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Founded by the Chartered Alternative Investment Analyst (CAIA) Association, the global leader in alternative investment education, the FDP is a first of its kind credential designed to address the need for education and standardization for industry practitioners who, in order to remain competitive, need to have a deep working knowledge of the growing roles played by big data, machine learning, and artificial intelligence in the finance industry.

"Since we formally launched the FDP Institute, the response from the industry has been universally positive," said William J. Kelly, CEO of the CAIA Association. "There is a clear need and appetite for this kind of credential. As the trends of 2019 have made very clear, the finance industry is moving towards a new model that sees human expertise closely integrated with tech-driven approaches. To stay not just ahead of the curve but even relevant in many cases, it's imperative that financial professionals be able to show a deep working knowledge of the quant-focused side of the aisle and, by earning the FDP, this first class is doing just that."

Added Kelly, "These same professionals have a tremendous responsibility to ensure that this alternative data, and all of the related data science tools, are used responsibly under unimpeachable ethical standards."

In November, Candidates from 20 different countries sat for the exam. Residents of the Americas, APAC and EMEA were all well represented. There was a wide dispersion in experience and financial roles, including asset management, allocators and portfolio managers. The test takers' experience levels were relatively evenly split between those who have been in the finance industry for less than a decade and those who have worked in the space for a decade or more. Following is additional information on the FDP class of 2019:

Two-thirds of new FDP Charterholders are based in the Americas; with the balance evenly split between EMEA and APAC.

Approximately 10% of this class are women.

FDP Charterholders are based in both developed and emerging markets, including UAE, South Africa, Peru, Malaysia, and Saudi Arabia.

53% of FDP Charterholders are CAIA Members.

All of CAIA's largest markets, including the US, UK, Switzerland, Hong Kong, Singapore, and Canada, are represented in the first FDP class.

More than four dozen individual companies are represented in this first class.

While the majority of the new Charterholders (38%) work in asset management/finance, the class also includes allocators, investment bankers, service providers, academics, and technology providers.

62% of the FDP Charterholders considered themselves beginner level in programming; 25% are intermediate level.

Charterholders report their primary motivation for pursing the FDP Charter is career advancement, followed by continued education and personal satisfaction.

72% of the Charterholders already have one credential in the industry, and 42% hold the CFA charter.

"I wish to congratulate each of the candidates who sat for our first exam this fall," said Mehrzad Mahdavi, Ph.D. and Executive Director of the FDP Institute. "We were very pleased by the varied backgrounds and locations of this first class and are excited about the traction the FDP has generated thus far and for the future."

The FDP designation is a self-study program designed to educate financial professionals about the emerging field of data science and its practical applications in the financial sector. The FDP Charter is granted to individuals who successfully complete prerequisite requirements and pass a high-stakes exam focused on big data, artificial intelligence, and machine learning applications in the financial industry, along with standards for ethical usage of these approaches and these emerging categories of data.

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