SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION:

Postgraduate Diploma in Financial Analysis

SAQA QUAL ID	QUALIFICATION TITLE
110954	Postgraduate Diploma in Financial Analysis
ORIGINATOR
Stellenbosch University
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
CHE - Council on Higher Education			HEQSF - Higher Education Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
Postgraduate Diploma	Field 03 - Business, Commerce and Management Studies		Finance, Economics and Accounting
ABET BAND	MINIMUM CREDITS	PRE-2009 NQF LEVEL	NQF LEVEL	QUAL CLASS
Undefined	120	Not Applicable	NQF Level 08	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Reregistered		EXCO 0821/24	2019-08-19	2027-06-30
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2028-06-30		2031-06-30

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.

This qualification does not replace any other qualification and is not replaced by any other qualification.

PURPOSE AND RATIONALE OF THE QUALIFICATION

Purpose:
The purpose of the Postgraduate Diploma in Financial Analysis qualification is to deepen the understanding and skills of learners intending to follow a career in the investment management field which, apart from including the core investment competencies, will also include some unique skills sought by a particular learner.

Within this context, upon completion of the qualification, the learner will be able to:

Achieve core investment management competencies.

Specific skills that will focus on a learner's specific employment objectives.

Demonstrate core competencies in investment management.

Apply investment knowledge.

Integrate knowledge of investment and portfolio management.

Demonstrate integrated portfolio management competencies.

Advise clients on investment matters.

Evaluate investment alternatives for the benefit of the client.

Demonstrate the achievement of the second and third level learning outcomes of the Chartered Financial Analysis qualification (CFA) Institute's.

Achieve an international Chartered Financial Analysis qualification.

Rationale:
The qualification aims to meet the need for the education of investment professionals who have mastered the core competencies of the investment management discipline.

This qualification is important because in efficient financial markets the results of conventional analyses are incorporated into asset prices very quickly. Successful analysts have to use alternative approaches and different methods of analysis to be able to add value. The qualification will enable learners to build on their investment background and acquire further unique skill sets that may be in demand in the investment and financial business environment. Furthermore, it will contribute to developing a deeper understanding of share valuation and analysis, being able to apply different perspective and skill sets required by investment professionals in the modern financial environment.

Prospective learners will be able to differentiate themselves by building a unique focus. The qualification is structured to contain compulsory core modules of 54 Credits. The remaining modules are electives which will endorse flexibility. Learners may select modules to structure an individual curriculum, from related knowledge areas. Contrary to the fixed curriculum of the honours qualification, this qualification offers flexibility which provides the learner with the opportunity to achieve his/her unique competencies. This feature will present learners with a differentiated set of skills that may target specific employment opportunities. Learners from other universities that meet the investments admission requirements of the qualification may also be able to complete it, subject to learner numbers.

The qualification will enable learners who have completed a Bachelor of Commerce qualification to continue with this Postgraduate Diploma that will focus on core concepts in the Financial Analysis/Investment Management fields. The qualification's content is also be aligned with the Body of Knowledge of the higher levels (2 and 3) of the international Chartered Financial Analyst qualification. Apart from the core investment management competencies, the qualification also offers learners the opportunity to broaden their competencies in related areas such as entrepreneurship, financial management, logistics and marketing. Learners who have completed other qualifications with the required investment management background, may also be allowed to complete the qualification. This may increase the articulatory possibilities within the Higher Education landscape.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
RPL will be applied in accordance with the University's Regulation for the Recognition of Prior Learning (RPL) and Credit Accumulation and Transfer (CAT) and the RPL and CAT Procedures of the Economic and Management Sciences Faculty.

The procedures to be followed at the Faculty of Economic Sciences for RPL and CAT at a Postgraduate level as follows:

RPL and CAT on postgraduate level.

The committee reviews and assesses the evidence submitted by the learner and reaches consensus for each individual recommendation. If the committee cannot reach consensus, it will submit a report to the Faculty's Programme Committee. The report should give the relevant facts and all the alternative views regarding the application. The Programme Committee then acts as RPL/CAT committee for the particular application and makes a recommendation based on a simple majority vote of the members present.

Where admission to a postgraduate qualifications are recommended based on RPL, where the learner does not meet the specified admission requirements, the RPL/CAT committee makes a decision (approved by the departmental chairperson if the chair is not part of the RPL/CAT committee). The chairperson submits the decision for oversight and ratification to the Faculty Board.

