Top 10 Banking Manager Certifications

Certifications are an important part of a banking manager's job market success. They demonstrate to employers that the individual has a certain level of knowledge and experience in the banking industry. In addition, certifications often come with continuing education requirements, which can help keep a banking manager up-to-date on the latest regulations and trends in the industry. Having certifications also shows potential employers that the individual is committed to their career and has taken initiative to further their knowledge. Finally, certifications can help set one candidate apart from another in a competitive job market.

The purpose of this article is to review and explain the top certifications for Banking Managers and how they can benefit a banking manager's career.

What are Banking Manager Certifications?

Banking Manager Certification is a professional certification program designed to help banking professionals demonstrate their knowledge and proficiency in the banking industry. This certification is offered by various organizations such as the American Bankers Association (ABA), the Institute of Financial Services (IFS), and the Certified Financial Managers Association (CFMA). The program is designed to ensure that banking professionals are knowledgeable about current industry practices, regulations, and products.

This certification can provide a number of benefits to those who hold it. It can help banking professionals enhance their skills and knowledge while gaining recognition from employers, customers, and peers. With this certification, bankers will be able to better understand the changing regulatory environment and how to best serve customers with new products or services. Furthermore, banks may require that certain positions be filled by individuals with this certification in order to remain compliant with regulations set forth by government agencies. Additionally, obtaining this certification can open up new career opportunities for those interested in advancing within their current role or transitioning into different areas of banking.

Pro Tip: Make sure to research the qualifications required by your specific bank or financial institution when it comes to becoming a banking manager. Many organizations require certification or have their own in-house training programs, so be sure to check with your employer before enrolling in any external courses.

Related: What does a Banking Manager do?

Top 10 Banking Manager Certifications

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

1. Certified Financial Manager (CFM)

Certified Financial Manager (CFM) is a professional certification awarded by the Institute of Certified Financial Managers (ICFM) to individuals who demonstrate a high level of expertise and knowledge in the financial management field. The CFM designation is an internationally recognized credential that signifies an individual’s commitment to excellence in financial management.

The CFM program requires candidates to pass a comprehensive exam that covers topics such as financial analysis, investment planning, budgeting and forecasting, risk management, and other related areas. To be eligible for the exam, applicants must have at least three years of full-time professional experience in finance or accounting.

It typically takes six months to two years of study and preparation to pass the CFM exam. Candidates are encouraged to use available resources such as textbooks, online courses, webinars, and practice exams to help them prepare for the test.

The cost of obtaining the CFM designation varies depending on the country in which it is taken. In most countries, there is an application fee plus an examination fee. The total cost can range from $500 USD to $2,000 USD or more depending on the country and currency exchange rates.

2. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional designation for finance and treasury professionals. It is administered by the Association for Financial Professionals (AFP). The CTP certification is designed to recognize the expertise of treasury professionals in areas such as cash management, investments, risk management, and financial analysis.

To become a Certified Treasury Professional, you must have at least two years of experience in the field of treasury and finance as well as pass an exam. The exam consists of 130 multiple-choice questions covering topics such as cash management, investments, risk management, financial analysis, and treasury operations. To maintain your certification status, you will need to complete 30 hours of continuing education every three years.

The cost to take the CTP exam varies depending on whether or not you are a member of AFP. For non-members, the cost is $750 USD while members pay $450 USD. Additionally, there may be other costs associated with taking the exam such as travel expenses or study materials.

Overall it can take anywhere from 6 months to 1 year to prepare for and obtain your CTP certification depending on how much time you dedicate to studying and preparation.

3. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation awarded by the CFA Institute to financial and investment professionals. The CFA designation is recognized globally as the highest standard of excellence in investment management and financial analysis. It is an advanced, post-graduate level program that covers a broad range of topics related to investments, portfolio management, financial analysis, and ethical and professional standards.

To become a CFA charterholder, candidates must pass three levels of exams administered by the CFA Institute. The exams are offered twice a year in June and December. Each exam consists of 240 multiple choice questions that cover topics such as economics, accounting, corporate finance, security analysis, ethics, quantitative methods, derivatives, fixed income securities, alternative investments and portfolio management.

It typically takes around four years to complete all three levels of the CFA Program. Candidates must have at least four years of qualified work experience in order to be eligible for the charter.

The cost of the CFA Program varies depending on when you register for the exams and which level you are taking. Registration fees range from $450-$950 per exam depending on when you register for each exam level. In addition to registration fees there are also study materials costs which can range from $400-$800 per level depending on which materials you purchase.

