Professional certification in financial services
This article needs additional citations for verification. (October 2018) |
Following is a partial list of professional certifications in financial services, with an overview of the educational and continuing requirements for each; see Professional certification § Accountancy, auditing and finance and Category:Professional certification in finance for all articles. As the field of finance has increased in complexity in recent years, the number of available designations has grown, and, correspondingly, some will have more recognition than others.[1][2][3] Note that in the US, many state securities and insurance
Investments
Certificate in Investment Performance Measurement
The Certificate in Investment Performance Measurement (CIPM) is a
Certified International Investment Analyst
Certified International Investment Analyst (CIIA) is an internationally recognised advanced professional qualification for individuals working in the finance and investment industry. The CIIA maintains standards both at the national and international levels: ACIIA tests candidates at the local level (at their home country), and, having cleared those country specific exams, at the common international level. The topics are largely similar to the CFA; see below.
Chartered Alternative Investment Analyst
The Chartered Alternative Investment Analyst (CAIA) designation is a financial certification for investment professionals conferred by the CAIA Association. The curriculum is designed to provide finance professionals with a broad base of knowledge in
Chartered Financial Analyst
The Chartered Financial Analyst (CFA) is a post-graduate professional qualification offered internationally by the American-based CFA Institute. The program covers a considerably wide range of topics relating to advanced
Chartered Wealth Manager
For retail focused professionals, CISI - the UK based Chartered Institute for Securities & Investment - offers the Chartered Wealth Manager Qualification (CWM),[5] comprising three sequential exams in financial markets, portfolio construction, and then applied wealth management. With further experience requirements met, the Chartered Wealth Manager title may be used additional to other CISI membership designations. (The CISI designation is not to be confused with the similarly titled GAFM designation,[6] see below, which in Europe is then titled CCWM.)
CISI Diploma
The
Development Finance Certified Professional
A Development Finance Certified Professional (DFCP) is a specialist in development finance theory and practice that has been professionally accredited by the Chartered Institute of Development Finance;[8] the professional association which engages with academic institutions, development finance institutions, and support agencies to support and maintain ethical conduct and professionalism in the development finance discipline globally. It is the highest professional qualification for development finance practitioners.
Financial planning
Certified Financial Planner
The Certified Financial Planner (CFP) designation is a certification mark for financial planners conferred by the CFP Board of Standards. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee. It is offered in the United States, and in 25 other countries through affiliated organizations.
Chartered Financial Consultant
The Chartered Financial Consultant (ChFC) is the "advanced financial planning" designation awarded by
Chartered Financial Divorce Analyst
Chartered Financial Divorce Analyst (CFDA) refers to the Canadian designation for specialists facilitating objective financial analysis for families & individuals going through divorce, marital separation or legal separation and life transitions. The regulating body is the Academy of Financial Divorce Specialists (AFDS).[9] Members are required to have an existing financial designation and be in good standing to be eligible for the course. Once passing, members must maintain credentials and ongoing annual education, and application/work in field.[10]
Chartered Financial Planner
The Chartered Financial Planner is a designation awarded by the UK based Chartered Insurance Institute. To attain "Chartered status" the candidate must sit 14 exams, and have five years relevant experience. Thereafter continued learning is required annually.
Fellow Chartered Financial Practitioner
The Fellow Chartered Financial Practitioner (FChFP) designation [11] is a
Registered Financial Planner
Registered Financial Planner (RFP) refers to one of several separate designations in
- In Canada, the RFP designation is conferred by the Institute of Advanced Financial Planners.[14] To become an RFP in Canada, candidates must pass exams, submit a sample comprehensive financial plan and meet education and experience requirements; IQPF awards the Financial Planner (F.Pl.) diploma in Quebec.
- In Malaysia, the Registered Financial Planner (RFP) designation is conferred by the Malaysian Financial Planning Council (MFPC). It is one of the recognised qualification by the Securities Commission and Bank Negara Malaysiafor those wishing to apply for a financial planner or financial adviser licence. See Financial Planners in Malaysia.
- In the United States, the RFP designation is offered by the Registered Financial Planners Institute.[15][16] The designation requires 2 years relevant experience, and 120 hours of course-based study.
- In Hong Kong, the Society of Registered Financial Planners[17] offers the HKRFP, valid in Hong Kong and China.
