Top 10 Treasury Manager Certifications
This article discusses the top treasury manager certifications available, their benefits, and how to obtain them.
Published 17 min read
Certifications are important for treasury managers in the job market because they demonstrate a level of expertise and proficiency that employers look for when hiring. Treasury managers must have an understanding of financial markets, risk management, capital structure, and other related topics. With a certification, employers can be confident that the individual is knowledgeable and well-versed in these areas. Furthermore, certifications also show potential employers that the individual has taken the initiative to further their education and commitment to the field. This makes them more attractive candidates for positions within finance departments.
This article reviews some of the top certifications for Treasury Managers and explains how they can contribute to a treasury manager's career growth.
What are Treasury Manager Certifications?
Treasury manager certification is a professional designation that is designed to recognize individuals who have demonstrated an advanced level of knowledge and skill in managing corporate treasury operations. This type of certification is typically earned by completing a specialized program or course offered by the Association for Financial Professionals (AFP). The AFP's Certified Treasury Manager (CTM) credential requires applicants to demonstrate their mastery of key topics such as cash flow management, financial risk management, capital structure optimization, and global liquidity.
The CTM certification can help individuals advance their careers in the field of corporate finance and treasury management. It provides holders with recognition from the industry, showing employers that they possess the skills necessary to manage complex financial operations. Additionally, it can open up new career opportunities for those looking to move into higher-level positions within their organization or switch industries altogether. Finally, having a CTM certification can give holders an edge over competitors when applying for jobs or promotions.
Pro Tip: When seeking a treasury manager certification, make sure to research the different certifications offered and choose one that is tailored to your job role and industry. Additionally, take advantage of any available online courses or seminars to supplement your learning and increase your knowledge of treasury management.
Related: What does a Treasury Manager do?
Top 10 Treasury Manager Certifications
Here’s our list of the best certifications available to Treasury Managers today.
1. Certified Treasury Professional (CTP)
Certified Treasury Professional (CTP) is a professional designation offered by the Association for Financial Professionals (AFP). It is designed to recognize individuals who have demonstrated a high level of competency in the field of treasury management. CTP certification is awarded to those who demonstrate knowledge and understanding of the principles, practices, and regulations related to treasury management.
The CTP certification process includes passing an exam that covers topics such as cash flow forecasting, risk management, investments, debt financing, and international banking. The exam consists of 150 multiple-choice questions and must be completed within three hours. Candidates must also complete a minimum of four years of professional experience in the field of treasury management.
In order to obtain the CTP certification, candidates must register with AFP and pay an application fee. The cost of the application fee is $395 for AFP members and $495 for non-members. Once registered, applicants will receive their study materials and can begin preparing for the exam. After passing the exam, applicants will receive their CTP certificate and official designation as a Certified Treasury Professional.
2. 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 abilities of individuals who manage cash and treasury operations in both public and private sectors. The CCM credential is earned through successful completion of an exam that covers topics such as cash flow management, financial reporting, risk management, investments, banking services, foreign exchange transactions, and more.
The CCM exam consists of 150 multiple-choice questions that must be completed within three hours. To qualify for the exam, applicants must have at least two years of full-time experience in the field or a related field. The cost of taking the exam is $450 USD. After successfully passing the exam, individuals will receive their CCM designation from the Institute of Financial Operations and become part of an elite group of professionals recognized for their expertise in cash management.
3. Certified Treasury Analyst (CTA)
Certified Treasury Analyst (CTA) is a professional certification offered by the Association for Financial Professionals (AFP). It is designed to demonstrate expertise in treasury management, cash and liquidity management, risk management, and investments. The CTA designation is a recognition of a treasury professional’s knowledge of the principles and practices of corporate finance.
To obtain the CTA designation, an individual must pass the CTP Exam administered by AFP. The exam consists of three parts: Cash Management & Liquidity, Risk Management & Investments, and Corporate Finance & Treasury Management. The exam takes approximately four hours to complete.
The cost for taking the CTP Exam is $595 for AFP members or $795 for non-members. Additionally, there are other costs associated with obtaining the CTA designation such as membership fees to AFP and study materials.
Once an individual has passed the CTP Exam, they will then need to complete a minimum of two years of professional experience in treasury management before they can apply for the CTA designation. After submitting their application and supporting documents to AFP, they will be reviewed by an independent panel of experts who will determine if they meet all requirements for the certification. Once approved, individuals will receive their official Certified Treasury Analyst credentials from AFP.
4. Chartered Financial Analyst (CFA)
Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute to those who have met certain educational, professional, and ethical standards. It is an internationally recognized credential that provides professionals with the knowledge and skills necessary to excel in the field of investment management.
The CFA program requires candidates to pass three levels of exams that cover topics such as economics, financial reporting and analysis, corporate finance, quantitative methods, portfolio management, and equity investments. The exams are administered twice a year in June and December.
