Top 10 Assistant Finance Manager Certifications

Certifications are important for an assistant finance manager in the job market because they demonstrate a level of knowledge and expertise that employers look for when assessing candidates for a role. They also provide an opportunity for professional growth, as many certifications are awarded after passing an exam or completing certain courses. Additionally, certifications can give an assistant finance manager a competitive edge over other applicants by providing proof of their qualifications and experience. Finally, certifications help to ensure that the assistant finance manager is up-to-date on best practices and industry standards.

This article reviews some of the top certifications for Assistant Finance Managers and explains how they can contribute to career advancement in the field.

What are Assistant Finance Manager Certifications?

Assistant finance manager certification is a formal recognition of the knowledge and skills needed to successfully manage a business’s finances. It is an industry-recognized credential that demonstrates an individual’s ability to understand financial principles and practices, as well as their proficiency in managing the financial operations of a company. Certification is earned through passing a series of examinations or completing certain courses or training programs.

Having assistant finance manager certification can be beneficial for individuals looking to advance their career in the field. Those with this certification are better equipped to handle complex financial tasks, such as budgeting, forecasting, analyzing financial statements, and monitoring cash flow. Additionally, having this certification may make an individual more attractive to potential employers and give them an edge over other applicants who do not have it. It also allows individuals to demonstrate their commitment to professional development in the field and stay up-to-date on changes in the industry.

Pro Tip: Obtaining an assistant finance manager certification can be a great way to advance your career in the finance industry. Look for certifications that are accredited and recognized by employers, as they are more likely to be taken seriously. Additionally, make sure to research the exam requirements and fees associated with obtaining the certification prior to signing up.

Related: What does an Assistant Finance Manager do?

Top 10 Assistant Finance Manager Certifications

Here’s our list of the best certifications available to Assistant Finance Managers today.

1. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given by the American Institute of Certified Public Accountants (AICPA) to individuals who have met certain educational, experience, and examination requirements. CPAs are responsible for providing financial advice, preparing tax returns, auditing financial statements, and other accounting-related activities.

The process to become a CPA can vary from state to state but generally includes passing the Uniform CPA Exam as well as meeting education and experience requirements. The exam typically takes 4-6 months to complete depending on the individual’s study habits and dedication.

To get started on the path towards becoming a CPA, you must first obtain an undergraduate degree in accounting or related field. After completing your degree, you must then meet the educational requirements set forth by your state's Board of Accountancy. Generally speaking these requirements include 150 semester hours of college credit with at least 24 semester hours in accounting subjects such as auditing, taxation, financial reporting, and government/non-profit accounting.

Once you have met the educational requirements for your state's board of accountancy you will need to pass the Uniform CPA Exam which consists of four sections: Auditing & Attestation (AUD), Business Environment & Concepts (BEC), Financial Accounting & Reporting (FAR), and Regulation (REG). The exam is administered by the AICPA and is offered throughout the year at Prometric testing centers across the United States.

The cost of taking the CPA Exam can vary depending on which sections you choose to take and when you decide to take them; however, it typically costs between $800-$1,500 per section plus any applicable registration fees.

2. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification offered by the Institute of Management Accountants (IMA). It is designed to recognize individuals who have achieved a high level of expertise in financial planning, analysis, control, decision support, and professional ethics. The CMA designation demonstrates an individual’s commitment to advancing their skills and knowledge in the management accounting profession.

In order to become a CMA, you must complete a rigorous two-part exam that covers topics such as financial planning, analysis, and decision-making; cost management; internal controls; financial statement analysis; corporate finance; investments; and professional ethics. The exam consists of multiple choice questions as well as essay questions. The exam takes approximately four hours to complete.

To get the CMA designation, you must first meet certain eligibility requirements set forth by the IMA. These include having at least two years of professional experience in management accounting or related fields, or completing an approved college degree program with courses in management accounting or related fields. You must also pass both parts of the CMA exam within three years of applying for certification.

The cost for taking the CMA exam varies depending on your country/region and whether you are a member of IMA or not. Generally speaking, it costs around $450-$500 USD per part (the two parts combined). Additionally, there are fees associated with maintaining your certification which vary depending on your membership status with IMA.

3. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. The CFA credential is considered to be one of the most prestigious and sought-after certifications in the finance industry. It is awarded to individuals who have demonstrated mastery of a broad range of financial topics including ethical and professional standards, portfolio management, security analysis, corporate finance, economics, quantitative methods and derivatives.

