Audit and Finance Committee

Purpose

The purpose of the Audit and Finance Committee (the “Committee”) is to assist the Board of Governors (the “Board”) in the fulfillment of its functions with respect to CFA® Institute’s financial statements and financial condition by:

Overseeing CFA Institute’s financial and audit systems for financial integrity.
Overseeing CFA Institute’s process for monitoring compliance as it relates to financial integrity.
Evaluating the independence and qualifications of the independent auditor.

Governance standards are ultimately determined by US Virginia State law and corporate codes, but recognizing the prominence of the organization as a professional body, and the expectations of members and other stakeholders, other best practice enhancements to governance and disclosure are followed where practicable.

The Committee’s role is one of oversight. Management is responsible for preparing the financial statements. The independent auditor is responsible for auditing the annual financial statements. The Board and Committee recognize that management, including the independent auditor, have more time, knowledge, and detailed information about the organization than do Committee members. The Committee therefore relies on the reviews and reports provided by management and does not provide any expert assurance as to the financial statements or any certification as to the work of any auditor. As appropriate, the Committee may challenge the reviews and reports to enhance the organization’s overall risk management.

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Members

Managing Director, Chief Operating Officer, The Bulfinch Companies, Inc.

Pamela is Chief Operating Officer of The Bulfinch Companies, Inc., a commercial real estate company with a history of nearly nine decades, in Boston, Massachusetts. In her role, Pamela oversees daily operations, including guiding strategic planning, providing oversight, and working closely with various teams and Bulfinch ownership. In addition, Pamela plays a key role in leading the development and implementation of the firm’s culture, sustainability objectives, and diversity, equity, and inclusion initiatives. Pamela is a member of several Internal committees that collaborate across departments to advance the firm’s mission including the Investment, Asset Management, Valuation, Technology, and DEI Committees. Recognized as a key leader, mentor, and role model, in 2022, Pamela was the recipient of the Globe Street’s Women of Influence Award in the Corporate Executive category.

Prior to joining Bulfinch, Pamela was Managing Director, Head of Charitable Asset Management at State Street Global Advisors, where she led a team that oversaw investment and administration for over $3B in endowment and charitable assets. Pamela also spent 18 years as SVP, Head of Trust Investments and Operations at Harvard Management Company, where she oversaw the Trusts and Gifts group in fulfilling the fiduciary responsibilities for Harvard University’s investment assets and trusts.

In addition to the CFA Charter, Pamela holds a Chartered Global Management Accountant designation and is a Certified Public Accountant since 1998.

Senior Director, Africa Finance Corporation

Banji is a Senior Director and Head of Treasury & Financial Institutions at Africa Finance Corporation (AFC), a pan-African multilateral development finance institution created by sovereign African states to provide solutions to Africa’s infrastructure deficit. In his role, he oversees the management of AFC’s balance sheet with total assets of about US$10.5 billion as of the end of 2022. He leads the implementation of AFC’s annual funding program in the international capital markets. He is also responsible for AFC’s financial institutions and trade business as well as the investor relations function. Banji joined AFC in January 2008 as the pioneer Treasurer of the Corporation, and he was instrumental in setting up the corporation’s treasury function and leading AFC to become one of the leading African credits in the international loan and debt capital markets. Banji has over two decades of experience in banking, advisory, and capital markets.

Banji has led several landmark funding transactions for AFC, raising over US$10 billion in funding for the corporation since 2015. He manages AFC’s relationship with its rating agencies, global relationship banks, central banks, investors, and asset managers. Prior to joining AFC, Banji worked with the Fixed Income, Currencies, and Commodities team of Citibank Nigeria and the Tax and Business Advisory Division of former Arthur Andersen.

Banji is a past board member and president of CFA Society Nigeria. He is a frequent speaker at global conferences on capital markets, and he also spends a considerable amount of his time teaching finance-related courses and mentoring young investment professionals.

Banji has a Bachelor’s degree in Economics from the University of Ibadan, Nigeria, an MPhil degree in International Finance from the University of Glasgow, United Kingdom, and an MPhil degree in International Business from the International School of Management, Paris. In addition to being a CFA charterholder, Banji is also a Chartered Accountant.

CEO, China Asset Management Co. Ltd.

Yimei Li, CFA, is Chief Executive Officer at China Asset Management Co., Ltd. Ms. Li has been in that role since May 2018, serving one of the largest mutual fund companies in China with more than USD 240 billion AUM and 200 million investors. Before that, she was the CMO of ChinaAMC for 6 years, leading a team of more than 200 people. She started with international business, then worked in human resources, marketing, sales management, and the fintech business. She served as the founder of ChinaAMC Wealth Management Company. She is also now in charge of the operation and IT functions of ChinaAMC.

Ms. Li also serves as the Vice Chair of Asset Management Association of China (AMAC) and is a member of that organization’s pension investment committee. She is very committed to bridging ideas and practices between regulators and market participants. She is a regular conference speaker and has given lectures to high officials of NGOs and charity groups on fundraising and marketing techniques.

Ms. Li graduated from Harvard University with a Masters in Public Policy and from Renmin University of China with a Masters in Economics. She holds the Chartered Financial Analyst® charter and is a member of CFA Society Beijing.

Senior Vice President, Head of Northern Trust Asset Management, India

Ravi A. Gautham, CFA is a Senior Vice President and Head of Northern Trust Asset Management (NTAM) in India. In this capacity, he is responsible for playing multiple roles- the build out and expansion of several front and middle office functions that relate to the investment business of Northern Trust, as well as positioning the business appropriately in the market. He serves on the Executive Management Team and the Boards of Northern Trust’s two India subsidiaries, with a combined workforce of over 8000 employees.

Prior to his executive leadership role in India, Ravi spent 17 years at Northern Trust’s global headquarters in Chicago in a variety of leadership roles across several other Nothern Trust areas and businesses on the institutional side. Ravi began his career in 1994 as a investment performance analyst and subsequently became a founding member of the allied investment risk consulting team. That was followed by capital markets activity- securities lending and transition management. In 2003, Ravi moved to Northern Trust Asset Management as Senior Vice President and Director of Investment Risk Management, at Norther Trust Global Advisors Inc. In that capacity, Ravi was responsible for the management of investment risk and its integration into the portfolio management process, globally, across multiple assets classes. Additionally, as a senior member of the Global Investment Solutions team and investment policy committee, he was responsible for formulating and evaluating custom investment solutions and hedging strategies around the management of pension assets and liabilities for large pension plan sponsors across North America and EMEA. Ravi moved to Bangalore, India in 2010 to establish and grow the NTAM India team across most investment functions, further supporting global regions and legal entities. In addition he provides broad Executive leadership and Board level oversight of the India legal entity.

Ravi has written articles on, published papers, and spoken on investment risk and portfolio management issues at several investment conferences and panels worldwide.

Ravi holds an MSc. (Hons.) in Economics and Management Studies from the Birla Institute of Technology & Science and an MBA in Finance with a full Finance research scholarship from the University of Ohio, Toledo.

Ravi is a CFA charterholder and a member of CFA Society Chicago and CFA Society India. He is also a member of the Global Association of Risk Management Professionals.

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