Top 10 Business Banker Certifications

Certifications are important for a business banker in the job market because they provide employers with evidence that the individual has the requisite expertise and knowledge of banking principles and practices to successfully manage business banking accounts. They also demonstrate that the individual is committed to professional development and has developed specific skills in areas such as commercial lending, risk management, financial analysis, and customer service. Having certifications can help a business banker stand out from other applicants and show that they have taken initiative to develop their skillset. Employers also value certifications because they show an understanding of relevant regulations, laws, and industry standards.

This article reviews the top certifications for Business Bankers and explains how they can help to advance a business banker's career.

What are Business Banker Certifications?

Business banker certification is a professional credential designed to equip financial services professionals with the knowledge and skills necessary to provide sound banking advice, products, and services. This certification offers aspiring bankers a comprehensive understanding of the banking industry, including financial analysis, risk management, customer service, sales and marketing, and compliance regulations.

Having this certification can give business bankers a competitive edge over their peers. It can demonstrate to employers that they have the knowledge and experience necessary to handle complex transactions and advise customers on the best banking solutions for their needs. Additionally, it can help them stay up to date on industry trends, laws and regulations so they can provide more accurate advice when dealing with clients. Finally, it provides recognition from peers in the field as well as from employers who are looking for qualified candidates that have achieved this level of expertise in the banking industry.

Pro Tip: To become a certified business banker, make sure to complete the recommended education and training courses. Additionally, take advantage of professional development opportunities, such as attending industry conferences and seminars, to stay up-to-date on market trends and best practices.

Related: What does a Business Banker do?

Top 10 Business Banker Certifications

Here’s our list of the best certifications available to Business Bankers today.

1. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation awarded by the Certified Financial Planner Board of Standards, Inc. (CFP Board). The CFP certification indicates that an individual has met the rigorous education, examination, experience, and ethics requirements set forth by the CFP Board.

The CFP designation is considered to be one of the most respected financial planning credentials in the United States and around the world. It signifies that an individual has achieved a high level of knowledge and competence in providing financial advice and services to individuals, families, and businesses.

In order to become a CFP, individuals must complete certain educational requirements. This includes completing college-level coursework in areas such as financial planning, insurance planning, estate planning, retirement planning, taxation, investments, and more. Individuals must also pass a comprehensive two-day exam administered by the CFP Board.

In addition to completing educational requirements and passing the exam, individuals must also have at least three years of full-time financial planning experience prior to applying for certification. They must also agree to abide by the CFP Board’s Code of Ethics and Professional Responsibility.

It typically takes between two to four years to complete all of the necessary requirements for certification as a CFP. The cost for becoming a CFP varies depending on which courses are taken and how long it takes to complete them; however it typically ranges from $2,000-$4,000 USD.

2. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation awarded by the CFA Institute to individuals who have met their rigorous standards of education, experience, and ethics. The CFA Program is a globally recognized credential that measures the knowledge, skills, and abilities of financial analysts in the investment industry. It is one of the most sought-after qualifications for those seeking to enter or advance in the field of finance.

The CFA Program consists of three levels that must be completed sequentially. Each level requires passing an exam and meeting certain work experience requirements. The program typically takes between two and four years to complete depending on how quickly you can study and pass each level’s exam.

To get started on your path towards becoming a CFA charterholder, you must first become a member of the CFA Institute. This involves submitting an application along with payment of an annual membership fee. Once accepted as a member, you will receive access to online learning materials and practice exams that can help you prepare for each level’s exam.

The cost of taking all three levels of the CFA Program varies depending on where you live and what type of membership you have with the CFA Institute. Generally speaking, it will cost around $3,000-$4,000 USD for all three levels combined. This includes registration fees for each level’s exam as well as other costs such as books and study materials.

3. Certified Treasury Professional (CTP)

The Certified Treasury Professional (CTP) is a professional certification program offered by the Association for Financial Professionals (AFP). It is designed to recognize and validate treasury professionals who demonstrate a high level of knowledge, skills and abilities in the field of treasury management.

To obtain the CTP designation, an individual must meet certain requirements, including having at least three years of experience in treasury or related fields, passing a comprehensive exam, and agreeing to adhere to the AFP Code of Ethics. The CTP exam consists of two parts: a written portion and a case study portion. The written portion covers topics such as cash management, investments, risk management, international finance, financial analysis and technology. The case study portion requires candidates to analyze real-world scenarios and apply their knowledge to develop solutions.

The cost for taking the CTP exam varies depending on whether you are an AFP member or non-member. For AFP members, the cost is $450; for non-members it is $650. Additionally, there may be additional fees associated with retaking the exam if necessary.

It typically takes around 3 months from when you register for the exam until you receive your results. Once you have passed the exam, you will receive your official CTP certificate within 6 weeks.

4. Certified Investment Management Analyst (CIMA)

Certified Investment Management Analyst (CIMA) is a professional certification offered by the Investments & Wealth Institute, formerly known as the Investment Management Consultants Association (IMCA). It is designed to provide financial advisors and other professionals with specialized knowledge in investment management and wealth planning. CIMA certification requires candidates to demonstrate their understanding of advanced investment concepts, strategies, and portfolio construction techniques.