Technical analysis
Certified Financial Technician
The Certified Financial Technician (CFTe)[18] is a designation in technical analysis offered by the International Federation of Technical Analysts (IFTA).[19] It comprises two sequential examinations, usually completed over two years; to register candidates require a bachelor's degree and three years' relevant experience. Once qualified, a CFTe may pursue the MFTA (Master of Financial Technical Analysis),[20] requiring submission of a research thesis. Members are in 22 countries.
Chartered Market Technician
The Chartered Market Technician (CMT) is a designation in technical analysis offered by the CMT Association. The program comprises three examination levels, certifying that the individual is competent in the use of technical analysis, and knowledgeable re the underlying theory. To earn the designation, candidates must hold a degree, and have three years relevant experience.
Diploma in Technical Analysis
The STA Diploma in Technical Analysis is a designation in Technical analysis offered by the UK based Society of Technical Analysts[21] (STA). It comprises two sequential examinations. The qualification is accredited by the International Federation of Technical Analysts and the Chartered Institute for Securities & Investment. Designants are also entitled to the above Certified Financial Technician (CFTe) designation and certain Chartered Wealth Management Qualification (CWM) exemptions.
Corporate finance
Corporate Finance Qualification
CISI, in conjunction with ICAEW,[22] offers the two tiered Certificate,[23] and then Diploma in Corporate Finance.[24] The qualification is "designed with a focus on the commercial, practical and technical skills" applicable in corporate finance. With three years appropriate experience,[25] these lead to the ICAEW Corporate Finance (CF) designatory letters, and to full CISI Chartered Member status.
Financial Modeling & Valuation Analyst
A Financial Modeling & Valuation Analyst (FMVA) has completed all the courses (minimum 14) and other requirements set by the Corporate Finance Institute to obtain the designation. The program focuses heavily on applications of corporate finance, including: financial modeling, valuation, analysis, Excel, presentations, and other topics.
FP&A Professional
The Certified Corporate
International Certificate in Corporate Finance
The International Certificate in Corporate Finance (ICCF)[27] is a professional designation for employees in corporate finance, covering financial analysis, valuation and decision making. The program comprises three 6-week online courses, three major cases studies, and a 2 hour final exam. The program is delivered by First Finance Institute[28] in partnership with the following four business schools:
Risk management and quantitative finance
Certificate in Quantitative Finance
The Certificate in Quantitative Finance (CQF)[29] is an online part-time financial engineering program; it was founded by Paul Wilmott in 2003, and is conferred by the CQF Institute.[30] The CQF can be completed as a single six month program or split into two three-month levels. It is designed for in-depth training for individuals in
Certified Risk Management Professional
The Certified Risk Management Professional (RIMS-CRMP)[32] is a enterprise risk management (ERM) focused credential offered by RIMS, the Risk and Insurance Management Society. Candidates sit a two hour competency based exam, and require a Bachelor's degree majoring in Risk Management together with a year's appropriate experience (or more with other qualifications); certificants are then required to uphold a Code of Ethics and meet continuing education requirements in order to maintain the certification. (A similarly named certificate is offered by IRMSA in South Africa.[33])
Certified Risk Professional
"Certified Risk Professional"[34] is a graduate-level qualification offered by the
Chartered Enterprise Risk Actuary / Analyst
The CERA credential —
Financial Risk Manager
The
Professional Risk Manager
The
Treasury management
Association of Corporate Treasurers
The Association of Corporate Treasurers offers training and various qualifications in cash- and treasury management. The Diploma in Treasury Management (3 papers over 12–18 months) allows for Associate Membership, with post-nominal letters AMCT, while the subsequent Advanced Diploma (of similar structure and duration, and requiring also a dissertation) grants full membership, MCT. The FCT fellowship is conferred following several years of experience.
Certified Treasury Professional
The Certified Treasury Professional (CTP) designation is a certification for treasurers, cash managers, treasury managers, and other treasury-related professionals administered by the Association for Financial Professionals (AFP). The CTP was formerly known as the Certified Cash Manager or CCM designation but was renamed due to treasury's increasing role in managing the entire balance sheet and implementing the strategic direction prescribed by
GAFM Designations
The Board of Standards of GAFM, the
- The Accredited Financial Analyst (AFA)[46] - a certification mark for financial analysts. Coverage includes the requisite methods for business valuation and Fundamental analysis, but also, the role related research and reporting techniques. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee. (AFA overlaps the Financial Analyst Designate and Chartered Market Analyst designations).
- The investment- and portfolio theory. Certificants must pass an accreditation course, have three years experience actively managing investment portfolios, and an approved degree, and thereafter take 15 hours per year of approved continuing education.
