Top 10 Regulatory Analyst Certifications

Certifications for a regulatory analyst in the job market are important because they demonstrate an individual’s knowledge of the industry, their ability to keep up with changes and trends, and their commitment to staying informed. Certifications also provide employers with assurance that a potential hire has the necessary qualifications to excel in their role. Finally, certifications can give regulatory analysts an edge over other job applicants as employers often view them as indicators of competence and dedication.

This article reviews some of the top certifications for Regulatory Analysts and explains how they can help to advance a regulatory analyst's career.

What are Regulatory Analyst Certifications?

Regulatory analyst certification is a professional credential offered by the Institute of Regulatory Analysis (IRA) that demonstrates an individual's knowledge and expertise in regulatory analysis. This certification is designed to help individuals demonstrate their ability to analyze, interpret, and evaluate the impact of regulations on their organization or industry. The certification is earned by passing a comprehensive exam, which covers topics such as regulatory compliance, legal requirements, data analysis, and policy development.

This certification can be beneficial for those looking to further their career in the field of regulatory analysis. It can provide recognition that they have the necessary skills to perform their job effectively and efficiently. Having this certification also demonstrates an individual's commitment to staying up-to-date on industry trends and regulations. Additionally, it may open doors for opportunities within their current organization or help them stand out when applying for new positions in other organizations. Ultimately, having this certification can help individuals increase their value in the workplace and advance their career in regulatory analysis.

Pro Tip: When pursuing a regulatory analyst certification, make sure to research the requirements and prerequisites for each program. Different programs may have different requirements or eligibility criteria, so it is important to ensure that you meet all of the necessary qualifications before enrolling in a program. Additionally, find out what type of continuing education credits are offered for maintaining your certification as this will ensure that your knowledge stays up-to-date with current industry regulations.

Related: What does a Regulatory Analyst do?

Top 10 Regulatory Analyst Certifications

Here’s our list of the best certifications available to Regulatory Analysts today.

1. Certified Regulatory Compliance Manager (CRCM)

A Certified Regulatory Compliance Manager (CRCM) is a professional designation that recognizes individuals who have demonstrated expertise in the field of regulatory compliance. It is awarded by the Institute of Certified Bankers (ICB), a subsidiary of the American Bankers Association (ABA). The CRCM designation is designed to demonstrate an individual’s knowledge and understanding of banking regulations, as well as their ability to effectively manage a compliance program.

To become a CRCM, an individual must pass the CRCM exam administered by ICB. The exam consists of 150 multiple-choice questions and covers topics such as consumer protection laws, anti-money laundering regulations, Fair Lending laws, and other banking regulations. The exam takes approximately 3 hours to complete and must be taken at an approved testing center.

The cost for taking the CRCM exam varies depending on where you take it. Generally, it costs between $400 and $600 to take the exam. Additionally, there are annual fees associated with maintaining your certification which range from $50-$100 per year.

Once you have passed the exam and paid all applicable fees, you will receive your official certification from ICB. This certification is valid for three years before needing to be renewed.

2. Certified Regulatory and Compliance Professional (CRCP)

Certified Regulatory and Compliance Professional (CRCP) is a certification that demonstrates an individual’s knowledge and expertise in regulatory and compliance issues. The CRCP certification is offered by the Regulatory Compliance Association (RCA), a non-profit organization dedicated to providing professional development, education, and resources for individuals in the field of regulatory compliance.

The CRCP certification requires passing an exam that covers topics such as legal and regulatory requirements, risk management, audit processes, data privacy, and more. The exam consists of 150 multiple choice questions with a time limit of four hours. To be eligible to take the exam, applicants must have at least three years of experience in the regulatory compliance field or have completed an RCA approved training program.

The cost of taking the CRCP exam is $750 USD. After passing the exam, there is a one-time fee of $250 USD to maintain your certification status.

In order to obtain the CRCP certification, individuals must pass the exam within two years from when they first register for it. This means that it typically takes about two years to complete all steps necessary for obtaining this certification.

3. Certified Regulatory Affairs Professional (CRAP)

Certified Regulatory Affairs Professional (CRAP) is a professional certification that recognizes individuals who have demonstrated an understanding of the principles and practices of regulatory affairs. The CRAP certification is offered by the Regulatory Affairs Professionals Society (RAPS).

The CRAP certification requires applicants to have at least three years of experience in regulatory affairs, or two years of experience plus a degree in a related field. Applicants must also pass an exam that covers topics such as regulatory strategy, product development, quality systems, and global regulations.

To get the CRAP certification, applicants must first submit an application to RAPS. After the application is approved, applicants must register for and pass the CRAP exam. The exam consists of 150 multiple-choice questions and takes approximately four hours to complete.

