Top 11 Banking Analyst Certifications

Certifications for a banking analyst are important for two reasons. First, they demonstrate to employers that the analyst has the necessary knowledge and skills to perform the job. By having certifications, analysts can show potential employers that they have taken the time and effort to learn the necessary information and understand the principles of banking and finance. Second, having certifications makes an analyst more competitive in the job market. With so many people vying for similar positions, certifications can help make an analyst stand out from other candidates and increase their chances of getting hired.

This article reviews some of the top certifications for Banking Analysts and explains how they can help to further a banking analyst's career.

What are Banking Analyst Certifications?

Banking Analyst Certification is a professional certification program designed to give banking professionals the skills and knowledge they need to succeed in the banking industry. This certification program provides individuals with an in-depth understanding of the banking system, from credit analysis to financial statement analysis, risk management, and more. It also helps develop a strong foundation for making sound financial decisions, as well as providing the ability to analyze and interpret complex financial data. The certification provides individuals with the opportunity to develop their skillset further by learning how to use various software programs and tools used in the banking industry.

By completing this certification program, individuals can demonstrate their commitment to professional development and gain recognition for their knowledge and expertise in the banking field. This certification also gives them an edge over competitors when it comes to job opportunities or promotions within their organization or elsewhere. Additionally, it can help them gain access to new career opportunities that require specialized knowledge in banking operations or financial analysis. With this certification under their belt, they can be confident that they have acquired all of the necessary skills needed to be successful in the banking industry.

Pro Tip: Becoming a banking analyst requires certifications from organizations such as the Institute of International Finance (IIF) or the Chartered Financial Analyst (CFA) Institute. Before applying for any certification, make sure you have a thorough understanding of the topics covered in the exams and have sufficient experience in the banking industry. Additionally, consider taking practice tests to ensure maximum preparedness for the certification exam.

Related: What does a Banking Analyst do?

Top 11 Banking Analyst Certifications

Here’s our list of the best certifications available to Banking Analysts today.

1. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. It is one of the most respected and recognized credentials in the finance and investment industry. The CFA credential is designed to measure the competence and integrity of financial analysts, portfolio managers, and other investment professionals.

It takes an average of four years to complete all three levels of the CFA Program. Each level requires approximately 300 hours of study time, depending on individual preparation. To become a CFA charterholder, candidates must pass all three levels of exams within four years as well as meet certain professional conduct requirements.

To get started with the CFA Program, applicants must register with the CFA Institute and pay an enrollment fee. The cost for each exam level varies depending on when you register; however, it typically ranges from $450 to $1,200 per exam level. Additionally, there are fees associated with membership in the CFA Institute which range from $350 to $550 per year depending on your country of residence.

Overall, becoming a Chartered Financial Analyst can be an expensive endeavor but it can also open up many opportunities in terms of career advancement and higher salaries for those who pass all three levels of exams successfully.

2. Certified Banking and Credit Analyst (CBCA)

Certified Banking and Credit Analyst (CBCA) is a professional certification program offered by the American Bankers Association (ABA). It is designed to provide banking and credit professionals with the knowledge, skills, and abilities necessary to analyze financial statements, evaluate creditworthiness, and manage risk. The certification program consists of three levels: Basic, Intermediate, and Advanced.

The Basic level of the CBCA certification program is designed for those who are new to banking or credit analysis. It covers topics such as financial statement analysis, bank regulations and compliance, loan origination and evaluation, asset management, customer service and operations. This level takes approximately 45 hours of study time to complete.

The Intermediate level focuses on more advanced topics such as portfolio management, capital markets analysis, credit risk management, derivatives valuation and structured finance. This level requires approximately 90 hours of study time to complete.

The Advanced level covers complex topics such as derivative pricing models, advanced portfolio management techniques and international banking regulations. This level requires approximately 150 hours of study time to complete.

To get certified in CBCA you must first register with ABA's online portal at abaecommerce.org/courses/certified-banking-and-credit-analyst/. After registering you will be able to purchase the course materials for each level separately or you can purchase all three levels together at a discounted rate. The cost of the course materials varies depending on which option you choose but typically ranges from $150-$400 USD per level or $800-$1000 USD for all three levels combined.

