Top 11 Financial Coordinator Certifications

Certifications are an important factor for a financial coordinator in the job market because they demonstrate an individual’s knowledge and expertise in the field. By obtaining a certification, a financial coordinator can demonstrate that they have the necessary skills and qualifications to effectively manage financial operations. Furthermore, certifications allow employers to easily identify individuals who have a comprehensive understanding of the job responsibilities and can provide quality work. Additionally, certifications offer validation of competency and credibility, which helps employers feel more confident when hiring a financial coordinator.

This article reviews some of the top certifications for Financial Coordinators and explains how they can help to advance a financial coordinator's career.

What are Financial Coordinator Certifications?

Financial Coordinator Certification is a certification program designed to equip financial coordinators with the knowledge and skills necessary to effectively manage financial operations in organizations. This certification provides professional recognition for financial coordinators who have demonstrated an understanding of the principles and practices of successful financial management. Through this certification, individuals demonstrate their ability to analyze and interpret financial data, formulate sound business decisions, and execute appropriate strategies for achieving organizational objectives.

Having a Financial Coordinator Certification can be beneficial in a number of ways. For example, certified financial coordinators are better equipped to manage budgeting, cash flow, and other aspects of organizational finances. Furthermore, having a Financial Coordinator Certification can open up career opportunities that may not have been available previously due to lack of experience or knowledge. Additionally, the certification can help employers identify qualified candidates who are capable of managing their organization’s finances responsibly and efficiently. Finally, having the certification shows potential employers that you take your job seriously and that you understand the importance of responsible financial management.

Pro Tip: Before applying for a financial coordinator certification, take the time to research and understand the requirements of the certification. Knowing what is required to obtain the certification can help you prepare in advance and increase your chances of success.

Related: What does a Financial Coordinator do?

Top 11 Financial Coordinator Certifications

Here’s our list of the best certifications available to Financial Coordinators today.

1. Certified Financial Coordinator (CFC)

Certified Financial Coordinator (CFC) is an advanced certification program offered by the Institute of Certified Financial Coordinators (ICFC). The CFC is designed to equip financial professionals with the knowledge and skills necessary to provide comprehensive financial planning services. It requires a minimum of three years of experience in the financial services industry and successful completion of several courses.

The CFC program consists of four levels, each requiring a certain number of course credits. Level 1 focuses on basic financial concepts such as budgeting, debt management, and retirement planning. Level 2 covers more complex topics such as investments, insurance, estate planning, and taxation. Level 3 covers advanced topics such as risk management strategies and portfolio optimization. Finally, Level 4 covers specialized areas such as business succession planning and philanthropic giving.

It typically takes two to three years to complete the CFC program depending on the individual’s level of experience and commitment to completing the required coursework. To become certified, individuals must pass an exam administered by ICFC that tests their knowledge in all four levels of the program.

The cost for taking the CFC exam varies depending on where you take it but typically ranges from $500-$1,000 USD. Additionally, there may be additional fees associated with taking courses or participating in study groups or workshops related to the CFC program.

2. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation for financial advisors who have met certain educational, experience, and ethical requirements. The CFP certification is recognized as the highest standard of excellence in personal financial planning.

It typically takes between two to five years to become a CFP depending on the individual’s prior experience. To be eligible for the CFP certification program, individuals must meet certain prerequisites including having a bachelor’s degree from an accredited college or university and completing at least three years of full-time financial planning related work experience.

To get the CFP certification, individuals must pass a comprehensive exam that covers topics such as investments, taxes, retirement planning, estate planning, insurance and risk management. After passing the exam, individuals must also complete an ethics course and agree to abide by the CFP Board’s Code of Ethics and Professional Responsibility.

The cost of becoming a CFP varies depending on which educational program you choose. Generally speaking, it can cost anywhere from $2,000 to $5,000 or more for tuition and related expenses such as books and study materials.

3. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation awarded by the CFA Institute to financial professionals who have met the educational, experience, and ethical requirements of the organization. The CFA credential is considered one of the most prestigious and respected credentials in the finance industry.

The CFA Program is a three-level program that requires applicants to pass an exam at each level. Level I consists of 240 multiple choice questions covering topics such as economics, ethics, financial reporting and analysis, portfolio management, and quantitative methods. Level II consists of 120 multiple choice questions and 10 essay questions covering topics such as corporate finance, derivatives, equity investments, fixed income investments, portfolio management techniques, and alternative investments. Level III consists of 10 essay questions covering topics such as asset allocation strategies, portfolio management techniques, performance measurement and attribution analysis.

In order to become a CFA charterholder, candidates must meet certain educational requirements (a bachelor’s degree or equivalent), pass all three levels of the CFA Program exams within four years from beginning their studies for Level I exam or within seven years from beginning their studies for Level III exam , have four years of qualified work experience in an investment-related role (or two years if they have a graduate degree in a related field), adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct , become a member of the CFA Institute , and pay an annual membership fee .

The cost for taking all three levels of the CFA Program exams can range from $1,000 - $2,500 depending on when you register for each level. The annual membership fee is currently $300 USD per year.

4. Certified Investment Management Analyst (CIMA)

Certified Investment Management Analyst (CIMA) is a professional designation offered by the Investment Management Consultants Association (IMCA). It is designed to give advisors the knowledge and skills necessary to provide comprehensive investment advice. The CIMA program focuses on portfolio construction, asset allocation, risk management, performance measurement, investment policy statements, and other topics related to investment consulting.

The CIMA certification requires completion of a two-part exam that covers both theoretical and practical aspects of investment management. The first part consists of an online exam that tests knowledge in the areas of finance, economics, investments, accounting, and quantitative methods. The second part is a case study exam that tests the candidate’s ability to analyze and solve real-world problems.

In order to become certified as a CIMA, candidates must have at least three years of relevant work experience in the financial services industry. Candidates must also complete an approved course or program related to investments or financial planning prior to taking the exam.

The cost for taking the CIMA exam varies depending on where you take it. In general, it costs around $2,000-$3,000 for both parts of the exam. Additionally, there are fees associated with registering for and taking the exams as well as any applicable taxes or fees associated with taking them in certain locations.

5. Certified Public Accountant (CPA)

Certified Public Accountant (CPA) is a professional designation given to individuals who have met the education, examination, and experience requirements set by their state board of accountancy. CPAs are licensed by their respective states to provide a variety of services related to financial accounting, auditing, tax preparation, and consulting.

It typically takes four years of college education plus one year of work experience in public accounting to become eligible for CPA licensure. After completing the educational requirements, candidates must pass the Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA). Once they have passed the exam, they must fulfill any additional requirements set forth by their state board of accountancy before receiving their CPA license.

To become a CPA, you must first meet your state’s educational and experience requirements. This includes completing at least 150 semester hours of college-level coursework in accounting and business topics such as taxation, auditing, financial reporting, and business law. You must also complete one year of relevant work experience in public accounting or other approved areas. After meeting these requirements you can then apply to take the Uniform CPA Exam administered by the AICPA.

The cost for taking the Uniform CPA Exam varies from state to state but typically ranges from $800-$1,000 depending on which sections you choose to take and whether or not you are eligible for any discounts or waivers. Additionally, there may be additional fees associated with applying for licensure in your state such as application fees or background check fees.

6. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation created by the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA). It is designed to recognize professionals who demonstrate excellence in management accounting, financial management, and business strategy.

To become a CGMA, you must have at least five years of experience in finance or accounting, as well as a bachelor’s degree or equivalent. You must also pass two exams: the CIMA Professional Qualification Exam and the AICPA Uniform CPA Examination. The process typically takes between one and two years to complete.

