AFP and Department of Veterans Affairs Join Forces to Advance Careers in Corporate Treasury

 Veterans Eligible for Reimbursement of Certified Treasury Professional (CTP) Test Fees

June 16, 2005 - Bethesda, MD - As part of an ongoing effort to support the advancement and education of financial professionals, the Association for Financial Professionals today announced the Department of Veterans Affairs will immediately begin worldwide reimbursement for the cost of taking the test leading to the Certified Treasury Professional (CTP) to eligible veterans and dependents.

In the financial sector, the Certified Treasury Professional (CTP) designation is the mark of highly skilled professionals who are serious about their profession, who are an asset to their organization and who meet the high standards of an internationally recognized organization.

“My expectation is that my staff performs at the highest professional standard. For staff seeking upward mobility, I strongly recommend the CTP to both acquire and hone their technical skills. When recruiting management staff, I now include 'CTP Highly Desirable' in the job specification. I have noticed an increasing number of private and public organizations also recruiting professionals with the CTP certification.” said Joya C. De Foor, CTP, Treasurer, City of Los Angeles.

Today’s financial professional in corporate treasury is the person who makes sure that a company has enough capital on hand to sustain its operations. The role is a bit of a paradox: It isn't operational, but corporate treasury can impact a company's operations. It isn't accounting, but these professionals are deeply knowledgeable about the balance sheet and often provide the data that auditors rely on and the information that senior executive have to sign-off on. It isn't risk management, but corporate treasury is often the first to spot potential financial risks.

Cash flow is more than the stream of available cash to fund operations. It's also an important indicator of corporate health. In fact, there's a growing piece of wisdom among equity analysts that cash flow is the very best indicator of corporate health. More than assets, the very best way to tell if a company is viable, analysts say, is by looking at the money a company has in the bank.

With increasing awareness of recent improprieties, we know it is possible to manage a company's earnings. But there is no way to hide the cash flow. For this reason people involved in corporate treasury are vital to their organizations. To be reimbursed for fees associated with the CTP exam, a veteran should apply and send a copy of his/her test results to the VA office that handles their benefits. The reimbursement is worldwide in scope and is available to eligible personnel regardless of their location.

The Veterans Administration will pay for the cost of the test but not other fees connected with obtaining this certification. To obtain further information about how to be reimbursed visit the VA’s Internet site at www.gibill.va.gov/education/inquiry.htm or by calling 888-442-4551.

For information about obtaining the CTP credential or careers in finance, visit http://www.afponline.org/pub/cert/value.html or call AFP Member Services at 301-907-2862.

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The Association for Financial Professionals in Bethesda, Maryland, supports more than 14,000 individual members from a wide range of industries throughout all stages of their careers in various aspects of treasury and financial management. AFP is the preferred resource for financial professionals for continuing education, financial tools and publications, career development, certifications, research, representation to legislators and regulators, and the development of industry standards. For more information, visit http://www.AFPonline.org.