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]

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.”[3]

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.

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

Chris Whitehead is the CEO and Managing Director of FINSIA.[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.

References
  1. "About Finsia". www.finsia.com. Retrieved 9 May 2016.
  2. "Formation of the Banker's Institute of Australasia" (PDF). InFinance. October 2011.
  3. "The birth of the Securities Institute of Australia" (PDF). InFinance. October 2011.
  4. "Finsia Board and CEO". finsia.com. Retrieved 9 May 2016.
  5. "Finsia Board and CEO". www.finsia.com. Retrieved 9 May 2016.
  6. "Finsia Board and CEO". www.finsia.com. Retrieved 9 May 2016.


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