The cost for becoming a CGMA varies depending on your country of residence and which exam you take first. Generally speaking, it will cost around $1,000-$2,000 to get the designation. This includes fees for exams, study materials, membership dues, and other associated costs.

Once you become a CGMA, you will gain access to exclusive resources and networking opportunities that can help you advance your career. You will also be able to use the CGMA designation on your resume and business cards to demonstrate your commitment to excellence in management accounting.

7. 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 individuals who have demonstrated a high level of knowledge and expertise in the field of treasury management. The CTP certification is intended to be a mark of distinction among treasury professionals, and it is recognized by employers as evidence of an individual’s commitment to their profession.

The CTP program consists of two parts: a comprehensive exam and an online course. The exam covers topics such as cash management, financial analysis, risk management, and capital markets. In order to become certified, candidates must pass the exam with a score of 70% or higher.

The online course covers topics such as financial statement analysis, credit analysis, foreign exchange risk management, and corporate finance. The course includes interactive exercises and case studies that help prepare candidates for the exam.

In order to become certified, candidates must complete both the exam and the online course within 18 months from the date they register for the program. Candidates can choose to take either part first; however, they must complete both parts within 18 months in order to receive their certification.

The cost for taking the CTP program varies depending on whether you are an AFP member or non-member. For AFP members, the cost is $1,295; for non-members it is $1,595.

8. Certified Financial Manager (CFM)

Certified Financial Manager (CFM) is a professional certification offered by the Institute of Certified Financial Managers (ICFM) to demonstrate the knowledge and skills necessary to manage financial operations. It is designed for experienced financial professionals who are responsible for the day-to-day management of financial operations in their organization.

It typically takes about six months to complete the CFM program, which includes studying and passing an exam. The exam covers topics such as accounting principles, budgeting, cash flow analysis, investment management, risk management and strategic planning.

To get certified as a CFM, you must meet certain eligibility requirements. These include having at least three years of experience in financial management or related fields, holding a bachelor's degree or higher from an accredited institution, and passing the ICFM certification exam.

The cost of getting certified as a CFM varies depending on your location and the type of program you choose. Generally speaking, it can range from $1,000 to $2,500 for all required materials and fees associated with taking the exam.

9. Accredited Investment Fiduciary (AIF)

Accredited Investment Fiduciary (AIF) is a professional designation awarded by the Center for Fiduciary Studies that recognizes individuals who have demonstrated a comprehensive understanding of fiduciary standards of care. AIFs are held to the highest standards of trust and loyalty when managing investments on behalf of their clients.

The AIF designation requires completion of an online course, which can take anywhere from 8 to 12 hours to complete. The course covers topics such as fiduciary law, investment principles, and risk management. After the course is completed, applicants must pass an exam with a score of 70% or higher in order to receive the AIF designation.

The cost for the AIF program is $795 USD and includes access to the online course materials and exam fee. Additionally, there are fees associated with renewing the AIF designation every two years, which include paying an annual fee and completing continuing education credits.

10. Certified Retirement Counselor (CRC)

A Certified Retirement Counselor (CRC) is a professional designation that recognizes individuals who have attained a high level of knowledge and experience in the field of retirement planning. The CRC designation is offered by the International Foundation for Retirement Education (InFRE), an organization dedicated to providing educational resources and certifications to retirement professionals.

To become a CRC, individuals must meet certain eligibility requirements and complete the required coursework. Eligibility requirements include having at least three years of experience in retirement planning or related fields, such as financial planning, investments, insurance, or employee benefits. In addition, applicants must pass an exam consisting of four sections: Retirement Planning Process; Investment Strategies; Retirement Plan Design & Administration; and Employee Benefits & Retirement Planning.

The coursework for the CRC certification consists of two parts: an online self-study program and an instructor-led program. The online self-study program includes nine modules covering topics such as retirement plan design, investment strategies, taxation issues, Social Security benefits, estate planning, and more. The instructor-led program consists of six days of classroom instruction and covers the same topics as the online self-study program but with more in-depth discussion and hands-on activities.

