Compliance and all that it entails has been gaining plenty of prominence recently. As a result, we’ve seen an upsurge in the number of compliance-related certification and training programs. Professionals in various fields, including the financial services sector, have been exploring these programs to either start a career in the compliance world or refine their skills to help their companies better meet regulatory obligations.
These compliance certifications and training programs come in all shapes and sizes. Some are very specific, focusing on distinct topics such as anti-money laundering (AML), customer due diligence (CDD), and Know Your Client (KYC), while others take a more comprehensive approach, broaching compliance as a whole.
Below is a summary of some of the main compliance certificates and training programs available, especially for those interested in the United Kingdom. Review them and choose according to your goals and interests.
Association of Certified Anti-Money Laundering Specialists (ACAMS)
The Association of Certified Anti-Money Laundering Specialists (ACAMS) is one of the largest international organizations dedicated to the battle against financial crime. With members in over 175 countries, ACAMS provides a significant certification and networking platform offering continuous professional education opportunities and support in developing and improving anti-financial crime capabilities.
Main Certification Programs:
- Certified Anti-Money Laundering Specialist (CAMS)
- Certified Global Sanctions Specialist (CGSS)
Advantages:
- Availability in multiple languages
- Comprehensive online study materials
- Continuing professional education opportunities
Requirements:
- Must be an ACAMS member
- Equivalent of 40 ACAMS credits to apply for certification
International Governance & Compliance Association (IGCA)
The International Governance & Compliance Association (IGCA) was founded in 2020 as an international accreditation and certification institution, also serving as a networking platform for professionals in Compliance, Risk, Cybersecurity, and Governance (GRCC).
Main Certification Programs:
- Certificate in AML
- Certificate in KYC & CDD
- Certificate in Compliance
Advantages:
- One-year free IGCA membership
- Comprehensive training, support, and certification
- Self-paced interactive learning with real-life case studies
- Affordable programs without compromising quality
International Compliance Association (ICA)
Founded 20 years ago, the International Compliance Association (ICA) has grown to boast 150,000 members in over 150 countries. The ICA aims to enhance the global compliance community's performance and promote ethical business conduct.
Main Certification Programs:
- ICA Certificate in Compliance
- ICA Certificate in AML
- ICA Certificate in KYC & CDD
- ICA Certificate in Financial Crime Prevention
- ICA Certificate in Managing Sanctions Risk
Advantages:
- Certificates awarded in conjunction with the Alliance Manchester Business School, University of Manchester
- Various levels of specialization
- Apprenticeships available for learning while working
Association of Certified Financial Crime Specialists (ACFCS)
The Association of Certified Financial Crime Specialists (ACFCS) was established by a diverse group of professionals and has evolved to incorporate a broad range of financial crime topics into its AML certification programs.
Main Certification Program:
- Certified Financial Crime Specialist (CFCS)
Advantages:
- Holistic approach to AML, covering various financial crime issues
- Training that bridges professionals from different areas of expertise, such as law enforcement and regulatory compliance
Other Noteworthy Certifications
If the above options don’t meet your needs, consider these alternatives:
- Certified Fraud Examiner (CFE) by the Association of Certified Fraud Examiners (ACFE)
- Certified Compliance & Ethics Professional (CCEP) by the Society of Corporate Compliance and Ethics (SCCE) and the Compliance Certification Board (CCB)
- Certified Regulatory Compliance Manager (CRCM) by the American Bankers Association (ABA)
- Leadership Professional in Ethics and Compliance (LPEC) by The Ethics & Compliance Initiative (ECI)
- Certified Compliance Professional (CCP) by the International Academy of Business & Financial Management (IABFM)
Regardless of your choice, there are plenty of options available that cater to different budgets, areas of focus, and delivery methods. Choosing the right certification can significantly boost your career in compliance and ensure your organization meets its regulatory obligations effectively.
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