Opportunity for financial managers

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Aboriginal financial managers now have until Dec. 31, 2001 to take advantage of a special arrangement that allows them to have their work history taken into account to gain professional designation.

So many people are looking to secure designation as a certified Aboriginal financial manager (CAFM) that the organization that grants that certification - Aboriginal Financial Officers Association Canada (AFOA Canada) - has added more time to a grand-father clause that means qualified financial managers can get credit for work experience.

AFOA executive director Daniel Ryan told Sage his organization is growing quickly both in size and in influence.

"AFOA Canada was created as a result of the Assembly of First Nations-Certified General Accountants Association task force two years ago," he said. "It was identified that there was a need for accountability and capacity development. One of the tools that they felt was required was the creation of a national body that was non-political, membership-driven, that dealt with the issues of Aboriginal financial management, not necessarily in the context of First Nations but overall Aboriginal financial management."

More than 100 people have been accredited since AFOA was incorporated in July of 1999.

Ryan said it took time for the organization to get established but it's now on the verge of becoming the most important body in the area of Aboriginal financial management.

The professional designation granted by AFOA is now recognized as a sign that a person is fully qualified to provide top level financial management and has an understanding of Aboriginal culture, history and law.

"It is being recognized. There's been quite a bit of interest and therefore there is a bonus in pursuing the initiative of getting the designation. AFOA is committed to that and is preparing and developing the tools and researching all aspects and hopes to become, eventually, the leading voice in terms of Aboriginal financial management issues," Ryan said. "That certainly speaks to the need. A lot of people are hopping onto the bandwagon and, since we've only been in existence physically with a location and an awareness campaign that we've been doing until we get up to speed (for a relatively short time), I would say that the potential in two years is to be up to the 300 to 500 mark for designation."

The special arrangement is by no means a fast-track or Native access type program, Ryan said. It is just a way to recognize that some people working as financial managers in Aboriginal businesses or communities are already fully qualified. He said the process AFOA uses to ensure that applicants meet the grade has been described as tough.

"You present your portfolio to AFOA Canada, outlining all of your academic achievements, outlining your work experience. We have the competency standards and all of the curriculums from the various colleges and universities so that at any given time someone can submit their portfolio to us, we can refer back and see if it meets the criteria," he said.

AFOA provides courses that will get people up to standard but it also recognizes studies completed in other institutions.

Ryan said having a professional organization means having access to colleagues and peers who can advise managers and allow them to do a more effective job.

The organization depends on federal government funding at the moment but the executive director hopes to run without that help in the near future by generating revenue from membership fees, services and special projects.

"In the early days, yes we are being funded by the federal government. We are looking at self sufficiency down the road," he said. "Wanting to be recognized as the voice of Aboriginal financial management, certainly, when you talk about accountability aspects, you want to be arm's length from the government. Down the road we view that as a very high priority item."

Those who have finalized their designation process before Jan. 29 will gradate in a ceremony during the AFAO's annual conference in Vancouver from Feb. 22 to 24.

For more information, visit the website at www.afoa.ca or call 1-866-722-2362.