IFA Introduces Account Executive Certification Program
The International Factoring Association announced that it launched a professional certification program for account executives involved in factoring and receivables-based finance. It is the first certification program of its kind for the receivable-based finance industry, and those who complete it will receive the Certified Factoring Account Executive designation.
Certification applicants must sit for a 100-question exam that will be administered in over 375 locations across the United States and Canada. The IFA Account Executive Certification exam measures a candidate’s competency and skill in the factoring profession. The competencies, skills and the weight each should receive in the exam were determined by a dozen industry professionals nationwide, assisted by credentialing experts hired by the IFA.
“We’re very excited to be rolling out the first certification program,” said Bert Goldberg, IFA executive director. “Having a way to measure an individual’s knowledge base and skills will have a positive impact on the industry as a whole.”
In order to achieve formal accreditation, volunteer Subject Matter Experts (SME) spent a considerable amount of time defining the knowledge base, outlining multiple subjects and categories and developing a job analysis that encompasses core competencies for the account executive role. The SMEs included a mix of traditional and non-traditional practitioners.
“We were fortunate to have some of the most respected names in the industry as SMEs,” Goldberg continued. “They worked hard over multiple sessions and gave up their valuable free time to help the Association.”
To pass the test an individual must be able to demonstrate that they possess, at a minimum, a basic level of competency among the subjects included in the exam. There are no academic qualifications required but each candidate must have a minimum of two years of job-related experience, adhere to the IFA’s code of ethics and receive a passing grade.
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Pismo Beach, CA-based IFA is the largest association of commercial finance companies in the world. Members include factoring companies, asset-based lenders and other receivables finance companies.