Top 11 Finance and Administration Manager Certifications

Certifications for a finance and administration manager are important in the job market because they demonstrate a high level of knowledge and expertise in the field. They provide employers with evidence that the candidate has a deep understanding of financial principles, strategies, and regulations. Certifications also show potential employers that a finance and administration manager has taken the initiative to further their education and career by investing time and money into obtaining certifications. This can help differentiate them from other candidates who may not have such credentials, giving them an edge in the job market.

The purpose of this article is to review the top certifications for Finance and Administration Managers and explain how they can help advance their careers.

What are Finance and Administration Manager Certifications?

Finance and Administration Manager Certification is a professional credential that demonstrates a comprehensive understanding of the principles, concepts and practices of finance and administration management. It recognizes individuals who have achieved a high level of proficiency in their field through experience, education and training. The certification is designed to help individuals advance their careers by providing them with the skills, knowledge and expertise necessary to manage financial operations effectively. With this certification, finance and administration managers can demonstrate their understanding of financial management processes, as well as their ability to apply these processes to improve organizational performance.

The certification also provides employers with assurance that the individual has the necessary skills to manage finances for the organization. This includes an understanding of accounting standards, budgeting techniques, financial reporting methods and risk management strategies. Additionally, it helps employers recognize those with advanced knowledge in areas such as taxation law, auditing procedures and compliance regulations. By obtaining this certification, finance and administration managers can demonstrate that they are knowledgeable about current trends in the industry, possess strong analytical skills and understand how to use technology to increase efficiency in financial operations.

Overall, Finance and Administration Manager Certification is beneficial for both employers and employees alike. It allows finance professionals to demonstrate their expertise in the field while giving employers assurance that they are hiring qualified candidates who have a thorough knowledge of all aspects of finance management.

Pro Tip: If you are considering becoming a finance and administration manager, it is important to look into certifications that may be required. Many employers require managers to have a Certified Public Accountant (CPA) certification or similar credential in order to qualify for the position. Additionally, there are specialized certifications available for management of financial and administrative processes such as the Certified Management Accountant (CMA) and Certified Financial Planner (CFP). Taking the time to research these credentials can help ensure you have the necessary qualifications when applying for a finance and administration manager position.

Related: What does a Finance and Administration Manager do?

Top 11 Finance and Administration Manager Certifications

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

1. Certified Professional Accountant (CPA)

A Certified Professional Accountant (CPA) is a professional designation given to individuals who have met the educational, experience, and examination requirements set by their state's board of accountancy. CPAs are qualified to provide a variety of accounting services including auditing, taxation, financial planning, and consulting.

In order to become a CPA, individuals must meet the educational requirements set by their state's board of accountancy. Generally, this includes completing 150 semester hours of college-level coursework with an emphasis on accounting and business topics. In addition to these educational requirements, individuals must also pass the Uniform CPA Exam administered by the American Institute of Certified Public Accountants (AICPA).

The length of time it takes to become a CPA varies from person to person depending on their individual circumstances. It can take anywhere from two years to five years or more depending on how quickly you complete your education and pass the CPA exam.

To become a CPA you must first meet the educational requirements set by your state’s board of accountancy. Once you have completed your education and passed the CPA exam, you will need to apply for licensure with your state’s board of accountancy. The application process typically includes submitting an application form along with proof that you have met all the necessary qualifications such as passing scores on the CPA exam and any other required exams or certifications.

The cost associated with becoming a CPA varies depending on where you live and which school you attend for your education. Generally speaking, tuition costs range from $10,000-$50,000 depending on where you go to school and how long it takes you to complete your degree program. Additionally, there are fees associated with taking and passing the Uniform CPA Exam which range from $150-$1,500 depending on your state's requirements.

2. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is an advanced professional certification in the field of management accounting. It is offered by the Institute of Management Accountants (IMA). The CMA credential signifies a mastery of financial planning, analysis, control, decision support, and professional ethics.

It takes approximately 18 months to complete the CMA program. To qualify for the CMA exam, applicants must have a bachelor's degree from an accredited college or university and two years of professional experience in management accounting or financial management.