It typically takes four years to complete the CFA program. Candidates must pass three levels of exams in order to earn the designation. Each level consists of a six-hour exam with multiple choice questions and essay questions. The exams are administered twice per year: once in June and once in December.

To become eligible for the CFA Program, candidates must have a bachelor’s degree or equivalent work experience; be at least 18 years old; have four years of qualified professional work experience; and agree to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct.

The cost for taking all three levels of exams can vary depending on when you register for them. Generally speaking, it costs around $2,000 USD for each level plus additional fees for registration, study materials and other related expenses.

4. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is the most recognized credential for internal auditors and is designed to assess the knowledge and skills necessary to perform internal auditing at an executive level.

The CIA exam consists of three parts: Part 1 – The Internal Audit Basics, Part 2 – Practice of Internal Auditing, and Part 3 – Business Knowledge for Internal Auditing. Each part must be passed in order to obtain the certification.

The CIA exam can be taken anytime throughout the year, but it must be completed within 12 months. Candidates must complete all three parts within this time frame in order to receive their certification.

In order to become a Certified Internal Auditor, candidates must first meet certain eligibility requirements set by the IIA. These requirements include having a minimum of two years of professional experience in internal auditing or related fields, such as accounting or finance. In addition, applicants must pass an online assessment test before they are eligible to sit for the CIA exam.

The cost of taking the CIA exam varies depending on where you take it and how many parts you take at once. Generally speaking, each part costs around $500 USD when taken separately and $1,000 USD when taken together as a bundle.

5. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a credential offered by the Association for Financial Professionals (AFP). It is designed to recognize individuals who have achieved a high level of competency in the field of treasury management. The CTP certification is a globally recognized standard that demonstrates an individual’s knowledge and expertise in cash management, corporate finance, risk management, investments, and international finance.

To become certified as a CTP, individuals must pass an exam administered by AFP. The exam consists of 150 multiple-choice questions covering topics such as financial analysis and planning, cash flow forecasting and budgeting, risk management strategies, investments and derivatives, international banking and payments systems, debt financing and capital markets.

It typically takes about six months to prepare for the CTP exam. Candidates should be familiar with the material covered on the exam before taking it. Preparation methods include studying textbooks related to treasury management topics; attending seminars or workshops; or taking online courses related to treasury management topics.

The cost of becoming a CTP varies depending on how you choose to prepare for the exam. The cost of registering for the exam itself is $450 for members of AFP and $550 for non-members. Additionally, there may be fees associated with any preparation materials or courses you choose to use.

6. Financial Risk Manager (FRM)

Financial Risk Manager (FRM) is a professional certification offered by the Global Association of Risk Professionals (GARP). The FRM designation is designed to recognize individuals who have achieved a high level of expertise in the field of financial risk management.

The FRM exam consists of two parts, each with 100 multiple-choice questions and four hours of allotted time. Part I focuses on the tools used to assess risk, while Part II covers the application of those tools in various markets and products. To receive the designation, candidates must pass both parts of the exam within a two-year period.

The cost for taking the exam varies depending on when you register and if you are a GARP member or not. Generally, it costs $850 for non-members to take both Parts I and II, while members pay $650. Candidates may also choose to take only one part at a time, which costs $450 for non-members and $350 for members.

To become an FRM certified professional, there is no specific educational requirement; however, it is recommended that candidates have at least three years of work experience in risk management or related fields before taking the exam. Additionally, GARP offers several study materials and courses to help prepare candidates for their exams.

7. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation awarded by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). It recognizes professionals who have demonstrated expertise in both financial and strategic management accounting.

The CGMA designation requires a minimum of three years' experience in management accounting, as well as passing the CGMA exam. The exam covers topics such as financial reporting, budgeting, cost management, performance measurement and decision making. Once you have passed the exam, you will be eligible for membership to the AICPA and CIMA.

It typically takes around nine months to prepare for the CGMA exam. This includes studying for the exam, attending review courses or seminars, and taking practice tests. The cost of taking the CGMA exam varies depending on your country of residence, but it generally ranges from $400-$600 USD.

8. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification program that recognizes the knowledge and experience of individuals who have demonstrated excellence in government financial management. To become certified, an individual must pass three exams that cover topics such as budgeting, accounting, auditing, financial reporting, internal controls, and financial systems. The CGFM certification is administered by the Association of Government Accountants (AGA).

It typically takes about one to two years to complete the requirements for the CGFM certification. To get started on the process, applicants must submit an application and pay a fee. The fee includes access to study materials and practice exams. Once the application is approved, applicants can register for the three exams: Governmental Environment; Governmental Accounting, Financial Reporting & Budgeting; and Governmental Financial Management & Control.

