In the finance realm, there are many different types of certifications you can obtain. Differentiating between all of them can be challenging and confusing. You want to make sure you are choosing the right one for your financial career path.
Chartered Financial Analyst (CFA)
Demand for Chartered Financial Analysts has grown exponentially in the last few years. A CFA is highly knowledgeable in multiple fields such as economics, portfolio management, investment banking and of course, analysis. There are many career options for someone with a CFA certification. Careers in investment groups, banks, insurance firms, and mutual funds are just a few that are available with a CFA certification.
Financial Risk Manager (FRM)
Business today are looking for Financial Risk Managers more than ever. Since the crash in 2008, businesses are more aware of the need for Financial Risk Managers for future endeavors. FRM credentials are widely accepted across the financial sector. The FRM exam is broken into two separate parts and requires you to have two years of experience in order to become an FRM. An FRM certification you can have career paths as a consultant, analyst, asset liability manager, and risk control manager.
Certified Financial Planner (CFP)
A CFP is one of the most popular financial careers across the board. The exam to earn a CFP is broken into five different parts and can take one to two years to complete. A CFP will open up many doors for you in regards to careers. Careers with a CFP include financial planning, retirement, and estate planning to name a few.
Certified Credit Professional (CCP)
The Certified Credit Professional Exam is designed for individuals to be prepared for any aspect of credit management. Prior credit managing experience is required to take the exam. A total of five years of credit management experience is needed to take the CCP exam. Studying for the course can take up to two or three years to complete. Credit analysts, claims managers and credit risk managers are a few career paths given to CCP’s.
Certified Public Accountant (CPA)
To become a certified public accountant you will need a prior CFA certification. As a CPA you can expand your career paths to include accounting, compliance, tax, and risk management. A CPA is regarded as an advanced financial certification and is highly valued in the job environment. The CPA exam has four sections to it that include auditing, accounting and reporting, business environment and concepts, and regulation.