3. Chartered Institute of Bankers (CIB)

The Chartered Institute of Bankers (CIB) is a professional body for banking and finance professionals in the UK. It was established in 1879 and is the oldest professional body for bankers in the world.

It provides qualifications, training, and guidance to those working in banking and finance. It also provides members with access to resources such as publications, conferences, and networking opportunities.

To become a member of CIB, you must have at least three years' work experience in a relevant field. You must also pass an online assessment that covers topics such as banking regulations and financial services law. Once you have passed the assessment, you can apply for membership of CIB.

Membership costs £200 per year and includes access to a range of benefits such as discounts on training courses, access to publications, and networking opportunities. There are also additional fees for taking exams or attending conferences.

In conclusion, the Chartered Institute of Bankers (CIB) is a professional body for banking and finance professionals in the UK that provides qualifications, training, guidance, resources, and networking opportunities to its members. To become a member you must have at least three years' work experience in a relevant field and pass an online assessment. Membership costs £200 per year plus additional fees for exams or conferences.

4. Certified International Investment Analyst (CIIA)

Certified International Investment Analyst (CIIA) is an international certification program for investment professionals. It is offered by the Association of Certified International Investment Analysts (ACIIA). The CIIA program provides a comprehensive knowledge base in the field of international investments, including portfolio management, financial analysis, and global markets.

The CIIA program consists of four modules: Core Principles of International Investment Analysis; International Equity Analysis; Fixed Income Analysis; and Derivatives and Alternative Investments. Each module includes lectures, case studies, and exams that must be completed to earn the designation. The entire program typically takes between 6-12 months to complete depending on the individual’s commitment to study and practice.

To get certified as a CIIA, individuals must first register with ACIIA and pay the associated fees. Once registered, they can begin studying for the four modules at their own pace or attend classes offered by ACIIA or its partners. After completing all four modules, individuals must pass an online exam administered by ACIIA in order to receive their certification.

The cost of becoming a CIIA varies depending on whether you choose to take classes or self-study for the program. If taking classes through ACIIA or its partners, it typically costs around $4,000-$5,000 USD for all four modules combined. If self-studying for the CIIA program without taking classes, it typically costs around $2,500-$3,000 USD for all four modules combined.

5. Financial Risk Manager (FRM)

Financial Risk Manager (FRM) is a professional certification program offered by the Global Association of Risk Professionals (GARP). It is designed to equip risk professionals with the skills and knowledge to effectively measure, manage, and report on financial risks. The FRM exam consists of two parts: Part I and Part II. Both parts must be completed in order to become certified as an FRM.

Part I of the FRM exam focuses on foundational concepts in financial risk management. It covers topics such as quantitative analysis, financial markets and products, valuation and risk models, and foundations of risk management. Part I is typically taken first, although it can be taken before or after Part II.

Part II of the FRM exam focuses on application-oriented topics in financial risk management. It covers topics such as credit risk, operational risk, market risk, integrated risk management, investment management, derivatives, portfolio management and more.

The FRM Program requires a minimum commitment of approximately 200 hours of study time for both Parts I & II combined. However, most candidates spend much more than that due to their individual learning styles and goals.

In order to get the Financial Risk Manager (FRM) designation you must pass both Parts I & II of the exam within four years from when you sit for your first part. You must also meet GARP’s eligibility requirements which includes having at least two years of professional experience in finance or related fields prior to taking either part of the exam.

The cost for taking both Parts I & II combined is $1,500 USD plus applicable taxes/fees depending on where you are sitting for the exams. Additionally there are other costs associated with studying for the exams such as textbooks or online courses which can range from $100-$2,000 USD depending on what materials you choose to use for your studies.

6. Chartered Alternative Investment Analyst (CAIA)

Chartered Alternative Investment Analyst (CAIA) is a professional designation for individuals who specialize in alternative investments. It is the only globally recognized credential for alternative investment education and is awarded by the Chartered Alternative Investment Analyst Association (CAIAA). The CAIA designation is designed to provide financial professionals with specialized knowledge of alternative investments, including hedge funds, private equity, real estate, commodities, and structured products.

