Turnaround Professional Qualifications

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The CTP, CTP-D, H-CTP and TCP qualifications and designations

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Turnaround Professional Qualifications

  1. 1. Jan van der Walt (Director: Certification) March 2010 Turnaround Professional Qualifications and Designations The premier professional community dedicated to corporate renewal and turnaround management
  2. 2. <ul><li>1. The turnaround industry in South Africa and the need for certification </li></ul><ul><li>Turnaround professional body </li></ul><ul><li>Turnaround professional body governance structures </li></ul><ul><li>4. Turnaround professional qualifications and designations </li></ul>TMA-SA Presentations on Turnaround Certification
  3. 3. <ul><li>Introduction </li></ul><ul><li>Turnaround professional qualifications and designations </li></ul><ul><li>Role of Services SETA </li></ul>Turnaround Professional Qualifications:
  4. 4. Introduction <ul><li>The Certified Turnaround Professional (CTP) qualification, introduced in the USA in 1993 and in Japan in 2005, and which is being planned in Australia, is earmarked for introduction in South Africa in 2011 </li></ul><ul><li>The Certified Turnaround Professional (CTP) qualification is an objective measure of the experience, knowledge, and integrity that is necessary to conduct corporate renewal work </li></ul><ul><li>Criteria used for determining further qualifications: </li></ul><ul><ul><li>Certified Turnaround Professional (CTP) qualification of the licensor as the cornerstone </li></ul></ul><ul><ul><li>Certified Turnaround Professional - Designate qualification for those that have passed exams but who don’t have the required experience yet </li></ul></ul><ul><ul><li>Temporary Turnaround Practitioner Candidate (TP-C) designation to provide recognition for turnaround professionals qualifying as CTPs until the CTP exams are ready </li></ul></ul>INTRODUCTION
  5. 5. <ul><li>Introduction </li></ul><ul><li>Turnaround professional qualifications and designations </li></ul><ul><li>Role of Services SETA </li></ul>Turnaround Professional Qualifications:
  6. 6. Turnaround professional qualifications and designations TURNAROUND PROFESSIONAL QUALIFICATIONS AND DESIGNATIONS CTP CTP-D Meeting CTP experience requirements Not meeting CTP experience requirements First CTP exams expected late 2011 Application Meeting CTP experience requirements Meeting CTP-D but not CTP eligibility criteria H-CTP Meeting H-CTP eligibility criteria CTP exams Approved attendance course in directorship TP-C CTP exams Meeting CTP eligibility criteria Approved attendance course in directorship Certification Flow Diagram Qualification Designation
  7. 7. Summary of professional qualifications if business rescue practitioners are regulated TURNAROUND PROFESSIONAL QUALIFICATIONS AND DESIGNATIONS
  8. 8. Minimum requirements for a Certified Turnaround Professional - Designate (CTP-D) <ul><li>A bachelor’s degree from an accredited university or at least ten (10) years of experience in executive or senior management, interim management, consulting, loan workout/restructuring, or in the legal or accounting professions or as a business rescue practitioner </li></ul><ul><li>Payment of all required fees </li></ul><ul><li>Successfully completed the written CTP examinations in management, law and finance/accounting prepared and graded by the Academic Subcommittee </li></ul><ul><li>Attended an approved course in directorship </li></ul><ul><li>Agree to support and adhere to the Code of Ethics of the Turnaround Management Association </li></ul><ul><li>Provide recommendations from three professional peers of the candidate </li></ul><ul><li>Reveal any pending disciplinary action or prior public discipline, any criminal conviction, any malpractice judgment or admission of malpractice and any refusal, denial or revocation of a license to practice or certification by another professional body </li></ul><ul><li>After certification, complete at least 50 hours of continuing professional education during each two-year period, including two hours of ethics credit </li></ul>TURNAROUND PROFESSIONAL QUALIFICATIONS AND DESIGNATIONS
  9. 9. Minimum requirements for a Certified Turnaround Professional (CTP) <ul><li>As for a CTP-D, plus: </li></ul><ul><li>A minimum of five (5) years of experience in executive or senior management, interim management, consulting, loan workout/restructuring, or in the legal or accounting professions or as a business rescue practitioner, three (3) years of which must be in turnaround, two (2) years of which must be with regard to companies suffering financial distress or in a financial crisis </li></ul><ul><li>Submit letters from at least three (3) clients confirming the turnaround nature of the assignments undertaken: </li></ul><ul><ul><li>Clients will not be asked to evaluate the candidate’s performance </li></ul></ul><ul><li>Submit five (5) case studies confirming the turnaround nature of the assignments undertaken </li></ul><ul><li>Payment of all required fees </li></ul>TURNAROUND PROFESSIONAL QUALIFICATIONS AND DESIGNATIONS
  10. 10. Minimum requirements for an Honourary Certified Turnaround Professional (HCTP) <ul><li>Honourary Certified Turnaround Professional (HCTP): as for CTP except: </li></ul><ul><li>No exams, but a lifelong contribution to the turnaround industry is required </li></ul><ul><li>By invitation of the Certification Governance Board only, and invitations will be extended every 5 years only </li></ul><ul><li>Turnaround Professional Candidate(TPC): as for CTP except: </li></ul><ul><li>The written CTP examinations in management, law and finance/accounting have not yet been passed </li></ul>TURNAROUND PROFESSIONAL QUALIFICATIONS AND DESIGNATIONS
  11. 11. <ul><li>Introduction </li></ul><ul><li>Turnaround professional qualifications and designations </li></ul><ul><li>Role of Services SETA </li></ul>Turnaround Professional Qualifications:
  12. 12. Role of Services SETA <ul><li>Development of professional qualifications </li></ul><ul><li>Assistance with approval of professional qualifications by SAQA </li></ul><ul><li>Assistance with having the Turnaround Certification Governance Board recognised by government as the regulatory authority of business rescue practitioners (see “Turnaround Professional Body” presentation) </li></ul>ROLE OF SERVICES SETA
  13. 13. Questions? <ul><li>Register as a member: </li></ul><ul><li>www.tma-sa.com/members/tma registration.asp </li></ul><ul><li>Contact details for Susanne Braatvedt (Administrator): </li></ul><ul><li>Tel.: 082 950 2624 </li></ul><ul><li>Fax: 086 592 3619 </li></ul><ul><li>Web site: www.tma-sa.com </li></ul><ul><li>Email: [email_address] </li></ul>Turnaround Management Association – Southern Africa CEO: Jan van der Walt

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