Professionals in the finance world often earn certification at the start of their careers. This is an important step in finding a workplace or career path in the field, as most professionals choose to specialize in one area of the financial field. Recertification, then, is integral to keeping the qualification that has made so many professionals successful; one of the requirements for qualification to stay in good standing is continuing education. Here is a brief rundown on what recertification is, why it’s important, and how the process works.
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Recertification and Importance
Recertification is the process in which a professional will be eligible to keep their current qualification status. It is enacted by most financial certification associations and councils to ensure that all the professionals credentialed by them keep to a high standard of knowledge and ethics in the financial community. Most qualifications will require professionals to recertify every two to three years for the duration of their career; professionals are encouraged to check the need for recertification for their qualification prior to sitting for the exam.
Process
There are generally three steps that will enable a professional to earn recertification. The first is a recertification application fee, which varies depending on the entity providing the qualification. The second is an application that mirrors the initial application they completed to earn the qualification; the only difference is that if an application is reviewed and the applicant is found to be in violation of the voluntary adherence to the codes of standard for that entity, their qualification may be revoked and their status will be one of disqualification. The third and final step is the completion of the continuing education, known as CE, requirements; this is completed on a professional’s own time and must be recorded with the entity prior to the expiration date of their qualification.
CE Options
CE options vary depending on the qualification and the association that confers it. Some possible continuing education options include university courses, graduate or post-graduate certificates, attendance at an eligible conference, workshops, and employer-run education programs. Professionals with certain qualifications may find that earning an endorsement in an unrelated field to the financial sector will earn them CE credits as well. However, CE options for all certifications are not equal; therefore, it is important that a professional check with their association to see what options are available to them.
Incorporating Education into a Lifestyle
Because consistent education is important to be recertified as a finance professional, working adults will need to find ways to incorporate courses and classes into their lifestyle. While it can be difficult to find a balance between home life, work life and taking classes, there may be some ways to make it easier. For example, several universities offer post-graduate certificates in several areas relating to the financial field; this enables professionals to get the credits they need for recertification. These certificates are generally offered online, meaning on-campus visits are rarely required. Another option may be for a professional to complete courses offered by their employers; major corporations often provide their employees with workshops and conference opportunities, both of which can be used for credit towards recertification.
There are over ten different types of certifications available to those who work in the financial sector, making it possible for just about anyone to receive this qualification. Investopedia has published a great list of the most popular to make it easy for professionals to find the qualification that would help them the most in their career. It is strongly encouraged that anyone interested in finance, that is considering earning certification, understands the requirements for recertification and plan to take additional education courses and workshops as part of their career responsibilities.
