What Is a Certified Treasury Professional (CTP)?
The time frame certified treasury professional (CTP) refers to a financial designation awarded to oldsters professional in cash keep watch over and who pass an exam demonstrating their enjoy by means of the Association for Financial Pros (AFP). Successful applicants earn the best to use the CTP designation with their names for three years, which is in a position to make stronger activity possible choices, professional popularity, and pay. CTPs art work in various different fields along with treasury keep watch over, finance, and accounting.
Key Takeaways
- The certified treasury professional designation is awarded to oldsters professional in cash keep watch over.
- Folks must pass an exam demonstrating their enjoy by means of the Association for Financial Pros.
- Those with the designation tend to earn higher incomes, have greater activity protection, and are upper able to market themselves inside the business.
- The CTP designation is excellent for three years and requires recertification.
Understanding a Certified Treasury Professional (CTP)
As mentioned above, the certified treasury professional (CTP) designation is given to financial professionals who meet certain requirements by means of the Association for Financial Pros. Folks must have between one to two years of work experience in cash or treasury keep watch over or corporate finance within the tournament that they want to take the exam. Those who should not have similar art work experience must each have a graduate level in business, finance, or accounting, or similar instructing experience at the college or school stage.
Applicants must put up proof of their eligibility quicker than they can take the exam to transform a CTP. Data of their art work experience and academic {{qualifications}} must be submitted to the AFP prior to taking the exam. The certification committee throughout the association reviews and determines whether or not or no longer or not an applicant is qualified to take the exam.
The CTP exam is closed-book and consists of 170 multiple-choice questions that can be completed on a computer. Applicants are given 4 hours to complete the test. The exam is divided into 5 categories:
- Treasury operations and controls: 21 to 24 questions
- Operating capital keep watch over: 32 to 35 questions
- Cash and liquidity keep watch over: 37 to 42 questions
- Capital markets and funding: 22 to 24 questions
- Corporate treasury function: 30 to 35 questions
AFP individuals pay a charge of $925 for the exam within the tournament that they check in early. The fee jumps by means of an extra $100 within the tournament that they check in in all places the entire last date period. Non-members may additionally practice for the exam alternatively the fees are higher—$1,320 for early registration and $1,420 by means of the entire last date.
An Association for Financial Pros membership costs $495 and is excellent for a 12-month period.
The CTP designation is considered a benchmark inside the financial profession. CTPs can earn more money than their buddies—as much as 13% more than those who don’t seem to be certified as CTPs. Moreover they’ve greater activity protection and are upper able to market themselves inside the business. Successful CTPs in most cases have a background in finance and/or accounting, and transform pros in treasury keep watch over. They’ll need to understand profits collection, prison duty price, cash processing, reconciliation, managing provide accounts, maintaining documentation, monitoring transactions, forecasting, and monitoring cash drift, receiving and processing cord transfers, analyzing financial statements, and further.
Explicit Problems
Some universities offer training how you can organize would-be applicants for the exam. The curriculum would most likely function to turn the candidates working capital strategies for managing liabilities and assets, how you can optimize capital development, and how you can take care of an organization’s liquidity to meet their longer term tasks. They may additionally learn to observe and keep an eye on a company’s exposure to doable financial and operational risks. Such classes would most likely include real-life case know about scenarios for students to make use of their growing knowledge.
The CTP designation is used as a sign of credibility among corporate treasurers and other professionals inside the financial sector. The designation is excellent for three years, after which the individual must recertify. So as to keep the CTP designation, people must complete 36 hours of constant coaching referred to as recertification credit score and pay a charge to continue using the designation. Candidates don’t wish to wait until their designation expires so as to recertify—the 36 hours can also be completed and reported at any time.
