Certification in Action: Kevin McCarty - Articles

What challenges/problems have you overcome that you could attribute to knowledge gained from the CCIFP designation?

Having received my Masters in Accounting over 10 years ago, the process of reengaging my mind to overcome the CCIFP exam was rewarding. It jumpstarted my desire for process improvement both personally and professionally.

I view the CCIFP designation as an acknowledgement that I was absorbing more than I thought over the past 16 years working in the construction industry combined with many long nights studying content tailored for the exam. I joined multiple study groups in the weeks leading up to my exam date, and through those connections, I was able to implement some best practices.

The concept of iron sharpens iron comes to mind; it has truly helped to sharpen my department and overcome the desire to continue business as usual. Continuously looking for improvement opportunities enhances your role as an authority figure in your company; your employees and end customers depend on it.

Can you share a specific situation?

Numerous situations in my day-to-day activities have given me flashbacks to studying for the CCIFP exam, such as a late revision to an early month invoice. What accounts are affected, and how so? It sounds like a test question, but this time, it was real life.

The mindset to stop and think about it like you would on the exam or like your accurately stated financial statements depend on it can be contributed to years of experience and the time invested in exam preparation.

What was the most obvious advantage you felt?

The CCIFP community is made up of the industry’s best and brightest. Connect with those who have earned their CCIFP and those on the path to certification. Engage with them, learn from their experiences, and join peer groups to grow together.

You may not need them now, but having their expertise at your fingertips is invaluable. Whether for networking or tackling complex issues, the CCIFP community is your go-to resource.

Can you share any metrics/KPIs?

The percentage of people I was hired by that already had their CCIFP is 100% over the past 10 years and by two construction companies.

Why is it important to have a CCIFP in your organization?

The CCIFP designation is quickly becoming the gold standard within construction finance. There is a significant difference between understanding general accounting/finance concepts and construction-specific accounting/finance concepts.

The CCIFP is an outward expression that you and, in turn, your company are committed to excellence. For example, if part of your job was to review preliminary in-house financials for trade partners related to the prequalification process, then would you put more weight in those financials prepared by a CCIFP or an unknown individual? The answer of a CCIFP is just one example of the hard-to-measure importance of having CCIFP credentialed employees within your organization.

Why would you recommend the CCIFP?

The CCIFP designation following your name speaks volumes in today’s construction finance community. These five letters provide affirmation to what you are trying to convey in your message; be sure to update your email signature once you have passed the exam to allow CFMA and CCIFP communities to stand beside you — you earned it!

The old saying “It’s not what you know, it’s who you know” still stands true in many circumstances; however, if you want to really stand out, take it one step further and let those who know you know what you know with the CCIFP credential.

Also, hiring new employees can seem like a roll of the dice. Was their resume inflated? Do they have relevant experience? Filter the candidate pool down to the best and most appropriately suited with the CCIFP, as it may help increase the odds it ends in your favor.

Is there anything else you’d like to share about becoming a CCIFP?

Bring a calculator when you take the exam! I made the mistake of walking into the CCIFP exam overly confident in my mental math skills.

This exam is no joke — it’s four hours of math and mental gymnastics that will test your skills and knowledge in the industry. The last thing you need is to attempt long division or multiplication in your head or as chicken scratch.

However, once you have passed the exam, the time commitment and exam difficulty makes it that much sweeter when you realize it is behind you.

If you have your CCIFP designation and would like to share your experiences, send an email to publications@cfma.org.