Why is the Certified Turnaround Professional (CTP) credential important?
Anyone can claim to be a turnaround professional. The CTP designation provides an objective measure and recognition of expertise. It is a mark of distinction for professionals who have demonstrated their commitment to the corporate renewal industry and to a high standard of excellence and integrity.
In addition to passing an extensive background check, CTPs must meet specific standards of education and direct experience. Requirements include:
- Hold a bachelor's degree from an accredited college or university or possess 10 years of senior management experience
- Pass a rigorous three-part certification examination covering crisis management, finance and legal issues including bankruptcy and UCC law
- Possess a minimum of five years of senior management experience leading the turnaround of the business or major business units
- Provide recommendations from three practitioners
- Submit three letters of reference attesting to professional experience and specialized expertise
- Submit five case studies confirming the turnaround nature of the assignments undertaken
- Meeting continuing education requirements to maintain certification
- Adhere to a strict code of ethics
The organization charged with overseeing CTP credentialing and standards is the Turnaround Management Association (TMA). Additional information about the TMA in general and CTP program specifically can be found at www.turnaround.org.
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