4. Certified Investment Management Analyst (CIMA)

Certified Investment Management Analyst (CIMA) is a professional designation issued by the Investment Management Consultants Association (IMCA). It is designed to recognize financial professionals who have demonstrated knowledge and experience in investment management. CIMA certification requires a combination of education, experience, and examination.

To become a CIMA, candidates must complete an IMCA-approved program, which typically involves completing an online course and passing the CIMA exam. The online course covers topics such as asset allocation, portfolio construction, risk management, and investment strategies. Candidates must also have at least three years of professional experience in the financial services industry.

The CIMA exam consists of 150 multiple-choice questions and takes approximately four hours to complete. The exam fee is $595 for members of IMCA or $795 for non-members. After passing the exam, candidates must pay an annual fee of $150 to maintain their CIMA certification.

Overall, it can take up to six months or more to become a Certified Investment Management Analyst (CIMA).

5. Certified Bank Auditor (CBA)

Certified Bank Auditor (CBA) is a professional certification offered by the Institute of Certified Bank Auditors (ICBA). It is designed to recognize individuals who have demonstrated a high level of expertise in bank auditing. The CBA certification is an internationally recognized credential, and provides assurance that the individual has the knowledge and skills necessary to perform effective bank audits.

The CBA certification requires successful completion of two exams: one on banking regulations and another on auditing principles. The exams are administered by ICBA and must be taken within two years of each other. Both tests require a passing score of 70% or higher in order to receive the CBA designation.

The cost for taking the CBA exam varies depending on the country where it is taken. In the United States, it typically costs between $400-$600 per exam, plus any applicable taxes or fees. In some countries, such as Canada, there may be additional fees associated with taking the exam outside of their country.

Overall, it can take anywhere from six months to two years to complete all requirements for receiving the CBA designation, depending on how quickly you are able to study for and pass both exams.

6. Certified Public Banker (CPB)

Certified Public Banker (CPB) is a professional certification program designed to recognize banking professionals who have achieved a high level of knowledge and expertise in the field. The CPB designation is awarded by the Institute of Certified Bankers (ICB), a subsidiary of the American Bankers Association (ABA).

The CPB program requires candidates to pass an exam that covers topics such as financial management, banking regulations, customer service, and risk management. Candidates must also demonstrate their commitment to professional development through continuing education credits. To be eligible for the CPB designation, candidates must have at least two years of experience in banking or related fields.

It typically takes between six months and one year to complete the requirements for the CPB designation. The cost for the exam varies depending on where you live but it usually ranges from $250-$400 USD. Additionally, there may be additional costs associated with obtaining continuing education credits or other materials needed for study.

To get started on your path towards becoming a Certified Public Banker, you will need to register with ICB and pay the required fee. Once registered, you will receive access to study materials and information about upcoming exam dates and locations. After studying for the exam, you can then schedule your test date with ICB and take the exam at a designated testing center near you. Upon successful completion of the exam, you will receive your CPB designation certificate from ICB.

7. Certified Credit Union Executive (CCUE)

Certified Credit Union Executive (CCUE) is a certification program designed to recognize credit union professionals who have demonstrated a high level of knowledge and expertise in the field. The CCUE certification is offered by the Credit Union National Association (CUNA), the leading trade association for credit unions.

The CCUE certification is earned through a rigorous process that includes passing an exam, completing a series of courses, and maintaining professional development activities. To be eligible for the CCUE certification, applicants must have at least five years of experience in credit union management or operations.

To get the CCUE certification, applicants must first complete two online courses: Credit Union Management & Operations and Financial Analysis & Reporting. These courses are offered by CUNA and cost $349 each. After completing these courses, applicants must pass an exam administered by CUNA to earn their certification. The exam costs $299 and can be taken online or in-person at one of CUNA’s testing centers.

In total, it takes about six months to complete all of the requirements for the CCUE certification. The cost of obtaining the certification is approximately $947 ($349 + $349 + $299).

8. Chartered Institute of Bankers in Scotland (CIBS)

The Chartered Institute of Bankers in Scotland (CIBS) is a professional body for bankers in Scotland. It was established in 1875 and is the oldest banking institute in the world. The CIBS provides qualifications, training, and professional development to its members.

It takes around two years to gain the CIBS qualification. This includes studying for the Certificate in Banking, which covers topics such as financial services regulation, banking operations, and customer service. Once this has been completed, candidates can then move onto the Diploma in Banking which covers more advanced topics such as risk management and credit analysis.