Where admission to postgraduate qualifications is concerned, the learner that complies with qualification requirements, but not with normal departmental selection criteria, the RPL/CAT committee follows the relevant department's procedures. The department's decision on the admission of the learner is reported to the Faculty Administrator in the Registrar's office as for any other student.

Entry Requirements:
The minimum entry requirement for this qualification is:

Bachelor of Commerce, National Qualifications Framework (NQF) Level 7, 360 Credits.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of compulsory and elective modules at Level 8 totalling 126 Credits.

Compulsory Modules, 54 Credits:

Portfolio Management, 18 Credits.

Financial Derivative Instruments, 18 Credits.

Fixed Interest Securities, 9 Credits.

Fixed Interest Rate Security Portfolio Management, 9 Credits.

Elective Modules, 72 Credits (Choose/Select four modules):

Advanced Strategic Management, 18 Credits.

Corporate Venturing, 18 Credits.

Financial Management, 18 Credits.

Property Investment and Finance, 18 Credits.

Value-based Financial Management, 18 Credits.

EXIT LEVEL OUTCOMES

1. Demonstrate the ability to achieve core investment management competencies and specific skills that will focus on the student's specific employment objectives.
2. Demonstrate core competencies in investment management.
3. Apply investment knowledge.
4. Demonstrate integrated knowledge of investment and portfolio management.
5. Demonstrate integrated portfolio management competencies.
6. Advise clients on investment matters and evaluate investment alternatives for the benefit of the client.
7. Demonstrate the achievement of the learning outcomes of the second and third levels of the international Chartered Financial Analyst programme.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Identify the elements of value-based management that are required to ensure that a firm is focused on the maximization of shareholder value.

Apply free cash flow and various value-based financial techniques to evaluate a firm's shareholder value creation.

Incorporate corporate social responsibility principles during the formulation of a value-based financial performance system which will be assessed with reference to a case study and examination.

Complete a company report

Associated Assessment Criteria for Exit Level Outcome 2:

Apply strategic thinking skills to management problems.

Evaluate and critically debate issues in Strategic Management theory.

Develop a strategic management plan for an organisation.

Design a plan to implement a strategy for an organisation.

Demonstrate visual and oral presentation of the strategy plan.

Associated Assessment Criteria for Exit Level Outcome 3:

Organise and align work and management practices to support innovation.

Develop scorecards and measurement systems that promote innovation.

Organize teams that are better suited to execute innovation initiatives.

Demonstrate how to leverage the strengths of the organization to give innovation efforts an advantage.

Recruit the people that will give the innovation effort the best chance of success.

Create and manage a partnership between the existing operations and the innovation effort.

Demonstrate visual and oral presentation of group project.

Associated Assessment Criteria for Exit Level Outcome 4:

Demonstrate the ability to price and use derivative instruments.

Demonstrate the ability to value and use derivative instruments.

Identify and quantify financial risk exposure.

Devise strategies to hedge financial risk.

Illustrate how to complete risk-free arbitrage deals.

Evaluate the success of an implemented hedge.

Associated Assessment Criteria for Exit Level Outcome 5:

Make financial decisions that will maximize the wealth of both shareholders and key stakeholders. The key decisions include investment decisions (both capital budgeting in the long term and working capital in the short term), financing decisions and decisions regarding the distribution of free cash flow.

Identify behavioural and ethical pitfalls which could influence optimal financial decision-making.

Demonstrate an understanding of the main sustainability challenges that could influence the wealth creation process.

Demonstrate a deeper understanding and appreciation of the importance of integrity in financial management.

Associated Assessment Criteria for Exit Level Outcome 6:

Explain the background to fixed interest portfolio management.

Measure a portfolio's risk.

Select an index and manage a fund against an index.

Develop portfolios for immunization and cash flow matching.

Compute currency contract and returns for a range of currency hedging transactions.

Associated Assessment Criteria for Exit Level Outcome 7:

Evaluate the valuation, use and hedging of securitised and derivative products.

Apply derivatives as a risk management tool.

Determine the risk profile of a portfolio.

Explain the dominant role of fundamental credit analysis.

Describe the property investment process.

Apply a quantitative and qualitative investment analysis from both the investor and financier's perspective.

Compare and evaluate property investment opportunities, including different commercial investment property types.

Estimate the correct amount of financial leverage.

Describe the tax implications for different legal entities and specific property investments.

Apply tax calculations for the purchasing, ownership and sale of property.

Analyse financial statements of a potential property investment from both the investor's and the financier's perspective.

Apply relevant financial analysis and calculations, including ratio analysis, reconstructing the operating statement, draw up cash flow projections, amortization schedules and determine future sale price.

