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Welcome (back) to Corporate Treasury 101! Since this is not your first time here, you will probably want to read our free eBook to understand what Corporate Treasury is, and what Treasury departments are responsible for! Click here to download it for free! 🙂
A treasury qualification or certification is a professional credential that represents specialised knowledge and skills in managing an organisation’s finances, especially cash flow and liquidity. It’s a stamp of expertise that shows you’re trained to navigate the complex world of corporate treasury. By earning a treasury qualification, you validate your ability to handle critical financial responsibilities, from daily cash management to strategic risk assessment.
In this article, we will explore the significance of treasury qualifications, their practical applications, why they are important, the main providers of treasury qualifications, and a comprehensive overview of the certifications available by these providers.
So, let’s begin our exploration of treasury qualification and discover how it can be a game-changer in your finance career.
Table of Contents
What a Treasury Qualification Is Used For?
You use a treasury qualification to demonstrate your grasp of financial management principles and your readiness to apply them in real-world scenarios. It’s instrumental in managing an organisation’s assets, ensuring financial stability, and planning for long-term financial health. A certification like this often becomes a key factor in securing advanced roles within treasury departments, enhancing your credibility and opening doors to career advancement.
Why Is a Treasury Qualification Important?
Earning a treasury certification is crucial because it distinguishes you in a competitive field. It shows employers your dedication to professional growth and commitment to the highest financial management standards.
In an era of financial complexities, having a certification equips you to face new challenges confidently and contributes to the overall integrity and efficiency of the financial sector.
We recorded an episode explaining exactly that, you can have a go at it here.
What People Can Get from It?
From a treasury certification, you gain a robust set of skills immediately applicable to your career. You can expect increased job opportunities, higher earning potential, and the respect of peers and superiors.
More than that, you join a network of professionals, gaining access to industry insights and trends that keep you ahead in the field. It’s an investment in your professional future, ensuring you remain relevant and valuable in a dynamic corporate landscape.
The Main Providers of Treasury Qualifications
The Association for Financial Professionals (AFP) and the Association of Corporate Treasurers (ACT) are the leading bodies offering Treasury qualifications. Here are their details.
Association for Financial Professionals (AFP)
The Association for Financial Professionals (AFP) leads in finance professional development, offering the Certified Treasury Professional (CTP) and Certified Corporate Financial Planning & Analysis Professional (FPAC) certifications. These credentials sharpen your skills and prime you for future career milestones.
AFP is your lifelong learning partner, delivering training, guides, and insights to boost your finance career. It builds a learning community through events, virtual discussions, and online resources, enhancing your professional network and growth.
It als shapes finance and treasury’s future by honing current professionals and nurturing emerging leaders. Its globally recognised programs and premier corporate finance events set industry excellence standards.
With AFP’s certifications and tools, you’ll elevate your job performance and position yourself for career progression. AFP’s dedication to member growth provides a clear route for skill enhancement and significant organisational impact.
Association of Corporate Treasurers (ACT)
The Association of Corporate Treasurers (ACT) sets the standard in treasury with its robust qualification programs. As you seek expertise in treasury management, ACT’s offerings, like the CertICM, arm you with critical international Cash Management skills.
Starting with the Certificate in Treasury Fundamentals, ACT nurtures finance professionals, building upon essential treasury principles. The Certificate in Treasury elevates this knowledge with advanced technical insights. For those aiming higher, the Diploma in Treasury Management and the Advanced Diploma offer strategic expertise for senior treasury roles.
Specialised qualifications, such as the AwardICM and CertICM, hone global cash and liquidity management skills. In England, ACT’s apprenticeships under the National Apprenticeships Scheme offer a practical route into finance, aligning with the Financial Services Professional Standard.
All ACT programs align with its Competency Framework, ensuring practicality and excellence. Earning these treasury qualifications allows you to append designatory letters to your name, marking professional recognition.
ACT membership is a pledge to uphold treasury excellence, providing a wealth of resources to elevate your capabilities. ACT Learning delivers these globally acknowledged treasury qualification, endorsed by industry leaders, which signify a commitment to your and your employer’s growth in driving global finance and trade.
Overview Of All the Certifications Available
Here is a comprehensive overview of the certifications available from both the Association for Financial Professionals (AFP) and the Association of Corporate Treasurers (ACT):
The Certified Treasury Professional (CTP)
The Certified Treasury Professional (CTP), awarded by the Association for Financial Professionals (AFP) in the US, is a leading credential for treasury and finance professionals. Requiring 6 to 12 months of study, the CTP curriculum encompasses treasury management roles, regulatory environments, risk management, and cash flow forecasting, offering a solid foundation in payment systems and capital markets.
