IR Society CEO Gary Davies has a unique take on the UK association’s IR certification. ‘Having passed both the CIR and DipIR qualifications myself in the last few years while working as an IRO at GSK, I found the courses a great way to consolidate knowledge and understanding of the IR role and start to build a peer network of IR professionals who are working their way through the qualifications at the same time,’ he says.
Indeed, there is no doubt that the IR Society’s Certificate in Investor Relations (CIR) is an internationally recognized and highly regarded qualification for the IR professional, with around 1,500 IR practitioners holding it. ‘The CIR has become very highly regarded and we get a steady stream of IR professionals attending our Coleman Street office [in London] to sit the exam,’ says Davies. ‘Importantly, it is increasingly being recognized by employers seeking high-quality IR professionals.’
The IR Society has a growing number of partner associations internationally that work with it to provide the certification to their own IROs. These include long-standing collaborations with the Middle East, Latin America, Hong Kong, Malaysia, Singapore and Europe. ’Our most recent addition to our partner associations is with Spain,’ notes Davies.
The CIR was launched more than 10 years ago, since when it has been reviewed and updated based on the evolving needs of IR professionals. The program covers:
- Principles of investor relations
- Guide to the financial markets
- Guide to companies, regulation and reporting
- The regulatory environment, market abuse and disclosure
- Introduction to accounting, valuation and investment principles
- Effective IR in practice.
‘The certfication is supported by a program of professional development courses,’ notes Davies, adding that it helps IROs in three ways. One, it provides international recognition as a qualified IR practitioner. Two, it demonstrates competence and growing expertise. Three, it enhances career development.
‘We regularly review and adapt the content of the CIR to ensure it remains current and fit for purpose,’ Davies notes. ‘The IR Society’s examinations committee gives direction to, and maintains oversight of, the standards expected from the CIR. The society’s education committee oversees the curriculum and robustness of the coursework, training modules and other facilities, including the online mock exam.’
In the last couple of years the society has also introduced an additional senior-level qualification: the Diploma in Investor Relations (DipIR), which has recently completed its second program.
Case study: Deborah Jones
On undertaking the CIR, Deborah Jones, head of corporate affairs and communication at soft drinks manufacturer AG Barr, says: ‘I’d been with my organization for some time when I was offered a new role that included IR responsibilities. While I had a good understanding of our own business and sector, I had a limited understanding about financial markets and regulation. I was also conscious that many IR professionals are qualfied accountants, which I’m not, so the certificate seemed like the ideal opportunity to gain more knowledge in these areas.’
She says it means a great deal that she now holds a recognized and transferrable professional qualification: ‘While also feeling a much greater degree of confidence and competence in my role, from a business perspective I hope I’m making a stronger and more informed contribution to the IR strategy and agenda as a consequence.’
Given her background, Jones found the accounting valuation and investment principles section the most challenging, but ultimately the most rewarding. ‘I would encourage anyone with IR responsibilities to take the plunge and enroll for the certification,’ she says. ‘It’s both developmental and reinforcing to attain a qualification that consolidates such a wide range of IR knowledge.’
This article originally appeared in the Summer 2019 issue of IR Magazine.