It typically takes candidates 6-12 months to complete all the requirements for CIMA Certification. The program consists of three components: an online self-study course; a comprehensive exam; and a practical application project.

To become certified, individuals must first complete the CIMA Self-Study Course which covers topics such as portfolio management, asset allocation, risk management, and more. After completing the coursework, candidates must pass a comprehensive exam administered by IMCA. Finally, they must submit a practical application project demonstrating their ability to apply their knowledge in real-world situations.

The cost of obtaining CIMA certification varies depending on your membership status with IMCA. For non-members, the total cost is $1,995 USD which includes the self-study course ($1,495 USD), exam fee ($395 USD), and application fee ($105 USD). For members of IMCA, the total cost is $1,445 USD which includes the self-study course ($995 USD), exam fee ($395 USD), and application fee ($55 USD).

5. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to individuals who have met certain educational, experience and examination requirements set by the state in which they practice. CPAs are responsible for providing financial services such as auditing, tax preparation, consulting, and financial planning.

In order to become a CPA, you must meet the education and experience requirements of your particular state's board of accountancy. Generally speaking, these requirements include completing a minimum of 150 semester hours of college-level coursework from an accredited institution; passing the Uniform CPA Exam; and obtaining one year or more of accounting-related experience. The exam consists of four sections: Auditing & Attestation; Business Environment & Concepts; Financial Accounting & Reporting; and Regulation.

The cost to become a CPA varies depending on the state in which you are applying for licensure. Generally speaking, it can range anywhere from $100 - $600 for application fees alone. In addition to this fee, there may be additional costs associated with taking the exam such as registration fees ($180 - $200), review courses ($1,000 - $3,000), study materials ($100 - $500), and travel expenses if you need to take the exam in another state.

It typically takes between six months and two years to become a CPA depending on how quickly you can complete all the necessary steps (e.g., completing college coursework, studying for and passing the exam).

6. Certified International Investment Analyst (CIIA)

Certified International Investment Analyst (CIIA) is an internationally recognized professional certification for investment analysts, portfolio managers and other financial professionals. The CIIA program is designed to provide a comprehensive understanding of international investment analysis and portfolio management. It focuses on the practical application of global financial markets, asset classes, portfolio construction and risk management.

The CIIA program consists of three levels of certification: Certified International Investment Analyst (CIIA), Chartered International Investment Analyst (CIIA-C) and Master Certified International Investment Analyst (MCIIA). To become a CIIA, candidates must pass a series of exams that cover topics such as capital markets, economics, quantitative methods, portfolio management and risk management.

The CIIA program typically takes between 6 months to 1 year to complete depending on the level of certification sought. To get the CIIA designation, candidates must first register with the Financial Industry Regulatory Authority (FINRA) or another approved regulatory body. Candidates then need to complete all required courses in order to be eligible for the exam. After successfully passing the exam, candidates will receive their certificate from FINRA or other approved regulatory body.

The cost of obtaining the CIIA designation varies depending on the level of certification sought and whether you are taking online courses or attending in-person classes. Generally speaking, it can range from $1,000-$3,000 USD for online courses or $2,500-$5,000 USD for in-person classes.

7. Accredited Business Valuator (ABV)

Accredited Business Valuator (ABV) is a professional designation that is awarded by the American Society of Appraisers (ASA). The ABV credential is designed to recognize individuals who have achieved a high level of knowledge and expertise in the field of business valuation.

To become an ABV, candidates must complete a rigorous educational program and pass a comprehensive exam. The educational program consists of three courses: Business Valuation Principles, Business Valuation Applications and Advanced Business Valuation. Each course typically takes between two and four months to complete, depending on the individual's learning pace.

Candidates must also have at least five years of experience in business valuation or related fields such as accounting, finance or economics. In addition, they must demonstrate their ability to perform quality valuations by submitting three written reports for review by ASA members who are accredited business appraisers.

The cost to become an ABV varies depending on the number of courses taken and whether or not the candidate has already completed some of the required courses prior to applying for certification. Generally speaking, it costs around $3,000-$4,000 for all three courses and exam fees combined.

In order to maintain their ABV credentials, professionals must complete continuing education credits every two years and submit additional written reports for review every four years.

8. Chartered Banker Professional (CBP)

Chartered Banker Professional (CBP) is a professional qualification offered by the Chartered Banker Institute in the UK. It is designed to equip banking professionals with the knowledge and skills required to provide excellent customer service, manage risk, and ensure compliance with regulations. The CBP is one of the most highly respected qualifications in banking and financial services.

The CBP requires candidates to complete three core modules: Banking Principles & Practices, Risk Management & Compliance, and Financial Services Regulation. Each module consists of a series of lectures, workshops, and assessments that must be completed within a specified time frame. Candidates must also pass an exam at the end of each module in order to obtain their CBP certification.

The total cost for obtaining the CBP qualification varies depending on how many modules you choose to take and which institution you study with. Generally speaking, it can cost anywhere from £1,000 - £4,000 for all three modules combined.

