SDFM Announces Updates to Certification Policies and Fee Structure
The Society of Defense Financial Management (SDFM) will be making updates to its certification policies and fee structure, in 2024. These changes are designed to enhance the value of our Certified Defense Financial Manager (CDFM) certification program and support our ongoing commitment to excellence and innovation in defense financial management. Notably, there has not been a fee increase or change in nearly a decade, highlighting our dedication to maintaining affordability while continually improving the quality and expanding the scope of our certification program. It is important to note that there is no change to the education or experience requirements to pursue certification.
Key Changes Include:
1. New Fee Structure – EFFECTIVE OCTOBER 1, 2024
- The certification application fee will increase from $40 for members/$75 for non-members to $49 for members/$89 for non-members.
- Each CDFM exam module fee will increase from $99 to $119.
- The recertification fee will increase from $25 for members/$45 for non-members to $49 for members/$89 for non-members.
2. Revised Certification Processes – EFFECTIVE NOVEMBER 5, 2024
- The updated certification process will require candidates to purchase all CDFM exam modules and pay the application fee to complete the application.
- Candidates who do not complete the certification process within the 2-year application period must submit a new application and start the certification process over again, including exam purchase and testing.
3. Revised Recertification Processes – EFFECTIVE NOVEMBER 5, 2024
- The updated recertification process will require certificants to pay for an extension through the online customer portal.
- Certificants who do not reinstate their certification within 2 years must start the certification process over again.
Rationale for Changes:
These updates reflect our commitment to maintaining the highest standards of professionalism and expertise in the defense financial management profession. The revised policies and fees will enable us to:
- Streamline Processes. By updating our certification requirements, we are fostering continuous improvement and ensuring that our stakeholders have a more efficient, streamlined experience throughout the certification process.
- Expand Resources. The increased fees will allow us to invest in additional resources and support services for our certification holders.
Comments from Leadership:
“Our priority is to uphold the integrity and value of our certifications,” said Rich Brady, CDFM, CEO of SDFM. “These changes are essential to accomplish SDFM’s mission and strategic priorities and to meet the growing demands of the defense financial management profession and to provide our certified professionals with the best possible tools and resources for success.”
Implementation Timeline:
The new fee structure will take effect on October 1, 2024. The new policy structure will take place on November 5, 2024. We encourage all current and prospective certification holders to review the updated requirements and fees below.
| 2024 CDFM Policy & Fee Changes | ||
| Current | Effective November 5, 2024 | |
| Certification Process | ||
| CDFM Program enrollment terminology | CDFM Program “enrollment” | CDFM “application” |
| CDFM application | Can pay the enrollment fee with or without exams | Must pay for all exams in addition to the application fee in order to complete the application process |
| CDFM enrollment extensions | Can pay for up to 2 enrollment extensions | Application extensions rarely approved & only on a case-by-case basis due to extenuating circumstances |
| CDFM certification process timeline | If candidate does not complete the process within 4 years from the date of the first passed exam, must start process over again | If candidate does not complete the process by end of 2-year application period, must submit a new application and start process over again |
| Exam authorization life cycle | Unused exam authorizations are good indefinitely | An unused exam authorization is good through the end of the 2-year application period |
| Passed exam life cycle | Passed exams are good for 4 years regardless of enrollment status | Passed exams are good through the end of the application period |
| Recertification/Reinstatement | ||
| 90-day CDFM recertification extensions | Email recertification form indicating extension request, no fee for extension | Pay a fee for the extension through the customer portal |
| Classification of lapsed certifications | A certification that has lapsed from 1 to 90 days is called “Suspended”, after 90 days it is called “Inactive” | A certification that has lapsed from 1 day to 2 yrs is called “Expired”, after 2 yrs it is called “Inactive” |
| Reinstatement requirements if certification has lapsed 1 day to 2 yrs | Submit proof of 80 CPEs, pay recertification fee, and pay $50 late fee | Submit proof of 80 CPEs, pay recertification fee, and pay $45 reinstatment fee |
| Reinstatement requirements if certification has lapsed > 2 yrs | Submit proof of 80 CPEs, pay recertification fee, and pay $100 reactivation fee | Must start entire certification process over again (apply & retest) |
| Certified Retired Policy | ||
| Certified Retired | Must request Certified Retired status while actively certified | Can be changed to Certified Retired status regardless of certification status |
| Reactivating from Certified Retired status | Pay the recertification fee plus $50 reactivation fee | Pay only the recertification fee (no reactivation fee) |
| CDFM Program Fees | Old (Prior to October 1, 2024) | Effective October 1, 2024 |
| CDFM/A enrollment/application | $40 member | $49 member |
| $75 non-member | $89 non-member | |
| CDFM exam (each) | $99 | $119 |
| CDFM/A Recertification | $25 member | $49 member |
| $45 non-member | $89 non-member | |
| Recertification extension | Free | $35 |
| Reinstatement fee | $50 for 1-3 months | $45 |
| $100 > 3 months | ||