Benefits of the accounting and finance certifications
Obtaining professional certifications can be beneficial to your career, as they can demonstrate your skills and experience in a particular area of finance. While some employers consider professional certification optional, many employers and financial institutions require licensing as part of your employment. Besides meeting business requirements, obtaining professional certifications in finance can also:
- Support your career advancement in managerial and senior roles
- Increase the employability across a variety of sectors, such as business and healthcare
- Distinguish the qualifications from other professionals in the labor market
12 certifications for accountants, accountants and financial professionals
Consider the following financial and accounting certifications to advance your career and develop your skills:
1. Certified Management Accountant (CMA)
The CMA credential is appropriate for professionals working in corporate finance, accounting, strategic planning, and management roles. The CMA professionals may also hold their certifications in public accounting, which can be another credential to support the certification as a CMA. To obtain this qualification, such awarding institutions require educational and professional experience, such as a bachelor’s degree and several years’ experience in a related profession. You may need to renew the certification every few years, depending on the certification body’s standards.
2. Certified Alternative Investment Analyst (CAIA)
The CAIA accreditation is available to financial professionals who work in the analysis, management, distribution or regulation of alternative methods of investment. This certification often requires candidates to pass and pass two exams and earn a bachelor’s degree in a finance or related field. Work experience requirements can include minimum number of the years and depend on the approved institution.
3. Certified Life Insurance Underwriter (CLU)
The CLU certification is for the professionals in the life insurance and estate planning sectors. CLU professionals are often certified financial planners as well, which makes this accreditation useful for advancement into financial careers. Eligibility requirements for CLU credentials can include several years of work experience in a business environment and a four-year degree or graduate degree. Continuing education is also very necessary every two years to renew the CLU certification.
4 – Certified Public Wealth Advisor (CPWA)
CPWA accreditation requires experience in the financial and accounting fields and additional credentials to be eligible, such as the undergraduate degree and certifications in financial analysis, consulting, or accounting. In addition, CPWA demonstrates expertise in evaluating and also managing client portfolios with high values. This certification also requires a renewal every two years through continuing education.
5. Certified Fund Specialist (CFS)
The CFS certification demonstrates the expertise of financial professionals in financial services, consulting, and planning. The CFS is the suitable credential for professionals across various financial and accounting areas, including banking, stockbroking, account management, and business consulting. Eligibility requirements for CFS can include a four-year degree in finance or accounting and a minimum number of hours worked in the relevant profession. Depending on the certification body, CFS may also require renovation through continuing education.
6. Certified Mutual Fund Advisor (CMFC)
CMFC certification demonstrates financial expertise in pooled investments, closed and open-ended funds, mutual funds, and the ability to analyze and manage risk, asset allocation, and investment management. To earn this credential, candidates undergo and pass a training program and an exam. Most requirements also include the experience in financial roles related to investments and mutual fund instruments. Continuing the education is often necessary to renew the CMFC.
7. Certified Public Accountant (CPB)
Certified bookkeepers earn CPB credentials to demonstrate their expertise in bookkeeping and accounting services in small business settings. This accreditation is also suitable for account holders who work for nonprofit organizations. The eligibility requirements for the CPB include taking and passing a four-part exam, having at least an undergraduate degree in the finance or accounting, and having at least one year of bookkeeping experience. The CPB also requires continuing the education each year for renewal.
8. Financial Modeling and Visualization Analyst (FMVA)
The FMVA certification is ideal for professionals with expertise in financial modeling, valuation, forecasting, budget management, corporate financial analysis, and accounting principles. Eligibility requirements for FMVA certification include a 12-part training program and a final exam. FMVA may also require re-certification, depending on the needs of the institution and the employer.
9. Certified Market Technician (CMT)
The CMT certification allows technical and financial analysts to work in portfolio management, risk assessment, and market trading analysis. This certification requires a three-part exam at three levels of market technology, principles of research, and work experience in the relevant field of technology or investment management. Rehabilitation can also be necessary, with continuing education and professional development training as a requirement.
10. Certified Treasury Professional (CTP)
The CTP license is available to advanced treasury accounting, management, and analysis professionals. To qualify for this credential, candidates usually have relevant professional experience in cash control and treasury or a graduate-level degree in business, accounting, or finance. The Cash Transfer Program (CTP) also requires renewal every three years, and continuing education can be part of the rehabilitation.
11. Certified Healthcare Financial Professional (CHFP)
Earning a CHFP certification demonstrates the experience of finance, accounting, and internal and non-clinical professionals in financial operations relevant to the healthcare industry. The CHFP provides the foundation that builds on budget analysis and management, cost reduction, and risk assessment about financial and accounting policies, reporting, and operations in various healthcare and clinical settings. Eligibility requirements for the credential include completing and passing training and testing modules and obtaining professional or business-level membership status with an accredited institution.
12. Certified Economist
The ChE credential indicates strategic modeling, policy management, forecasting, and economic planning expertise. It is a suitable certification for economists, financial managers, account managers, and financial and risk analysts. Each ChE exam is about two hours long and covers economic policy, budget analysis, and risk management topics. Additional eligibility requirements include the minimum of a Bachelor’s degree in Finance, Economics, or a related field and qualification through the awarding institution.