The main objective of the establishment of the Institute is to enhance the level of competency in investment analysis and research as well as to conduct training and development to enhance human capital and professionalism in the Malaysian securities industry.

The Research Institute of Investment Analysts Malaysia (RIIAM), was established as an affiliate company of Kuala Lumpur Stock Exchange (KLSE). It was incorporated on 2 May 1985 under the Companies Act 1965 as a company limited by guarantee. Today, RIIAM is an independent entity, and it is governed by a Board of Governors.

Since its inception, RIIAM has contributed significantly to the development of the local securities industry by organising conferences, seminars and workshops as well as courses for trainee dealers, remisiers and the financial community as a whole.

1. Graduates of the Institute’s examinations, ie. RIIAM Diploma in Investment Analysis
2. Graduates of universities in Malaysia
3. Graduates of any other universities outside Malaysia recognised by RIIAM
4. Graduates of UiTM’s Diploma Course specialising in Investment Analysis, Accounting,
   Statistics, or Business and having a minimum of three (3) years working experience in the securities industry

Securities companies, research institutes, investment trust management companies, investment advisory firms, securities investment companies, banks, merchant banks, insurance companies, or other organisations in favour of the objects of the Institute. Each corporate member is entitled to appoint a corporate nominee (subject to approval by the Board) who shall be eligible for election to the Board of Governors.

Person appointed to the advisory Council. Entitled to ordinary privileges of membership except the right to vote or be elected to the Board of Governors. No membership or subscription fees payable.

Membership of an honorary nature for persons distinguished in the field of securities industry. Entitled to ordinary privileges of membership except the right to vote or be elected to the Board of Governors. No membership or subscription fees payable.

Distinguished person who is favourable to the objectives of the Institute. Entitled to ordinary privileges of membership except the right to vote or be elected to the Board of Directors. No membership or subscription fees payable.
 

The Institute offered a two-year part-time Diploma in Investment Analysis (DIA) program. The Diploma program was conducted in collaboration with the Royal Melbourne Institute of Technology University (RMIT), Australia. It was offered in Kuala Lumpur, Penang and Kuching, Sarawak. Since it’s launching in early 1994, 1,646 candidates studied under the program. Of this number, 1,141 graduated.

RIIAM plans to expand relaunch the DIA program in late 2006. Besides that, RIIAM will also be offering a certification program leading to the qualification of Certified Investment Research Analysts Malaysia (CIRAM).

RIIAM plans to collaborate with the Securities and Investment Institute (United Kingdom) and the Association of Certified International Investment Analysts, to enrich its DIA and CIRAM programs.

The objectives of the DIA and CIRAM programs are to enable candidates to earn the necessary certification for critical jobs and positions in the industry. These programs are also expected to contribute towards the enhancement of professionalism and the building of human capital for the securities industry in Malaysia.

The RIIAM DIA and CIRAM will be harmonised with similar professional examinations, administered in many of the leading international markets such as Chartered Financial Analysts (CFA) program in the United States, and Securities Analysts Association of Japan examination and the Securities Institute of Australia examination.

The Institute is fully committed to fulfil the examination requirements of the Association of Certified International Investment Analyst (CIIA®). The CIIA is a not-for-profit organisation founded jointly by ASAF, with its European counterpart EFFAS, and its South American counterpart, ABAMEC, in June 2000.

It is an international designation for investment professionals worldwide, which has a two-tier local and international examination system. The examination respects the autonomy and independence of each local society by incorporating into its curriculum a national/regional specific portion to be organised by the national/regional societies and an international common portion.

RIIAM Diploma in Investment Analysis

The DIA would take about 20 months to complete if subjects are done consecutively. Each year was divided into three modules of approximately 16 weeks each. In every module, the students should complete two subjects and there will be a gap at least several weeks between subjects. Each subject consists of 20 hours of contact time with lecturers. The contact time may consist of lectures, tutorials and computer sessions that are conducted intensively over a five-day period. They may also be required to complete an assignment set by the lecturer during his/her visit. Students must complete all ten subjects, as listed below, within four years, the maximum length of time to qualify for the DIA.

1. Investment Industry Economics
2. Financial Statement Analysis
3. Malaysian Securities Markets
4. Investment Industry Law
5. Statistical Analysis for Financial Markets
6. Equities Analysis
7. Money Markets and Fixed Income Securities
8. Corporate Finance
9. Derivative Securities
10. Portfolio Management

The CIRAM qualification examination consists of two papers, Paper 1: Investment Research and Analysis, and Paper 2: Regulatory Administration and Best Practices. Candidates are required to have the DIA or a degree to register as a CIRAM candidate. The part-time study program is expected to take two years.

The qualification is intended for the working research analysts and those who are interested to enter the profession.

The DIA program requires candidates to have 4 SPM credits. Institute is reviewing the minimum qualification requirement, with the view to making the RIIAM Diploma a post-graduate professional qualification that offers as many specialisations as demanded by the securities industry. As in the past, each student of the Diploma program must firstly be admitted as a member of Institute.

Students completing the current RIIAM Diploma program will be eligible for exemptions with at least one-third subject on entry into RMIT’s Bachelor of Business (Economics and Finance) program offered by RMIT at Metropolitan College, Kuala Lumpur, or its parent campus in Melbourne, Australia.

The Securities Commission exempts students who have successfully completed the RIIAM Diploma program and intend to develop careers as dealers’ representatives or remisiers, from the Trainee Dealer’s Representative (TDR) examination. They are also exempted from having two years of relevant job experiences before joining the industry.

The Australian Institute of Banking and Finance (AIBF) now recognises and accepts students who have successfully completed any four modules of RIIAM Diploma and having at least one year of relevant employment in the banking and finance markets, as Affiliate Members of AIBF.

The Institute conducts talks, courses, seminars, workshops, and conferences. The programs are targeted at members, professionals in the public and private sectors, and members of the investing public.

The Institute conducts talks on current issues which are organized for members from time to time. The objective is to enhance their level of understanding and to update them on the latest changes in the securities industry. The talks also provide avenues for members to present their views and exchange ideas on relevant issues.

Programs are conducted to enhance the level of understanding on Malaysian securities industry. They are regulatory update, securities law, trading mechanisms, and markets and sectoral analysis, etc.

The Institute organizes courses, seminars and workshops on capital markets instruments such as bonds and derivatives, and accounting such as cash flows, etc.

The Institute and Association of Chartered Certified Accountants (ACCA) have collaborated to organize Continuous Professional Development programs on understanding MASB standards. They include ‘Presentation and Preparation of Cash Flow Statements’, ‘Group Accounts’, ‘Deferred Taxation’, ‘Accounting for Constructions Contracts, Property Development Activities and Inventories’, ‘Property Plant and Equipment & Investment Property’ and ‘Update of MASB Standards’.

The Institute plans to offer CPE (continuing professional education) courses that are approved by the Securities Industry Development Centre (SIDC). This would allow members to accumulate CPE points for recognition by Securities Commission.

The Institute published, jointly with KLSE, a journal called Capital Markets Review, twice a year. The first issue was published in April 1993. RIIAM plans to pursue this project with Bursa Malaysia.