CLFP Rolls Out in Australia

The US-based Certified Lease & Finance Professional (CLFP) designation is finally being rolled out in Australia. Fifteen Australian professionals are currently going through the program, according to Reid Raykovich, CEO of the CLFP Foundation. The launch, which was slowed down by covid, is the result of years of collaboration between two organizations, the CLFP Foundation in the US and the Commercial Asset & Finance Brokers Association (CAFBA) in Australia.

“Prior to partnering with the CLFP Foundation, CAFBA looked at offering specific commercial finance courses through Australian tertiary institutions,” CAFBA said, “however, after discussions it was felt that it would take too long to commence, would not provide content control and would not have recognition outside the tertiary institution. There are many advantages in being part of an internationally recognised accreditation that is industry specific.”

After an initial meeting between the two organizations in 2015, CAFBA CEO David Gill travelled to the US two years later to participate in the CLFP training and examination. Thus kicked off the plan to bring the CLFP designation to Australia and the partnership was officially announced in March 2022. The Handbook, training, and exam are all based on the same framework that was established in the US. However, certain areas had to be modified to ensure it was relevant and consistent with the Australian structure.

Australia isn’t the only country targeted for program expansion. The aim is to make the CLFP the preeminent credential throughout the world.

“We are also working with the Canadian Finance and Leasing Association (CFLA) to make the designation available in Canada as well,” said Reid Raykovich. “Last year, I announced the initiation of the designation in Prince Edward Island, Eastern Canada. There have been discussions with other countries as well, but nothing official yet.”