US leasing qualification gains ELFA approval as numbers seeking to enrol soar

At the time Ralph Petta, ELFA president & CEO stressed: “At the recommendation of a task force of the ELFA board of directors, over the past year the association conducted a comprehensive needs and market analysis regarding the level of interest in a credentialing program for the equipment finance industry.

“Based on the feedback received from members, ELFA has decided to expand our involvement with the CLFP Foundation to raise awareness and increase the visibility of their existing credential. We are encouraging all members who haven’t yet earned the CLFP designation to consider enrolling in this highly-respected program to demonstrate their industry expertise and increase their opportunities for advancement in this great industry.”

Throughout 2016, ELFA will promote the CLFP program to its membership through a variety of communication channels, including the association’s Equipment Leasing & Finance magazine, QuickBrief e-newsletter, ELFAonline.org website and social media properties.

The association also will market the program through a wide range of professional development events and provide exhibit booth space for CLFP Foundation staff at key conferences. In addition, members who attend or teach at ELFA conferences and web seminars will be eligible to earn CLFP continuing education credits.

Reid Raykovich, CLFP executive director (pictured above) explained: “The CLFP credential is the singular standard for professionalism in the equipment leasing and finance industry. There are currently 317 CLFPs and associates throughout the world, and we look forward to growing participation in the program through this exciting alliance with ELFA.”

She told Asset Finance International: “The CLFP Foundation received and approved 87 applications in 2015, with 63 applicants sitting for and passing the exam. The remaining applicants are either studying to take the exam or planning to re-sit for it. With 317 CLFPs in good standing, the Foundation has set another record for its highest membership count since the inception of the designation in 1985.”

She added: “The Foundation added another 10 members for a total of 19 new members in the first two months of 2016 alone.”

Prior to joining the Foundation in April 2012 Raykovich worked for several companies within the equipment leasing and finance industry including a bank, a broker, a service provider and a lessor.  She received her CLFP designation in 2005 while working at Great American Insurance. Since her appointment at the Foundation in 2012 she has seen its membership double within three years.

One challenge facing Raykovich during 2015 was getting the eight-hour examination accessible online. The Foundation contracted with Trevor Denham of BlueDenham LLC to create an electronic exam module.

Relieves the stress

She said: “The examination remains exactly the same as its written counterpart, but allows the user to go at their own pace (within the designated time limit) and relieves the stress from handwriting all of the answers.

“The exam must still be proctored by a CLFP in good standing, or other approved individual; however, the Foundation is looking at ways to offer it remotely in the near future.”

To leasing professionals seeking to grow their career in the industry, or indeed new entrants into the industry, Raykovich stressed: “Earning and maintaining your designation as a Certified Lease & Finance Professional will distinguish you in the commercial equipment leasing and finance industry as someone with exceptional reputation, experience and mastery of the CLFP Body of Knowledge.

“The CLFP designation is the singular standard for professionalism in the leasing industry. In fact, CLFP is the only leasing industry certification program in the world. The letters CLFP behind one’s name are a visible acknowledgement of this professional achievement and status.

“As a CLFP in good standing you will have access to the members-only section, discounts on products (e.g., TValue), and access to an elite group of peers.”