The cost of taking all three CGFM exams is $415 for members of AGA or $585 for non-members. In addition to this fee, there may be additional costs associated with purchasing study materials or taking preparatory courses.

9. Certified Fraud Examiner (CFE)

A Certified Fraud Examiner (CFE) is a professional designation earned by individuals who have demonstrated expertise in fraud prevention, detection, and deterrence. CFEs are trained to recognize the warning signs of fraudulent activities and to investigate suspicious activity. They use their knowledge of accounting principles, investigative techniques, law enforcement procedures, and other areas to detect and prevent fraud.

It typically takes 18-24 months to become a Certified Fraud Examiner (CFE). The process includes completing the CFE Exam Preparation Course from the Association of Certified Fraud Examiners (ACFE), passing the CFE Exam, and meeting the experience requirements set forth by the ACFE.

The cost for becoming a CFE depends on several factors such as whether you are an ACFE member or not. For non-members, it costs $1,395 USD for the exam preparation course plus $400 USD for the exam itself. For members of the ACFE, it costs $795 USD for the exam preparation course plus $400 USD for the exam itself.

In addition to these fees, there may be additional costs associated with membership dues or continuing education credits needed to maintain your certification status.

10. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation given by the Certified Financial Planner Board of Standards, Inc. (CFP Board). The CFP certification is the most recognized and respected financial planning credential in the world. It signifies to clients, employers, and peers that an individual has met rigorous standards of education, experience, ethics and examination to provide competent and ethical financial planning advice.

It takes approximately two years to complete the CFP program. To become certified, individuals must meet educational requirements, pass a comprehensive exam administered by the CFP Board and agree to adhere to its Code of Ethics and Professional Responsibility.

The educational requirements for becoming a CFP include completing college-level courses in areas such as insurance planning, retirement planning, investment planning, tax planning, estate planning and risk management. In addition to these course requirements, individuals must also complete a capstone course or project demonstrating their ability to apply their knowledge in a real-world setting.

The cost of becoming a CFP varies depending on the individual's educational background and experience level. Generally speaking, it can cost anywhere from $2,000-$4,000 for tuition fees alone before factoring in additional costs such as books/materials or exam fees.

Do You Really Need a Assistant Finance Manager Certificate?

The answer to this question depends on your individual career goals. If you are looking for a job as an assistant finance manager, then having a certificate in the field could be beneficial. Having a certificate would show that you have the necessary knowledge and skills to perform the job duties of an assistant finance manager.

Having a certificate can also lead to higher pay and more opportunities for advancement within the company. A good finance manager is expected to be familiar with accounting principles, financial analysis, budgeting, forecasting, and other related topics. Having a certificate in these areas can demonstrate that you have the necessary skills and knowledge to excel in your role as an assistant finance manager.

On the other hand, if you are already employed as an assistant finance manager or if you are confident that you have the necessary skills and knowledge without having a formal certification, then it may not be necessary for you to obtain one. However, if you do decide to pursue one, there are many courses available online or through traditional universities which can provide an excellent foundation of knowledge in finance management.

Related: Assistant Finance Manager Resume Examples

FAQs About Assistant Finance Manager Certifications

1. What is an Assistant Finance Manager Certification?

Answer: An Assistant Finance Manager Certification is a professional designation that recognizes an individual’s knowledge, skills and abilities in the field of finance management. It demonstrates that the individual has met the required standards to be considered an expert in this area.

2. How do I become certified as an Assistant Finance Manager?

Answer: To become certified as an Assistant Finance Manager, you must meet certain academic and professional requirements, such as completing a college-level finance course or having relevant work experience. Additionally, you must pass a certification exam administered by a recognized organization.

3. What type of job opportunities are available with an Assistant Finance Manager Certification?

Answer: With an Assistant Finance Manager Certification, you may find employment opportunities in various industries such as banking, corporate finance, accounting and financial planning. You may also be able to pursue higher positions within these industries such as Controller or Chief Financial Officer (CFO).

4. How long does it take to obtain an Assistant Finance Manager Certification?

Answer: The amount of time needed to obtain your certification will vary depending on your current education and experience level. Typically, individuals can complete their certification program in less than one year if they dedicate enough time and effort into studying for the certification exam.

5. What are the benefits of having an Assistant Finance Manager Certification?

Answer: Having an Assistant Finance Manager Certification provides many benefits including enhanced job prospects, increased earning potential and greater recognition from employers and peers in the field of finance management. It also demonstrates your commitment to professional development and mastery of financial principles and practices.