Top 11 Finance Manager Certifications

Certifications are important for a finance manager in the job market because they demonstrate a high level of expertise and knowledge in the field. They can also provide potential employers with evidence that the candidate is dedicated to their career and has kept up-to-date on industry trends and developments. Furthermore, certifications often provide access to exclusive resources and networking opportunities, which can be invaluable when applying for jobs. Employers often look for certified professionals when searching for finance managers, so having a certification can help to make your resume stand out from the competition.

The article reviews some of the top certifications for Finance Managers and explains how they can help to enhance a finance manager's career.

What are Finance Manager Certifications?

Finance Manager Certification is a professional certification that demonstrates proficiency in the areas of financial management and analysis. It is designed to provide an objective measure of a finance manager’s knowledge and skills, helping to ensure that they are qualified to handle the tasks of their job. This certification can be beneficial for both employers and employees, as it helps employers ensure they are hiring knowledgeable and experienced professionals, while also providing employees with a way to demonstrate their qualifications to potential employers.

The certification process involves passing an exam which covers topics such as financial statements, budgeting, forecasting, investment analysis, risk management, accounting principles, and other related topics. Upon successful completion of the exam, individuals receive official recognition from the certifying body and can use it as proof of their qualifications when applying for jobs or promotions. Furthermore, having a Finance Manager Certification may give one an edge over other applicants who do not have this credential.

In summary, Finance Manager Certification provides a valuable credential for those looking to advance their career in finance management or analysis. It is beneficial for both employers and employees alike by helping to ensure that only qualified individuals are hired for these positions and by providing employees with a way to demonstrate their knowledge and skills in this field.

Pro Tip: If you are looking to become a finance manager, consider getting certified in financial management. Certification can give you an edge when competing for jobs and demonstrate your expertise in managing finances for businesses. There are many certifications available, such as the Certified Financial Manager (CFM) from the Institute of Financial Management, that can help to increase your credibility and marketability.

Related: What does a Finance Manager do?

Top 11 Finance Manager Certifications

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

1. Chartered Financial Analyst (CFA)

The Chartered Financial Analyst (CFA) designation is a globally recognized professional certification for finance and investment professionals. It is offered by the CFA Institute, a global association of investment professionals that sets the standard for professional excellence in the investment industry. The CFA program covers a broad range of topics related to financial analysis, portfolio management, and ethical and professional standards.

It typically takes four years to complete the CFA program. Candidates must pass three levels of exams to earn the CFA designation. Each exam consists of multiple-choice questions and essay questions covering a wide range of topics including economics, accounting, portfolio management, corporate finance, equity investments, fixed income investments, derivatives, alternative investments, and portfolio construction.

To become a CFA charterholder candidates must:

1) Pass all three levels of exams;

2) Have at least four years of qualified work experience in an investment decision-making role;

3) Become a member of the CFA Institute; and

4) Abide by the CFA Institute Code of Ethics and Standards of Professional Conduct.

The cost to take each level varies depending on when you register for it but generally ranges from $700-$1,500 USD per exam level. Additionally there are annual membership fees associated with becoming a member of the CFA Institute which vary depending on your location but generally range from $150-$400 USD per year.

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 and must adhere to ethical standards set forth by the American Institute of Certified Public Accountants (AICPA).

In order to become a CPA, an individual must typically meet the following requirements:

1. Complete 150 semester hours of college education, which includes a bachelor’s degree with at least 30 semester hours in accounting-related courses.

2. Pass the Uniform CPA Exam administered by the AICPA.

3. Meet any additional educational or experience requirements set forth by their respective state board of accountancy.

4. Obtain licensure from their respective state board of accountancy after meeting all requirements.

The amount of time it takes to become a CPA varies depending on each individual's educational background and experience level, but typically it takes between one and three years to complete all the necessary steps for licensure.

The cost associated with becoming a CPA can vary depending on where you live, but generally speaking it will include costs related to college tuition, study materials, exam fees, licensing fees, continuing education courses, and other miscellaneous expenses such as membership dues or subscription services related to staying up-to-date on industry news and regulations.

3. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification in the field of management accounting. It is administered by the Institute of Management Accountants (IMA). The CMA provides evidence of expertise and knowledge in financial planning, analysis, control, decision support, and professional ethics.

To become a CMA, candidates must have a bachelor’s degree from an accredited college or university and two years of professional experience in management accounting or financial management. Candidates must also pass two exams: the Financial Reporting, Planning, Performance & Control exam and the Strategic Financial Management exam.

The entire process typically takes between 12 to 18 months to complete. To get started, candidates must first register with IMA and pay the associated fees. The registration fee for US residents is $250 for members and $350 for non-members. After registering, candidates can purchase study materials from IMA or other vendors to prepare for the exams.

Once registered and prepared for the exams, candidates can schedule their exams through Prometric testing centers located throughout the United States. Each exam costs $415 for members and $555 for non-members. After passing both exams, candidates must submit an application demonstrating their work experience and pay an additional fee of $100 for members and $150 for non-members to receive their certification.

4. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional certification offered by the Association for Financial Professionals (AFP). It is designed to recognize professionals who have demonstrated expertise in treasury management and financial risk management. The CTP certification requires candidates to have a minimum of two years of experience in the field, and must pass an exam that covers topics such as cash management, investment strategies, corporate finance, international finance, financial analysis and risk management.

The exam consists of 150 multiple-choice questions that must be completed within three hours. Candidates must obtain a score of at least 70% to pass the exam. The exam fee is $500 for AFP members and $700 for non-members.

In order to maintain the CTP credential, individuals must complete 40 continuing education credits every two years. These credits can be obtained through attending conferences and seminars, reading professional publications or taking online courses related to treasury management.

5. Chartered Financial Consultant (ChFC)

Chartered Financial Consultant (ChFC) is a professional designation offered by The American College of Financial Services. It is an advanced certification in financial planning and wealth management that requires a thorough understanding of the financial planning process, investment strategies, insurance planning, income tax planning, retirement planning and estate planning.

To obtain the ChFC designation, individuals must complete nine college-level courses and pass two comprehensive examinations. The courses cover topics such as investments, risk management, income taxation, retirement planning and estate planning. The exams are administered by the American College of Financial Services.

The entire program typically takes three to four years to complete depending on the individual’s pace. To maintain the designation, individuals must complete 30 hours of continuing education credits every two years.

The cost of obtaining the ChFC designation varies depending on the institution offering it. Generally speaking, tuition for the program ranges from $3,000 to $6,000 plus exam fees and other related costs such as textbooks and materials.

6. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation given by the Certified Financial Planner Board of Standards Inc. It is a certification that demonstrates an individual's expertise in financial planning and knowledge of financial topics such as investments, taxes, retirement planning, estate planning, and insurance.

In order to become a CFP, individuals must complete the CFP Board’s education requirements, pass the CFP Certification Examination, and meet the CFP Board’s experience requirements.

The education requirements include completing a college-level coursework covering topics such as financial planning, investments, risk management, tax planning, retirement planning, estate planning and insurance. The coursework must be completed at an accredited university or college program registered with the CFP Board.

The CFP Certification Examination is administered by Prometric Testing Centers throughout the United States. The exam consists of two parts: a multiple choice section and an essay section. The multiple choice section covers topics such as investments, taxes, retirement planning and estate planning while the essay section focuses on case studies related to financial planning topics.

To meet the experience requirement for becoming a CFP, individuals must have at least three years of full-time financial planning experience or 6,000 hours of part-time experience within five years prior to applying for certification.

The cost for becoming a CFP varies depending on which educational program you choose to pursue but typically ranges from $2,500-$4,000 for tuition alone. Additionally there are fees associated with taking the exam ($695) and registering with the CFP Board ($325).

7. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification awarded by the Institute of Internal Auditors (IIA). It is the most widely recognized credential for internal auditors and signifies expertise in the practice of internal auditing. The CIA designation demonstrates an individual’s commitment to the profession and their ability to provide assurance services related to risk management, control, and governance processes.

The CIA certification process involves passing three exams administered by the IIA. These exams are designed to test a candidate's knowledge of internal auditing standards, practices, and procedures. Each exam consists of multiple-choice questions and must be passed with a score of at least 70%. The exams cover topics such as internal audit activities, risk assessment, control systems, information technology, financial analysis, legal issues, operations management, fraud detection and prevention, business ethics, and strategic planning.

The cost to take each exam is $415 USD for members of the IIA or $495 USD for non-members. Candidates must also pay an initial application fee of $50 USD upon submitting their application for certification.

The entire process can take anywhere from 6 months to 2 years depending on how quickly you complete each exam. Candidates are encouraged to study diligently in order to pass each exam within a reasonable amount of time.

8. Financial Risk Manager (FRM)

Financial Risk Manager (FRM) is a globally recognized professional certification for financial risk managers. It is offered by the Global Association of Risk Professionals (GARP). The FRM designation is designed to demonstrate an individual’s comprehensive understanding of risk management practices and techniques, as well as their ability to apply them in real-world situations.

The FRM program consists of two exams: Exam I and Exam II. Each exam covers different topics related to financial risk management. Candidates must pass both exams in order to be awarded the FRM designation.

The FRM program typically takes 12-18 months to complete, depending on how quickly you can study and prepare for each exam. To get started, you must first register with GARP and pay the registration fee ($450 USD). After registering, you will have access to the online learning materials needed to prepare for the exams. You will also need to purchase study guides or enroll in a preparatory course in order to ensure that you are adequately prepared for the exams.

In addition to the registration fee, there are additional costs associated with obtaining the FRM designation. The cost of purchasing study guides or enrolling in a preparatory course varies greatly depending on which provider you choose. Additionally, each exam costs $650 USD per attempt, so it is important to budget accordingly when planning your studies for the FRM program.

9. Chartered Investment Manager (CIM)

Chartered Investment Manager (CIM) is a designation awarded by the Canadian Securities Institute (CSI). It is a professional designation for those who have demonstrated their knowledge and experience in the field of investment management.