In order to become a CFA charterholder, candidates must meet the following requirements:
- Have a bachelor’s degree or equivalent from an accredited college or university
- Have four years of qualified work experience in the investment decision-making process
- Pass all three levels of the CFA Program Exam
- Adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct
- Become a member of the CFA Institute.
It typically takes two to four years for candidates to complete all three levels of the exam. The cost for each level varies depending on when you register but generally ranges from $700-$1,500 USD per level.
5. Certified Public Accountant (CPA)
Certified Public Accountant (CPA) is a professional designation that is awarded by the American Institute of Certified Public Accountants (AICPA). CPAs are licensed to provide financial advice, audit financial statements, and prepare tax returns. They must meet certain educational and experience requirements in order to become certified.
It typically takes four years of college education, including 150 semester hours of coursework, to become a CPA. In addition to completing the required coursework, candidates must also pass the Uniform CPA Exam administered by the National Association of State Boards of Accountancy (NASBA). This exam consists of four sections: Auditing and Attestation; Business Environment and Concepts; Financial Accounting and Reporting; and Regulation.
In order to become a CPA, you must first meet the educational requirements set forth by your state board of accountancy. You may need to complete additional courses or exams depending on your state’s requirements. Once you have met these educational requirements, you can apply for licensure with your state board of accountancy. The application process will require you to submit an application fee along with other documents such as transcripts from your college courses, letters of recommendation from employers or professors, and proof that you have passed the Uniform CPA Exam.
The cost for becoming a CPA varies depending on which state you are applying in as well as any additional fees associated with taking the exam or completing additional courses or exams required by your state board. Generally speaking, it can cost anywhere from $500-$2,000+ depending on these factors.
6. 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 recognizes individuals who have achieved a high level of competency in management accounting, financial reporting, strategic planning, risk management, and business performance.
To get the CGMA designation, you must first pass the CIMA Professional Qualification. This consists of three levels: Operational Level, Management Level and Strategic Level. Each level requires passing four exams. The exams are available online or in-person at various testing centers around the world. The entire qualification process typically takes between two to three years to complete.
In addition to passing the CIMA Professional Qualification exams, candidates must also meet certain educational requirements and have two years of relevant work experience in order to be eligible for the CGMA designation.
The cost for taking each exam varies depending on your location and whether you take it online or in-person. Generally speaking, it can range from $150 - $300 per exam plus any applicable taxes or fees.
Once you have successfully completed all three levels of the CIMA Professional Qualification and met all other eligibility requirements, you will receive your official CGMA designation certificate from AICPA/CIMA along with access to additional resources such as webinars, publications and networking events.
7. Association for Financial Professionals (AFP) Certificate in Treasury Management
The Association for Financial Professionals (AFP) Certificate in Treasury Management is a professional certification program designed to help treasury and finance professionals develop their skills and knowledge. The program provides a comprehensive understanding of the fundamentals of treasury management, including cash flow forecasting, financial risk management, corporate finance and investment strategies.
The AFP Certificate in Treasury Management consists of five courses: Cash Flow Forecasting, Financial Risk Management, Corporate Finance & Investment Strategies, Working Capital Strategies and Treasury Systems & Technology. Each course takes approximately 10-15 hours to complete.
To earn the AFP Certificate in Treasury Management, individuals must pass all five courses with a score of 70% or higher on each exam. Upon successful completion of all five courses, individuals will receive an official certificate from the Association for Financial Professionals.
The cost of the AFP Certificate in Treasury Management varies depending on your membership status with AFP. For non-members, the cost is $1,250 per person; for members it is $995 per person.
8. Institute of Financial Operations Certified Treasury Professional Program
The Institute of Financial Operations Certified Treasury Professional Program is a professional certification program that provides treasury professionals with the skills and knowledge necessary to effectively manage their organization’s financial operations. The program is designed to help individuals develop the skills and knowledge needed to become successful in the fields of finance, accounting, and treasury management.
The program consists of four courses: Cash Management & Forecasting, Investment Management, Debt & Risk Management, and International Treasury Management. Each course is designed to provide an in-depth look at the various aspects of treasury management and how they apply to a business environment. The courses are offered both online and in-person.
It typically takes approximately six months to complete all four courses. However, this timeline can vary depending on an individual's learning pace and availability. To get certified, individuals must complete all four courses within one year from their start date.
In order to enroll in the program, individuals must have a bachelor’s degree or higher from an accredited college or university with at least two years of professional experience in financial operations or related field. They must also pass an exam after completing each course.
The cost for the entire program varies based on whether you choose to take it online or in person. For online classes, it costs $2,750 for members and $3,500 for non-members; for in-person classes it costs $3,000 for members and $3,750 for non-members.
