Top 10 Chief Compliance Officer Certifications

Certifications for a chief compliance officer are important in the job market because they demonstrate a certain level of expertise and knowledge. Certifications provide employers with evidence that an individual is qualified to perform the duties of a compliance officer. They also demonstrate that the individual has taken the time to stay up-to-date on current laws, regulations, and best practices related to their role as a compliance officer. Additionally, certifications can help applicants stand out from others when competing for jobs. As such, certifications are essential for any chief compliance officer who wants to succeed in the job market.

The purpose of this article is to review the top certifications for Chief Compliance Officers and explain how they can enhance a chief compliance officer's career.

What are Chief Compliance Officer Certifications?

Chief Compliance Officer (CCO) certification is a professional certification designed to demonstrate the knowledge and expertise of compliance professionals. It is awarded by various organizations, such as the Society of Corporate Compliance and Ethics (SCCE) and the International Association of Privacy Professionals (IAPP). The certification is meant to provide assurance that a candidate has met certain standards in terms of compliance knowledge and experience.

The CCO certification can help individuals in their career development by providing recognition for their skills and knowledge in the field of compliance. In addition, it can also provide employers with assurance that they have hired an experienced compliance professional who understands the importance of compliance within their organization. For organizations, having a certified CCO on staff can help to ensure that all employees are following applicable laws and regulations, as well as internal policies. This helps to mitigate risks associated with non-compliance, which can lead to costly penalties or legal issues. The CCO certification also serves as an additional layer of protection for organizations by providing assurance that their operations are conducted ethically and responsibly.

Pro Tip: Chief Compliance Officer certification can be an important step in ensuring that your organization meets regulatory requirements and industry standards. When selecting a certification program, be sure to research the credentials of the provider, as well as the content and duration of the course. Additionally, consider whether a remote or in-person option is best for you and your team.

Related: What does a Chief Compliance Officer do?

Top 10 Chief Compliance Officer Certifications

Here’s our list of the best certifications available to Chief Compliance Officers today.

1. Certified Compliance and Ethics Professional (CCEP)

Certified Compliance and Ethics Professional (CCEP) is a professional certification program developed by the Society of Corporate Compliance and Ethics (SCCE). It is designed to recognize those who have demonstrated a high level of knowledge and expertise in the field of corporate compliance and ethics.

The CCEP is an advanced-level certification that requires a minimum of three years of experience in the field, or an equivalent combination of education and experience. To obtain the CCEP, applicants must pass a comprehensive exam covering topics such as corporate compliance and ethics programs, risk management, legal issues, auditing, investigations, and more.

The exam consists of 200 multiple-choice questions divided into four sections: Foundations & Principles; Program Management; Investigations & Audits; and Legal & Regulatory Environment. The exam takes approximately four hours to complete.

The cost for the CCEP certification program is $1,995 USD for SCCE members ($2,495 USD for non-members). This fee includes access to study materials as well as one attempt at the CCEP exam.

2. Certified Compliance Officer (CCO)

A Certified Compliance Officer (CCO) is a professional who has achieved a specialized certification in the field of compliance. This certification demonstrates an individual's knowledge and expertise in the areas of regulatory compliance, risk management, and corporate governance. The CCO designation is awarded by the Compliance Certification Board (CCB), an independent, non-profit organization that administers the CCO program.

The CCO program requires applicants to pass a comprehensive exam that covers topics such as federal regulations, industry standards, ethical practices, and best practices for managing compliance programs. Applicants must also have at least two years of experience in compliance-related roles or equivalent education.

It typically takes about six months to complete the CCO program requirements. During this time, applicants must complete an online application form and submit their application fee ($495). After submitting their application materials and passing the exam, applicants will be notified of their acceptance into the program within four weeks.

The cost to become a Certified Compliance Officer includes an application fee of $495 plus any additional fees associated with taking the exam (such as study materials or proctoring fees). Once accepted into the program, there are no additional costs associated with maintaining your certification status.

3. Certified Regulatory Compliance Manager (CRCM)

A Certified Regulatory Compliance Manager (CRCM) is a professional designation that recognizes individuals who have achieved a high level of expertise in the field of regulatory compliance. The CRCM designation is offered by the Institute of Certified Bankers (ICB), which is part of the American Bankers Association.

To become a CRCM, applicants must have at least five years of experience in banking or financial services and must pass an exam administered by ICB. The exam covers topics such as consumer protection laws, anti-money laundering regulations, and bank operations. It typically takes about two months to prepare for the exam and complete all necessary requirements.

The cost to take the CRCM exam varies depending on whether you are an ABA member or non-member. For members, it costs $595; for non-members, it costs $795. In addition to the fee for taking the exam, there is also an annual maintenance fee of $150 to maintain your certification status.

