Quantitative Finance Valuator (QFV) Designation

For those who have an equivalent designation:

Candidates from this group must meet all of the following conditions:

1. Submit a copy of a Certificate in Quantitative Finance (CQF) issued by the CQF Institute; and

                                                                                              

2. Submit a copy of a financial B.A and/or M.A/M.B.A degree (i.e., economics, finance, management, accounting, or other business field) or B.Sc and/or M.Sc in Exact Sciences (mathematics, computer science, physics, chemistry and life sciences) or in Engineering Sciences from an accredited college or university; and

 

3. Submit a full IAVFA Membership Application (PDF); and

 

4. Submit a full QFV Designation Application (PDF); and

 

5. Submit three personal/business Reference Letter Forms (PDF)

 

For those who have a substantial experience:

Candidates from this group must meet all of the following conditions:

1. Be able to demonstrate with business references or attestations from current or previous employers and/or partners “substantial experience” in the field of derivatives and complex financial instruments valuation. For this purpose, substantial could mean:

  • Submit a letter from an employer which confirms that the candidate worked for at least two years in the field of derivatives and complex financial instruments valuation, subject to the approval of IAVFA's Quantitative Finance Valuator Committee; or

  • Submit 10 economic analyses in the field of derivatives and complex financial instruments valuation, where the applicant’s role was significant enough to be referenced in those economic analyses or a signatory on the economic analyses; or

  • Submit a book on derivatives and complex financial instruments valuation, where the applicant is the book's author.

                                                                                             and 

2. Submit a copy of a financial B.A and/or M.A/M.B.A degree (i.e., economics, finance, management, accounting, or other business field) or B.Sc and/or M.Sc in Exact Sciences (mathematics, computer science, physics, chemistry and life sciences) or in Engineering Sciences from an accredited college or university; and

 

3. Submit a full IAVFA Membership Application (PDF); and

 

4. Submit a full QFV Designation Application (PDF); and

 

5. Submit three personal/business Reference Letter Forms (PDF); and

 

6. Successfully complete the fifth module (i.e., specialization module) of IAVFA's Quantitative Finance Valuator (QFV) certification program, which includes 42 hours. Successful completion of the fifth module means successful completion of the module exam and submission of a Quantitative Finance Valuator (QFV) report*.

 

For those who hold a Ph.D. in Finance/Economics or a DBA:

Candidates from this group must meet all of the following conditions:

1. Submit a copy of a Ph.D. in Finance/Economics or a Doctor of Business Administration (DBA) from an accredited institution of higher education

 

2. Submit 2 published papers on the subject of derivatives and complex financial instruments valuation, which were published in a refereed and an academic accredited journal, where the applicant is the papers' writer. 

 

3. Submit a full IAVFA Membership Application (PDF); and

 

4. Submit a full QFV Designation Application (PDF); and

 

5. Submit three personal/business Reference Letter Forms (PDF); and

 

6. Successfully complete an interview with IAVFA's Quantitative Finance Valuator Committee, where the applicant must be able to demonstrate substantial knowledge of theory, methodologies, and practices in the field of derivatives and complex financial instruments valuation.

 

For Everyone else:

Candidates from this group must meet all of the following conditions:

1. Submit a copy of a financial B.A and/or M.A/M.B.A degree (i.e., economics, finance, management, accounting, or other business field) or B.Sc and/or M.Sc in Exact Sciences (mathematics, computer science, physics, chemistry and life sciences) or in Engineering Sciences from an accredited college or university; and

 

2. Submit a full IAVFA Membership Application (PDF); and

 

3. Submit a full QFV Designation Application (PDF); and

 

4. Submit three personal/business Reference Letter Forms (PDF); and

 

5. Successfully complete the Quantitative Finance Valuation (QFV) Certification Program, which includes 240 academic hours divided into 5 modules (courses), 48 academic hours each and receiving a passing score on the submission of a Quantitative Finance Valuation (QFV) report*.

 

*Quantitative Finance Valuation (QFV) report:

A Quantitative Finance Valuation (QFV) report may be used for financial reporting purposes (valuations in accordance with Israeli Accounting Standards, IFRS and US GAAP), for transaction purposes (valuations prior to mergers, splits, spin offs, acquisitions, sale processes and other stractual changes, and transactions with controlling shareholders), for regulatory purposes (valuations for the Israel Securities Authority and SEC), for tax purposes (valuations for the Israel Tax Authority and IRS), or for legal purposes (Valuations in the Divorce Setting and Shareholder Disputes).

 

Following are several examples for a Quantitative Finance Valuation (QFV) report:

  • Consulting and Conducting Hedge Effectiveness Tests,

  • Fair Value of Embedded Derivatives,

  • Valuations and Risk Analysis used for 2nd Galai Report (VaR Sensitivity),

  • Valuations and Risk Analysis for IFRS 7 & IFRS 9,

  • Financial and Inflation Related Models (IAS 39, AG7, AG8),

  • Convertible Bond Valuations, Financial Options and Complex Derivative Positions,

  • Credit Risk Analysis.

 

IAVFA Membership Application (PDF)

 

QFV Designation Application (PDF)

 

Reference Letter Forms (PDF)

 

Proper Usage of the QFV Designation

 

QFV Certification Program

 

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Qualifications for the Quantitative Finance Valuator (QFV) Designation

The Quantitative Finance Valuator (QFV) designation is awarded by the Israel Association of Valuators and Financial Actuaries (IAVFA), and is the Israeli recognized benchmark professional designation for those who value derivatives and complex financial instruments. The QFV designation ensures that Certified QFVs have mastered the critical knowledge, skills and abilities necessary to perform quantitative finance & derivative valuations.

The Israel Association of Valuators and Financial Actuaries (IAVFA) is a professional organization, an institution for professional training and a body which specializes in placing professional employees in the financial sector in Israel. IAVFA strives to voluntarily regulate the professions of valuation and financial actuarial science in Israel, both by setting pre-qualification requirements, ethical principles for practitioners in these professions, and by training and certifying quality professionals for these professions. IAVFA provides both placement services in order to integrate its credentialed members in leading positions within the Israeli labor market, and mediation services between valuation consumers and valuation specialists.