To get the CMA certification, applicants must pass two four-hour exams: one on financial planning, performance and control; and another on financial decision making. Applicants must also meet certain educational requirements before they can take the exams.

The cost of obtaining the CMA certification varies depending on where you live and which study materials you use. Generally speaking, it costs around $1,000 to $2,000 to become a Certified Management Accountant (CMA). This includes fees for registration, examination fees and study materials such as books and online courses.

3. Certified Public Finance Officer (CPFO)

Certified Public Finance Officer (CPFO) is a professional designation for individuals who have demonstrated expertise in public finance, budgeting, and financial management. This certification is awarded by the Government Finance Officers Association (GFOA) and is recognized as a sign of excellence in the field of public finance.

The CPFO program consists of three levels: Level I, Level II, and Level III. To obtain the CPFO designation, an individual must successfully complete all three levels. The program requires applicants to demonstrate their knowledge of public financial management through written exams and practical experience.

Level I requires applicants to pass a written exam covering topics such as budgeting, accounting principles, government finance operations, debt management, and financial reporting. Level II requires applicants to pass another written exam covering topics such as investment strategies, economic forecasting, capital budgeting, risk management, and performance measurement. Level III requires applicants to submit a portfolio demonstrating their knowledge of public financial management through professional practice and/or research projects.

The CPFO program typically takes two to four years to complete depending on an individual’s level of experience and commitment to studying for the exams. It also involves significant study time outside of work hours in order to prepare for the exams.

In order to apply for the CPFO program, applicants must be members of GFOA or become members prior to submitting their application materials. Membership fees vary depending on type of membership but typically range from $50-$100 per year. The cost for taking each exam also varies depending on whether or not the applicant is a GFOA member but typically ranges from $150-$200 per exam plus any applicable taxes or fees.

4. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification program offered by the Association of Government Accountants (AGA). It is designed to recognize the expertise and knowledge of financial management professionals in the public sector.

The CGFM certification requires applicants to pass three examinations: Governmental Environment, Governmental Accounting and Financial Reporting, and Governmental Financial Management and Control. Each exam consists of multiple-choice questions and must be completed within two hours.

To become certified, applicants must have a minimum of two years of full-time professional experience in government financial management or related fields. They must also meet certain educational requirements, such as having a bachelor's degree from an accredited college or university, or having at least 24 semester hours of accounting courses from an accredited college or university.

The cost to take each exam is $250 for members of AGA and $300 for non-members. The total cost to become certified will vary depending on how many exams are taken and whether you are an AGA member or not.

It typically takes between six months to one year to complete all three exams and obtain the CGFM certification.

5. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional certification program offered by the Association for Financial Professionals (AFP). The CTP credential is designed to recognize professionals who have demonstrated a high level of expertise in treasury management, cash management, and financial risk management.

To become certified, applicants must meet certain eligibility requirements and pass a comprehensive exam. To be eligible, applicants must have at least three years of full-time professional experience in treasury or finance-related roles. Additionally, applicants must complete the AFP’s CTP Education Program prior to taking the exam.

The CTP exam consists of 150 multiple-choice questions that cover topics such as cash flow forecasting, foreign exchange risk management, debt issuance and financing strategies, and investment portfolio management. The exam takes approximately four hours to complete and can be taken at any Prometric testing center around the world.

The cost to take the CTP exam is $450 USD for members of AFP and $650 USD for non-members. Once an applicant has passed the exam, they will receive their official CTP certificate from AFP within 8 weeks after passing the exam.

6. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation awarded by the CFA Institute to individuals who have demonstrated expertise in investment analysis and portfolio management. The CFA Program is a globally recognized, graduate-level curriculum that covers a wide range of topics related to financial analysis and portfolio management. It consists of three levels of exams, which must be passed sequentially in order to earn the CFA charter.

It typically takes four years to complete all three levels of the CFA Program. The first two levels are offered twice a year, while the third level is offered once a year. Each level requires about 300 hours of study time for successful completion.

In order to get the CFA charter, candidates must pass all three exams within four years, become a member of the CFA Institute, have four years of qualifying work experience in an investment-related role, and commit to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct.

