Certified Fiduciary & Investment Risk Specialist® (CFIRS®)

Overview

The Trust Audit, Compliance, and Risk Management (TACRM) School addresses the needs and requirements of trust audit and compliance professionals and is the track that leads to the Certified Fiduciary and Investment Risk Specialist® (CFIRS®) designation.

The CFIRS® designation is a recognized credential in the financial services industry, demonstrating an individual's expertise in trust audit, compliance, and risk management. Obtaining this designation may have additional exam requirements beyond the completion of the three-level curriculum.

Each course emphasizes fiduciary regulation, oversight requirement, and performance impact. This curriculum serves at the forefront of the industry in areas of risk analysis approaches to auditing and the elements of a compliance/risk management program related to fiduciary administration, investment management, and process services.

Regulators and compliance professionals interact together learning to identify fiduciary risks, the signification of non-compliance, as well as how to recognize and effectively deal with trust audit and compliance issues. This unique environment serves to foster an atmosphere of partnership and understanding.

Who Should Become a CFIRS®?

Professionals in Regulatory Bodies
Do you ever worry about keeping pace with the ever-evolving fiduciary laws and regulations? The CFIRS® designation is your shield against uncertainty. Imagine confidently interpreting intricate legal nuances, making informed decisions that shape industries and picture yourself as the go-to expert in your field, respected by peers and sought after for your insights. With CFIRS®, you're not just keeping up with changes; you're anticipating them. Become the valued expert, leading the way for your organization.

Trust Audit Professionals
Feeling overwhelmed by the intricacies of fiduciary regulations? The CFIRS® designation is your lifeline in a sea of complexity. Imagine approaching each audit with unwavering confidence, knowing you have the skills to unravel even the most challenging scenarios. That's the CFIRS® advantage – turning anxiety into assurance.

Compliance Professionals
Are you constantly battling the fear of overlooking critical risks? The CFIRS® curriculum is your armor in the fight against uncertainty. Envision yourself as the cornerstone of your organization's stability, armed with the knowledge to foresee and mitigate risks before they become issues. With CFIRS®, you're not just managing compliance; you're ensuring a secure future for your company.

Financial Services Professionals
Are you feeling the pressure to stay ahead in an increasingly complex financial landscape? The CFIRS® designation is not just about knowledge; it's about peace of mind. By earning this credential, you're not only safeguarding your clients' trust but also securing your own future. Imagine walking into every meeting knowing you have the expertise to handle any investment and risk management challenge.

Curriculum Outline

The Trust Audit, Compliance & Risk Management program is a comprehensive three-part curriculum designed to equip professionals with the knowledge and skills required in the areas of trust audit, compliance, and risk management within the financial services industry.

TACRM I: Trust Audit, Compliance & Risk Management I This level provides an introduction to the industry, covering topics such as industry overview, relevant federal and state laws, regulations, and rules, property law, and personal trust and agency administration.

TACRM II: Trust Audit, Compliance & Risk Management II In this level, participants delve deeper into the principles of audit, compliance, and risk management. It covers brokerage operations, insurance products and services, securities marketplace, types of securities, and portfolio management.

TACRM III: Trust Audit, Compliance & Risk Management III The final level focuses on retirement plan administration, assessment of risk management, securities operations, regulatory review, and corporate trust and agency services. Successful completion of this level prepares participants to take the CFIRS® designation exam.

CFIRS® Exam

The CFIRS® certification requires designation candidates to successfully pass the certification examination as one of the requirements to earn the designation. This certification exam allows the CFIRS® Board of Standards to determine if a candidate possesses the minimum required knowledge expected of a certified professional in the domain of Trust Audit, Compliance and Risk Management.

Prerequisites to sit for the CFIRS® Certification Exam

The CFIRS® Board of Standards has eligibility requirements which must be met before a candidate may earn the Cannon Certified Fiduciary Investment Risk Management Specialist® designation. The exam application process ensures that candidates have met these requirements, which are:

• Three years of industry experience and a four-year degree from an accredited college or university
• Complete an approved study program
• Complete the CFIRS® application
  • Submit a Letter of Recommendation
  • Agree and sign the CFIRS® Professional Ethics and Code of Conduct Standards
  • Pay the CFIRS® exam fee

Or

• Five years of industry experience
• Complete an approved study program
• Complete the CFIRS® application
  • Submit a Letter of Recommendation
  • Agree and sign the CFIRS® Professional Ethics and Code of Conduct Standards
  • Pay the CFIRS® exam fee

CFIRS® Exam Responsibility and Validity

As the issuing authority of the CFIRS® certification, the Board of Standards is charged with creating exams that are representative of the appropriate knowledge and skills for a credentialed professional in the domain of Trust Audit, Compliance and Risk Management. Cannon uses its extensive experience in training, supporting and preparing professionals in the financial services industry to establish the evaluation model and requisite examination questions that ensure candidates have the necessary knowledge competencies for an CFIRS®.

Our faculty and exam writer’s deep and tenured experience in the areas of training and supporting professionals, learning theory and standardized test construction ensures exam questions are appropriate, match the certification competency sets and meet ISO quality standards of fairness and accessibility in compliance with ADA section 19.