Apprenticeship program tops 100 participants in inaugural year

A first-of-its-kind apprenticeship program focused on improving the quantity and quality of talent in accounting and finance is celebrating a successful first year.

AICPA & CIMA, together as the Association of International Certified Professional Accountants, shared in a news release Tuesday that more than 100 apprentices, working with 17 employers across 15 industries, are taking part in the Registered Apprenticeship for Finance Business Partners.

At the program’s launch about a year ago, AON, HP, and Liberty Bank became the first participants in the program. Since then, CareFirst BlueCross BlueShield, Hypertherm Associates, Messer Americas, and Stanley Black & Decker highlight a growing list of participating employers.

“The battle for talent is increasing, making the need for more skilled accounting and finance talent even more pressing,” said Tom Hood, CPA/CITP, CGMA, executive vice president—Business Engagement & Growth at AICPA & CIMA. “How we address the needs of our finance teams today will better position us for tomorrow. Our apprenticeship combines a world-class learning program with mentorship and on-the-job training, which helps employers recruit and grow their own, providing the kind of workplace the 21st century workforce expects – diverse, inclusive, collaborative, and innovative.”

The program, a first for the accounting and finance function, is dedicated to establishing a pipeline of highly engaged candidates that allows employers to monitor and develop more skilled, diverse, and long-term employees. The program is built on the globally rigorous CGMA Finance Leadership Program, with participants who complete the program earning the Chartered Global Management Accountant designation.

“The Registered Apprenticeship for Finance Business Partners program immerses employees in the experience beyond traditional upskilling methods and will help us to develop diverse and skilled finance teams for now and in the future,” said Tom White, CPA, CGMA, director of accounting at CareFirst. “We are excited to make this program available to our finance colleagues to help them gain essential skills, earn their CGMA designation, and carve out a path for job training, mentorship, and career growth.”

The program serves as a pipeline management tool, featuring a level of flexibility that allows participating employers to take the approach that best serves their business needs and that allows employees to participate at different stages of their professional development. In addition to the ability to upskill existing employees, the program can attract new employees – even ones still working toward a college degree – and train them in ways that benefit the employer and the employee.

And the program’s reach is continuing to grow, right along with the size of its participant list.

“Apprentices in the AICPA & CIMA Finance Leadership Program need not have completed their two- or four-year degree to join an apprenticeship program. They just need to complete their degree by the time they complete the program,” said Joanne Fiore, vice president—Pipeline & Apprenticeships at AICPA & CIMA. “We are also piloting a youth apprenticeship in Maryland high schools, because we need to attract students into the profession earlier, and research shows that high school students in structured earn-while-you-learn apprenticeship programs, such as AICPA & CIMA’s, can be very productive and contribute to the workplace.”

For more information, contact Fiore at Joanne.Fiore@aicpa-cima.com.

— To comment on this article or to suggest an idea for another article, contact Bryan Strickland at Bryan.Strickland@aicpa-cima.com.