Top 10 Treasurer Certifications

Certifications for a treasurer are important in the job market because they help demonstrate a candidate's knowledge, experience and commitment to their profession. Certifications provide employers with assurance that a candidate is competent and knowledgeable about the role of a treasurer and has the necessary skills to perform the job. Furthermore, certifications can give employers confidence that their future treasurers will be able to handle complex tasks, such as financial analysis, investing and risk management. Ultimately, these certifications can help an individual stand out from other candidates in the job market and increase their chances of success.

This article reviews the most beneficial certifications for Treasurers and explains how they can help to advance their career.

What are Treasurer Certifications?

Treasurer certification is a way for organizations to ensure that their treasurer has the necessary knowledge and skills to effectively manage funds. A treasurer is responsible for the financial health of an organization, and certification can give an organization assurance that its treasurer has the qualifications needed to make sound financial decisions.

By obtaining treasurer certification, a treasurer demonstrates their commitment to the organization’s financial objectives and provides evidence of their knowledge of sound financial principles. Certified treasurers understand how to handle cash flow, analyze budgets, and use financial software. They are also knowledgeable about accounting standards, banking regulations, legal requirements, and other topics related to managing finances.

Having a certified treasurer on staff can help an organization save money by increasing transparency in financial reporting and ensuring compliance with laws and regulations. It can also help reduce errors in recordkeeping, enhance internal controls over cash flows, increase confidence among stakeholders in the accuracy of reported results, and improve overall performance. Furthermore, it can provide organizations with access to resources from professional associations that specialize in treasury management.

Pro tip: When considering treasurer certification, research the various available programs to ensure they meet your specific needs and provide the necessary knowledge and skills. Be sure to select a program that is accredited by an appropriate governing body, as this will help you to maintain the highest standards of financial management.

Related: What does a Treasurer do?

Top 10 Treasurer Certifications

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

1. 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 individuals who have demonstrated expertise in the treasury profession. The CTP designation is the most widely recognized and respected credential in corporate finance and treasury management.

It typically takes two to three years to complete the certification process, depending on your background and experience. To become a CTP, you must first meet certain eligibility requirements, including having at least three years of full-time professional experience in corporate finance or treasury management. You also need to pass a comprehensive exam that covers topics such as cash management, risk management, investments, financial analysis, and more.

The cost of becoming a CTP varies depending on your AFP membership status. For non-members of AFP, the fee is $1,500; for members of AFP, the fee is $1,200; and for students enrolled in an accredited university program related to finance or treasury management, the fee is $750.

2. Certified Public Finance Officer (CPFO)

Certified Public Finance Officer (CPFO) is a professional certification awarded by the Government Finance Officers Association (GFOA). The CPFO certification is designed to recognize the expertise and knowledge of finance officers who have achieved a high level of proficiency in government financial management.

It typically takes two to three years of study and experience to become eligible for the CPFO certification. Candidates must complete at least 80 hours of approved coursework, pass an examination, and demonstrate at least three years of responsible experience in governmental finance. The GFOA also requires that candidates maintain their CPFO certification through continuing education credits every two years.

The cost to obtain the CPFO certification varies depending on the courses taken and other fees associated with the application process. Generally, it costs between $400 and $2,000 for all necessary coursework, exams, and fees. Additionally, there may be additional costs associated with travel or lodging if courses are taken away from home.

3. Certified Cash Manager (CCM)

Certified Cash Manager (CCM) is a professional certification program offered by the Institute of Financial Operations. It is designed to recognize and validate the knowledge, skills, and experience of cash management professionals. The CCM certification program provides individuals with an opportunity to demonstrate their expertise in cash management operations and processes.

The CCM certification program consists of four exams: Cash Management Basics, Cash Management Practices, Cash Management Systems, and Cash Management Strategies. To become certified, individuals must successfully complete all four exams within a two-year period. The exams are available both online and in-person at testing centers throughout the United States and Canada.

The cost for the CCM certification program varies depending on the number of exams taken and whether they are taken online or in-person. For example, taking all four exams online costs $1,095 while taking them in-person costs $1,295. Additionally, there is a one-time application fee of $150 that must be paid when registering for the program.

Once all four exams have been successfully completed within the two year period, individuals will receive their official CCM certificate as well as access to exclusive resources such as job postings and networking opportunities with other certified cash managers.

4. Certified Financial Analyst (CFA)

Certified Financial Analyst (CFA) is a professional designation given by the CFA Institute to individuals who have completed a series of rigorous exams and met other qualifications. The CFA designation is highly sought after in the finance industry, as it demonstrates an individual’s expertise in financial analysis, investment management, and portfolio management.