To earn the CTP, you must pass a 170-question exam within 210 minutes. The cost is USD 1,645, with an additional USD 960 for optional exam prep. Eligibility depends on your experience and background in finance.
While US-centered, the CTP is renowned in North America as a cost-effective way to advance in corporate treasury or transaction banking. The AFP and Treasury Certification offer extensive resources, including personalised support and an Exam Prep Platform, to aid your exam readiness. Achieving the CTP validates your expertise and can propel your finance career forward in the US market.
The Award in International Cash Management (AwardICM)
The Award in International Cash Management (AwardICM) from the Association of Corporate Treasurers (ACT) equips you with the skills to manage cash globally. This UK-based program, conducted in English, comprises three core units: introducing international cash management, exploring cash management strategies, and focusing on international cash reporting and compliance.
You’ll face a 90-minute exam featuring 75 multiple-choice questions. Completion is achievable within 3 to 6 months, costing USD 1,900.00. There are no set prerequisites, opening doors for a wide audience. Accountants with ACCA, CIMA, ICAS, or ICAEW credentials may receive exemptions.
Securing the AwardICM credential paves the way for the more advanced CertICM. It serves as a primer, furnishing foundational insights that the CertICM builds upon. If you’re drawn to the intricate world of international cash management, the AwardICM validates your interest and prepares you for the in-depth journey that CertICM offers.
The Certificate in International Cash Management (CertICM)
The Certificate in International Cash Management (CertICM) is your advanced stepping stone into global cash management, curated by the Association of Corporate Treasurers (ACT). This UK-based program, delivered in English, dives into six comprehensive units, including bank roles in ICM, liquidity, tools, risk management, and the impact of accounting and regulations.
To obtain the CertICM, prepare for a 120-minute exam with 60 multiple-choice and four in-depth written questions. It takes 6 to 12 months to complete for USD 3,700.00. Eligibility hinges on having the AwardICM, relevant work experience, specific accounting qualifications, a degree from an ACT-accredited university, or certifications like CFA or CTP.
In 2021, the CertICM dropped its residential week, adjusting to a more globally accessible format and easing the examination focus towards multiple-choice questions. This certification is essential for those in treasury and transaction banking, providing a global viewpoint and a prestigious credential in finance.
The Certificate in Treasury Fundamentals (CertTF)
The Certificate in Treasury Fundamentals (CertTF) from the Association of Corporate Treasurers (ACT) serves as your gateway into the treasury profession. It covers the financial world’s basics, treasury operations, and an insight into financial markets.
To earn the CertTF, you’ll face a 90-minute exam with 75 multiple-choice questions. You can complete this course within 3 to 6 months for USD 1,175.00. No prerequisites are needed to start.
If you have three years in treasury, certain qualifications, or a relevant MBA, you might qualify for exemptions. Achieving the CertTF certifies your foundational knowledge in treasury.
Ideal for those with a business, finance, or accounting background, it paves your way to a corporate treasury career. ACT’s support includes webinars, practice tests, and personal tutoring, setting you up for success and future growth in corporate treasury.
The Certificate in Treasury (CertT)
The Certificate in Treasury (CertT) by the Association of Corporate Treasurers (ACT) in the UK hones your treasury skills across five critical areas: treasury’s role, cash management, corporate finance, treasury technology, plus governance and financial risk management. The assessment includes five 120-minute tests, blending multiple-choice and extended-response questions.
The CertT journey lasts 6 to 12 months and costs USD 4,185.00. It suits those with CertTF or CertICM credentials, relevant experience, or related academic backgrounds. You need at least three years in treasury or a relevant degree plus experience to start.
This certification is perfect if you’re versed in treasury basics but aren’t ready for the strategic depth of the AMCT diploma. It zeroes in on technical treasury management aspects.
ACT provides a robust support network, from webinars to personalised tutoring. The CertT marks a key step for treasury professionals aiming to perfect foundational skills before pursuing strategic roles.
The Diploma in Treasury Management (AMCT)
The Diploma in Treasury Management (AMCT), offered by the UK’s Association of Corporate Treasurers (ACT), is an internationally esteemed program that sets a worldwide standard in treasury expertise. Over 12 to 18 months, you’ll cover corporate finance, risk management, the treasury role, plus electives like financial reporting and trade finance. Assessments involve two three-hour case study exams and practical assignments.
To enrol, you need the CertT, CertITM, seven years in treasury, or a CFA Charter, with some qualifications like CIMA offering unit exemptions. At USD 4,700.00, passing the AMCT grants you the title of Associate Member of the ACT, boosting your credentials. This certification confirms deep treasury knowledge, often required for senior positions.
The ACT supports your journey with webinars and guides, while Treasury Certification provides personalised tuition and trainer access. The AMCT is a critical step for treasury professionals aiming for leadership roles, enriching their career path globally.
