Top 11 Compliance Examiner Certifications

Certifications are crucial for a compliance examiner in the job market because they demonstrate that the individual has the necessary knowledge, skills, and expertise to be successful in the role. By obtaining certifications, compliance examiners can show potential employers that they have a strong understanding of industry regulations and are capable of performing their duties effectively. Certifications also help establish credibility for individuals seeking positions as compliance examiners and provide employers with assurance that the individual is dedicated to staying up-to-date on changes in the field. Additionally, certifications can be used to further advance one’s career by providing access to more specialized roles within an organization.

The purpose of this article is to review top certifications for Compliance Examiners and explain how they can help to advance a Compliance Examiner's career.

What are Compliance Examiner Certifications?

Compliance Examiner Certification is a professional certification that demonstrates an individual’s expertise in the field of regulatory compliance. It is designed to recognize individuals who have achieved a high level of proficiency and knowledge in the area of regulatory compliance, including the ability to develop and implement comprehensive compliance programs, conduct risk assessments, and provide guidance on regulatory issues.

By obtaining this certification, individuals can demonstrate their expertise in the field of regulatory compliance to employers and clients. This certification can be used as evidence that an individual has completed rigorous training and holds a deep understanding of relevant laws, regulations, and best practices related to compliance. In addition, having this certification may give individuals an edge when competing for certain jobs or contracts. Furthermore, it can help increase job security by providing assurance that employees are well-versed in current regulations and best practices related to compliance. Ultimately, Compliance Examiner Certification can help ensure that businesses remain compliant with all applicable laws and regulations while also helping professionals stay ahead of changes in the industry.

Pro Tip: When considering a compliance examiner certification, research the requirements for the specific exam you are taking. Most certifications have prerequisites that must be met in order to qualify for the exam, such as experience or education. Additionally, make sure to familiarize yourself with the scope of the exam and any applicable laws or regulations before taking it.

Related: What does a Compliance Examiner do?

Top 11 Compliance Examiner Certifications

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

1. Certified Regulatory Compliance Manager (CRCM)

Certified Regulatory Compliance Manager (CRCM) is a professional certification for individuals who have extensive knowledge and experience in the area of regulatory compliance. The CRCM credential is awarded by the Institute of Certified Bankers, a division of the American Bankers Association.

To become certified as a CRCM, individuals must meet certain educational and experience requirements and pass an exam administered by the Institute of Certified Bankers. To be eligible to take the exam, applicants must have at least three years of compliance-related work experience or two years plus a college degree in a related field.

The CRCM exam consists of 200 multiple-choice questions covering topics such as consumer protection laws, fair lending practices, anti-money laundering regulations, and bank security measures. The exam takes about four hours to complete and is offered twice each year in April and October.

The cost for taking the CRCM exam is $395 for members of the American Bankers Association and $495 for non-members. In addition to this fee, applicants may also need to pay additional fees for study materials or training courses that are available from third-party providers.

2. Certified Anti-Money Laundering Specialist (CAMS)

A Certified Anti-Money Laundering Specialist (CAMS) is a professional certification that demonstrates an individual’s expertise in the field of anti-money laundering (AML). The CAMS credential is offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), and it is recognized as the gold standard for AML certifications.

To get the CAMS certification, individuals must complete a series of steps. First, they must pass a rigorous exam that tests their knowledge of AML regulations and practices. The exam consists of 150 multiple choice questions and takes approximately three hours to complete. After passing the exam, individuals must also submit proof of two years of full-time work experience in an AML role or related field.

The cost for the CAMS certification depends on several factors, such as whether you are an ACAMS member or nonmember, if you opt for self-study materials or virtual training courses, and if you choose to take the exam online or at a testing center. Generally speaking, it can cost anywhere from $400 to $1,500 USD to become certified.

Overall, obtaining a CAMS certification requires dedication and hard work but can be worth it in terms of career advancement opportunities and salary potential.

3. Certified Financial Services Auditor (CFSA)

Certified Financial Services Auditor (CFSA) is a professional certification program offered by the Institute of Internal Auditors (IIA). The CFSA designation indicates that a financial services auditor has achieved a level of proficiency in auditing and assurance services. The certification is designed to provide assurance to employers, clients, and other stakeholders that the individual has the knowledge and skills necessary to perform financial services audits in accordance with professional standards.

To become a Certified Financial Services Auditor (CFSA), an individual must meet certain requirements set forth by the IIA. These requirements include:

• Holding an undergraduate degree from an accredited college or university;
• Having at least three years of experience in internal auditing, external auditing, or related fields;
• Passing an examination administered by the IIA; and
• Completing continuing professional education requirements.

The CFSA exam consists of 150 multiple-choice questions covering topics such as risk management, internal controls, audit methodology, information technology, and regulatory compliance. It typically takes four hours to complete the exam. In order to maintain their certification status, CFSA holders must complete at least 40 hours of continuing professional education every two years.

The cost for taking the CFSA exam varies depending on where you take it. Generally speaking, it costs around $400-$500 USD to take the exam.