The CFA program consists of three levels of exams, each increasing in difficulty. Level I tests basic knowledge of investment tools and concepts; Level II tests the application of these tools and concepts; and Level III tests the ability to apply them in portfolio management. Each level requires approximately 300 hours of study time and can take up to two years to complete all three levels.

To become a CFA charterholder, candidates must pass all three levels of the exam, have four years of qualified work experience related to investments or portfolio management, agree to adhere to the CFA 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 varies depending on when you register for each exam. Generally speaking, it costs around $1,500 USD per level ($4,500 total). This includes registration fees and study materials such as textbooks or online courses.

5. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation awarded by the Association of International Certified Professional Accountants (AICPA) and Chartered Institute of Management Accountants (CIMA). It is designed to recognize the expertise and experience of management accountants in providing strategic business advice. The CGMA designation demonstrates an individual’s commitment to the highest standards of ethical behavior, technical proficiency, and global business acumen.

To obtain the CGMA designation, individuals must meet certain education, experience, and examination requirements. Education requirements include having a bachelor’s degree in accounting or related field from an accredited college or university, or having at least five years of relevant work experience. Experience requirements include having at least three years of professional-level management accounting experience. Examination requirements include passing the CGMA exam which covers topics such as financial reporting, budgeting and forecasting, cost analysis, performance measurement and decision support.

The process to get the CGMA designation typically takes between six months and one year depending on how quickly you complete the required steps. The cost for obtaining the CGMA designation varies depending on which country you are located in but typically ranges from $200-$400 USD for registration fees plus additional fees for study materials and exam fees.

6. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation offered by the CFA Institute, a global association of investment professionals. The CFA program is designed to equip financial professionals with a comprehensive understanding of investment management and portfolio analysis. The program consists of three levels of examinations that test candidates on topics such as economics, accounting, ethics, portfolio management, and quantitative methods.

It typically takes four years to complete all three levels of the CFA program. Candidates must pass each level before advancing to the next one. In order to become a CFA charterholder, candidates must have at least four years of relevant work experience in addition to passing all three exams.

In order to get the CFA designation, candidates must first register for the exams with the CFA Institute and pay an exam registration fee. After registering for the exams, candidates can access study materials from the CFA Institute's website or purchase study materials from other sources. Once registered for an exam, candidates will also need to pay an additional fee for each exam they take.

The total cost of obtaining the CFA designation varies depending on factors such as how many times you take each exam and where you purchase your study materials from. Generally speaking, it can cost anywhere from $1,000-$4,000 USD in total fees and expenses associated with taking all three levels of the CFA program.

7. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation that indicates an individual has met the education, experience and examination requirements set by the state in which they practice. CPAs are licensed by each state’s Board of Accountancy to provide services such as auditing, taxation, financial planning, and consulting.

It typically takes four years to become a CPA. Most states require applicants to have a college degree with 150 semester hours of coursework in accounting and related subjects. In addition, applicants must pass the Uniform CPA Exam administered by the American Institute of Certified Public Accountants (AICPA). The exam consists of four parts: Auditing & Attestation; Financial Accounting & Reporting; Regulation; and Business Environment & Concepts.

To become a CPA, you must first meet all educational requirements set by your state’s Board of Accountancy. You will then need to take and pass the Uniform CPA Exam before applying for licensure in your state. Once you have passed the exam, you will need to submit an application for licensure along with any other required documents such as background checks or references from employers or colleagues.

The cost of becoming a CPA varies depending on your state’s requirements and fees associated with taking the exam, applying for licensure, and any continuing education courses needed to maintain your license. Generally speaking, it can cost anywhere from $1,000-$3,000 to become a licensed CPA.

8. Certified Internal Auditor (CIA)

The Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is the most recognized credential for internal auditors and is widely accepted in many countries around the world. The CIA designation demonstrates a commitment to professional excellence and provides assurance that an individual has met rigorous standards of knowledge, experience, and competence.

In order to become a Certified Internal Auditor, individuals must meet certain educational requirements and pass the three-part CIA exam. To be eligible to sit for the exam, applicants must have at least a bachelor’s degree from an accredited college or university, two years of professional experience in internal auditing or related fields, and have completed an approved internal audit education program.

The CIA exam consists of three parts: Part 1 – Essentials of Internal Auditing; Part 2 – Practice of Internal Auditing; and Part 3 – Business Knowledge for Internal Auditing. Each part is four hours long and consists of multiple-choice questions. The exams are administered by Prometric Testing Centers located throughout the world.

The cost to register for the CIA exam varies depending on where you take it. Generally speaking, it can range from $100-$600 per part plus any applicable taxes or fees. Additionally, there may be additional costs associated with taking review courses or purchasing study materials to help prepare for the exam.