The Advanced Diploma in Treasury Management (MCT)
The Advanced Diploma in Treasury Management (MCT), offered by the UK’s Association of Corporate Treasurers (ACT), is a top-tier qualification for finance professionals targeting leadership roles like CFO. The 12 to 15-month program delves into treasury management and leadership, culminating in two four-hour exams and a dissertation to demonstrate deep understanding.
Admission requires the AMCT or 10 years of relevant experience, with certain qualifications like CertITM or IACT’s Graduate Certificate as alternatives. Without exceptions for any level, the course costs USD 15,500.00.
Successful candidates earn Full Member status with the ACT, marking a significant career milestone. The MCT distinguishes an individual’s strategic expertise in treasury, positioning them for upper-level management. It’s considered an MBA equivalent in treasury, readying you for strategic leadership in finance globally.
The Register Treasurer (RT) certification
The Vrije Universiteit Amsterdam presents the Register Treasurer (RT) certification, a postgraduate executive course specialising in Treasury Management and Corporate Finance. Designed for finance professionals, this English-taught, 15-month program sharpens expertise in three key areas: Corporate Financial Risk Management, Cash and Treasury Operations, and Corporate Finance and valuation. Each module ends with exams, case studies, and a requirement to publish two academic papers.
You must hold a Master’s in Economics or Business Administration and three years of relevant experience to enrol. The program costs USD 22,500, with no exemptions for any course component. Earning the RT title signifies a commitment equivalent to a Master’s or MBA and is highly regarded in the Netherlands, though its international recognition may vary.
With mandatory attendance in the Netherlands, the RT program suits local professionals seeking advanced qualifications. It’s a substantial investment but stands as a mark of excellence in the Dutch treasury landscape.
The Australian Corporate Treasury Association (ACTA)
The Australian Corporate Treasury Association, in collaboration with Macquarie Business School, offers the Certificate in Corporate Treasury (CCTA), a premier certification for treasury professionals in Australia. This 12-month program equips you with a deep understanding of corporate treasury management across two units. Unit 1 covers the essentials, including the treasury’s role, operations, funding, risk management, and financial planning. Unit 2 expands on these concepts with advanced topics like treasury systems, accounting impacts, and strategic financial management.
With a hands-on simulation assessment concluding each unit, the CCTA ensures practical skill application. Invest USD 2,750 for Unit 1 and USD 3,000 for Unit 2, with open enrollment for all professionals. Upon completion, earn the Certified Member of the ACTA title and distinguish yourself in Australia’s treasury field. Since its 2021 inception, the CCTA has set a benchmark for industry expertise, with full availability from mid-2022.
In conclusion, a treasury qualification is a valuable asset in finance. It signifies expertise in managing finances, particularly cash flow and liquidity. This credential opens doors to advanced roles and shows your commitment to professional growth.
By earning such a qualification, you validate your ability to handle financial responsibilities, from daily cash management to strategic risk assessment. It equips you with practical skills and knowledge for increased job opportunities, higher earnings, and peer respect.
The main providers, AFP and ACT, offer certifications for various expertise levels and career goals. These certifications enhance skills and provide professional connections and insights. So, Whether you choose AFP or ACT, these certifications are a worthwhile investment in your professional future, ensuring your continued relevance in corporate finance. If you are interested, here are the top 6 ACT treasury qualifications for you.
What are the qualifications for a treasurer?
Treasurers typically hold bachelor’s degrees in finance, accounting, or a related field. They often pursue advanced certifications like the Certified Treasury Professional (CTP) or other relevant qualifications. Relevant work experience in finance is also crucial.
What is a treasury certificate?
A treasury certificate is a professional credential signifying expertise in treasury management. It demonstrates a solid understanding of financial principles and is often earned through programs offered by organizations like the Association for Financial Professionals (AFP) or the Association of Corporate Treasurers (ACT)
Which certification is best for the treasury?
The choice of certification depends on your career goals and location. In the United States, the Certified Treasury Professional (CTP) offered by the Association for Financial Professionals (AFP) is highly regarded. In the UK, qualifications from the Association of Corporate Treasurers (ACT) are widely recognized. The best certification varies based on your specific needs and location.
What skills are required for treasury?
Treasury professionals need skills in financial analysis, risk management, cash flow forecasting, and financial instruments. Strong communication, problem-solving, and analytical skills are also essential for effective treasury management.
What is the difference between the accounting and treasury department?
The accounting department primarily records financial transactions, prepares statements, and ensures accounting compliance. The treasury department specializes in managing an organization’s finances, including cash flow, liquidity, risk management, and financial planning. Both departments are vital for financial health, serving distinct functions within an organization.
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