4. Certified Anti-Money Laundering Specialist (CAMS)

Certified Anti-Money Laundering Specialist (CAMS) is a professional certification program offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS). It is designed to provide financial crime professionals with the knowledge and skills necessary to protect their organizations from money laundering, terrorist financing, and other financial crimes. The CAMS credential is recognized as the global standard for anti-money laundering specialists.

The CAMS certification process consists of three parts: an online application, a comprehensive exam, and continuing education requirements. The online application requires applicants to submit personal information such as name, address, contact information, employment history, and educational background. After submitting the application, applicants must pass a comprehensive exam that covers topics such as money laundering typologies and detection methods; risk assessment; customer due diligence; suspicious activity reporting; and compliance programs.

The CAMS exam takes approximately four hours to complete and costs $595 USD. To maintain the CAMS credential in good standing, certified individuals must complete at least 30 hours of continuing education every two years.

5. Certified Information Privacy Professional/Europe (CIPP/E)

Certified Information Privacy Professional/Europe (CIPP/E) is a certification issued by the International Association of Privacy Professionals (IAPP). It is designed to provide professionals with a comprehensive understanding of European data privacy laws and regulations. The CIPP/E credential demonstrates an individual's expertise in the area of data privacy, including the General Data Protection Regulation (GDPR), e-Privacy Directive, and other relevant EU legislation.

The CIPP/E certification requires passing a four-hour exam that consists of 150 multiple-choice questions. The exam covers topics such as data protection principles, rights of individuals, international data transfers, and enforcement. To be eligible for the exam, applicants must have two years' experience working in privacy or related fields.

To get certified, individuals must complete an online application and pay the $325 examination fee. After submitting their application and payment information, applicants will receive an email confirmation from IAPP containing instructions on how to schedule their exam date and location. The exam can be taken at any Pearson VUE testing center located around the world.

The cost for the CIPP/E certification is $325 USD plus applicable taxes. This fee includes access to study materials and one attempt at the four-hour exam. If you need to retake the exam, there is an additional fee of $150 USD plus applicable taxes.

6. Certified Fraud Examiner (CFE)

Certified Fraud Examiner (CFE) is a professional certification offered by the Association of Certified Fraud Examiners (ACFE). It is designed to equip individuals with the knowledge and skills to detect, investigate, and prevent fraud. The CFE credential is recognized as the global standard for anti-fraud professionals.

To become a Certified Fraud Examiner, you must meet certain eligibility requirements, including a minimum of two years of professional experience in fraud examination or related fields. You must also pass a rigorous four-hour exam that tests your knowledge of fraud detection and prevention. The exam consists of multiple-choice questions covering topics such as financial transactions, investigative techniques, legal elements of fraud, and more.

It typically takes about six months to prepare for the CFE exam. During this time, you should review the ACFE's study guide and take practice exams to become familiar with the content covered on the actual exam. Additionally, you can attend an ACFE seminar or webinar to gain additional insight into fraud examination practices.

The cost to become a Certified Fraud Examiner varies depending on your membership status with the ACFE. For non-members, it costs $400 USD to register for the exam; members pay $300 USD. In addition to these fees, there may be additional costs associated with attending seminars or webinars that are necessary for preparation.

7. Certified in Risk and Information Systems Control (CRISC)

Certified in Risk and Information Systems Control (CRISC) is a certification offered by the Information Systems Audit and Control Association (ISACA). It is designed to help IT professionals gain the knowledge and skills they need to effectively identify, assess, control, monitor, and report on information systems risks. The CRISC certification is based on a comprehensive body of knowledge that covers four domains: Risk Identification, Risk Assessment, Risk Response & Mitigation, and Risk & Control Monitoring & Reporting.

The CRISC certification requires passing an exam consisting of 150 multiple-choice questions. The exam takes approximately four hours to complete. To qualify for the exam, applicants must have at least three years of experience in two or more of the four CRISC domains within the past 10 years.

To get certified in CRISC, applicants must first register for the exam with ISACA. The cost of registration varies depending on whether you are a member or non-member of ISACA; members pay $575 USD while non-members pay $760 USD. After registering for the exam, applicants can then study for it using materials provided by ISACA such as books and online courses. Finally, after passing the exam, applicants will receive their CRISC certification from ISACA.

8. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute to financial and investment professionals. It is considered one of the most respected and sought-after credentials in the finance industry. The CFA Program is a graduate-level, self-study program covering topics such as economics, accounting, portfolio management, security analysis, ethics, and more. To become a CFA charterholder, candidates must pass three exams administered by the CFA Institute.

The CFA Program typically takes between two to four years to complete depending on how much time you are able to commit to studying for each exam. Each exam consists of 240 multiple choice questions and must be completed within six hours.

