The Chartered Financial Analyst (CFA ®) program is a rigorous self-study curriculum that requires each candidate to pass a series of three six-hour examinations. The exam series and related studies take at least two years to complete. The CFA ® Institute, which administers the program, recommends a minimum of 250 hours of study for each of the three examination levels. The curriculum covers investment analysis, portfolio management, financial statement analysis, corporate finance, economics, performance measurement, and professional ethics. The Institute provides learning materials and recommended plans of study, and private educational companies offer their own study outlines and review courses. More than 85,000 candidates in 145 countries and territories enroll for the annual examinations in June, and another 30,000 are expected to enroll for the semi-annual exams in December.
Certified Treasury Professionals (CTPs) manage financial institutions' cash positions, invest funds in short-term marketable securities, and make other financial decisions regarding risk management and funding. The CTP is offered by the Association for Financial Professionals (AFP), which also provides continuing education, promotes public policy research, develops financial tools, sets industry standards, produces publications, and represents the financial industry to legislators and regulators. The AFP serves more than 14,000 individual members who have titles such as CFO, Vice President of Finance, Treasurer, Assistant Treasurer, Director, Financial Analyst, or Cash Manager.
Approximately two thirds of CTP-designated professionals are employed in non-financial corporations. The other third works in the financial services sector, helping financial institutions meet their liquidity needs by overseeing the holding and investing of cash and short-term securities.
The Institute of Certified Bankers is an affiliate of the American Bankers Association (ABA). The ABA, headquartered in Washington, D.C., is the major trade association for banking in the United States. The Institute of Certified Bankers offers nine professional certification programs in the areas of trust and investments, regulatory compliance, lending, retail banking, and securities administration. The nine are:
The Institute also sponsors an Associate Member Program for those beginning to chart their professional careers in financial services.
The Bank Administration Institute (BAI) is the financial services industry's leading professional organization focused on enhancing employee and organizational performance. The BAI Center for Certification offers the following programs:
There are several Schools of Banking that offer programs leading to professional certification. Some are associated with universities. Principal among them are:
