Top 11 Compliance Manager Certifications

Certifications are important for a compliance manager in the job market because they demonstrate a level of knowledge and experience that employers look for when hiring. Certification provides assurance to employers that the candidate has the necessary skills and qualifications to perform their duties as a compliance manager. Certifications also show potential employers that the individual has taken initiative and is committed to continuing their professional development. Additionally, certifications provide recognition from industry experts and organizations, which can be highly beneficial in a competitive job market.

This article reviews the top certifications for Compliance Managers and explains how they can help to advance a compliance manager's career.

What are Compliance Manager Certifications?

Compliance Manager Certification is a program designed to help professionals in the field of compliance management gain the knowledge and skills necessary to succeed in the industry. This certification is issued by organizations such as the Compliance Management Association (CMA) and provides individuals with a comprehensive understanding of the principles, processes, and practices of effective compliance management. By earning this certification, professionals are able to demonstrate their commitment to excellence in their profession as well as their dedication to upholding ethical standards.

The Compliance Manager Certification program covers topics such as risk assessment, corporate governance, regulatory requirements, internal controls, audit process management, and data privacy. It also provides guidance on how to develop and implement an effective compliance program that meets all applicable laws and regulations. Additionally, it helps individuals understand the importance of communication between various stakeholders within an organization to ensure compliance with laws and regulations.

By having a formal certification program like this available for professionals in the industry, companies can be confident that those working in compliance management have been trained in best practices for managing risks associated with non-compliance. This also helps companies maintain a positive reputation which can lead to increased customer trust and loyalty. In addition, having certified employees on staff can help reduce costs associated with potential legal issues due to non-compliance or other violations of law or regulation.

Pro Tip: If you are considering a career as a Compliance Manager, it is important to get certified in the field. A certification program will give you the skills and knowledge necessary to effectively manage compliance programs and ensure that your organization meets all applicable regulations. Additionally, having a certification can make you more attractive to employers and can help you advance your career.

Related: What does a Compliance Manager do?

Top 11 Compliance Manager Certifications

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

1. Certified Compliance and Ethics Professional (CCEP)

Certified Compliance and Ethics Professional (CCEP) is a certification program offered by the Society of Corporate Compliance and Ethics (SCCE). The CCEP certification is designed to recognize compliance and ethics professionals who have demonstrated a commitment to excellence in the field.

The CCEP certification requires applicants to have at least three years of experience in compliance or ethics, as well as completion of an approved course. The course covers topics such as developing and maintaining effective compliance programs, understanding legal requirements, managing risk, and ethical decision-making. Once all of the requirements have been met, applicants must pass an exam administered by SCCE.

The process typically takes several months to complete depending on how quickly you can complete the required coursework. It can cost anywhere from $2,000-$4,000 USD depending on which courses you choose to take and whether or not you are eligible for any discounts.

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

Certified Information Privacy Professional/Europe (CIPP/E) is a professional certification program offered by the International Association of Privacy Professionals (IAPP). The CIPP/E credential is designed to help organizations ensure compliance with data protection laws and regulations in the European Union. It provides privacy professionals with the knowledge and skills needed to effectively manage and protect personal information in compliance with EU data protection laws.

The CIPP/E certification requires a minimum of 40 hours of study, including self-study, online training, or classroom instruction. The exam consists of multiple choice questions based on the IAPP's Certified Information Privacy Professional/Europe (CIPP/E) curriculum. The exam fee is $550 USD for members of the IAPP and $650 USD for non-members.

To become certified, applicants must pass a written examination that tests their knowledge of EU data protection laws and regulations as well as their ability to apply this knowledge to real-world scenarios. Applicants must also demonstrate experience in privacy management or related fields such as law, IT security, or risk management.

Once certified, CIPP/E holders are required to maintain their certification by completing continuing education activities every two years.

3. Certified Information Privacy Manager (CIPM)

A Certified Information Privacy Manager (CIPM) is a professional certification that demonstrates expertise in the field of information privacy. The CIPM credential is offered by the International Association of Privacy Professionals (IAPP), a global non-profit organization dedicated to advancing responsible data protection practices.

The CIPM program consists of two parts: an online training course and an exam. The online course takes approximately 15 hours to complete, depending on the individual’s learning style and experience level. The exam is three hours long and covers topics such as privacy principles, legal frameworks, risk management, data security, and compliance requirements.

To get the CIPM credential, individuals must first complete the online training course and then pass the exam with a score of 70% or higher. After passing the exam, applicants will be awarded their CIPM certificate from IAPP.

The cost for taking the CIPM program varies depending on whether you are an IAPP member or not. For non-members, it costs $1,295 USD while members pay $995 USD.

4. Certified Regulatory Compliance Manager (CRCM)

Certified Regulatory Compliance Manager (CRCM) is a professional certification program offered by the Institute of Certified Bankers (ICB), a subsidiary of the American Bankers Association. The CRCM designation is designed to recognize individuals who have demonstrated proficiency in managing regulatory compliance within their organizations.

The CRCM program consists of three parts: an online self-study course, a comprehensive exam, and continuing education requirements. The self-study course covers topics such as banking regulations, compliance management principles and practices, risk management strategies, and ethics. The comprehensive exam tests knowledge of the material presented in the self-study course. Successful completion of both parts is required for certification.

The cost for the entire program varies depending on membership status with ICB and other factors; however, it typically ranges from $1,200 to $2,000 USD. It usually takes about six months to complete all requirements for certification.

To get started on the path toward earning the CRCM designation, individuals must first join ICB as a member or affiliate member. Once membership has been established, individuals can register for the self-study course and take the exam when ready. Upon successful completion of both parts, individuals will be awarded their CRCM certification.

5. Certified Anti-Money Laundering Specialist (CAMS)

Certified Anti-Money Laundering Specialist (CAMS) is a professional certification offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS). The CAMS certification is designed to recognize individuals who demonstrate expertise in anti-money laundering compliance and financial crime prevention. It is the most widely recognized anti-money laundering certification for professionals working in the field.

The CAMS certification program consists of an online exam, which tests a candidate's knowledge of anti-money laundering laws, regulations, and compliance procedures. The exam covers topics such as money laundering typologies, customer due diligence, suspicious activity reporting, risk assessment, and more. The exam consists of multiple choice questions and can be taken at any time from anywhere with internet access.

The cost of the CAMS exam is $500 USD for ACAMS members and $650 USD for non-members. Once registered for the exam, candidates have up to one year to take it before their registration expires. Candidates must pass the exam with a score of 70% or higher in order to earn their CAMS certification.

In addition to passing the exam, applicants must also meet certain eligibility requirements in order to become certified. These include having two years of experience in an AML/CTF related role or completing a minimum number of hours of relevant continuing education courses within five years prior to applying for certification.

Overall, obtaining a CAMS certification requires dedication and commitment but can open up many career opportunities in the field of financial crime prevention and anti-money laundering compliance.

6. Certified Risk Professional (CRP)

Certified Risk Professional (CRP) is a professional designation offered by the Global Association of Risk Professionals (GARP). The CRP program recognizes individuals who have demonstrated expertise in the field of risk management. This certification is designed to provide professionals with the knowledge, skills, and abilities necessary to effectively manage risks in today’s global environment.

The CRP program consists of two parts: a course and an exam. The course is typically completed online over a period of six weeks and covers topics such as risk identification, assessment, control, and monitoring. After completing the coursework, candidates must pass an exam to receive their certification.

To be eligible for the CRP program, candidates must have at least five years of experience in risk management or related fields. Candidates must also have either a bachelor’s degree or equivalent work experience in order to qualify for the exam.

The cost of the CRP program varies depending on whether you choose to take the online course or attend an instructor-led class. The online course costs $1,495 USD while the instructor-led class costs $2,195 USD. Additionally, there is a one-time fee of $250 USD for taking the exam.

Overall, obtaining your Certified Risk Professional designation can take anywhere from 6 weeks to several months depending on your availability and how quickly you are able to complete both parts of the program.

7. Certified Financial Services Auditor (CFSA)

Certified Financial Services Auditor (CFSA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is designed for internal auditors who specialize in financial services, such as banking, insurance, and investments. The CFSA credential demonstrates that the holder has a comprehensive understanding of financial services audit principles, practices, and procedures.

It typically takes between two and four years to complete the requirements for the CFSA certification. To become certified, applicants must meet educational requirements and pass an examination. Applicants must have a bachelor’s degree from an accredited college or university in accounting, finance, or business administration; at least two years of experience in financial services audit; and completion of the IIA’s Certified Financial Services Auditor Course.

The cost to apply for the CFSA certification varies depending on location. In the United States, it costs $225 to apply for the exam and $375 to take it. There are also additional fees associated with recertification every three years.

8. Certified in Risk Management Assurance (CRMA)

Certified in Risk Management Assurance (CRMA) is a certification program offered by the Institute of Internal Auditors (IIA). It is designed to provide assurance professionals with the knowledge and skills required to identify, assess, and manage risk within an organization.

The CRMA credential requires candidates to have a minimum of three years of experience in internal auditing or related fields. Candidates must also pass an exam that covers topics such as enterprise risk management, audit processes, and internal controls.

To get the CRMA certification, you must first register with IIA and pay the registration fee. Once registered, you can take an online self-study course or attend a live seminar. The course takes approximately 40 hours to complete and covers all the topics necessary for passing the exam. After completing the course, you must then pass the two-part exam which consists of multiple-choice questions and written sections.

The cost for obtaining the CRMA certification varies depending on if you take an online self-study course or attend a live seminar. The registration fee is $250 USD plus any additional fees for materials or exams.

9. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. It is one of the most respected and recognized qualifications in the finance industry. The CFA program covers topics such as economics, accounting, ethics, portfolio management, equity analysis and fixed income analysis.

The CFA program consists of three levels that must be completed in sequence. Each level requires approximately 300 hours of study and takes an average of two to four years to complete. To become a CFA charterholder, candidates must pass all three levels of the exam and have four years of qualified work experience in the investment decision-making process.

To get started on the CFA Program, you will need to register with the CFA Institute and pay an enrollment fee. This fee includes access to study materials for each level of the exam as well as registration for that level's exam. The cost for each level varies from year to year but generally ranges from $650-$1,000 USD per level.

10. Chartered Institute of Internal Auditors Qualification (CIIAQ)

The Chartered Institute of Internal Auditors Qualification (CIIAQ) is a professional qualification designed to equip internal auditors with the necessary skills and knowledge to carry out their roles effectively. It is awarded by the Chartered Institute of Internal Auditors (CIIA), which is an independent, international professional body for internal auditing.

The CIIAQ consists of three levels: Foundation, Practitioner and Professional. The foundation level provides an introduction to the principles and practice of internal auditing, while the practitioner and professional levels build on this knowledge to provide more advanced training in areas such as risk management, governance and control.

It takes approximately 18 months to complete all three levels of the CIIAQ. To get the qualification, you must pass a series of exams that assess your understanding of the topics covered in each level. Exams are held twice a year at approved exam centres around the world.

The cost of taking the CIIAQ exams varies depending on where you take them – typically it costs between £250-£500 per exam. You may also need to pay additional fees for course materials or other related costs such as travel expenses or accommodation if you are travelling to take your exams.

In addition to passing the exams, you will also need to meet certain eligibility criteria in order to be awarded the CIIAQ qualification. This includes having at least two years’ experience in an internal audit role, or having completed relevant training courses or qualifications related to internal auditing.

