There are adhoc functions held primarily by PFM active members based on professional contribution through appointment by IFMI Chairman or Head of Berau.

  1. Contributors – Highly knowledgeable individuals with the willingness to research and explore new methodologies and techniques and develop them into study format.
  2. Trainers – Eligible trainers are appointed by CERT Bureau based on recommendation from Licensed Training Provider to deliver On Site (offline) training program in specific country(ies). All trainers must be approved by IFMI.
  3. Examiners/Graders – Persons assigned with tasks of grading practice examination results.
  4. Ethical Committee – Consists of Active Members with interest in compliance and professional integrity. Main task is to investigate and conduct judgment process on possible member ethical issue and violation to IFMI standards.

 

PFM Curriculum is based on Body of Knowledge (BOK) which is divided into 6 main Sections, namely:

  • Accounts and Reports Used for Financial Model
  • Forecasting Techniques and Assumptions
  • Financial Projection
  • Valuation Methodologies
  • Financial Model Sustainability and Risk Analysis
  • Project Financial Model

The BOK is further organized into sub topics called Detailed Outline Subtopic (DOS). Each DOS covers specific subtopic which is then expounded into PFM Program Module. The number of DOS keeps on expanding. DOS is the basis for content in the module and what participant can expect in PFM Exam.

PFM Program Module is standardized and updated from time to time. Only IFMI can publish and update the Module. Class delivery by training providers may not deviate from the Module.

Training providers may develop presentation materials (slides, etc) for their own purpose.

PFM Program is international designation, meaning the holders may use the Designation in any country without restriction. IFMI currently undergoes internationally recognized accreditation process based on ISO 17024 to ensure that the whole process conducted is in accordance with global standard set for certification body.

When you already obtain PFM Designation and remain active member, your basic profile along with your designation is searchable in PFM Website in Member Search section. That means anyone can verify the validity of your designation and understand that you already have the competence as required in order to attain the designation.

The structure of PFM certification program and process is developed based on ISO 17024 to ensure the adherence with global standard for professional education. The adherence to internationally accepted standard is designed to ensure the impartiality and fairness of certification process. That causes your PFM Designation to become a trustful hallmark of your personal competence in the eyes of clients and employers. Such trust will enhance your personal equity and help propel your career. To enhance the credibility further, IFMI is currently preparing for accreditation process by reputable accreditation institution.

In order to adhere to ISO 17024 standard, designation holder must conduct recertification periodically to keep the his/her knowledge update. In PFM, the process is called Continuous Competency Initiative which will be conducted every 2 years. Since the infrastructure is still being developed, CCI has not been implemented (still on grace period). Once the system is fully developed, the CCI will be implemented. But in PFM Program, CCI is being designed to require minimal effort with cost as low as possible with options such as watching recommended webinars.

No. PFM Program only discusses about pure financial modeling knowledge without discussion on the use of programming languages used in models. Why? Because financial model itself is already an intricate subject to master. Learning programming language is another subject which is not easy as well and cannot be well covered in limited time. The language used also keeps on changing. Devoting learning time on programming languages will easily divert attention from the the more important core curriculum. If a Candidate needs programming knowledge, tt is suggested that Candidate takes separate training class dedicated only to learn about programming languages.

In many jurisdictions, the establishment of professional certification program must ensure the adherence to local occupation standard in order to obtain local government recognition or permission. This may cause the program to become irrelevant in other countries. To avoid government intervention, IFMI is structured as web based global organization. To ensure legality of the program, the body is legalized in jurisdiction where Licensed Training Provider is domiciled.

In order to attend onsite class, participant needs to have basic understanding about accounting and finance and have good familiarity with Microsoft Excel, Open Office or similar software. Participant is NOT required to have education or professional experience in financial modeling or finance.
Participant need to have Bachelor degree or in final years of taking undergraduate program. Participant who does not have bachelor degree or not taking undergraduate program may be eligible to obtain PDM Designation as long as the participant minimally has 4 years of working experience.