In terms of how long it takes to get your CBP certification, this depends on how quickly you are able to complete each module and pass the associated exams. Generally speaking, it can take up to 12 months or longer if you are studying part-time or taking a break between modules.

9. Global Association of Risk Professionals (GARP) Financial Risk Manager (FRM)

The Global Association of Risk Professionals (GARP) Financial Risk Manager (FRM) is a professional certification program designed to demonstrate an individual’s knowledge and understanding of financial risk management. The FRM certification is widely recognized as the most comprehensive and respected risk management certification available in the financial industry.

It takes approximately 6-12 months to complete the FRM program, depending on how much time you have available for studying. The exam consists of two parts, Part I and Part II, which are both offered twice a year in May and November. To obtain the FRM designation, you must pass both exams.

To get started with the FRM program, you will need to register with GARP and purchase study materials from their website or other online sources. You can also find study groups online or attend live classes for additional support. Once you have registered for the exam, it’s important to create a study plan that fits your schedule and allows you to adequately prepare for each part of the exam.

The cost of obtaining the FRM designation varies depending on where you purchase your study materials and whether or not you choose to attend live classes. Generally speaking, expect to pay around $1,000-$2,000 USD for all necessary materials and fees associated with registering for the exam.

10. Chartered Alternative Investment Analyst (CAIA).

Chartered Alternative Investment Analyst (CAIA) is a professional designation awarded by the Chartered Alternative Investment Analyst Association (CAIAA). It is an internationally recognized, graduate-level credential for professionals in the alternative investments industry. The CAIA designation is designed to provide a comprehensive understanding of the various alternative investment strategies, asset classes, and risk management techniques used in today’s global financial markets.

To obtain the CAIA designation, individuals must complete two levels of exams and meet certain educational requirements. Level I requires that applicants have at least a bachelor's degree from an accredited university or college and pass an online exam. Level II requires that applicants have at least two years of relevant work experience and pass a more advanced online exam. Both levels require that applicants demonstrate knowledge of the core concepts and principles of alternative investments.

The cost to obtain the CAIA designation varies depending on whether you are an individual or corporate member of CAIAA. For individuals, it costs $1,495 USD to register for both Levels I and II exams plus an additional $195 USD for each level if you are taking them separately. Corporate members pay $2,995 USD for both Levels I and II plus an additional $295 USD per level if taken separately.

It typically takes about 6 months to 1 year to prepare for both levels of exams depending on how much time you are able to devote to studying. However, many people take longer than this due to other commitments such as work or family obligations. Additionally, there are several study resources available from CAIAA including books, practice exams, webinars and more which can help speed up the process.

Do You Really Need a Business Banker Certificate?

The answer to this question depends on the individual’s goals and ambitions. A business banker certificate can be beneficial for those looking to further their career in banking or finance, as it provides a formal qualification that employers may look for when selecting applicants for positions. Furthermore, the certificate can also provide a foundation of knowledge in banking and finance that can help individuals pursue more advanced roles within the industry.

At the same time, many people enter banking or finance without a formal qualification and are able to find success through hard work and dedication. Therefore, whether or not someone needs a business banker certificate will depend on their individual circumstances. For example, if an individual is looking to move up quickly within the industry or gain access to higher-level positions, then having a certificate may be beneficial. On the other hand, if an individual is content with their current role and has no aspirations of pursuing higher-level roles in banking or finance, then they may not need a business banker certificate.

Ultimately, whether or not someone needs a business banker certificate is something that each individual should consider carefully based on their own ambitions and goals. It is important to weigh up all options before making any decisions regarding furthering your education in this field.

Related: Business Banker Resume Examples

FAQs About Business Banker Certifications

1. What certifications are available for business bankers?

A: There are several certifications available for business bankers, including the Certified Commercial Loan Officer (CCLO) certification from the Institute of Financial Education, the Certified Business Banker (CBB) certification from the American Bankers Association, and the Professional Business Banker (PBB) certification from the American Institute of Banking.

2. How do I become certified as a business banker?

A: To become certified as a business banker, you must first meet any prerequisites established by the certifying organization. After that, you will need to pass an exam to demonstrate your knowledge and skills in areas such as credit analysis, commercial loan origination and lending practices.

3. What is required to maintain my business banker certification?

A: Most certifying organizations require that you complete continuing education courses or seminars related to banking every two years in order to maintain your certification. You may also be required to take additional exams or assessments in order to keep your certification up-to-date.

4. How long does it take to obtain a business banker certification?

A: This depends on which type of certification you are pursuing and how much prior experience you have in banking or finance. Generally speaking, obtaining a business banker certification can take anywhere from 6 months to 2 years depending on your commitment and dedication to studying for the exams and completing any additional requirements necessary for obtaining the certification.

5. Are there any online programs available for obtaining a business banker certification?

A: Yes, there are online programs available that offer courses related to banking and financial services that can help prepare you for becoming certified as a business banker. However, most certifying organizations require that applicants complete an in-person examination before being awarded their credentials.