Certifications for CFO/VP Finance Positions at Late Stage of Career?

I never worked in public accounting either, but was able to get my CPA certification in Virginia where they primarily looked at my experience. I agree with Regis that although the certificate would be nice to have it should not refrain you to find a good job, especially if you have a good background.

There are advantages to have a CPA in certain public markets if your goal is the CFO seat. If the ads you're seeing (I'm guessing job posting are where you are seeing that requirement), then basically you're looking in the wrong market.

As Regis said, there are plenty of great jobs that don't require a CPA and your best bet for securing one of them is to plant your flag and claim your space in THOSE markets, rather than trying to compete for a position that already puts you at a big disadvantage by virtue of not having one of the minimum requirements.

That doesn't mean you can't compete - I've had clients who have successfully competed and won those jobs - but it has to be with strong value positioning and an equally strong network. The job boards will just cause you frustration.

I suggest that if you have the ability, time and inclination, obtain your CPA and/or CMA certification. I do not have a CPA and experienced considerable difficulty overcoming that "deficit" in my recent job hunt (2 years ago). Having said that, I eventually did land a job as a CFO through my networking efforts where people hired based on the quality of the conversations and my ability to sell myself prior to the piece of paper (resume) showing up on their desk. I was able to use the networking experience to deal with the CPA issue before the hiring manager was aware of the missing credential.

At the CFO (or VP Finance) level, one of the issues you will run into with smaller companies is that the hiring manager, (President, CEO or Owner), is unlikely to have an accounting or finance background and may be listening to his/her external CPA for advice. Since that adviser is a CPA, they will likely be biased toward hiring a CPA for the senior level position and the person doing the hiring will have the CPA designation as a "check the box" type of qualification.

On a final note, I have found that once in a position of responsibility, the lack of CPA designation has not been a hindrance in the performance of my duties. In many cases, I have found that it is imperative for me to check the work of external CPA's to ensure accuracy. For those non financial executives in this network, please take care when looking at potential candidates. There are so many other factors that are critical to success, including personality, general financial experience and industry experience.

VP Finance- I think it depends what companies you are targeting also. If you are pursuing a position at a public company, a CPA tag can give you additional credibility. If you are looking at smaller public or private companies, the CMA is probably more pertinent.
In either case, the fact that you are willing to learn additional skills, and expand your knowledge-base is a good indicator to prospective employers. Any additional education you are pursuing should be mentioned in the interview process.
Good luck!

While a lot of companies will have a minimum requirement of a CPA, do not let that deter you from trying. I have been CFO for 3 public companies and am now CFO for an private company that operates in all 50 states and 35 international companies without a CFO. The key as David mentioned is being able to sell yourself. Spend a lot of time on your resume, you have to make sure it sell your accomplishments and abilities. I have always tailored each resume to the specific job. This is much like when you are looking for your first job out of college, companies focus on your GPA, once you have experience that is what you have to sell. It is beneficial at times to work with an outside consultant to help review and design your resume. I generally approach this as I would a bank proposal, I have created a powerpoint presentation about myself. This allows me to eliminate timelines and sell my assets. I will have a page on bank financing, listing all the banks I have worked with. A page on industries, Space acquisition, Accounting firms and law firms I have worked with. Then put the resume at the end. Because it unusual this attracts attention. This allows you to take control of the sales process, people have told me this has helped them check off the items they are interested in . Most companies never realize I do not have a CPA. Then when I get in the interview I use the PowerPoint to continually bring the person back to my strengths.

I will offer that unless there is as recent change in their requirements, the State of Maryland only requires passing the CPA exam as well as an Ethics exam to qualify for a license. No experience necessary. Also, the other credential that is recently being bandied about is the CGMA (Chartered Global Management Accountant). This can be obtained by possessing a CPA and becoming a member of the AICPA and paying the extra fee for this certification. The credential is issued jointly by CIMA (Chartered Institute of Management Accountants) and the AICPA and appears to be along the same lines as a CMA. Since it is relatively new, there may be a question as to it's value.

Good luck.

Look up HP's CFO - no CPA, w/ a Bachelor's Degree in Biology. Oh, wait a minute, maybe that's why HP is in trouble! LOL

You do not need a CPA to move ahead in your career. As mentioned up top companies are looking for operational experience and having the CFO as a strategic partner. The pendulum swung to CPA requirements during SOX but now that this has blown over this is not as essential. In my CFO jobs accounting was a very small part of my duties and value add (5% or less). Many CEOs and HR folks don't really understand what a CFO does and will put that requirement in as they think it is needed.

You need to network and learn how to sell your skills which would be a more valuable use of your time.

Bear in mind that there is more to becoming a CPA than "getting the certificate." All of the 50 states have different education and experience requirements for becoming a CPA. All of the requirements must be documented in writing and submitted for approval to the State Board of Accountancy of the individual state in which you are applying before becoming licensed. You must actually sit for and pass the 4-part CPA exam, which requires advance preparation. Once you pass the exam and become licensed, there are additional issues with which you must deal. If you want to maintain your hard-won registration status as ACTIVE, there are annual continuing education requirements to be met. You must also agree to abide by the profession's code of ethics, and are subject to the profession's oversight and rules. To get the most benefit out of becoming a CPA, you really need to join your state's society of CPAs, the AICPA, and possibly look into becoming a CGMA, which another poster mentioned. (This is not difficult once you are a CPA and a member of the AICPA.)

"Becoming a CPA" is a decision that must be entered into with eyes wide open, and with knowledge of what you are getting yourself into. There is a time commitment involved, so "getting a CPA" just to "get a job" will not happen over night, or even in a year, most likely. I am not arguing against becoming a CPA -- it's one of the best things I ever did -- just know what you're doing before heading off in that direction. The best resource for what's required to become a CPA in your state is that state's Board of Accountancy -- you can probably find it on your state's .gov home page. Best wishes for success!

I find the CPA or not debate goes company by company and their individual hiring practices - especially in the early screening phases when HR is overseeing the process.

Where a CPA seems to matter is for companies who face public reporting and require SOX, etc. - the CPA is an early 'screen in' for risk management simply because the company will likely see the CPA as an indicator of on-going investment into their accounting skills. To be clear, a CPA needs to be active to be relevant.

There CFOs on both sides of the fence of this argument - so it does come down to looking at the company's needs, how it views finance, the CEO style, etc. to determine whether or not you have a shot at their CFO position.

Hope this helps.

Mark