To become a member of CIBS you must be employed by a bank or other financial institution operating in Scotland or have an interest in Scottish banking. You must also pass the relevant exams and pay an annual subscription fee.

The cost of joining CIBS depends on your membership level; however, it typically ranges from £50 - £100 per year depending on your circumstances.

9. Certified International Banker (CIB)

Certified International Banker (CIB) is an internationally-recognized professional designation awarded by the Institute of International Finance (IIF). It is designed to recognize individuals who have achieved a high level of knowledge and expertise in international banking. The CIB program provides a comprehensive understanding of the global banking industry, including topics such as risk management, capital markets, financial regulation, and corporate governance.

The CIB program consists of two levels: Level I and Level II. Level I focuses on the fundamentals of international banking, while Level II focuses on more advanced topics such as financial modeling, investment banking, and derivatives trading. To earn the CIB designation, candidates must pass both levels of the exam.

The CIB program typically takes about one year to complete. Candidates are expected to attend online classes or seminars for each level of the exam and then take a final exam at an approved testing center.

The cost of the CIB program varies depending on where you take it and what type of materials you purchase for study purposes. Generally speaking, it can range from $500-$1,000 USD for both levels combined.

10. Global Association of Risk Professionals Certification in Banking Risk and Regulation (GARP-CBRR).

GARP-CBRR stands for Global Association of Risk Professionals Certification in Banking Risk and Regulation. It is a certification program designed to provide banking professionals with the knowledge and skills needed to effectively manage risk within their organizations. The program focuses on key areas such as credit risk, market risk, operational risk, liquidity risk, and regulatory compliance.

The GARP-CBRR certification requires a minimum of two years of experience in banking or related fields. Candidates must also pass an exam that covers topics such as banking regulations, financial markets, economic principles, and risk management techniques. The exam consists of 150 multiple choice questions and takes approximately three hours to complete.

To obtain the GARP-CBRR certification, candidates must first register online at the GARP website. After registering, they will receive an email with instructions on how to access the online study materials and practice exams. Once they have completed their studies and passed the exam, they will be awarded the GARP-CBRR certification.

The cost of obtaining the GARP-CBRR certification varies depending on which country you are located in but typically ranges between $500 - $1000 USD.

Do You Really Need a Banking Manager Certificate?

The short answer is no. You do not necessarily need a Banking Manager Certificate to become a successful banking manager. That said, having such certification can be beneficial for those seeking to launch or advance their career in the banking industry.

Having a Banking Manager Certificate demonstrates your commitment to the profession and provides evidence of your knowledge of banking principles, practices, and regulations. In addition, it shows that you have taken the time to gain an understanding of how banks operate and how to manage them effectively. This can be especially advantageous when applying for positions within the industry as it sets you apart from other candidates who may not have similar credentials.

Furthermore, having a Banking Manager Certificate may also give you access to specialized training and educational programs offered by banks and other financial institutions that can help you develop your skillset further. Additionally, many employers prefer job applicants with certifications as they are viewed as more reliable and knowledgeable than those without them.

In conclusion, while having a Banking Manager Certificate is not necessary for becoming an effective banking manager, it does provide numerous advantages that could help advance one's career in this field. Ultimately, it is up to each individual job seeker to decide whether or not obtaining such certification is worth the time and effort required.

Related: Banking Manager Resume Examples

FAQs About Banking Manager Certifications

Q1. What is a Banking Manager Certification?

A1. A Banking Manager Certification is a professional credential that demonstrates a person’s knowledge and skills in the banking industry. It provides employers with assurance that an individual has the necessary qualifications to manage their banking operations.

Q2. How do I become certified as a Banking Manager?

A2. To become certified as a Banking Manager, you must complete an approved certification program, such as Certified Financial Services Professional (CFSP) or Certified Treasury Professional (CTP). These programs are offered by professional organizations and require passing an examination.

Q3. What topics will be covered in a Banking Manager Certification program?

A3. The topics covered in a Banking Manager Certification program vary depending on the specific certification chosen, but typically include financial analysis, economic principles, money management, banking regulations, customer service, and risk management.

Q4. How long does it take to get certified as a Banking Manager?

A4: The amount of time needed to complete a certification program varies depending on the specific certification chosen and the individual's learning pace; however, most programs can be completed within 6-12 months of study and practice.

Q5. What are the benefits of becoming certified as a Banking Manager?

A5: Becoming certified as a Banking Manager can provide individuals with increased job opportunities and salaries, greater credibility within the banking industry, enhanced professional development opportunities, and access to specialized resources for continuing education and networking purposes.