The cost for the CRC certification varies depending on which option you choose (self-study or instructor-led). The self-study option costs $1,595 while the instructor-led option costs $2,995. Additionally, there is a one-time application fee of $75.

Once you have successfully completed all requirements for the CRC certification you will be eligible to use the “CRC” designation after your name when marketing yourself as a retirement planner or consultant.

11. Chartered Financial Consultant (ChFC).

Chartered Financial Consultant (ChFC) is a professional designation awarded by The American College of Financial Services. It is designed to recognize individuals who have achieved a high level of knowledge in financial planning and insurance. The ChFC program provides comprehensive training in areas such as tax planning, retirement planning, investments, estate planning, risk management and employee benefits.

It typically takes two to three years to complete the requirements for the ChFC designation. To obtain the ChFC designation, candidates must complete nine college-level courses and pass a comprehensive examination. The courses cover topics such as financial analysis and decision-making, taxation, investments, retirement plans, insurance and estate planning.

The cost of obtaining the ChFC designation varies depending on the institution offering the program. Generally speaking, it can cost anywhere from $2,500-$4,000 for tuition fees alone. This does not include additional costs such as textbooks or exam fees.

In addition to completing coursework and passing an exam, candidates must also meet certain experience requirements before they can be awarded the ChFC designation. These requirements vary by state but generally require at least three years of relevant work experience in financial services or related fields prior to applying for certification.

Do You Really Need a Financial Coordinator Certificate?

No, you do not need a financial coordinator certificate to be successful in the finance industry. Many people have achieved success in the field without formal education or certification. However, a financial coordinator certificate can provide an individual with additional knowledge and experience that could be beneficial to their career.

A financial coordinator certificate provides an individual with a comprehensive understanding of the fundamentals of finance, such as accounting principles, budgeting, investments and risk management. It also teaches important skills such as communication, problem-solving and decision-making that are essential for any career in finance. By having a better understanding of the basics of finance and related topics, individuals can increase their chances of finding employment or advancing their careers in the field.

In addition to providing knowledge and skills related to finance, a financial coordinator certificate could also help an individual stand out from other job applicants. Employers may view those who have taken the time to pursue this type of certification as more serious about pursuing a career in finance than those who have not done so. This could give them an edge over other applicants when it comes to getting hired or promoted within the company.

Overall, while it is not necessary to obtain a financial coordinator certificate in order to be successful in the finance industry, obtaining one can provide numerous benefits that could be advantageous for someone looking to establish or further their career within this field.

Related: Financial Coordinator Resume Examples

FAQs About Financial Coordinator Certifications

1. What qualifications do I need to become a financial coordinator?

Answer: To become a financial coordinator, you must have at least a bachelor’s degree in finance, accounting, business administration or related field. You should also have at least two years of experience working in the finance and/or accounting fields.

2. What type of certification is available for financial coordinators?

Answer: The most common certification for financial coordinators is the Certified Financial Coordinator (CFC) credential offered by the Institute of Financial Coordinators (IFC). This certification requires completion of an accredited educational program, passing a comprehensive exam and maintaining continuing education requirements.

3. How long does it take to get certified as a financial coordinator?

Answer: The process typically takes between one and two years depending on the individual’s level of experience and dedication to studying for the exam.

4. What are the benefits of becoming certified as a financial coordinator?

Answer: Becoming certified as a financial coordinator demonstrates your expertise in finance and accounting to employers and clients alike. It can also open up more job opportunities, increase your earning potential, provide access to exclusive resources and networking opportunities, and give you an edge when competing for promotions.

5. What is the cost associated with obtaining CFC certification?

Answer: The cost associated with obtaining CFC certification varies depending on location but typically ranges from $100-$400 USD plus any applicable taxes and fees.