Amin A. Mohomed, CPA, CGMA
Wilary Winn Risk Management, LLC
Amin Mohomed works as a Manager for Wilary Winn, LLC, a financial consulting and valuation firm providing services to banks and credit unions across the nation. Amin specializes in determining fair value of structured fixed income securities, distressed loans, and consults on derivatives. Amin leads Wilary Winn analysts on valuations and stress-testing of Non-Agency Mortgage-Backed Securities and valuations of both Pooled Trust Preferred CDOs (TruP) and Single Issue Trust Preferred Securities. Amin also specializes in valuations of troubled debt restructuring and Purchased Credit Impaired (ASC 310-30) loan portfolios. Additionally, as a CPA, he uses his background to research and disseminate accounting guidance and best practices to the firm and clients. Outside of work, Amin’s interests are reading, learning new languages, and running. He hopes that this CGMA certification, along with his CPA license, will help him to provide better and valuable strategic insights to his financial institution clients.
Motivation to get the CGMA Designation
I work for a financial consulting firm and regularly advise executives of banks and credit unions on business strategy and help them navigate the risks and challenges facing their institutions. We use the principles of enterprise risk management to measure credit, liquidity, and interest rate risks facing a financial institution. Whether it is measuring the duration of assets and liabilities of a financial institution, or advising clients on the use of derivatives, it is my job to view the big picture strategy of the organization that I’m advising in order to make the most effective recommendations. As I began my search to enhance my skills to be more effective at my job, the CGMA designation clearly stood out as the most beneficial tool that would help me enhance my skills and be the best at my job.
Journey through taking the live and self-study learning and exam
The live course at the CGMA headquarters was a great learning experience. The course was very interactive and not only did I learn a lot from our instructor - Adrian Sims, I also learned a lot from the other attendees. We had CPAs from different functions and roles of accounting offering a diverse perspective to the challenges presented to the case in study. The self study materials were very helpful in strengthening and honing the skills tested on the exam.
Thoughts on the CGMA exam and format
I really liked the case study format of the CGMA exam as it is the most practical for professionals who are involved with, or are soon going to be involved with, the high level strategic decision making for their organizations. The format of the exam is different from the CPA exam, so it take a little practice to get comfortable with formulating well thought out solutions in a short span of time. Fortunately, the AICPA provides a lot of resources in the CGMA exam review course that are more than adequate in helping for preparing for the CGMA exam. In my opinion, the exam follows a simple format and has a clear description of the tasks.
The real-world business problems presented in the exam facilitates your thinking on your feet skills and allows you to draw knowledge from past experiences. I particularly liked learning about the theme park industry and drawing from my expertise from the financial institution industry to solve the challenges posed in the case study.
Value of going through the Program
The CGMA Program is truly a global credential and gave me broader perspective into the world of management accounting. The live review course was extremely helpful in this regard as the attendees came from diverse backgrounds. When you work in a particular industry, you become too focused on the nuances about that industry. The CGMA Program, and the live review course in particular, opened my perspective to other industries, and I believe that this is the greatest advantage of the CGMA Program. It is a great learning opportunity where you can gain insight on the best practices in the curriculum which applies to the industry that you work in and other industries, and apply it to get a competitive advantage for yourself and your organization. The structure of the CGMA exam truly fosters critical thinking while the curriculum also enhances your leadership and people skills.
I believe that the CGMA designation gives me a competitive edge when applying for a new job. The tools that the CGMA curriculum provides, in addition to the global component and the case study based exam, demonstrates a higher level of management accounting thinking. Organizations, including my firm, are beginning to realize the benefit of having staff members with the CGMA credential, which will give credential holders a definite edge when applying to management accounting positions.
I would definitely recommend the CGMA Program to my peers. It provides you with a set of tools to help and individual working in management accounting and their organization be successful. CGMA credential holders understand that the finance function is an integral partner in any organization’s success. In addition, the CGMA Program is only one of few Programs out there which is entirely focused on real world application that provides you with a set of tools which you can apply to your job immediately.
Value of obtaining the CGMA designation
The CGMA Program provided me with a diverse set of tools to help me make better decisions and recommendation for my diverse set of clients. No organization is the same, even within the same industry. However, each organization, particularly within the same industry, faces a similar set of challenges. For example, the biggest challenge facing the banking and credit union industry currently is navigating the low interest rate environment, while assessing the impact of potential rate increases. While the challenge faced is similar, each institution approaches this issue differently with different outcomes. We help our clients address this issue by stress testing an institution's capital and addressing asset concentrations. The CGMA credential gives me a broader perspective when advising my clients on interest rate risk management, and I’m also able to incorporate aspects of the enterprise risk management approach in my decision-making process. I can use the tools to measure and manage risk to drive a higher profitability for the organization that I’m consulting. The global component of the CGMA credential is important to any organization, and is particularly important to financial institutions, as global events have a direct impact on their earnings in most cases.