11. International Compliance Association Qualification (ICAQ).

The International Compliance Association (ICA) Qualification is a globally recognized qualification for compliance professionals. It provides comprehensive training and certification in the field of compliance and risk management. This qualification is designed to equip individuals with the knowledge, skills, and understanding required to work in a compliance role within any organization.

The ICAQ consists of three levels: Foundation, Professional, and Advanced. Each level has its own set of modules that cover a range of topics such as anti-money laundering, data protection, financial crime prevention, corporate governance, fraud prevention and detection, legal aspects of compliance, risk management frameworks and more. The Foundation level is suitable for those who are new to the field of compliance or have limited experience in the area. The Professional level is aimed at those with some experience in the field who wish to deepen their knowledge and understanding. The Advanced level is designed for experienced professionals who want to develop an expert-level understanding of all aspects of compliance.

The duration of each ICAQ course varies depending on which level you choose to pursue. Generally speaking, it takes around 12 months to complete the Foundation Level course; 18 months for the Professional Level course; and 24 months for the Advanced Level course.

To get an ICAQ qualification you must first register with ICA as a student member by completing an online application form on their website. Once your membership has been approved you can then select your chosen qualification from the list available on their website and proceed with payment for your chosen course fees.

The cost of each ICAQ course depends on which level you choose to pursue but generally ranges from £1,000 - £2,000 per module plus exam fees (if applicable). Additional costs may also be incurred if you decide to join any additional study groups or attend conferences related to your chosen qualification route.

Do You Really Need a Compliance Manager Certificate?

The answer to this question depends on the individual and their goals. For some, a Compliance Manager Certificate may be beneficial in order to demonstrate knowledge of industry standards and regulations. This could be useful for those who are seeking employment in a regulated industry or looking to advance their career within their current organization.

On the other hand, some people may not need the certification in order to do their job effectively. If an individual already has experience in the field and is familiar with the relevant regulations, they may not need a formal certificate in order to perform their job well. Furthermore, if an employer does not require a Compliance Manager Certificate as part of the hiring process, then it may not be necessary for candidates to obtain one.

Ultimately, whether or not someone needs to get a Compliance Manager Certificate is up to them and their career goals. It can certainly be beneficial for certain individuals, but it is ultimately up to each person to decide if it is worth the time and money.

Related: Compliance Manager Resume Examples

FAQs About Compliance Manager Certifications

Q1: What is a Compliance Manager Certification?

A1: A Compliance Manager Certification is a professional certification designed to demonstrate an individual’s knowledge and skills in the field of compliance management. The certification shows employers that the individual has the necessary knowledge, experience, and credentials to effectively manage their organization’s compliance activities.

Q2: How do I become certified as a Compliance Manager?

A2: To become certified as a Compliance Manager, you must pass an exam administered by a recognized professional organization. Depending on the organization, this may include completing coursework or attending seminars on compliance topics. After successfully passing the exam, you will receive your certification and be able to demonstrate your expertise in managing compliance programs.

Q3: What are the benefits of becoming a Certified Compliance Manager?

A3: Becoming a Certified Compliance Manager demonstrates to employers that you have the necessary knowledge and experience to effectively manage their organization’s compliance activities. It also provides potential employers with assurance that you have taken the steps necessary to stay up-to-date on relevant regulations and industry best practices. In addition, many organizations offer pay increases or other incentives for employees who are certified as a Compliance Manager.

Q4: What topics are covered in the Certification Exam?

A4: The topics covered in the Certification Exam vary depending on which professional organization administers it. Generally, however, common topics include risk management, regulatory requirements and enforcement, internal controls and audit processes, policy development and implementation, data privacy practices, legal issues related to compliance programs, and ethics in business operations.

Q5: How often do I need to renew my Certification?

A5: Most professional organizations require recertification every two years in order to maintain your credential as a Certified Compliance Manager. This can involve taking additional courses or completing continuing education credits related to compliance topics.