The CIM program consists of five courses which are designed to provide a comprehensive overview of the industry, including topics such as portfolio theory, asset allocation, risk management, and financial planning. The program also includes an examination that must be passed in order to receive the designation.

In order to become a Chartered Investment Manager, an individual must first complete all five courses and pass the exam. This usually takes between six months and one year depending on how quickly you can study and complete the coursework. Once you have completed all five courses and passed the exam, you will receive your CIM designation from CSI.

The cost of obtaining your CIM designation varies depending on which courses you choose to take and where you take them. Generally speaking, it will cost around $2,000 - $3,000 CAD for tuition fees alone. There may also be additional costs associated with textbooks or other materials needed for the program.

10. Chartered Wealth Manager (CWM)

Chartered Wealth Manager (CWM) is a professional designation that recognizes individuals who have demonstrated a high level of competency in the field of wealth management. It is an internationally recognized qualification that requires a comprehensive understanding of financial planning, investments, estate planning, taxation and risk management.

The CWM designation requires passing a series of examinations administered by the American College of Financial Services. The exams cover topics such as financial planning, investment analysis and portfolio management, retirement planning, estate planning and taxation. To qualify for the CWM designation, candidates must have at least three years of experience in the financial services industry and demonstrate expertise in areas related to wealth management.

It typically takes between two and four years to complete the requirements for the CWM designation. Candidates must pass all required exams within this time frame in order to receive their certification.

To get the CWM designation, you will need to register with the American College of Financial Services and pay an application fee. After registering, you will be given access to study materials and practice exams which you can use to prepare for your exams. Once you have completed all required exams within the designated time frame, you will receive your certification from the American College of Financial Services.

The cost for obtaining the CWM designation varies depending on where you are taking your courses or exams from but generally ranges from $1,000-$3,000 USD.

11. Certified International Investment Analyst (CIIA).

Certified International Investment Analyst (CIIA) is a professional designation given to individuals who have demonstrated excellence in the field of international investment analysis. CIIA holders are qualified to provide advice on international investments, such as foreign stocks, bonds, mutual funds, and derivatives.

The CIIA program is offered by the Association for Investment Management and Research (AIMR), an international organization that promotes education and research in the investment management profession. The program consists of three levels: Level I, Level II, and Level III. Each level requires passing a series of exams that cover topics such as economics, financial accounting, portfolio management, derivatives and risk management.

The entire program takes approximately two years to complete depending on the individual's study schedule. To get certified at each level, candidates must pass all three exams within a five-year period. Candidates can take each exam up to four times before they must retake the entire program from the beginning.

The cost of the CIIA program varies depending on whether you choose to take online or classroom courses and which exams you are taking. Generally speaking, it costs around $1,000 per exam plus additional fees for study materials and registration fees.

Do You Really Need a Finance Manager Certificate?

The answer to this question depends on the individual's specific career goals and educational background. For those who are looking to enter the world of finance, a finance manager certificate may be beneficial. This type of certification can provide the necessary skills and knowledge to become successful in the field of finance.

A finance manager certificate can provide an individual with a comprehensive understanding of financial principles and practices, including budgeting, forecasting, risk management, accounting, and financial reporting. It also provides an understanding of how to analyze financial statements and develop strategies for improving a company's performance. In addition, it can teach individuals how to develop and maintain relationships with banks, investors, creditors, and other financial institutions.

The benefits of earning a finance manager certificate vary from person to person. Some may find that the certification is necessary for entry-level positions in the field while others may find it helpful in advancing their career or obtaining higher-level positions within their organization. Ultimately, it is up to each individual to decide if they need a finance manager certificate in order to pursue their desired career goals.

Related: Finance Manager Resume Examples

FAQs About Finance Manager Certifications

1. What is a Finance Manager Certification?

Answer: A finance manager certification is a professional credential that demonstrates a person's knowledge and skills in the field of finance. It is typically obtained through an accredited institution, such as a college or university, and may be required for certain positions within the financial industry.

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

Answer: Obtaining a finance manager certification can open doors to more career opportunities, provide recognition from employers, demonstrate an individual's commitment to their profession, and increase earning potential over time. Additionally, it provides individuals with increased knowledge and understanding of financial concepts and principles that can be applied to their daily work.

3. How long does it take to get certified as a Finance Manager?

Answer: The amount of time it takes to obtain a finance manager certification will depend on the applicant’s educational background, experience level, and specific certification program chosen. Generally speaking, most programs take between six months and two years to complete depending on the type of program chosen and whether or not an individual has prior experience or education related to finance management.

4. What topics are covered in Finance Manager Certifications?

Answer: Topics covered in finance manager certifications vary depending on the type of program chosen but typically include financial statement analysis, portfolio management strategies, risk assessment techniques, investment planning principles and practices, capital budgeting methods, taxation regulations and compliance requirements, international accounting standards and procedures, legal aspects of business operations, cost accounting principles and practices, managerial accounting concepts and techniques.

5. How much does it cost to get certified as a Finance Manager?

Answer: Costs associated with obtaining a finance manager certification vary depending on the type of program chosen but can range anywhere from several hundred dollars up to several thousand dollars for more advanced programs or courses that require additional coursework or exams for completion.