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AFP Press Release

AFP Develops First Certification in Corporate FP&A

New credential fills need for forecasting, budgeting, scenario planning standards; follows success of AFP’s Certified Treasury Professional TM credential.


WASHINGTON, DC – February 7, 2012 – The Association for Financial Professionals (AFP), the professional society for treasury and finance, is pleased to announce the development of the first certification for the corporate financial planning and analysis (FP&A) profession.   

Serving professionals who perform FP&A work on behalf of organizations, the new certification will follow the model of AFP’s successful Certified Treasury Professional TM designation     (CTP TM), which has been earned by more than 23,000 people worldwide.  As with the CTP TM credential, the new FP&A credential will be based upon a comprehensive, multi-source body of knowledge compiled by top corporate practitioners and updated when necessary.  AFP will serve as sponsor and facilitator on behalf of the profession. 

The FP&A profession is growing quickly, one of the most sought after areas of expertise by CFOs. Executive recruiter Korn/Ferry International in a recent report noted that within the finance area, “The hottest position today is financial planning and analysis." 

Worldwide financial and economic uncertainty makes the FP&A function all the more critical.  “If accounting is the interpretation of past events and treasury is optimizing the present, then I like to think of FP&A as preparing a company financially for the future,” said Jim Kaitz, AFP’s president & CEO.  

By standardizing global performance competencies, AFP believes that FP&A professionals who earn the certification will be recognized for their understanding of complex processes, tools and best practices, and therefore well-positioned to drive strategic business decisions at companies, no matter where they are located.  In addition to passing a rigorous exam, candidates may be required to meet certain education and experience requirements.   

For an in-depth analysis of the FP&A job function, AFP initially convened subject matter experts from Microsoft, AT&T, World Fuel Services, The Cheesecake Factory, Hunter Douglas Fabrication, Convergys Corp. and SPT, Inc., among many other companies.  Next, AFP will survey a large, global group of FP&A practitioners about the importance and frequency of the tasks they perform and the specific knowledge and skills they use on the job, finally working with a wide range of practitioners to produce the exam and the ongoing training that FP&A professionals will need in order to perform their jobs competently.  

Further details about the credential will be announced at the AFP Annual Conference in Miami this October. FP&A professionals who wish to provide their expertise or participate in the survey phase of the credential’s development should contact FP&A@afponline.org or visit www.afponline.org/FPA  

About AFP®
The Association for Financial Professionals (AFP) serves a network of more than 16,000 members with news, research, treasury certification programs, networking events, financial analytical tools, training, and public policy representation to legislators and regulators. AFP's global reach extends to over 150,000 treasury and financial professionals worldwide, including AFP of Canada; London-based gtnews, an on-line resource for the treasury and finance community; and bobsguide, a financial IT solutions network. 
 

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