AGA TOPICS Newsletter

CGFM Profile

Barry and Sharon Sims learned about the CGFM by doing their homework on how to become better federal financial managers.

Barry Sims turned to the Bureau of Labor Statistics’ Occupational Outlook Handbook to look up the training, qualifications and advancement opportunities that were available for budget analysts. He found a description of the CGFM credential (www.bls.gov/oco/ocos003.htm) and a link to AGA’s website (www.agacgfm.org).

That got him thinking about joining AGA and taking the three examinations. He and his wife agreed to set a goal to earn the CGFM. They joined AGA’s Boston Chapter last year, attended meetings, and got busy studying.

Barry coordinates investigations of tax return preparers for the Internal Revenue Service. Sharon is a financial management specialist for the Centers for Medicaid and Medicare Services, reviewing Medicaid activities for the state of New Hampshire.

Sharon’s employer, the U.S. Department of Health and Human Services, bought the three study guides, paid her exam fees and gave her time off to take the exams. The couple spent their time on the commuter train reading. They highlighted the major points, took the quizzes at the end of each section and sat for the three CGFM Examinations together, passing each one over the course of several months.

Barry said that much of the information was brand new to him. Even though he studied advanced accounting in college, which covered governmental accounting, that was 24 years ago.

“It gives you an insight into how the administrative processes work in the different agencies, what laws govern them and what procedures they go through to comply with them,” Barry said. “GAO audits, OIG audits, pay for performance, performance-based budgeting…you hear a lot of these terms, but if you’re not working with them every day, you don’t know a lot about them and the exams covered those very well.”

Sharon said she found the examinations harder than she thought they would be, particularly Exam 2, Governmental Accounting, Financial Reporting and Budgeting. “I also purchased the CPE to go with it, so that was a separate test, which was really helpful because it was similar.”

Barry noted that the CGFM will not help him much in his current position, but he hopes someday to work in the CFO’s office of the IRS or the Department of the Treasury’s Financial Management Service in Washington, D.C.

Sharon received a promotion after earning the CGFM in July. While she can’t say for sure that the CGFM clinched it for her, said noted, “I don’t think it hurt. Every little bit helps.”

Sharon and Barry both believe the CGFM will help them advance within the federal government financial community. A commitment to continuing education shows you are serious about your career, and makes your more marketable if you want to branch out into other areas of financial management, they said.

“I think that for somebody who’s either in accounting or budgeting or financial management, or looking to get into it, the knowledge you gain from studying for the CGFM Exams greatly enhances your skills in those areas,” Barry said.

Sharon noted: “I feel like I’ve gotten a better appreciation for how the financial management arena works overall because a lot of the jobs you have you stay focused on your own area. It opened up that horizon a little better to give me a more well-rounded background.”

She went on, “Even if people are in management positions—if they’re not doing the detail work anymore—these types of certifications and this kind of information is very useful because, again, it gives you that overall, big-picture environment.”

By: Christina M. Camara