1. Chartered Financial Analyst (CFA)



The CFA program is a good option for those interested in a career in the Finance area. It has three levels (Level I, Level II and Level III). Youd need a lot of dedication as several hours of self-study would be needed to clear these tough levels. You can continue with your work-life while studying. The CFA website reports candidates dedicating over 300 hours of preparation for each of these levels. To complete all the levels, an average of four years is required. A CFA certification would surely give your finance career a boost if youre able to complete it.





CFA in India



CFA in India could earlier be awarded by ICFAI University or by the CFA Institute, USA. However, there was a dispute between the two over awarding CFA degree in India. Finally, a settlement was arrived at, in 2012, according to which ICFAI would stop issuing any further CFA certification except for those already registered with them. Those whove obtained their CFA through ICFAI would be required to use CFA (ICFAI).



So, in this post, wed limit our discussions to the international CFA degree offered by the CFA Institute, USA.





Pre-requisites for CFA



To be eligible for the first exam, youve to either have a bachelors degree or you may also attempt it while youre in the final year of your graduation. However, for moving on to level two, you should have completed your graduation and updated your education information.



The CFA fees include a one-time enrolment fee of $450 and an exam registration fee that varies on the time of registration, from $650 for early bird (March), $950 standard (August) and $1,380 for late registration (September), for each of the levels. The CFA level I is held twice a year in June and December, level II and level III are held once a year in June.





CFA career prospects



The career scope includes the various finance-related jobs in corporate finance, investment banking, portfolio management, equity research. This internationally-acclaimed degree can open doors of opportunities in finance and bring you a lot of credibility in the job market. The success rate is not too high (usually varying between 40%-45% for the first two levels and slightly over 50% for level 3) and the those who manage to get through have put in a whole lot of time and effort studying for it.





2. Financial Risk Manager (FRM) Exam



As the name suggests, this exam is for those professionals interested in a career in risk management. There are two levels involved: part I and part II. This is an internationally recognised certification exam offered by the Global Association of Risk Professionals(GARP).It is a multiple-choice exam held twice a year in November and May. The preparation time would depend a lot on your background-mainly your academic qualification and experience. The GARP website reports an average of 275 hours of preparation for part I exam.



The exam fee includes a one-time enrolment fee of $400 and an exam fee of $350 for early registration and $475 for standard registration for each of the exams.





Pre-requisites for FRM



Candidates who clear the Part I exam need to pass the FRM Part II within four years. They also need to have two years of relevant work experience. There is no educational/professional prerequisite while registering for the exam. However, you need to submit your resume with the required work experience within a period of five years after passing FRM Part II.





Career scope



Unlike the CFA that offers a wide array of careers in Finance, the FRM provides expertise in a specialised area (financial risk management). These professionals are expected to have expertise in the area of taking calculated risk as required in the finance sector mainly in investment banks, corporations or asset management firms.





3 Certified Information Systems Auditor (CISA)



The CISA certification is an internationally recognised one awarded by Information Systems Audit and Control Association (ISACA). The IT infrastructure for bigger organisations is a rapidly-growing area with almost every industry dependent on it. There is a growing demand for professionals who are expected to monitor the information technology and the business systems and processes of any organisation. This certification helps provides you the required skill and knowledge in this area.





Pre-requisites



After clearing the CISA exam, you need to fulfil the work experience eligibility inorder to qualify for the certification. This includes five years IT audit experience or you may avail waivers on the basis of some alternate work experience. You have a five years time after the passing date to meet this work experience criteria.



The CISA certification exam is held in three windows, each year  February to May, June to September, and October to January. Its a four hour exam with 150 multiple choice questions.





Career Scope



The scope of work of an IT auditor includes a variety of tasks including performing thorough audits of the companys information technology, managing information security, keeping systems updated and also keeping a tab on whether the IT operations are in compliance with the various regulatory standards.





4. Certification in Risk Management Assurance (CRMA)



This course is meant for internal auditors and risk management professionals. This certification is offered by the institute of internal auditors (IIA). This exam requires self- study by means of reference to various resources and does not have a fixed curriculum.





Pre-requisites



To be eligible for the exam, you must either be a graduate OR have two years post-secondary education with five years of internal audit experience OR seven years of internal audit experience. A duly signed character reference form also needs to be submitted.



The exams are held throughout the year at several locations globally at the various IIA-authorized Pearson VUE testing centers. The CRMA exams comprises of two sections  part I has 12