Understand the market valuation process and assess factors that affect property value.

Design a property management plan and assess all aspects of property management.

Integrated Assessment:
The Formative and Summative Assessments of individual modules consist of:

Assignment(s).

Various exercises submitted during the term for formative and summative purposes.

A number of tests, depending on the particular module.

One exam.

Semester mark which is based on all the contributions that participants make during the semester.

Final examination which counts 50% and the semester marks the other 50% of the final performance mark.

By using a variety of assessment types the reliability, validity and fairness of assessment is increased.

In assessing learners, every effort is taken to ensure that individual learning is being assessed. When learners submit assignments, they have to confirm that the work is their own. Learners have to sign a declaration that the work they submit for assignments or case studies is their own. Assignments are submitted electronically and are checked with the Turnitin system for similarities in content with available sources.

The qualification assessment adheres to the institution's policy related to assessment, moderation and examination.

INTERNATIONAL COMPARABILITY

This qualification is internationally comparable with the:
Postgraduate Diploma in Financial Analysis offered by the International College of Financial Planning, India.

In the financial services industry, one of the most coveted careers is that of a financial analyst. Across the globe, financial analysts are one of the high paid professionals.

Financial Analysts monitor and interpret available data such as industry and economic trends, forecast the current trends and then determine a fair market value of an asset of a company. They make recommendations based on this analysis. They also manage portfolio worth millions of dollars. Mostly, Financial Analyst occupy senior positions in investment management companies, private equity, hedge funds etc. Financial analysts play a number of different roles like Equity analyst, Credit Analyst, Portfolio Managers, Investment Advisors, Investment bankers etc.

To get into such coveted roles, require advance knowledge of finance and investment management, sharpening of analytical skills and learning essential tools and techniques to dig deeper into the numbers.

Postgraduate Diploma in Financial Analysis (PGDFA) course provided by International College of Financial Planning is a culmination of industry experts in the field of investment banking, private equity, hedge funds, portfolio managers and seasoned academicians who are well aware of the prerequisites to give a jumpstart to your career in financial analysis.

The PGDFA course combines unique blend of course delivery by faculties and working on financial projects like financial models, M and A models which prepare students well in advance for all the future challenges.

Unique aspects of the Post graduate diploma in finance Analysis:

This Financial Analyst Course content similar to CFA L1 and L2 curriculum.

Hands-on experience on working on live projects.

Supported case-studies to enhance learning.

Assisted job placements.

Course Duration:
The duration of the course is 10+2 months in full time mode, which includes an internship of 2 months in a financial sector company.

Eligibility:

The candidate must possess a Bachelor's Degree.

The Bachelor's Degree (or equivalent qualification) obtained by the candidate must entail a minimum of 3 years of education after completing Higher Secondary School (10 + 2 or equivalent).

Candidate applying for their final year exams can also apply subject to furnishing a proof of graduation by 15th September.

Comparison between this qualification and the international qualifications:
The articulation possibilities and duration of these qualifications are the same, but the biggest comparison is that the qualifications have the same focus and rationale, i.e. knowledge of finance and investment management, sharpening of analytical skills and learning essential tools and techniques to dig deeper into the numbers. Furthermore, both qualifications allow for the building of specific knowledge and skills required in the field of financial analysis, but also allows learners (through elective modules) to differentiate themselves by building a unique qualification focus. And, as with this qualification, the above mentioned qualification also aligns to the International Chartered Financial Analyst programme. The only major difference between these qualifications is that the international qualifications assists learners with job placement opportunities.

ARTICULATION OPTIONS

This qualification allows for both possibilities for horizontal and vertical articulation.

Horizontal Articulation:

Bachelor of Commerce Honours in Economics, NQF Level 8.

Bachelor of Commerce Honours in Financial Accounting, NQF Level 8.

Postgraduate Diploma in Accounting, NQF Level 8.

Postgraduate Diploma in Development Finance, NQF Level 8.

Postgraduate Diploma in Financial Planning, NQF Level 8.

Bachelor of Commerce Honours in Financial Planning, NQF Level 8.

Vertical Articulation:

Master of Commerce in Business Management, NQF Level 9.

Master of Commerce in Economics, NQF Level 9.

Master of Commerce in Financial Economics, NQF Level 9.

MODERATION OPTIONS

N/A

CRITERIA FOR THE REGISTRATION OF ASSESSORS

N/A

NOTES

N/A

LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION:

NONE

PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION:

This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.

1.	Stellenbosch University