Certified Financial Supervisor
CFS Application Form
Upcoming CFS Program Dates in 2025
Watch this video to learn more about the CFS designation.
Download the CFS brochure to learn more.
Frequently Asked Questions
CFS Objectives
1. What is the CFS? How will it help support my career advancement? How will it benefit my agency?
The CFS is Toronto Centre’s inaugural designation for financial supervisors and regulators.
The CFS will build the core supervisory, crisis preparedness and leadership skills candidates require to support their agencies in the ever-changing financial services industry.
Candidates will gain the necessary knowledge and expertise to address the most pressing issues of today so they can lead and transform their agencies in these turbulent times.
The CFS is also designed to support central banks and supervisory authorities around the globe that have adopted or will adopt risk-based supervision. The CFS has a cross-sectoral focus (banking, insurance, pensions, securities) and integrates sustainable development goals to provide holistic coverage of the financial sector and wider supervisory objectives.
Application and Registration
2. How do I apply for the CFS designation?
Complete the application form and subsequent agency support letter, which will include approval from your direct supervisor.
The CFS is a rigorous designation and requires serious commitment from participants. Therefore, we require acknowledgement that your agency supports your participation for the entire duration and approves your attendance. Toronto Centre will review your application and, if you’ve met all the prerequisites, send you an acceptance letter outlining your next steps.
The CFS is comprised of three-levels. For upcoming CFS program dates and registration details, please go to the CFS page on Toronto Centre’s website.
Although there is no mandatory timeline for completion of Level 1, CFS candidates are recommended to complete the first level (comprising of three programs Core Curriculum, Crisis Preparedness and Climate Risk) within two years of registering.
3. Once I’m accepted into the CFS stream, do I need to register for each program separately or will I automatically be registered for them all?
You must register for each program separately. There are seven programs in total. CFS candidates are recommended to sign up for our email newsletters for updates regarding programs’ registration openings.
4. Do I have to take programs in a specific order?
We recommend CFS participants begin with Level 1 programs as they provide a foundational understanding of key concepts, however, it is not a requirement to do so. Participants may enroll in Level 1 and Level 2 programs in any order they prefer. It is a requirement that participants successfully complete all Level 1 and Level 2 programs prior to enrollment in Level 3 programs.
Financial
5. What are the CFS fees for registrants joining in 2025?
For further details, please refer here for fee details.
6. What is included in the program fees?
Program fees include the program delivery and all program materials. Participants will be responsible for paying for travel, accommodation, and some meals for in-person programs.
7. Are scholarships available?
There is a limited number of scholarships available only for the Core Curriculum Program to assist candidates.
Delivery, Exams, and Dates
8. Will the programs be held virtually or in-person?
The goal is to provide about half of the programs in-person. However, this may change based on pandemic-related travel advisories and global conditions. Please refer to the communications provided for each program.
9. How often will programs be offered?
All seven CFS programs will be offered each year.
10. What are the program dates for 2025?
Climate & Biodiversity Loss Risks: February 17 – 21
Effective Supervision: April 7 – 11
Crisis Preparedness & Simulation: May 26 – 30
Supervising Financial Conglomerates: July 7 – 11
Combatting Financial Crime: August 18 – 22
Digital Financial Services Supervision: September 8 – 12
Leadership in Action: Program 1: October 9
Leadership in Action: Program 2: October 20 – 24
Core Curriculum: November 17 – 28
11. How long will it take to complete the CFS designation?
Assuming the candidate passes and successfully completes each program, it should take approximately three years from start to finish. Candidates must complete all three levels of the CFS within five years of registration.
12. If I am unable to take a program, can I defer it to the next time it is offered?
Yes, subject to the candidate meeting the CFS program criteria.
13. If I fail an exam or quiz, can I retake the exam or quiz or do I have to retake the program?
Candidates will be allowed one retake of the exam or quiz. An additional nominal exam/quiz fee will be charged. If the candidate fails the exam/quiz retake, they will have to retake the program.
14. Will there be simultaneous translation available in other languages at any of the programs?
No. Programs, quizzes and exams will be conducted in English.
Gradation and Designation
15. Will there be a graduation ceremony to confer the CFS?
Yes.
16. Will CFS graduates be listed on Toronto Centre’s website?
Yes.
17. If I leave the supervisory and regulatory profession before completing the designation, can I continue in the program?
No. The CFS is a designation for supervisors and regulators.
18. If I leave the profession after receiving the designation, can I still list the CFS designation on my resume?
Yes, the designation is given to candidates in a personal capacity. Once a candidate has met all requirements and graduated, the designation can be listed on a graduate’s resume.
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