The cost for taking all three levels of the exam can vary depending on when you register and whether or not you are eligible for any discounts or scholarships. Generally speaking, it costs $1,000-$2,000 USD to take each level of the exam. Additionally, there are annual membership dues associated with joining the CFA Institute that range from $50-$350 USD per year depending on your country and profession.

7. Certified Internal Auditor (CIA)

The Certified Internal Auditor (CIA) is an internationally recognized certification for internal auditors. It is administered by the Institute of Internal Auditors (IIA), a global professional association dedicated to promoting and developing the practice of internal auditing. The CIA designation demonstrates an individual’s commitment to the profession, expertise in internal auditing, and proficiency in the standards and practices of the profession.

It typically takes between one and two years to complete all three parts of the CIA exam. To become certified, candidates must pass each part of the exam within a five-year period. Candidates must also meet certain educational requirements and have at least two years of professional experience in internal auditing or related areas.

To get certified, candidates must first register with IIA Global and pay a fee that varies depending on their country of residence. After registering, they can then purchase study materials from IIA Global or another provider and begin studying for the exam. Once they feel ready to take the exam, they can schedule it through IIA Global’s website or through a third-party testing center.

The cost to become certified as a CIA varies depending on where you live and what type of study materials you use. In general, however, it costs around $1,000-$2,000 USD to become certified as a CIA. This includes registration fees, study materials, and exam fees.

8. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation awarded by the Certified Financial Planner Board of Standards, Inc. (CFP Board). It is the highest standard of competence in the financial planning profession and signifies that an individual has met rigorous experience and ethical requirements, completed extensive financial planning coursework and passed a comprehensive examination.

It typically takes about two to three years to become a CFP. The process includes completing education requirements, passing an exam, gaining experience, and then applying for certification with the CFP Board.

In order to be eligible for the CFP certification program, you must meet certain educational requirements, including completing a bachelor’s degree from an accredited institution, completing at least six college-level courses in personal finance or related topics such as accounting or economics, and completing a CFP Board-approved financial planning education program. You must also pass the CFP Certification Examination administered by the CFP Board.

The cost of becoming a CFP varies depending on your location and other factors such as whether you are taking classes or studying independently. Generally speaking, it can cost anywhere between $2,000 to $5,000 to complete all of the necessary steps required to become certified. This includes fees associated with taking classes or studying independently; fees associated with taking and passing the exam; and any applicable application fees charged by the CFP Board.

9. 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 is designed to recognize professionals who demonstrate excellence in management accounting and financial management.

The CGMA designation requires a minimum of three years of experience in the field, including at least one year in a management accounting role. To obtain the CGMA designation, applicants must pass an exam administered by the AICPA and CIMA. The exam covers topics such as financial reporting and analysis, strategic planning, cost management, performance measurement, risk assessment, and taxation.

It typically takes between 12-18 months to complete all requirements for earning the CGMA designation. The process involves completing an online application form, passing the exam, and submitting proof of professional experience.

The cost for obtaining the CGMA designation varies depending on your country or region. Generally speaking, it costs between $400-$600 USD to take the exam and apply for certification.

10. Certified Fraud Examiner (CFE)

A Certified Fraud Examiner (CFE) is a professional designation granted by the Association of Certified Fraud Examiners (ACFE). The CFE credential is the premier anti-fraud certification and is recognized in over 165 countries. It signifies that an individual has met rigorous standards set forth by the ACFE, including education, experience, examination, and adherence to a strict code of ethics.

It typically takes approximately 6 months to become a CFE. This includes studying for and passing the 4-hour CFE exam, which consists of 200 multiple choice questions. In order to be eligible to take the exam, you must have at least 2 years of professional experience in fraud prevention or detection, or a bachelor’s degree with at least 15 semester hours in accounting or business-related courses.

The cost to become a CFE varies depending on your country of residence. Generally speaking, it costs around $750 USD for members of the ACFE and $900 USD for non-members. This fee covers the cost of registration and access to study materials such as textbooks, practice exams, webinars, and more.

