8 Finance Certifications to Include in Your Job Descriptions

1. Certified Investment Management Analyst (CIMA)

If you’re hiring employees for a bank or an investment firm, consider looking for candidates with the CIMA credential. Offered by the Investments and Wealth Institute, this finance certification is for financial planners, investment consultants, financial analysts and wealth-management experts.

Candidates must pass a background check, complete the CIMA education program and have worked for at least three years in financial planning or a closely related field. Certified individuals must complete at least 40 hours of continuing education every two years.

Requiring the CIMA designation helps ensure your new hire is knowledgeable about key finance topics, such as investment policy, asset allocation and performance measurement.

2. Certified Financial Planner (CFP)

To obtain the CFP credential, a financial services professional must complete a rigorous four-step process. It covers the following topics:

• Financial planning
• Insurance planning
• Risk management
• Tax planning
• Estate planning
• Investment planning

Additionally, every CFP commits to acting in each client’s best interests. Of all finance jobs posted on Indeed, 1.9% listed the CFP credential as a requirement,¹ highlighting its importance in the financial services industry.

3. Certified Private Wealth Advisor (CPWA)

If your firm works with high-net-worth clients, consider requiring the CPWA credential for any employee whose job description includes providing financial advice. Offered by the Investments and Wealth Institute, the certification indicates a candidate has the qualifications to help clients manage and grow their wealth.

To obtain the credential, candidates must have a bachelor’s degree and at least five years of experience in finance.

4. Chartered Financial Analyst (CFA)

The CFA credential, included in 1.56% of all Indeed finance job listings, is offered by the CFA Institute. If you own or manage an investment firm, the CFA may be more relevant to your needs than the CFP, as it focuses on stock analysis, derivatives, portfolio management and other investment-related topics.

To complete the CFA program, a financial professional must pass three exams and have at least three years of relevant professional experience that involves financial decision-making.

5. Certified Public Accountant (CPA)

While the CPA isn’t a finance certification, it’s a common requirement for employers seeking skilled accounting professionals. Because the CPA credential is a license and not a certification, the requirements vary by state. Check with your state’s board of accountancy for more information on the requirements in your jurisdiction.

To become a CPA, an accountant must pass an exam comprising four sections:

• Financial accounting and reporting
• Regulation of the business environment
• Auditing and attestation
• Taxation and regulation

6. Certified Internal Auditor (CIA)

Many finance certifications focus on money management and investing, but the CIA credential is for individuals with experience in conducting internal audits. Hiring an internal auditor can have several benefits, such as increased reporting accuracy and enhanced compliance with state and federal regulations.

The Institute of Internal Auditors (IIA) requires CIA candidates to meet the following requirements:

• Complete a master’s degree
• Obtain the Internal Audit Practitioner credential
• Accumulate at least five years of experience in internal auditing

According to Indeed data, the CIA credential appeared in just over 1% of all finance job listings. If risk management is your top priority, consider requiring the CIA and the Certification in Risk Management Assurance (CRMA) designations.

7. Certified Fraud Examiner (CFE)

If your company detects fraud for a government or law enforcement agency, consider requiring the CFE credential. Individuals who pass the exam have expert knowledge in preventing and detecting fraud. They’re also qualified to conduct fraud investigations for private companies and public agencies.

Although the CFE only appeared in 0.58% of the finance job listings on Indeed, it’s a valuable finance professional certification. The Association of Certified Fraud Examiners (ACFE) uses a points system to determine who’s eligible for the CFE designation. Points are awarded for the following:

• Professional experience
• Education
• Professional certification/credentials

Point values vary, so an individual may earn the CFE without completing a college degree. For example, 10 years of full-time work experience in a fraud-related discipline is worth 50 points, the minimum required for certification. Earning a bachelor’s degree is worth 40 points, so it’s also possible for an individual to earn the credential after two years of full-time work.

8. Certified Management Accountant (CMA)

Only 0.22% of the finance jobs posted on Indeed listed the CMA credential as a requirement. However, requiring the CMA may benefit your organization if you need employees capable of creating budgets, developing financial forecasts and assessing financial performance.

Offered by the Association of Accountants and Financial Professionals in Business, the CMA assesses 12 different competencies, including cost management, internal controls, external reporting and financial statement analysis. Applicants are also required to submit original college transcripts and validate their work experience.

Benefits of requiring finance certifications

Whether you’re a recruiter or a business owner, you need an efficient way to screen applications and identify quality candidates. Requiring one of these professional certifications may help you reduce the time it takes to fill open roles, as each one requires some combination of education, skills and work experience.

It can also help you find candidates who are committed to their careers. Certified professionals dedicate hours to preparing for exams, gaining work experience and completing required coursework, which shows they’re interested in professional development.

Finally, many organizations require certified individuals to participate in continuing education. If you’re involved in training or succession planning, this may make it easier to meet your organization’s current or future needs.

¹Indeed data (US), November 2023-November 2024