Overall, it usually takes several months to complete all three parts of the CIA exam depending on an individual’s availability and preparation level.

9. Chartered Financial Consultant (ChFC)

Chartered Financial Consultant (ChFC) is a professional designation awarded by The American College of Financial Services. It is designed for financial professionals who work with individuals and businesses to provide comprehensive financial planning advice. The ChFC designation requires that a candidate have a minimum of three years of experience in the financial services industry, have completed at least nine courses from The American College of Financial Services, and successfully pass an examination.

The ChFC program takes approximately two to three years to complete depending on the individual's experience and education level. Candidates must complete nine courses from The American College of Financial Services, which cover topics such as estate planning, retirement planning, investments, insurance, taxation, and risk management. Upon successful completion of all nine courses and passing the ChFC exam, candidates will receive their ChFC designation.

The cost for the Chartered Financial Consultant program varies depending on the number of courses taken and the type of materials used. Generally speaking, it can cost anywhere from $2,000 to $3,500 for tuition fees alone. Additional costs may include books or other study materials as well as exam fees.

10. Chartered Investment Counselor (CIC)

Chartered Investment Counselor (CIC) is a professional designation awarded by the Canadian Securities Institute (CSI). It is designed to recognize individuals who have achieved a high level of expertise in the field of investment counseling. The CIC designation requires an individual to demonstrate knowledge and experience in all aspects of portfolio management, including asset allocation, risk management, tax planning, and financial planning.

In order to obtain the CIC designation, an individual must first complete the Chartered Investment Counselor Program offered by CSI. This program consists of seven courses that cover topics such as financial markets, investments and portfolio management, taxation and estate planning, and ethical practices. Upon successful completion of the program, applicants must pass a comprehensive examination administered by CSI.

The length of time it takes to obtain the CIC designation varies depending on how quickly an individual can complete the required coursework and pass the exam. Generally speaking, it takes between two to four years to complete all requirements for obtaining the CIC designation.

The cost for obtaining the CIC designation varies depending on which courses are taken and whether or not any additional materials are purchased. Generally speaking, it costs approximately $2,000-$3,000 CAD for tuition fees alone. Additional costs may include textbooks or other study materials as well as registration fees for exams.

Do You Really Need a Treasurer Certificate?

The short answer to this question is “it depends.” Whether or not a treasurer certificate is necessary for your organization will depend on the specific requirements of that organization, as well as the scope of duties you intend to take on as treasurer.

In some cases, a treasurer certificate may be required in order to legally serve as a treasurer. Depending on the size and scope of the organization, certain qualifications may be necessary in order to serve in this role. A treasurer certificate can demonstrate that you have the knowledge and skills needed to effectively manage an organization’s finances. It can also help establish trust with members of the board and other stakeholders. In addition, having a treasurer certificate may be beneficial if you are looking for employment opportunities within finance or accounting departments.

On the other hand, if you are serving as treasurer for a small or informal organization with limited financial needs, then a treasurer certificate may not be necessary. In these cases, it is important to ensure that you are familiar with all relevant laws and regulations related to financial management and reporting so that your responsibilities are carried out appropriately.

Ultimately, whether or not you need a treasurer certificate will depend on the specific requirements of your organization and your own comfort level with managing finances.

Related: Treasurer Resume Examples

FAQs About Treasurer Certifications

Q1: What is a Treasurer Certification?

A1: A Treasurer Certification is an industry-recognized credential that demonstrates a professional's knowledge and understanding of financial management, accounting, and investment principles. The certification is designed to help prepare individuals for the role of treasurer in their organization or company.

Q2: How do I become certified as a treasurer?

A2: To become certified as a treasurer, you must complete an accredited program in finance or accounting. After completing the program, you will need to pass an examination administered by a recognized governing body such as the Institute of Certified Professional Managers (ICPM).

Q3: What are the benefits of obtaining a Treasurer Certification?

A3: Obtaining a Treasurer Certification demonstrates your commitment to financial management and accountability. It can provide you with greater credibility when seeking employment opportunities, as well as increased earning potential. Additionally, it may qualify you for leadership positions within your organization or company.

Q4: How long does it take to obtain a Treasurer Certification?

A4: The amount of time required to obtain a Treasurer Certification depends on the program you choose. Generally speaking, most programs can be completed in 1-2 years if taken full-time. However, some programs allow students to take classes part-time or online and can take up to 3 years to complete.

Q5: What are the requirements for maintaining my Treasurer Certification?

A5: To maintain your Treasurer Certification, you must complete continuing education courses every two years. Additionally, you must adhere to any ethical standards set forth by your certification governing body (such as ICPM) in order to keep your certification valid.