My supervisor has asked whether or not I am interested in obtaining a professional designation. She gave me information on the following programs: CBA, CRCM, and CBCO. I was a S&S examiner with the FDIC for 10 years before joining my bank in April as a part-time compliance auditor. I have no idea whether or not these designations are worth anything in the real world or what type of preparation/study time they might require. Anyone have any insight or opinions? Thanks.

Disclosure, I am a CRCM. I am partial.

I can also tell you that more and more headhunters, banks and want ads are asking for a CRCM designation in an applicant. The numbers are growing. It isn't a gimme. You don't take a class and get certification. It is a broad test for a national certification. There are also a lot of examiners who are CRCMs.

More info on this program is at http://www.aba.com/ICBCertifications/default.htm

Me, too. The CBCO (BAI designation) was eliminated a few years ago in favor of the CRCM.

I believe CBA has more audit emphasis, but I also believe that it is on the numbers side of audit, not compliance.

I'll echo Andy's comments, disclosure included. One other tidbit - I just received a direct mail piece from BAI that's promoting their new Certified Risk Professional program. Like the CRCM, you sit for a national test - then you select a specialty in audit, finance/accounting, balance sheet risk, compliance, credit, or operations. It looks like it's tailored to your specific functional area.

Go to www.bai.org/crp for more details. I'd be giving this strong consideration, but I just obtained the CRCM last fall & I think another certification so soon would be a tough sell to management.

My former Supervisor felt that your certification is as only as good as the job you do, and did not place much merit on it. I went through ICBA and obtained the designation of Certified Community Bank Compliance Officer (CCBCO). It was a week long course covering Developing a Compliance Program, Operations, Deposit, and Lending Compliance. It was quite intense having to take tests on each. I can tell you that both sets of Regulators acknowledged the certification as well as our outsourced auditors. I find the hardest part of maintaing the certification is the continuing education requirements. All in all, I feel if I do go to another financial institution it will look good.

I am a CRCM, a CBA, and a CFSA. I had the opportunity to grandfather into the CRP program but couldn't justify spending the extra dollars that they wanted. As Al said, the CRCM program took over the CBCO program a few years back, so your CBCO information is definitely out of date. The CBA and the CFSA are definitely audit certifications and have very little compliance emphasis in the testing programs.

I too always wondered what those certifications would do for me. I currently have my CPA and everytime I get a headhunter call they always emphasize CPA, I have never had anyone ask for those other certifications. Therefore, I have questioned whether I would need those too!

The value of any certification depends on the audience you are playing to. If your corporate culture (not just your current boss) places a value on certain certifications, then there's value. Your other important audience, your regulator, may also factor certifications into the "management" rating assigned to your bank. Contact your agency's regional office and inquire.

I have my MBA (Masters in Finance), my CIA (Certified Internal Auditor), my CRCM (Certified Regulatory COmpliance Manager) and my CRP (Certified Risk Professional). I never regret getting any of them. Yes, they are a lot of work, and like Richard said, the value depends on your audience. Years, ago when I started in banking I had a boss who suggested that I get more education, and it became a personal thing for me. Later, when he was no longer my boss, he asked me why I continued with my education; after all he said he always thought I had enough after the Masters degree. My answer was that "I do it for me; once you have the education, it's yours." And, not only does it build confidence, look good on a resume, but examiners usually love it. Plus, it helps support why you budget for all those neat compliance courses going forward. I say go for it, but then I'm biased.