4. Certified Information Systems Auditor (CISA)

Certified Information Systems Auditor (CISA) is a certification issued by the Information Systems Audit and Control Association (ISACA). It is designed to recognize professionals who have achieved a level of proficiency in auditing, control, and security of information systems.

The CISA certification requires that applicants possess five years of professional experience in information systems audit, control, or security. Applicants must also pass an exam administered by ISACA. The exam consists of 150 multiple-choice questions covering topics such as IT governance, risk management, service delivery and support processes, application development and maintenance processes, business continuity planning and disaster recovery planning.

The cost for the CISA certification varies depending on the country you are applying from. In the United States, it typically costs around $400 for ISACA members and $450 for non-members.

It typically takes between 6 months to 1 year to prepare for the CISA exam. This includes studying for the exam itself as well as gaining relevant experience in information systems audit, control or security.

5. Certified Bank Auditor (CBA)

Certified Bank Auditor (CBA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is designed to provide assurance that bank auditors have the necessary knowledge, skills and abilities to perform their duties effectively. The CBA designation is recognized internationally as a mark of excellence in banking audit.

The CBA program requires candidates to have at least five years of professional experience in banking or related financial services, including two years of internal audit experience. Candidates must also pass an examination administered by the IIA. The exam consists of multiple-choice questions covering topics such as risk management, internal control systems, financial statement analysis, and regulatory compliance.

It typically takes between nine months and one year to complete the CBA program. During this time, candidates must complete all required coursework and pass the exam.

The cost for the CBA program varies depending on whether you are a member or non-member of the IIA. For members, it costs $1,350 USD; for non-members it costs $1,800 USD. This fee covers all materials needed to complete the program, including textbooks and online resources.

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

Certified in Risk and Information Systems Control (CRISC) is a certification program offered by ISACA, a global association of IT professionals. The CRISC certification is designed to recognize individuals who have the knowledge and experience to identify, assess, and manage IT risks. It validates an individual’s ability to design, implement, monitor and maintain information systems controls that mitigate enterprise risk.

The CRISC exam consists of four domains: Risk Identification, Risk Assessment, Risk Response & Mitigation and Risk & Control Monitoring & Reporting. It takes approximately three hours to complete the exam which includes 150 multiple-choice questions.

To be eligible for the CRISC certification you must meet the following requirements:

• Have at least three years of cumulative work experience in two or more of the CRISC domains
• Submit an application with proof of your work experience
• Pass the exam
• Agree to abide by ISACA’s Code of Professional Ethics

The cost for taking the CRISC exam is $575 for ISACA members and $760 for non-members. The cost also includes access to study materials such as practice exams and reference books.

7. Professional Risk Manager (PRM)

Professional Risk Manager (PRM) is a certification program that was created by the Professional Risk Managers’ International Association (PRMIA). It is designed to provide professionals with the knowledge and skills necessary to manage risk in the financial services industry. The PRM designation is recognized as an international standard of excellence for risk management professionals.

The PRM certification process involves three levels: Foundation, Professional, and Expert. Each level requires a different amount of study and examination.

The Foundation Level takes approximately two months to complete and consists of four exams covering topics such as risk management principles, quantitative methods, legal aspects of risk management, and operational risk management. After successfully completing the Foundation Level exams, individuals are eligible to apply for the Professional Level which requires an additional two months of study and examination. The Professional Level covers topics such as credit risk management, market risk management, enterprise-wide risk management, derivatives markets and instruments, and financial engineering. Finally, after passing all four exams at the Professional Level, individuals can then apply for the Expert Level which requires an additional two months of study and examination. The Expert Level covers topics such as advanced quantitative methods in finance and economics, asset liability management techniques in banking institutions, stress testing techniques in financial institutions, investment strategies for pension funds and endowments, advanced derivative pricing models in financial engineering.

The cost for each level varies depending on whether you are a member or non-member of PRMIA. For members it ranges from $1125-$1750 USD per exam while non-members pay $1375-$2250 USD per exam.

In order to receive your PRM designation you must pass all four exams at each level within a five year period from when you initially passed your first exam at the Foundation Level. Once you have completed all four levels within this five year period you will be awarded your PRM designation from PRMIA.

8. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. The CFA program is designed to provide investment professionals with the knowledge and skills they need to make sound financial decisions. It is considered one of the most prestigious qualifications in the world of finance and investments.

The CFA program consists of three levels of examinations that must be completed in order to receive the designation. Each level typically takes about six months to complete, although some candidates may take longer or shorter depending on their experience and study habits. The exams cover topics such as ethics, economics, accounting, quantitative methods, portfolio management, and security analysis.

To become a CFA charterholder, you must have at least four years of qualified work experience in an investment-related field or have earned a bachelor’s degree from an accredited college or university. You also must pass all three levels of the CFA exam within four years and meet other requirements set by the CFA Institute.

The cost for taking each level of the CFA exam varies depending on when you register for it; however, it typically costs around $1,000 per level plus additional fees for registration and materials.

