AICPA & CIMA Celebrate First Graduates of Finance Apprenticeship Program
NEW YORK, December 9, 2024 – The Association of Internationally Accredited Professional Accountants (AIPCA and CIMA) marked an important milestone during National Learning Week with the graduation of the first cohort of its Business Partner Financial Learning Program (BFP). This pioneering initiative, created in November 2022, is the country’s first registered learning program designed to meet the growing demand for skilled finance and accounting professionals.
Graduates Daniel Grufferman, Global Trade Controller and Guarantee Controller at Stanley Black & Decker, and Jeffrey Culp, SVP & CFO at the Liberty Bank Business Transformation Office, held a ceremony that also recognized the employers and mentors who contributed to the success of the program. Grufferman and Culp, experienced professionals, continued the program to improve their experience and align with the changing requirements of the accounting and financial professions. His achievements highlight the role of the RAP program in developing strategic management skills and promoting innovation in industry.
Addressing financial and accounting gaps
The PAR program was designed to address the lack of financial and accounting skills by providing a structured pool of diverse and highly qualified professionals. Registered with the U.S. Department of Labour, the program integrates rigorous courses from the Global Management Constable Leadership Programme (GCMA) with practical training at work. This approach allows employers to develop skills tailored to their needs while fostering a diverse and inclusive work culture. According to Tom Hood, Executive Vice-President of Corporate Participation and AICPA Growth, “The fight for talent is growing, making the need for accounting and financial skills even more urgent. Our apprentice combines a world-class apprenticeship program with on-the-job mentoring and training, helping employers recruit and cultivate their own skills
Programme participants obtain information on critical areas such as strategic risk management, corporate governance and business strategy, preparing them to serve as confidence advisors within their organization. Jeffrey Culp, one of the first graduates, said: “This program provided me with the necessary background and tools to actively participate in discussions on business strategy, risk management and internal controls as trustee
Celebration of excellence
The National Learning Ceremony of the Week was marked by speeches by distinguished dignitaries, including Jason Perkins-Cohen, Assistant Secretary of the Maryland Department of Labour, who delivered the keynote speech. Jeffrey Smith, from the U.S. Department of Labour, gave graduation certificates to graduates, paying tribute to their dedication and success in promoting talent development. Joanne Fiore, Vice President of Pipeline and AICPA & CIMA Apprenticas, highlighted the increasing impact of the program, highlighting its expansion to include high school apprentices in Maryland. “By showing the benefits of learning programs, we seek to inspire more professionals and organizations to accept this valuable career,” he said.
Recognizing the main contributors
In addition to honouring graduates, the event brought together individuals and organizations who played a key role in the success of the program. Awards were awarded in various categories, recognizing excellence in orientation, employer engagement and promotion. The beneficiaries were:
- Apprentices of the Year: Abby Wild (AON), Pat McMahon (AON), and Xiao Stevens (Liberty Bank).
- Mentor of the Year: Nicholas Lacovara (Liberty Bank).
- Employer of the Year: HoganTaylor LLP.
- Youth Employer of the Year: Maryland Auto Insurance.
- Apprenticeship Ambassador of the Year: Monika Turek (HoganTaylor LLP).
- Special Ambassador of the Year: Paul Young (Liberty Bank).
Faith Balshan, Senior Specialist at PIARC and CIMA, highlighted the collective effort that underpins the program’s success by saying: “The registered learning program is multifaceted and requires the dedication and collaboration of many key players. From mentors and employers to apprentices themselves, it is the collective effort of all parties involved that determines the impact and effectiveness of the programme
A vision for the future
The RAP program represents a transformative approach to talent development in finance and accounting, which provides participants with a solid base of technical skills and strategic leadership. As the program expands, it should attract more professionals and organizations to find innovative solutions to work problems. By leading the way in professional development and fostering a culture of diversity and inclusion, the PAR program is ready to shape the future of the financial and accounting professions.
Employers like Liberty Bank have already seen the benefits, as Paul Young, CFO, said: “The apprenticeship program has helped us become an employer of choice in the banking sector in the markets and communities we serve. The success of the inaugural cohort underscores the program’s potential to redefine talent acquisition and professional development in the industry.
AICPA & CIMA continues to promote initiatives that meet the changing needs of the global financial and accounting community. Through programs such as RAP, they empower professionals to lead an increasingly complex and dynamic business environment.
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