IFMI is a not-profit global organization. In each country or region where PFM program is available onsite, IFMI appoints Training Providers which can deliver onsite class and prepare the venue and environment needed for the Examination. All Examination problems, grading process and membership are directly managed by IFMI.

PFM is not developed based on occupation standard set forth by government in a single jurisdiction which may undermine the ability of its holders to access global market. But instead, PFM curriculum is developed based on the understanding about the needs of financial modelers in common to gain the knowledge which enables them to stay ahead of market. This ensures worldwide recognition to your PFM designation.

If you fail in one of 2 modules in the exam, you can retake exam ONLY on the module that you fail. You are given 3 opportunities to retake and must pass the examination within 5 years from your 1st attempt. If you fail on the third attempt and/or not yet passed within 5 year, you need to sit in the preparation class again. Contact your training provider for the schedule of the examination.

Commonly, the grading process on a model prepared based on spreadsheet requires a lot of judgment on the grader side as no one develops models which are exactly the same. Different graders will look at the same model on different perception, causing substantial bias which undermines the credibility of the examination itself. To avoid that, grading process in PFM Program employs procedure to ensure fair grades where each candidate receives score he/she deserves. The computer practice examination is standardized in such a way that will greatly minimize discrepancies between graders. The use of multiple human graders also minimizes the impact from personal subjectivity. If a Candidate has reason to believe that the grading process is conducted unfairly, he/she can simply request for appeal or file a complaint which will be acted upon within a certain time limit.

No. No matter how advanced you are, PFM has unique content where some cannot be found elsewhere. Hence it is required to sit in preparation class prior to taking PFM Exam.

In order to adhere to ISO 17024 standard, designation holder must conduct recertification periodically to keep the his/her knowledge update. In PFM, the process is called Continuous Competency Initiative which will be conducted every 2 years. Since the infrastructure is still being developed, CCI has not been implemented (still on grace period). Once the system is fully developed, the CCI will be implemented. But in PFM Program, CCI is being designed to require minimal effort with cost as low as possible with options such as watching recommended webinars.

You can contact IFMI through info@professionalfinancialmodeler.org and IFMI will direct the Licensed Training Provider to arrange class on demand if participant quota suffices. Class will mostly be in English and exam will also be in English and some basic translation on your local language may be available as it is a standard by IFMI to provide exam in bilingual format in non English speaking country.

Yes you can. However, your Training Provider will be charging price based on a single package of preparation class and examination. If you do not wish to take the examination, you can simply absent on the day of the examination.

In each country, IFMI sets the basic price which can be offered by Training Providers. The price is different in each country by considering many factors including the cost of running onsite program in that country, local taxation and the operational costs involved. However, Training Provider may adjust the price based on the venue chosen and number of participants.

Yes you can. IFMI does appoint Licensed Training Providers on non exclusive basis for a country or region. There are requirements to be met. Contact info@professionalfinancialmodeler.org for more information.

Until now, PFM Designation holder is not required to renew membership or make any membership payment. In the future, in order to comply with accreditation standard, small administrative fee may be charged every several years to cover the cost of ensuring your compliance with PFM Certification Standard.

Financial Model is required skill that has to be mastered for individuals seeking career in finance, investment and risk management field. Financial Model is commonly an important job function which is required in many of the highest paying jobs in financial sector. Understanding about how to develop sound models and how to analyze them is a must forall professionals dealing with strategic decision making and analysis.

Understanding about financial model is crucial for professions such as:

  1. CFO and finance decision makers
  2. Planning and Budgeting functions
  3. Equity analysts
  4. Credit analysts
  5. Project managers
  6. Risk analysts
  7. Appraisals
  8. Portfolio managers
  9. Project financing analysts

Highly specialized professions such as: private equity analysts, investment bankers, hedge fund managers, risk quant, etc.

Development is currently underway for full online tutorial and examination available in all countries. There will be announcement when the online program is launched.