9. Chartered Alternative Investment Analyst (CAIA)

The Chartered Alternative Investment Analyst (CAIA) is a professional designation for financial professionals who specialize in alternative investments. It is the only credential of its kind that focuses exclusively on alternative investments such as hedge funds, private equity, commodities, real estate and structured products. The CAIA program was created by the Chartered Alternative Investment Association (CAIA) in 2002 to provide a comprehensive education and certification program for those working in the alternative investment industry.

The CAIA program consists of two levels of exams: Level I and Level II. To become certified, candidates must pass both exams and have at least two years of relevant work experience. The Level I exam covers topics such as alternative asset classes, portfolio management strategies and risk management techniques. The Level II exam focuses on more advanced topics such as derivatives, structured products and portfolio construction techniques.

In order to register for the CAIA exams, candidates must first become members of the CAIA Association. Membership costs $795 USD per year plus applicable taxes and fees. Once registered, candidates can purchase study materials from the CAIA website or from third-party vendors. The cost of these materials ranges from $200-$500 USD depending on which materials are purchased.

It typically takes between six months and one year to complete both levels of the CAIA program depending on how much time a candidate has available to dedicate to studying for the exams. Candidates who successfully pass both exams will receive their official Chartered Alternative Investment Analyst designation from the CAIA Association.

10. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is designed to recognize individuals who have demonstrated competence in the field of internal auditing. The CIA credential is recognized worldwide as a symbol of excellence and professionalism in the field of internal auditing.

The CIA certification requires passing three exams, which can be taken at any time throughout the year. The exams cover topics such as risk management, control systems, governance and compliance, financial management, information technology, and fraud prevention. Each exam consists of 150 multiple-choice questions and must be completed within four hours.

To become certified, applicants must meet certain educational requirements and have two years of professional experience in internal auditing or a related field. Applicants must also agree to abide by the IIA's Code of Ethics and Standards of Practice for Internal Auditors.

The cost to take all three exams is $1,500 USD ($500 per exam). Additionally, there are fees associated with applying for the certification ($100 USD) and maintaining it ($125 USD annually).

11. Certified Fraud Examiner (CFE).

Certified Fraud Examiner (CFE) is a professional certification issued by the Association of Certified Fraud Examiners (ACFE). The CFE credential is designed to recognize individuals who have demonstrated expertise in detecting and preventing fraud. The CFE credential is recognized as the global standard for anti-fraud professionals.

To become a CFE, candidates must complete an online application, pass a comprehensive four-hour exam, and sign the ACFE's Code of Professional Ethics. The exam covers topics such as fraud prevention, detection, investigation, law and ethics.

The time it takes to get the CFE credential depends on how quickly you can complete the application process and study for the exam. It typically takes between three months and one year to complete all of the requirements.

The cost of becoming a CFE varies depending on your country of residence. In the United States, it costs $325 to apply for the exam plus an additional $190 for each part of the exam that you take. In Canada, it costs $375 to apply plus an additional $215 for each part of the exam that you take. Other countries may have different fees associated with taking the exam.

Once you are certified as a CFE, there are annual maintenance fees associated with maintaining your certification status. These fees vary from country to country but generally range from $100-$200 per year depending on your country of residence.

Do You Really Need a Compliance Examiner Certificate?

The answer to this question depends on the context in which it is being asked. If someone is asking if they need a Compliance Examiner Certificate in order to work as a compliance examiner, then the answer is yes. Compliance examiners must have certain qualifications and knowledge in order to be able to carry out their duties effectively. A Compliance Examiner Certificate provides proof that an individual has met the requirements of the profession, and demonstrates that they have the necessary skills and knowledge to do their job correctly.

On the other hand, if someone is asking whether or not they need a Compliance Examiner Certificate for another purpose, such as personal development or professional recognition, then the answer may be no. In this case, it would depend on what type of recognition or advancement an individual seeks. For example, some employers may require applicants for certain positions to hold a certificate from a certifying body such as The International Association of Certified Compliance Examiners (IACCE). Other employers might accept individuals who have completed relevant training courses or undergone an evaluation process without necessarily requiring them to possess a certificate. Ultimately, it is up to each individual to decide if they need a Compliance Examiner Certificate in order to reach their goals.

Related: Compliance Examiner Resume Examples

FAQs About Compliance Examiner Certifications

1. What are the requirements for becoming a Compliance Examiner?

Answer: The requirements to become a Compliance Examiner vary depending on the jurisdiction, but typically include a minimum of three years of experience in banking compliance or related field, completion of certain courses and certifications, and passing an examination.

2. How long does it take to get certified as a Compliance Examiner?

Answer: It usually takes several months to complete the necessary training and examinations in order to become certified as a Compliance Examiner.

3. What type of job opportunities are available for Certified Compliance Examiners?

Answer: Certified Compliance Examiners can work in banking, financial services, insurance, or other related industries in positions such as risk management consultants, compliance officers, auditors, or regulators.

4. Are there any continuing education requirements for maintaining Certification?

Answer: Yes, most jurisdictions require that Certified Compliance Examiners complete regular continuing education courses in order to maintain their certification status.

5. Is there an exam fee associated with obtaining Certification?

Answer: Yes, most jurisdictions charge an exam fee for obtaining certification. The exact amount varies depending on the jurisdiction and the type of certification being sought.