9. American Bankers Association National Commercial Lending School
The American Bankers Association National Commercial Lending School (ABA NCLS) is a comprehensive educational program designed to provide commercial lenders with the skills and knowledge they need to be successful in today’s competitive banking environment. The school is offered in two formats: an intensive, four-day onsite program and an online version that can be completed at one’s own pace. The onsite program is held at various locations throughout the United States and typically takes four days to complete. It consists of classroom lectures, case studies, simulations, and interactive discussions with instructors and other participants. The online version takes approximately 30 hours to complete and includes self-paced learning modules, quizzes, and exercises.
The ABA NCLS covers topics such as credit analysis, loan structuring, risk management, legal issues in lending, portfolio management, relationship management, capital markets and more. Participants who successfully complete the program receive a certificate of completion from the ABA.
The cost for the onsite program varies depending on location but generally ranges from $1,500 - $2,000 per participant. The cost for the online version is $995 per participant or $895 for ABA members.
10. International Association of Financial Executives Institutes Corporate Finance Certification
The International Association of Financial Executives Institutes (IAFEI) Corporate Finance Certification is a professional certification program designed to equip financial executives with the knowledge and skills necessary to succeed in the corporate finance industry. The certification is intended for individuals who are looking to advance their careers in corporate finance, or those who are currently working in the field and want to gain a more comprehensive understanding of the subject.
The certification consists of two parts: a self-study course and an online exam. The self-study course covers topics such as financial statement analysis, capital budgeting, risk management, and mergers & acquisitions. The course materials can be accessed online or downloaded from IAFEI's website. Once completed, participants must pass an online exam which consists of multiple choice questions based on the material covered in the self-study course.
The entire process typically takes between six months and one year to complete depending on how much time participants dedicate to studying for the exam. Participants should plan on spending at least 40 hours studying for the exam over that period of time.
To get certified, participants must first register with IAFEI and pay a registration fee of $495 USD. This fee includes access to all study materials as well as one attempt at taking the online exam. If participants do not pass the exam on their first attempt, they may retake it at an additional cost of $295 USD per attempt.
Once certified, participants will receive an official certificate from IAFEI certifying them as a Certified Corporate Financial Executive (CCFE). This certificate can be used to demonstrate expertise in corporate finance and may help open doors for career advancement opportunities within this field.
Do You Really Need a Treasury Manager Certificate?
The answer to this question depends on the individual and their specific career goals. For some, a treasury manager certificate may be necessary to further their career, while for others it may not be necessary at all.
For those looking to become a treasury manager in a corporate setting, the certification is usually required. This credential demonstrates that the individual has the required knowledge and skills needed to properly manage a company’s finances, including budgeting, cash flow management, risk management, and financial analysis. It can also help ensure that they are up-to-date with industry trends and regulations, as well as provide them with access to valuable resources such as networking opportunities and job postings.
On the other hand, if an individual is looking to become a freelance or independent consultant working with various organizations on their financial needs, then obtaining a treasury manager certificate may not be essential. However, having this type of certification can still be beneficial because it shows prospective clients that they have the necessary expertise and experience in the field. Furthermore, it can help them stand out from other consultants who do not have such credentials.
Ultimately, whether or not an individual needs a treasury manager certificate depends on their particular circumstances and career aspirations. If they are interested in pursuing a position as a treasurer for an organization or becoming an independent consultant in the field of finance then obtaining this certification could prove invaluable in helping them reach their goals.
Related: Treasury Manager Resume Examples
FAQs About Treasury Manager Certifications
Q1. What is a Treasury Manager Certification?
A1. A Treasury Manager Certification is a professional credential that recognizes the knowledge and skills of individuals who work in the treasury management field. The certification program provides individuals with an opportunity to demonstrate their expertise through successful completion of a comprehensive exam.
Q2. How do I become certified as a Treasury Manager?
A2. To become certified as a Treasury Manager, you must complete the necessary coursework and pass the certification exam offered by the Association for Financial Professionals (AFP). The exam covers topics such as cash flow forecasting, financial analysis, risk management, and working capital management.
Q3. How long does it take to earn my Treasury Manager Certification?
A3. Most people can expect to spend between 6-12 months studying for and completing their Treasury Manager Certification. This includes completing required coursework and passing the certification exam administered by AFP.
Q4. Is there any continuing education required after I receive my certification?
A4. Yes, AFP requires that all certified Treasury Managers complete 30 hours of continuing education credits every three years in order to maintain their certification status.
Q5. Are there any other certifications available related to treasury management?
A5. Yes, there are several other certifications available related to treasury management including Certified Cash Manager (CCM), Certified Corporate Financial Planning & Analysis Professional (FP&AP), and Certified Public Treasurer (CPT).