The Certified Turnaround Professional (CTP) designation was introduced in 1993 as an objective measure of the experience, knowledge and integrity that is necessary to conduct corporate renewal work. The TMA Certification Program establishes quality standards for an otherwise unregulated profession.
Why is Certification Important?
The CTP designation provides evidence of an individual’s commitment to the turnaround and corporate renewal industry and also attests to a level of expertise that non-certified professionals may find difficult to prove. Completing the CTP certification process provides a corporate renewal professional with a solid foundation to operate successfully in the industry and could very well enhance future earning power.
In fact, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (S. 256) makes certification more important than ever. Section 415 directs courts to consider whether a professional person is certified or has otherwise demonstrated skill and experience in the bankruptcy field. This amendment makes certification a specific factor in the award of compensation to professionals.
Why Become Certified?
- Demonstrate your commitment, competency and expertise in the corporate renewal industry
- Distinguish yourself from your professional colleagues
- Raise your stature in the corporate renewal industry and gain a competitive edge
- Promote the professionalism of the turnaround and corporate renewal industry
How to Become Certified
To become a CTP, professionals must meet stringent standards of education, experience and professional conduct that have been developed and are administered by the TMA Standards Subcommittee.
The certification process involves the following steps:
- Application Portfolio - Meet experience requirements and submit completed portfolio
- CTP Exams - Successfully complete three CTP exams covering Law, Management and Accounting/Finance
- TMA Standards Subcommittee Review - Receive notification of eligibility upon thorough review by the subcommittee
The path to becoming certified is often rigorous and challenging, but earning the CTP designation is significant - a demonstration of the highest level of professional achievement and commitment - and a source of pride and personal accomplishment.
Who can become Certified?
The Certification Oversight Committee and TMA endorse the principles of equal opportunity. Eligibility criteria for examination and certification under the TMA Certification Program are applied equally to all applicants, regardless of age, race, color, religion, gender, sexual orientation, gender identity, ancestry, national or ethnic origin, veteran status, or disability.
Participation in the TMA Certification Program is voluntary and open to anyone meeting the eligibility requirements. Membership in TMA is not required.
TMA offers two designations: the Certified Turnaround Professional (CTP), intended for seasoned practitioners, and the Certified Turnaround Analyst (CTA), a knowlege based certification that is able to serve as an interim step to obtaining full certification for individuals who have not yet acquired the necessary experience.
CTPs have a proven track record and years of experience in working with companies or large business units that are in financial crisis. CTPs must be or must have held positions such as, but not limited to, turnaround practitioners, consultants, workout lenders, or attorneys and must demonstrate competency in the legal, financial and management aspects of a turnaround.
CTAs meet both the educational and professional endorsement requirements of certification, yet they have not yet acquired the requisite experience for full certification. Applicants who are recent college graduates or who are working in the corporate renewal profession but have not yet acquired all of the necessary leadership experience are encouraged to pursue the CTA certification.
In general, CTPs are comprised of the following groups of professionals:
- Turnaround practitioners
- Workout lenders
- Portfolio managers
- Corporate turnaround executives
- Industry veterans who have significantly contributed to the turnaround and corporate renewal industry and have demonstrated through their practice a high degree of technical and practical knowledge
- Retiring professionals who want to maintain their CTP designation by becoming a CTP Emeritus
Find a CTP or CTA
Search the online directory of Certified Turnaround Professionals and Analysts.