The CAIA program consists of two levels of exams: Level I and Level II. Level I focuses on basic concepts related to alternative investments such as asset classes, portfolio management, risk management, and performance measurement. Level II builds on the foundational knowledge gained in Level I by focusing on more advanced topics such as derivatives and structured products.

To obtain the CAIA designation, candidates must pass both Levels I and II of the exam. The exams are offered twice per year at various locations around the world. Candidates must also complete an online application process and pay an application fee before they can register for either exam.

The cost of obtaining the CAIA designation varies depending on which level you are taking and where you take it. Generally speaking, it costs approximately $1,500 USD for each level of the exam plus any applicable taxes or fees associated with taking it in your region.

7. Global Association of Risk Professionals (GARP)

Global Association of Risk Professionals (GARP) is a professional association dedicated to the promotion of risk management and the advancement of risk professionals. GARP provides education, training, and certification in the field of risk management, as well as networking opportunities for risk professionals.

GARP offers two certifications: Financial Risk Manager (FRM) and Energy Risk Professional (ERP). To become certified, applicants must pass two rigorous exams that cover topics such as financial markets and products, quantitative analysis, market risk management, credit risk management, operational risk management, energy markets and pricing, energy derivatives trading strategies, and energy portfolio optimization.

The FRM exam is offered twice a year in May and November. The ERP exam is offered once a year in November. Both exams consist of two parts: Part I covers foundational concepts; Part II covers advanced topics. Each part consists of 100 multiple-choice questions that must be completed within four hours.

The cost to register for either exam is $950 USD for GARP members or $1125 USD for non-members. In addition to the registration fee, applicants must also pay an additional fee for study materials ($400 USD for GARP members or $500 USD for non-members).

Once applicants have passed both parts of the exam with a minimum score of 70%, they will receive their certification from GARP.

8. Certified Treasury Professional (CTP)

The Certified Treasury Professional (CTP) designation is a professional certification offered by the Association for Financial Professionals (AFP). It is designed to recognize individuals who have demonstrated a high level of competency in the field of treasury management. The CTP credential is held by financial professionals working in corporate finance, banking, investment, and other related fields.

To be eligible for the CTP certification, applicants must meet certain educational and work experience requirements. Applicants must have at least three years of treasury-related work experience or two years of experience plus an undergraduate degree in finance or accounting. Those with less than three years of experience may qualify if they hold a graduate degree in finance or accounting.

To obtain the CTP certification, applicants must pass an exam administered by AFP. The exam consists of 150 multiple-choice questions covering topics such as cash and liquidity management, risk management, investments, foreign exchange and derivatives, payments systems, and financial analysis. The exam takes four hours to complete and costs $550 for AFP members ($750 for non-members).

9. American Bankers Association's National Commercial Lending School

The American Bankers Association’s National Commercial Lending School is a comprehensive training program designed to provide commercial lenders with the knowledge and skills necessary to succeed in today’s competitive banking environment. The program is offered in two formats: a three-day classroom-based course or an online self-paced course.

The three-day classroom-based course consists of lectures, case studies, and hands-on activities that cover topics such as credit analysis, loan structuring, risk management, and more. It typically takes place over the course of three consecutive days at various locations throughout the United States.

To get the National Commercial Lending School certification, you must complete either the three-day classroom-based course or the online self-paced course. Upon completion of either program, you will receive a certificate of completion from ABA.

The cost for the three-day classroom-based course is $1,795 for ABA members and $2,295 for nonmembers. The cost for the online self-paced course is $1,595 for ABA members and $2,095 for nonmembers.

10. Graduate Certificate in Banking and Finance

A Graduate Certificate in Banking and Finance is a postgraduate qualification that provides students with a comprehensive understanding of the banking and finance industry. It is designed to equip graduates with the skills and knowledge necessary to pursue a career in banking, finance or related industries. The program typically takes one year to complete and consists of four courses focusing on topics such as financial markets, banking systems, corporate finance, investments, risk management, international banking and financial regulation.

In order to obtain a Graduate Certificate in Banking and Finance, you must first have an undergraduate degree in a relevant field such as economics or business. You will then need to apply for admission into the program at your chosen university or college. Once accepted into the program, you will be required to complete the four courses within one year.

