of Capital Markets, Ethical Conduct and National Regulation of Financial Services.

At the end of the module, participants will:

  • Know the basic principles of EU law, the Legislative Acts, the Legislative Procedure and different ways to harmonize the legislation as well as the Decision Making Bodies in EU.
  • Get acquainted with the detailed content of the Regulation of Capital Markets as well as European Regulatory Bodies.
  • Understand Selfregulation and different kinds of Ethical Codes in Financial Market.
  • Have knowledge of of National Regulation of Financial Services, liabilities in the breach of Contractual obligations and about the Taxation of Investments.

CEFA 4 Examination Day

CEFA 4 exam covers topics in CEFA 4 module:

  • European Regulation
  • Ethics
  • National Specific Components

Experts

Markku Kaustia

Dr. Markku Kaustia is currently working as a Professor in the Department of Finance, aalto university , Finland. His research interests includes Finance. He is serving as an editorial member and reviewer of several international reputed journals. Dr. Markku Kaustia is the member of many internat...

Elias Rantapuska

Dr. Elias Rantapuska is currently working as a Professor in the Department of Finance, aalto university , Finland. His research interests includes Finance. He is serving as an editorial member and reviewer of several international reputed journals. Dr. Elias Rantapuska is the member of many inte...

Antti Suhonen

Antti has worked as an independent consultant and advisor to clients in the financial services sector, with a focus on alternative investments and financial markets. He also holds a position as Professor of Practice in Finance at Aalto University School of Business in Helsinki, Finland. His teach...

Michael Ungeheuer

I am an Assistant Professor of Finance at Aalto University's Department of Finance. In my research, I focus on investor behavior, asset pricing, and household finance. My work is empirical, based both on archival data and experiments. ResearchPublications Advertising, Attention, and Financial Ma...

Niku Maattanen

Niku Määttänen holds a PhD in Economics from University of Pompeu Fabra in Barcelona. He is currently research director at the Research Institute of the Finnish Economy (ETLA) and adjunct professor at Aalto University in Helsinki, where he teaches regularly. Niku’s ambition is to do rigorous res...

Sean Seunghun Shin

Dr. Sean Seunghun Shin is currently working as a Professor in the Department of Finance, aalto university , Finland. His research interests includes Finance. He /she is serving as an editorial member and reviewer of several international reputed journals. Dr. Sean Seunghun Shin is the member of m...

Videos and materials

Cefa – Certified European Financial Analyst at Aalto University School of Business

From  EUR 9 900$12,130
Add coaching to your course booking

Coaching can personalize and deepen learning for you and your organization.


Something went wrong. We're trying to fix this error.

Thank you for your application

We will contact the provider to ensure that seats are available and, if there is an admissions process, that you satisfy any requirements or prerequisites.

We may ask you for additional information.

To finalize your enrollment we will be in touch shortly.

Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Business Analytics

What will you learn from Business Analytics courses? First of all, you will learn about the profession of a business analyst, his duties, and what such a specialist does. You will get various soft skills, such as organizing teamwork, for example, acc...

Read more about Economics

When it comes to dealing with the economical side of any business process, it is essential to build a basic framework for studying market analysis, microeconomic and macroeconomic concepts, and competition models. How can an organization's objectives...

Read more about Finance

During Finance courses, you will get acquainted with a huge number of financial analyst tools and learn how to work with them. So, you will learn how to make and analyze financial reporting, calculate the main financial indicators of the company and ...

Read more about Marketing

During Marketing courses, you will learn how to develop a business idea and create the right website to promote your product. You will gain the skills to analyze your business performance and make key decisions that improve the efficiency of your bus...

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

We are happy to help you find a suitable online alternative.