The cost for the CRAP certification varies depending on whether you are a RAPS member or not. For non-members, the fee is $1,295 USD; for members it is $995 USD.

4. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation awarded by the CFA Institute to individuals who have successfully completed a series of exams and met certain work experience requirements. The CFA program focuses on investment analysis and portfolio management, covering topics such as economics, financial reporting, quantitative methods, ethical and professional standards, corporate finance, equity investments, fixed income, derivatives, alternative investments and portfolio management.

It typically takes about three to four years to complete the CFA program. To become a CFA charterholder, candidates must pass all three levels of the CFA exam and meet the work experience requirements. The exams are offered twice a year in June and December.

To get started with the CFA program, you must first join the CFA Institute as a member before registering for each level of the exam. The cost of joining the institute is $450 USD for members in North America and $250 USD for members outside North America. After joining the institute you will be required to pay an additional fee for each level of the exam which is currently $700 USD per level for members in North America or $530 USD per level for members outside North America.

5. Certified Anti-Money Laundering Specialist (CAMS)

A Certified Anti-Money Laundering Specialist (CAMS) is a professional certification offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS). It is designed to recognize individuals who have achieved a high level of proficiency in the field of anti-money laundering compliance. The CAMS designation is widely recognized as the global standard for anti-money laundering expertise.

The certification process takes approximately two months to complete, depending on individual circumstances and availability of resources. To become certified, candidates must first pass an online exam that covers topics such as financial regulations, money laundering typologies and methods, risk assessment, due diligence processes, and reporting requirements. Once the exam has been passed, candidates must then submit an application for certification which includes submitting proof of relevant work experience and completing a background check.

The cost to become certified varies depending on where you take the exam and whether or not you are a member of ACAMS. Generally speaking, it costs around $750 USD to take the exam without being a member, while members can save up to $200 USD by taking advantage of discounted rates.

6. FINRA Series 7 License

The FINRA Series 7 License is a professional license issued by the Financial Industry Regulatory Authority (FINRA) that allows individuals to become registered representatives of a broker-dealer, and to trade securities such as stocks, bonds, mutual funds, and options. The Series 7 exam is considered one of the most difficult exams in the financial industry and requires a significant amount of knowledge about securities products, regulations, and procedures.

To obtain the Series 7 license, individuals must first pass the FINRA General Securities Representative Examination (Series 7). This exam consists of 250 multiple-choice questions covering topics such as investment risk, trading strategies, customer accounts, margin accounts and more. The exam takes approximately 6 hours to complete and requires a minimum score of 72% to pass.

The cost for taking the Series 7 Exam varies depending on where you take it. Generally speaking, it costs around $250-$300 for registration fees plus additional fees for study materials and prep courses if desired.

Once an individual has passed the exam they can then apply for their license with FINRA. The application process typically takes between 2-4 weeks after passing the exam. Once approved by FINRA an individual will receive their official Series 7 license which is valid for 4 years before needing to be renewed.

7. FINRA Series 24 License

The FINRA Series 24 License is a securities license that allows individuals to act as a general securities principal. This means they can supervise the activities of broker-dealers, including sales and trading activities, and manage the operations of their firms.

In order to obtain this license, applicants must first pass the General Securities Principal Qualification Examination (Series 24). This exam consists of 150 multiple-choice questions covering topics such as supervision of sales practices, customer accounts, margin accounts, and other regulatory requirements. The exam takes approximately three hours to complete and requires a score of 70% or higher in order to pass.

The cost for the exam varies depending on where you take it. Generally speaking, it costs around $200-$300 for the registration fee plus any additional fees associated with taking the exam at a testing center.

Once an individual has passed the Series 24 Exam, they will be eligible to apply for their FINRA Series 24 License. The application process involves submitting an application form along with supporting documents such as fingerprints and evidence of passing the required exams. Once approved by FINRA, applicants will receive their license within 4-6 weeks.

8. FINRA Series 4 License

The FINRA Series 4 License, also known as the Registered Options Principal Qualification Exam, is a professional qualification exam administered by the Financial Industry Regulatory Authority (FINRA). It is required for individuals who wish to become registered options principals in order to trade and supervise option transactions.

It takes approximately 8-12 weeks to complete the Series 4 license process. This includes completing a background check, passing the FINRA Series 4 exam, and registering with FINRA.

To get the Series 4 license, individuals must first pass the FINRA Series 4 exam. The exam consists of 125 multiple choice questions and has a three hour time limit. After passing the exam, individuals must complete a background check with FINRA before being approved as an options principal.

