TMA developed the Industry Leader Certification Application to streamline the certification process so that the top Turnaround managers in the industry can earn a CTP designation. It allows a candidate to bypass the testing process, position confirmations, and references by valuing the weight of the individual’s experience, reputation, and status within the industry.
While the criteria generally outline the qualifications expected, the TMA Certification Oversight Committee retains full discretion in the approval process. Meeting these minimum requirements does not guarantee certification, as each applicant is assessed on a case-by-case basis to ensure they represent the high standards associated with the CTP designation.
Eligibility Requirements
- 20 Years of Total Experience: Applicants must have at least 20 years in the field, with at least 10 of those years being consecutive and immediately preceding their application.
- Specialization in Turnaround Management: Experience must include extensive work in turnaround management, reflecting a comprehensive understanding of the strategies, challenges, and operations involved in distressed business environments.
- Seven Documented Cases: Candidates must provide evidence of at least seven successful engagements in distressed interim management.
- CRO or Interim CEO Role: These cases must include at least one instance in which the applicant served as Chief Restructuring Officer (CRO) or Interim CEO, demonstrating high-level decision-making authority and strategic oversight in the turnaround process.
- Court Appearances: Applicants should have experience testifying in insolvency proceedings, such as bankruptcy court.
- Depth of Knowledge: This experience should showcase the candidate’s ability to navigate legal processes and effectively communicate the turnaround strategy to stakeholders and the court.
10 Years of Continuous Membership: Candidates are required to have maintained uninterrupted membership with the TMA for at least a decade, underscoring their long-term commitment to the industry and involvement in professional networks and development.
- Demonstrated Firm Leadership: Applicants should hold a senior leadership position within a turnaround management firm or practice. This can include roles such as head of a turnaround firm, regional head, or leader of a turnaround practice within a larger organization.
- Strategic Influence: This leadership role should demonstrate the candidate’s impact on firm strategy and operational decisions in turnaround situations.
Application Process
To apply for the CTP as an Industry Leader, candidates must submit:
- An application
- A qualification statement detailing their professional experience, case studies, court involvement, and leadership roles.
- Proof of a college degree
Please email the completed application and supporting information to certification@turnaround.org
The certification committee carefully reviews each application, making the final decision regarding approval based on the candidate’s overall professional qualifications and alignment with the CTP standards.