- The Master Financial Controller (MFC) - a certification mark for financial professionals engaged at the senior level of Financial Director. Candidates must sit an executive conversion program, have at least 7 years working experience and pass a rigorous exam to qualify.[48]
- The Master Financial Planner (MFP) - a certification mark for college educated ACBSP accredited college examinations, experience and ethics requirements, and pay an ongoing good standing fee.[48]
- The Chartered Financial Manager (CHFM)AACSBbusiness schools that count toward eligibility. The qualification requires, also, a college education.
- The Chartered Wealth Manager (CWM) the GAFM designation is then titled Chartered Certified Wealth Manager (CCWM).
- The Certified Risk Analyst (CRA) qualification[51] is granted on completion of graduate level financial- and risk management courses (directly or via waiver) with parallel "substantial experience in risk assessment and management on a regional and global level".
See also
- Professional certification (business)
- Professional certification and esp. § Accountancy, auditing and finance
- Other organizations offering training, with certification:
- Amsterdam Institute of Finance
- Canadian Securities Institute
- Chartered Institute for Securities & Investment
- GARP
- Global Risk Institute
- ICMA Centre
- The London Institute of Banking & Finance
- New York Institute of Finance
- PRMIA
- South African Institute of Financial Markets
- Swiss Finance Institute
- Related education articles:
References
- ^ a b Ernest N. Biktimirov (2012). Global Alphabet Soup: Internationally Recognized Professional Designations in Finance, Journal of Financial Education 38 (3/4), Fall/Winter 2012, 18-32
- ^ a b The Rise of the Chief Risk Officer, Institutional Investor (March 2017).
- ^ "Is Your Advisor Pumping Up His Credentials?", The Wall Street Journal, October 16, 2010.
- FINRA.
- ^ Chartered Wealth Manager Qualification
- ^ a b c Chartered Wealth Manager, gafm.com
- ^ CISI Qualifications, insidecareers.co.uk
- ^ globalcidef.com
- ^ "Home". afds.ca.
- ^ "Faq – Afds".
- ^ Fellow Chartered Financial Practitioner, apfinsa.org
- ^ Asia Pacific Financial Services Association, apfinsa.org
- ^ National Association of Malaysian Life Insurance and Financial Advisors, namlifa.org.my
- ^ Institute of Advanced Financial Planners, iafp.ca
- ^ Registered Financial Planners Institute, rfpi.com
- ^ Registered Financial Planner, finra.org
- ^ Society of Registered Financial Planners, hkrfp.org
- ^ Certified Financial Technician, ifta.org
- ^ ifta.org
- ^ Master of Financial Technical Analysis, ifta.org
- ^ technicalanalysts.com
- ^ Corporate Finance Qualification, icaew.com
- ^ Certificate in Corporate Finance, cisi.org
- ^ Diploma in Corporate Finance, cisi.org
- ^ Study Route, icaew.com
- ^ fpacert.afponline.org
- ^ International Certificate in Corporate Finance
- ^ First Finance Institute
- ^ cqf.com
- ^ CQF Institute, cqfinstitute.org
- ^ "preparation"
- ^ "certification" rims.org
- ^ Qualifications, irmsa.org.za
- ^ Becoming certified, theirm.org
- ^ Institute of Risk Management, theirm.org
- ^ International Certificate in Financial Services Risk Management, theirm.org
- ^ Course Listing at UK Finance
- ^ Course Listing at The Independent.
- ^ International Diploma in Risk Management, theirm.org
- ^ Standard Exemptions List, theirm.org
- ^ Chartered Enterprise Risk Actuary, actuaries.org.uk
- ^ SEC (Securities and Exchange Commission), https://www.sec.gov/comments/s7-16-15/s71615-33.pdf
- ^ Official Candidate Guide, http://storage.pardot.com/39542/121486/FRM_2017_CandidateGuide_V8.2_AG.pdf
- ^ GARP Frequently-Asked-Questions -EXAM regulations-, http://www.garp.org/#!/frm/frequently-asked-questions
- ^ "The GAFM Global Academy of Finance and Management". gafm.org. Retrieved 2016-05-17.
- ^ AFA, gafm.com
- ^ Chartered Portfolio Manager
- ^ a b AAFM Board of Standards
- ^ Chartered Financial Manager, gafm.com
- ^ FINRA listing
- ^ Certified Risk Analyst