Professional certification in financial services
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.
Within the finance industry, professional designations have served as external validation of expertise for decades, and the literature supports the importance of these professional designations within the larger finance community.
As the field of finance has increased in complexity in recent years, the number of available designations has also increased.
Correspondingly, some will have more recognition than others.
Note that in the US, many state securities and insurance regulators do not allow financial professionals to use a designation —in particular a "senior" designation — unless it has been accredited by either the American National Standards Institute or the National Commission for Certifying Agencies.
Accredited Financial Analyst
The Accredited Financial Analyst designation is a certification mark for financial analysts conferred by the Board of Standards of GAFM, the Global Academy of Finance and Management.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. The GAFM AFA program is a TUV Accredited and ISO certified 9001 and ISO certified 29990 training program.
Certificate in Quantitative Finance
The Certificate in Quantitative Finance is an online part-time financial engineering program.It 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 derivatives, IT, quantitative trading, insurance, model validation or risk management.
The program’s focus is on the practical implementation of techniques ; it thus incorporates an element of questioning and analyzing models and methods.
It was founded by Paul Wilmott.
See Quantitative analysis #Education and Financial modeling #Quantitative finance.
Certified Financial Planner
The Certified Financial Planner 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.Certified Financial Technician
The Certified Financial Technician is a designation in Technical analysis offered by the International Federation of Technical Analysts. It comprises two sequential examinations; designants must also hold a university degree, and have three years relevant experience.With further experience requirements met, and submission of a research thesis, the MFTA may be obtained.
Members are in 22 countries.
Certified Investment Professional
The Certified Investment Professional designation is a financial certification for professionals in securities operations and financial services; it is conferred by the Foundation CIP.To receive authorization to use the designation, the candidate must complete the 3 level CIP Program, meet education requirements, defend and present a thesis, and pay an ongoing permanent education fee.
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, and, having cleared those country specific exams, at the common international level. The topics are largely similar to the CFA; see below.
Certified Treasury Professional
The Certified Treasury Professional designation is a certification for treasurers, cash managers, treasury managers, and other treasury-related professionals administered by the Bethesda, Maryland-based Association for Financial Professionals. 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 Chief Financial Officers. The CTP certification is held by over 20,000 finance professionals and is considered the certification in the treasury management profession.See also, Association of Corporate Treasurers, which confers the equivalent European qualification.
Chartered Alternative Investment Analyst
The Chartered Alternative Investment Analyst designation is a financial certification for investment professionals conferred by the Chartered Alternative Investment Analyst.The curriculum is designed to provide finance professionals with a broad base of knowledge in alternative investments.
Candidates must complete two examinations in succession and pay an ongoing certification fee to retain rights to use the financial designation.
Chartered Development Finance Analyst
A chartered development finance analyst is a specialist in development finance theory and practice that has been professionally accredited by the Chartered Institute of Development Finance; 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.Chartered Financial Analyst
The Chartered Financial Analyst 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 investment management and security analysis - thus economics, financial reporting and analysis, corporate finance, alternative investments and portfolio management - and provides a generalist knowledge of other areas of finance.
Candidates must complete three examinations in succession, and thereafter adhere to a code of ethics, and pay an ongoing certification fee to retain rights to use the financial designation.
Chartered Market Technician
The Chartered Market Technician 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.
Fellow Chartered Financial Practitioner
The Fellow Chartered Financial Practitioner designation is a financial planning designation issued by the Asia Pacific Financial Services Association. The designation was developed by the National Association of Malaysian Life Insurance and Financial Adviors in 1996 and later on adopted by APFinSA in 2001 as the flagship designation for its 11 member associations.Financial Modeling & Valuation Analyst
A Financial Modeling & Valuation Analyst has completed all the courses and requirements set by the Corporate Finance Institute to obtain the designation.The program focuses heavily on applications of corporate finance that include financial modeling, valuation, analysis, Excel, presentations, and other topics.
Financial Risk Manager
The Financial Risk Manager is an international professional certification in risk management offered by GARP, The Global Association of Risk Professionals.The coverage is over two papers:
- Part I - the tools used to assess financial risk: Foundations of Risk Management; Quantitative Analysis; Financial Markets and Products; Valuation and Risk Models.
- Part II - application: Market Risk Measurement and Management; Credit Risk Measurement and Management; Operational- and Integrated Risk Management; Risk Management and Investment Management; Current Issues in Financial Markets.
GARP Frequently-Asked-Questions -EXAM regulations-, http://www.garp.org/#!/frm/frequently-asked-questions
The curriculum is updated annually by risk professionals employed internationally at major institutions, including regulators.
Given this coverage FRMs are employed both at major banks and at corporates.
International Certificate in Corporate Finance
The International Certificate in Corporate Finance 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 in partnership with the following four business schools:
HEC Paris, Columbia, Wharton and IE Business School.
Master Financial Controller
The Master Financial Controller designation is a certification mark for financial professionals engaged at the senior level of corporate finance, such as in the role of a CFO, Financial Controller or Financial Director. The qualification is conferred by the GAFM Certification Board. Candidates must sit an executive conversion program, have at least 7 years working experience and pass a rigorous exam to qualify.Master Financial Planner
The Master Financial Planner designation is a certification mark for college educated wealth planners conferred by the GAFM Board of Standards. To receive authorization to use the designation, the candidate must meet education, AACSB or ACBSP accredited college examinations, experience and ethics requirements, and pay an ongoing good standing fee. Since 2003, this designation has required an ACBSP nationally accredited exams, courses and a degree. The ACBSP path to achieve the MFP Master Financial Planner certification requires accredited education that is recognized by the CHEA and US Government unless you take an accredited course. The Global Academy of Finance and Management is TUV Accredited and ISO Certified 9001 and ISO Certified 29990 for Training.Professional Risk Manager
The Professional Risk Manager, offered by PRMIA, emphasizes practice-related skills and knowledge required within the risk management profession, and financial risk management more particularly; it additionally requires a commitment to professional ethics. Its coverage, structure and recognition are similar to the [|FRM].Registered Financial Planner
Registered Financial Planner refers to one of several separate designations in financial planning; there is currently no connection between these.- In Canada, the R.F.P. designation is conferred by the Institute of Advanced Financial Planners. To become an R.F.P. in Canada, candidates must pass exams, submit a sample comprehensive financial plan and meet education and experience requirements.
- In Malaysia, the Registered Financial Planner designation is conferred by the Malaysian Financial Planning Council. It is one of the recognised qualification by the Securities Commission and Bank Negara Malaysia for 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.
- In Hong Kong, the Society of Registered Financial Planners offers the HKRFP, valid in Hong Kong and China.