Top 10 Finance Controller Certifications

Certifications for a finance controller are important in the job market because they demonstrate to potential employers that the individual possesses the knowledge and skills necessary to do the job successfully. They also show that the individual has taken the initiative to gain additional training, which indicates a commitment to professional development. Certifications provide employers with assurance that their new hire is qualified and competent, which can give them an edge over other applicants who may not have any certifications. Additionally, certifications can help individuals stand out from their peers, making them more attractive candidates for positions.

The purpose of this article is to review the most beneficial certifications for Finance Controllers and demonstrate how they can help advance a Controller's career.

What are Finance Controller Certifications?

Finance Controller Certification is a professional certification program designed to provide finance professionals with the knowledge and skills necessary to become successful financial controllers. The certification, offered by the Institute of Certified Financial Controllers (ICFC), provides an in-depth understanding of accounting principles, financial analysis, budgeting and forecasting techniques, business law and taxation, and other topics related to financial management.

The certification program can help finance professionals gain recognition for their expertise in financial control and management. It also serves as a valuable credential for those seeking advancement into higher positions in their organizations. By becoming certified as a finance controller, individuals demonstrate their commitment to the profession, as well as their proficiency in managing financial resources.

In addition to providing practical training that can be applied directly to the workplace, Finance Controller Certification gives finance professionals access to a network of peers and mentors who can help them stay abreast of changes in the industry and hone their skills even further. This network also provides opportunities for collaboration on projects or initiatives that could lead to greater career growth. Finally, having this certification on one's resume can be beneficial when applying for jobs or promotions within an organization or when seeking employment elsewhere.

Pro Tip: Get a CPA certification to demonstrate your knowledge and experience as a finance controller. This will help you stand out in the job market and give you an edge over other applicants. Additionally, it will provide you with additional credibility when working with clients, vendors, and other stakeholders.

Related: What does a Finance Controller do?

Top 10 Finance Controller Certifications

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

1. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification program offered by the Association of Government Accountants (AGA). This certification program is designed to recognize and promote excellence in government financial management. It is based on three core competencies: accounting, auditing, and financial management.

The CGFM program consists of three exams: Governmental Environment, Governmental Accounting, Auditing and Financial Reporting, and Governmental Financial Management. Each exam must be passed before the candidate can receive their CGFM designation.

It typically takes between six months to one year to complete all three exams. Candidates should plan to spend at least 40 hours studying for each exam, but some may take longer depending on their experience level and study habits.

To get the CGFM designation, candidates must first meet the eligibility requirements set by AGA. These include having an undergraduate degree from an accredited college or university and two years of professional-level experience in government financial management or related fields.

The cost of the CGFM program varies depending on how many exams are taken at once and which payment plan is chosen. The total cost for all three exams ranges from $1,200 to $1,800 USD.

2. Certified Public Accountant (CPA)

Certified Public Accountant (CPA) is a professional designation given to individuals who have passed the Uniform CPA Examination and met additional state education and experience requirements for certification as a CPA. CPAs are licensed by their respective state boards of accountancy, which are responsible for protecting the public interest by ensuring that only qualified individuals become certified public accountants.

It typically takes between one to two years of full-time study to pass the Uniform CPA Exam, depending on an individual’s background in accounting. In order to be eligible to take the exam, candidates must meet certain academic requirements, such as having 150 semester hours of college credit in accounting and related subjects. Candidates must also complete an ethics course approved by their state board of accountancy.

In order to get certified as a CPA, candidates must first apply with their respective state board of accountancy and pay an application fee. Once accepted, they must then take and pass the Uniform CPA Exam. Depending on the state board, there may be additional fees associated with taking the exam or renewing a license.

The cost for becoming a Certified Public Accountant varies from state to state, but generally includes application fees, exam fees, continuing education fees, and renewal fees. Application fees range from $50-$200; exam fees range from $100-$200; continuing education fees can range from $50-$200; and renewal fees can range from $50-$300 per year.

3. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation that recognizes the expertise of management accountants. It is awarded by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). The CGMA designation demonstrates to employers, colleagues, and clients that an individual has a deep understanding of finance, strategy, and business performance.

To obtain the CGMA designation, individuals must first pass the CIMA Professional Qualification exams. This qualification typically takes two to four years to complete depending on individual circumstances. After passing the CIMA exams, individuals must then pass the AICPA’s Uniform CPA Exam before they can be awarded their CGMA designation.

The cost for obtaining the CGMA designation varies depending on which country or region you are in. Generally speaking, it costs around $1,000-2,000 USD for all exam fees and registration fees associated with obtaining your CGMA designation.

4. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by The Institute of Internal Auditors (IIA). It is the only globally accepted certification for internal auditors and demonstrates an individual’s knowledge, skills, and competencies in the field of internal auditing. The CIA credential is highly sought after by employers looking to hire qualified professionals in the field of internal audit.

The CIA certification process involves passing three exams: Essentials of Internal Auditing (Part 1), Practice of Internal Auditing (Part 2), and Business Knowledge for Internal Auditing (Part 3). Each exam consists of multiple-choice questions and must be completed within a specified time frame. Candidates must also complete at least two years of professional experience in internal auditing before they can apply for the CIA designation.

In order to get the CIA designation, candidates must first register with IIA and pay the applicable fees. Once registered, candidates can begin studying for their exams using study materials provided by IIA or from other sources such as books and online courses. After passing all three exams, candidates will need to submit an application form along with proof of their work experience in order to be awarded their certification.

The cost to obtain the CIA designation varies depending on which country you are located in and whether you are a member or non-member of IIA. Generally speaking, it costs around USD $1,500-$2,000 to become certified as a CIA. This includes registration fees, exam fees, study materials, and other related costs.

It typically takes between 6 months - 1 year to complete all three parts of the exam process and receive your certification as a Certified Internal Auditor (CIA).

5. 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 demonstrate expertise in financial planning, analysis, control, decision support, and professional ethics. CMA certification demonstrates that an individual has the knowledge and skills necessary to effectively manage financial resources in today's complex business environment.

To become certified as a CMA, an individual must complete a rigorous two-part exam administered by IMA. The first part covers topics such as financial reporting, cost management, budgeting and forecasting, performance measurement and analysis, and strategic planning and decision making. The second part focuses on topics such as corporate finance, investment decisions and risk management. Candidates must also meet certain educational requirements before taking the exam.

The exam takes approximately three hours for each part and can be taken at any of IMA’s testing centers located around the world. Candidates are given four hours to complete both parts of the exam.

The cost of becoming a CMA varies depending on where you take the exam and whether or not you are already an IMA member. For non-members taking the exam outside of North America, it costs $415 per part or $830 total. For members taking the exam outside of North America it costs $385 per part or $770 total. For non-members taking the exam within North America it costs $395 per part or $790 total while for members taking the exam within North America it costs $365 per part or $730 total.

6. Certified Fraud Examiner (CFE)

A Certified Fraud Examiner (CFE) is a professional who has been trained and certified in the detection, investigation, and prevention of fraud. CFEs are experts in analyzing financial records to identify potential fraud or suspicious activity. They use their knowledge of accounting principles, investigative techniques, and legal requirements to conduct thorough investigations into allegations of fraud.

It typically takes between one and two years to become a CFE. The process involves completing an approved training program, passing a comprehensive four-hour exam, and meeting experience requirements.

To become a CFE, you must first join the Association of Certified Fraud Examiners (ACFE). This membership provides access to resources such as training materials, networking opportunities, and discounts on ACFE products. After joining the ACFE, you can register for the CFE Exam Preparation Course which is offered online or in person. This course will provide you with the necessary skills and knowledge to pass the CFE Exam.

The cost for becoming a CFE varies depending on your country of residence and whether or not you are an ACFE member. In general, it costs around $500-$600 USD for non-members to take the exam preparation course and $400-$500 USD for members. Additionally, there is an exam fee of approximately $400 USD that must be paid when registering for the exam.

7. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional certification awarded by the Certified Financial Planner Board of Standards, Inc. (CFP Board). It is a mark of excellence that recognizes financial planners who have met rigorous professional standards and have committed to ongoing education, examination, experience and ethics requirements.

It typically takes three to four years to become a CFP. To be eligible for the CFP certification program, an individual must have:

• A bachelor's degree from an accredited college or university;
• Completed at least three years of full-time financial planning-related work experience;
• Passed the CFP Certification Examination; and
• Agreed to abide by the CFP Board’s Code of Ethics and Professional Responsibility and Financial Planning Practice Standards.

The cost for becoming a CFP varies depending on where you live and which school you attend. Generally, it can range from $2,000 to $10,000 or more. This includes tuition fees, exam fees, study materials, application fees and other costs associated with obtaining the designation.

8. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation awarded by the CFA Institute to finance and investment professionals. The CFA designation is recognized globally as a benchmark of excellence in the field of finance and investment management. The program requires an extensive amount of study, experience, and testing to attain.

The CFA program consists of three levels: Level I, Level II, and Level III. Each level is divided into two parts: a six-hour exam and a four-hour essay exam. To become a CFA charterholder, you must pass all three levels within four years.