The cost of obtaining a Graduate Certificate in Banking and Finance depends on the university or college you choose to attend. Generally speaking, tuition fees range from $5,000-$10,000 USD per course depending on the institution. Additional costs may include books, materials and other associated fees.

11. The Institute of Banking and Finance's Professional Diploma in Banking

The Institute of Banking and Finance's Professional Diploma in Banking is a comprehensive course designed to provide individuals with the skills and knowledge needed to pursue a successful career in banking. The program covers topics such as financial management, banking operations, customer service, risk management, and more. It is an ideal option for those who are interested in pursuing a career in banking or finance.

The Professional Diploma in Banking takes approximately 12 months to complete. During this time, students will be required to attend lectures, seminars, workshops, and online courses. They will also have to complete assessments and examinations throughout the program. Upon completion of the diploma program, graduates will receive a certificate from the Institute of Banking and Finance that is recognized by employers worldwide.

In order to get the Professional Diploma in Banking, applicants must first meet certain eligibility criteria which include having at least three years of relevant work experience or completing an accredited degree program related to banking or finance. Additionally, applicants must pass an entrance examination administered by the institute before they can be accepted into the program.

The cost of the Professional Diploma in Banking depends on several factors including location and duration of study. Generally speaking, it costs around $4-5K USD for international students and around $2-3K USD for domestic students.

Do You Really Need a Banking Analyst Certificate?

When it comes to making a career in banking and finance, many individuals may wonder if they need a banking analyst certificate. The answer is both yes and no. It depends on the individual's goals and the specific job they are looking for. For those who have an interest or aptitude for financial analysis, a banking analyst certificate can be a great way to gain the skills and knowledge needed to become successful in this field.

On the other hand, not everyone needs a banking analyst certificate to get their foot in the door of the banking industry. Many employers look at experience, work ethic and education when considering potential candidates for positions. A degree or certification may help an individual stand out from others who are applying for similar positions, but it is not always necessary.

For those who are interested in pursuing a career as a banking analyst, however, having a certification can provide them with an edge over their competition when applying for jobs. A quality certification program will provide students with essential skills such as financial statement analysis, credit analysis and risk management. Having these skills under your belt can certainly make you more attractive to potential employers than someone without such knowledge and experience.

Additionally, having a certified background can open up more opportunities in terms of promotions or higher-level positions within organizations. Many employers view certifications as proof that an individual has taken the initiative to learn more about their chosen profession and has dedicated themselves to becoming an expert in their field. This kind of dedication is highly valued by many companies looking for employees that can take on greater responsibilities within the organization.

In conclusion, whether or not you need a banking analyst certificate depends on your individual circumstances and goals. If you want to pursue a career in this field and believe that having additional knowledge and qualifications would give you an advantage over other applicants then getting certified could be beneficial for you. On the other hand, if you already have sufficient experience or education it may not be necessary for you to obtain certification as well.

Related: Banking Analyst Resume Examples

FAQs About Banking Analyst Certifications

1. What is a Banking Analyst Certification?

Answer: A Banking Analyst Certification is a professional certification designed to provide individuals with the skills and knowledge necessary to work as an analyst in the banking industry. It typically covers topics such as financial analysis, accounting, risk management and economics.

2. What are the requirements to become certified?

Answer: The requirements vary depending on the certifying body, but generally include passing an exam, demonstrating experience in banking or finance, submitting references and completing continuing education credits.

3. How long does it take to become certified?

Answer: The length of time can vary depending on the certifying body and individual circumstances; however, most programs require between six months and two years of study and preparation before taking the exam.

4. What is the cost associated with becoming certified?

Answer: Costs will vary depending on which certification program you choose; however, most programs charge a registration fee that ranges from $100-$500 and may also require additional fees for textbooks or online courses.

5. Are there any benefits associated with becoming certified?

Answer: Yes! Becoming certified demonstrates your commitment to professional development in the banking industry and can help you stand out among other job applicants when applying for banking analyst roles. Additionally, many employers offer salary increases or bonuses to employees who have achieved this certification level.