The cost of obtaining a Series 4 license varies depending on which state you are applying in. Generally, it costs between $200-$400 to take the exam and register with FINRA.

9. Investment Adviser Certified Compliance Professional (IACCP)

The Investment Adviser Certified Compliance Professional (IACCP) is a professional designation that recognizes individuals who have demonstrated a comprehensive knowledge of the laws, regulations, and other requirements related to investment adviser compliance. It is offered by the Investment Adviser Association (IAA), an organization dedicated to advancing the interests of the investment advisory profession.

The IACCP requires applicants to pass an exam that covers topics such as fiduciary duty, regulatory compliance, ethics, and risk management. The exam consists of 100 multiple-choice questions and takes approximately two hours to complete. The exam fee is $400 for members of the IAA or $500 for non-members.

In order to become eligible for the IACCP designation, applicants must meet certain criteria including at least three years of experience in investment advisory compliance; completion of at least 40 hours of continuing education in investment advisory compliance; and passing scores on both parts of the IAA’s Investment Adviser Certified Compliance Professional Exam.

Once these criteria are met, applicants can apply for the IACCP designation by submitting an application form along with proof of their qualifications and payment of a one-time fee of $200. Upon successful completion of all requirements, applicants will receive their official IACCP certificate.

10. Certified Financial Services Auditor (CFSA)

Certified Financial Services Auditor (CFSA) is a professional certification offered by the Institute of Internal Auditors (IIA). The CFSA is designed to recognize individuals who have a comprehensive understanding of financial services audit principles, practices and techniques. It is intended for internal auditors, external auditors, and other professionals who are involved in financial services audits.

The CFSA exam consists of 150 multiple-choice questions that cover topics such as risk management, internal control systems, fraud prevention and detection, regulatory compliance, financial reporting and analysis, and financial services industry knowledge. In order to be eligible to take the exam, applicants must have at least two years of experience in the field of financial services auditing or related fields.

It typically takes about three months to prepare for the exam. Candidates should review the IIA’s study guide and practice exams before taking the actual exam. Additionally, candidates can take online courses or attend seminars to gain additional knowledge on topics covered on the exam.

The cost of taking the CFSA exam varies depending on your location but generally ranges from $500-$700 USD.

Do You Really Need a Regulatory Analyst Certificate?

The short answer is no, you do not necessarily need a regulatory analyst certificate to work in the field. However, having a certification can be beneficial and can help you stand out from other applicants when applying for jobs in the regulatory analyst field.

A regulatory analyst certificate demonstrates that you have the knowledge and expertise necessary to excel in this type of job. It shows employers that you know how to interpret regulations and make decisions based on those interpretations. It also shows employers that you understand the importance of complying with regulations, as well as staying current on any changes or updates to the laws. This type of certification may also be useful if you are looking to become an independent consultant or contractor, as it provides potential clients with assurance that you have the skills to provide them with quality advice and services.

In addition, having a certification can open up more career opportunities for those interested in becoming a regulatory analyst. Many organizations prefer to hire candidates who have some sort of specialized training or education in this field, so having a certificate could give you an edge over other applicants when applying for positions. Furthermore, many organizations may offer higher salaries or more attractive benefits packages to certified analysts than they would offer non-certified ones.

Overall, while it is not essential that you have a regulatory analyst certificate before pursuing a career in this field, it can certainly be beneficial and may help increase your chances of finding employment opportunities.

Related: Regulatory Analyst Resume Examples

FAQs About Regulatory Analyst Certifications

1. What is a Regulatory Analyst Certification?

A Regulatory Analyst Certification is a professional certification that demonstrates the holder's expertise in regulatory compliance and analysis, including understanding of applicable laws, regulations, and standards.

2. Who should consider obtaining a Regulatory Analyst Certification?

Those who work in or are interested in working in roles related to regulatory compliance and analysis, such as compliance officers and risk management professionals, should consider obtaining a Regulatory Analyst Certification.

3. What are the benefits of having a Regulatory Analyst Certification?

Having a Regulatory Analyst Certification can help demonstrate knowledge of applicable laws, regulations, and standards; provide greater job security and career advancement opportunities; increase earning potential; and enhance one’s professional credibility.

4. How do I become certified as a Regulatory Analyst?

To become certified as a Regulatory Analyst, you must first complete an approved training program and then pass an exam administered by the certifying body. The specifics vary depending on the certifying body chosen.

5. Are there any prerequisites for becoming certified as a Regulatory Analyst?

Yes, most certifying bodies require applicants to have some prior experience or education related to regulatory compliance or analysis before they can take the exam for certification.