I recently came across a very interesting and relevant discussion on the topic of a financial modelling certification between some of the elite of the financial modelling world – and thought “how appropriate” – given our recent introduction of a certification program – so decided to share it with our readers.
The participants were Lance Rubin (Model Citizn), Danielle Stein Fairhurst (Plum Solutions) and Mohamed. In view of the length of the article, I have taken the liberty of editing it, for which I seek forgiveness from Lance and Danielle.
Fundamentally the article lists the advantages, benefits and various considerations applicable to completing a formal, accredited financial modelling certification program.
These include:
- the practical modelling skills you will learn that can be actually applied to your work.
- the mode of delivery and assessment the best suits the course objectives
- the method and length of preparation
- the cost
- the standing of the program in the industry
- the limitations of the training
The article centres around the two most prominent certification programs, namely the FMI (Financial Modelling Institute) and CFI (Corporate Finance Institute) – both of which are widely known and acknowledged by the international financial modelling community.
The conclusions reached are:
- Each of these qualification are certainly valuable and well-regarded by employers, but each offers something different to the candidate, and you really need to take into account the style of learning that suits you best, and which will give you the most benefit for the time invested.
- If you are going to take financial modelling seriously in your career or perhaps as part of an extension to services that you provide or wanting to provide as a new business then you should absolutely invest in some form of formal training.
- Whether you take that next step and get certified through either the CFI or FMI is really a personal preference, but it will stand you in good stead in the future.
- Both accreditations will provide value to those that are looking to improve their financial modelling skills and provide you with additional confidence in tackling those difficult what-if questions that you get asked that is often best solved with a financial model.
- During and post this pandemic the demand for navigating business uncertainty focused on cash flow is only going to increase and therefore getting yourself up the curve in this sector
will pay off in the long term.
Goalfix is the only FMI approved financial modelling training provider in South Africa and has fully aligned our Financial Modelling Fundamentals course with the syllabus for the FMI Level 1 – Advanced Financial Modelling certification.
Additionally, to demonstrate our total commitment to the concept and practice of financial modelling in South Africa, and our belief in the benefits of a formal modelling certification, we have introduced our own Certification Program to meet the needs of aspiring South Africa modellers.
See: https://www.goalfix.co.za/financial-modelling-certification-program/
For additional information, please contact Colin Human – [email protected] or call +27 82 888 1900
Finally, I would like to add my congratulations and appreciation to Lance, Danielle and Mohamed for advancing the practice of financial modelling toward a formal professional qualification, which in my humble opinion is long overdue.
For those who wish to read the complete article, here is a link: https://www.linkedin.com/pulse/getting-financial-modelling-qualification-lance-rubin/
Regards to all,
Colin Human CA(SA)
Goalfix Financial Modellers