11. Certified Risk Management Assurance (CRMA).

Certified Risk Management Assurance (CRMA) is a professional certification program offered by the American Academy of Financial Management (AAFM). It is designed to provide individuals with the knowledge and skills necessary to effectively identify, assess, and manage risk in financial markets. The CRMA designation is recognized as a mark of excellence for those who have demonstrated their commitment to risk management best practices.

The CRMA certification program consists of three levels: Foundation, Professional, and Master. To obtain the CRMA designation, candidates must complete all three levels of the program. Each level requires passing an exam and completing a set number of hours of continuing education credits.

The Foundation Level is designed to provide a basic understanding of risk management principles and techniques. This level typically takes about one month to complete and requires passing an exam that covers topics such as financial markets, financial instruments, derivatives, portfolio management, investment analysis, and regulatory compliance.

The Professional Level focuses on more advanced topics such as enterprise risk management frameworks and quantitative methods for assessing risk. This level typically takes two months to complete and requires passing an exam that covers topics such as capital allocation models, stress testing techniques, scenario analysis tools, operational risk assessment models, credit rating systems, liquidity management strategies, and counterparty credit risk models.

The Master Level is designed to equip candidates with the skills needed to develop comprehensive enterprise-wide risk management programs. This level typically takes three months to complete and requires passing an exam that covers topics such as corporate governance structures for managing risks in complex organizations; developing effective internal controls; developing policies for managing market risks; implementing strategies for managing credit risks; evaluating alternative investments; managing legal risks; and understanding the regulatory environment for financial services firms.

To obtain the CRMA certification it will cost approximately $2,000 USD depending on which course package you choose from AAFM's website (https://aafmcertificationusa.com/). Additionally there are fees associated with each individual examination ($250 USD per exam). The total cost can vary depending on how many courses you take or if you opt for additional study materials or coaching services from AAFM’s website.

Overall it can take anywhere from 6-9 months to obtain the CRMA designation depending on how quickly you can pass all three exams required by AAFM’s curriculum requirements.

Do You Really Need a Finance and Administration Manager Certificate?

Whether or not you need a finance and administration manager certificate depends on your individual career goals. If you are in the field of finance and administration management, having a certificate can demonstrate to employers that you have taken the time to gain additional knowledge and skills in this area. It can also provide evidence that you are dedicated to furthering your career in this field.

On the other hand, if you do not plan to pursue a career in finance and administration management, then it is likely not necessary for you to obtain a certificate. However, if you want to gain more knowledge about financial principles, processes, and practices, taking courses related to this field could be beneficial regardless of your current career path. In addition, having an understanding of these topics may help you become more successful in whatever profession you decide to pursue.

Related: Finance and Administration Manager Resume Examples

FAQs About Finance and Administration Manager Certifications

1. What is a Finance and Administration Manager Certification?

Answer: A Finance and Administration Manager Certification is a professional credential that demonstrates expertise in the areas of finance, accounting, budgeting, administration and management. It is typically earned by completing an accredited program or coursework in these areas.

2. How long does it take to earn a Finance and Administration Manager Certification?

Answer: The time it takes to complete the certification requirements will vary depending on the individual's experience level and the specific program or coursework chosen. Generally, most programs take between six months and two years to complete.

3. What are the benefits of having a Finance and Administration Manager Certification?

Answer: Having a Finance and Administration Manager Certification can help individuals stand out from other job candidates as they demonstrate their knowledge of financial management principles, best practices, and industry standards. Additionally, certification can lead to career advancement opportunities within an organization or higher salaries when seeking employment elsewhere.

4. Are there any prerequisites for earning a Finance and Administration Manager Certification?

Answer: Most programs require applicants to have at least five years of experience working in finance or related fields before they are eligible to pursue certification. Additionally, some programs may require applicants to hold certain qualifications such as a bachelor’s degree in finance or accounting or other related field to be accepted into the program.

5. Is there an exam associated with obtaining a Finance and Administration Manager Certification?

Answer: Yes, most programs require applicants to pass an exam before they can receive their certification credentials. The exams typically cover topics such as financial analysis, budgeting principles, organizational leadership skills and other topics related to finance management