To get started with the CFA Program, you will need to register with the CFA Institute and pay an enrollment fee. After registering for the program, you will have access to study materials such as textbooks and practice exams. You will also need to take a proctored exam at an authorized testing center on one of three dates throughout the year.

The cost of enrolling in the CFA Program can vary depending on your location and other factors but generally ranges from $1,000-$2,500 USD for all three levels of exams combined. This cost includes registration fees for each exam as well as access to study materials such as textbooks and practice exams.

9. Global Association of Risk Professionals Certification (GARP FRM)

The Global Association of Risk Professionals (GARP) Financial Risk Manager (FRM) certification is a globally recognized professional designation for risk managers. It is designed to provide a comprehensive understanding of financial risk management and is the most widely accepted certification for risk professionals.

The FRM certification consists of two parts: Part I and Part II. The program covers topics such as quantitative analysis, financial markets and products, valuation and risk models, credit risk, market risk, operational risk and current issues in financial markets.

It typically takes about one year to complete the FRM program. Candidates must pass both Part I and Part II exams within four years of starting the program in order to receive their certification.

To get the FRM certification, candidates must register with GARP and pay an initial registration fee of $450 USD. This fee includes access to the online learning system which provides study materials such as practice questions, video lectures and webinars. Additionally, candidates must pay exam fees for each part they take; these fees range from $400-$650 USD depending on when you register for the exam.

Overall, it costs approximately $1125 USD to get your GARP FRM certification if you take both parts at once ($450 registration fee + $650 exam fee).

10. Financial Industry Regulatory Authority Series 24 License

The Financial Industry Regulatory Authority (FINRA) Series 24 license is a securities license that allows individuals to act as a General Securities Principal. This license authorizes the holder to supervise, manage and direct the activities of broker-dealer firms and their associated persons in the areas of trading, operations, customer accounts, and corporate finance.

It takes approximately 3-4 months to obtain the FINRA Series 24 license. The first step is to register with FINRA by completing Form U4. Once registered, you must pass the FINRA Series 24 exam which consists of 125 multiple choice questions. After passing the exam, you will be issued your FINRA Series 24 license.

The cost for taking the FINRA Series 24 exam varies depending on your state but typically ranges from $125-$175.

Do You Really Need a Chief Compliance Officer Certificate?

The answer to this question depends on the particular needs of an organization. A Chief Compliance Officer (CCO) Certificate is a professional credential that is awarded to individuals who demonstrate a mastery of compliance principles and practices. This certification can be beneficial for organizations that want to ensure they are meeting the highest standards of ethical business practices, as well as regulatory and legal requirements.

For organizations that have complex compliance requirements, a CCO Certificate may be necessary in order to demonstrate competency in the field of compliance. In some cases, it may even be required by law or regulation in order to hold certain positions within an organization. Additionally, having a CCO Certificate can provide employers with greater confidence when hiring individuals for roles within their organization.

In other cases, however, an organization may not need a CCO Certificate. For example, if an organization only has basic compliance requirements or if the employees are already familiar with these principles and practices, then there may not be a need for this certification. Ultimately, it is up to each individual organization to decide whether or not obtaining a CCO Certificate is necessary for their particular circumstances.

Related: Chief Compliance Officer Resume Examples

FAQs About Chief Compliance Officer Certifications

1. What is a Chief Compliance Officer Certification?

Answer: A Chief Compliance Officer Certification is a professional certification that demonstrates an individual’s knowledge and experience in the field of corporate compliance. It is designed to validate an individual’s expertise in topics related to corporate compliance, such as risk management, audit, legal, and regulatory requirements.

2. Who should pursue a Chief Compliance Officer Certification?

Answer: The CCO certification is ideal for individuals who are currently working in the compliance field or those who are looking to transition into this specialized area of expertise. It is also beneficial for experienced professionals who want to demonstrate their commitment to excellence in the field of corporate compliance.

3. What are the prerequisites for obtaining a Chief Compliance Officer Certification?

Answer: Most certifying bodies require applicants to have at least five years of experience in the compliance field, as well as a bachelor’s degree from an accredited college or university. Depending on the certifying body, additional qualifications may be required such as specific work experience or training courses.

4. How long does it take to become certified as a Chief Compliance Officer?

Answer: The amount of time it takes to obtain a CCO certification depends on the certifying body you choose and your current level of compliance knowledge and experience. Generally speaking, it could take anywhere from six months up to one year or more depending on your particular situation and goals.

5. How much does it cost to become certified as a Chief Compliance Officer?

Answer: The cost of becoming certified varies by certifying body and can range from several hundred dollars up to several thousand dollars depending on what type of certification you are seeking and any additional requirements associated with obtaining your certification (e.g., training courses).