To get started on the CFA program, you must first register with the CFA Institute. Registration fees vary depending on when you register for the exams; early registration fees are typically lower than late registration fees. After registering for the exams, you will need to purchase study materials and begin studying for the exams.

The cost of becoming a CFA charterholder can vary depending on how much time it takes to complete the program and which study materials you purchase. Generally speaking, it can cost anywhere from $2,000 to $5,000 to become a CFA charterholder. This includes registration fees for all three levels of exams as well as study materials such as textbooks and practice tests.

9. Certified Financial Services Auditor (CFSA)

Certified Financial Services Auditor (CFSA) is a professional certification awarded by the Institute of Internal Auditors (IIA). The CFSA designation is designed to recognize individuals who have demonstrated a high level of knowledge and expertise in the areas of financial services auditing, risk management, and internal control.

To become a Certified Financial Services Auditor, you must meet certain eligibility requirements. These include having at least three years of experience in financial services auditing or related fields, passing the CFSA exam, and completing continuing professional education requirements. The exam consists of 150 multiple-choice questions covering topics such as financial statement analysis, internal control systems, fraud prevention, and regulatory compliance. It takes approximately four hours to complete the exam.

The cost of becoming a Certified Financial Services Auditor varies depending on where you take the exam. In most cases, it will cost between $400-$600 for the application fee and exam fee combined. Additionally, there may be additional costs associated with taking continuing professional education courses to maintain your certification.

Overall, becoming a Certified Financial Services Auditor can be an excellent way to demonstrate your expertise in the field and advance your career opportunities in financial services auditing or related fields.

10. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional certification program offered by the Association for Financial Professionals (AFP). It is designed to recognize and validate the knowledge, skills, and experience of treasury professionals. The CTP credential is widely recognized as a standard of excellence in the field of treasury management.

It typically takes about 6 months to complete the CTP certification process. To become certified, you must first meet the eligibility requirements, which include having at least three years of full-time professional experience in treasury or finance-related activities. You must also pass an online exam that covers topics such as cash management, risk management, financial analysis, investments, and corporate finance.

The cost to obtain the CTP certification varies depending on your membership status with AFP. If you are an AFP member, it will cost $795; if you are not a member it will cost $995. The fee includes access to study materials, registration for the exam, and one retake if necessary.

Do You Really Need a Finance Controller Certificate?

The simple answer is no, you don’t need a finance controller certificate to become a successful finance controller. However, having one can certainly help you stand out in the job market and make you more attractive to employers.

A finance controller certificate demonstrates your commitment to the profession and indicates that you have acquired knowledge and skills that are necessary for success in the field. The certificate also shows potential employers that you have invested time and money into learning about financial management principles and practices. This can be especially beneficial if you are looking to break into the industry or advance your career by transitioning into a more senior role.

In addition, certifications are often required by employers as part of their hiring process. Having one will give you an edge over other applicants who may not have taken the time or effort to obtain it. It may even open up opportunities for higher salaries and promotions within the company.

In conclusion, while having a finance controller certificate is not essential for success in this profession, it can certainly give you an advantage over other candidates when applying for jobs or seeking advancement within your current role.

Related: Finance Controller Resume Examples

FAQs About Finance Controller Certifications

1. What is a Finance Controller Certification?

Answer: A Finance Controller Certification is a professional certification that recognizes individuals who have achieved a level of competency in finance and accounting. It is typically awarded by an accredited institution and requires passing an exam to demonstrate knowledge of financial management principles, practices, and regulations.

2. What are the benefits of obtaining a Finance Controller Certification?

Answer: Obtaining a Finance Controller Certification can help individuals stand out from their peers when applying for jobs or promotions, as it shows they have taken the time to gain specialized knowledge in their field. Additionally, having this certification may qualify individuals for higher salaries and more advanced roles within their organization.

3. How long does it take to obtain a Finance Controller Certification?

Answer: The amount of time required to obtain a Finance Controller Certification depends on the specific program chosen and the individual's prior experience with finance and accounting topics. Generally, most programs require at least one year of study and successful completion of an exam in order to receive certification.

4. What are the prerequisites for obtaining a Finance Controller Certification?

Answer: The prerequisites for obtaining a Finance Controller Certification vary depending on the program chosen; however, most require applicants to have some previous experience with finance or accounting topics, including basic bookkeeping skills, familiarity with financial statements, understanding of budgeting principles, and knowledge of business law.

5. Are there any online courses available for obtaining a Finance Controller Certification?

Answer: Yes! There are many online courses available that can assist individuals in preparing for their certification exams. These courses provide comprehensive instruction in all areas covered by the exams and often include study guides, practice tests, and other helpful resources to ensure success on the test day.