Top 11 Regulatory Compliance Specialist Certifications

Certifications for a regulatory compliance specialist are important in the job market as they demonstrate to employers that the individual has the knowledge and skills necessary to successfully perform the duties of a regulatory compliance specialist. Having certifications allows employers to assess the qualifications of potential candidates more quickly and accurately. Additionally, certifications can give job seekers an edge over competitors who do not possess such credentials, giving them a better chance at securing a job. Finally, certifications can also help individuals stay up-to-date on new regulations and laws related to their field, allowing them to ensure that their organization is compliant with all applicable regulations.

The purpose of this article is to review some of the top certifications for Regulatory Compliance Specialists and explain how they can help enhance a regulatory compliance specialist's career.

What are Regulatory Compliance Specialist Certifications?

Regulatory compliance specialist certification is a professional certification that demonstrates an individual's expertise in regulatory compliance. This certification is designed to help individuals ensure their organization meets applicable laws and regulations and provides assurance to customers and other stakeholders that the organization is operating in accordance with applicable standards. With this certification, professionals can demonstrate their commitment to meeting organizational goals while ensuring compliance with industry regulations and laws.

The certification helps organizations by providing assurance that they are compliant with relevant laws, regulations, and standards. It also helps professionals gain a better understanding of the processes necessary for successful regulatory compliance management. Additionally, it gives them the tools they need to identify potential risks and develop strategies for mitigating those risks. Finally, it provides professionals with the opportunity to network with others in the field who have similar goals and interests.

Pro Tip: When considering a regulatory compliance specialist certification, make sure to research the certification program thoroughly to ensure that it is recognized by relevant professional organizations and offers comprehensive training in the latest regulatory compliance standards. Additionally, look for programs that offer ongoing support and resources to keep your knowledge up-to-date.

Related: What does a Regulatory Compliance Specialist do?

Top 11 Regulatory Compliance Specialist Certifications

Here’s our list of the best certifications available to Regulatory Compliance Specialists 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 area of banking and financial services compliance. The CRCM credential is offered by the Institute of Certified Bankers, a subsidiary of the American Bankers Association.

To become a CRCM, applicants must meet certain eligibility requirements and pass an examination administered by the Institute of Certified Bankers. Eligibility requirements include having at least three years of relevant experience in banking or financial services compliance, as well as completing an approved program in regulatory compliance management.

The CRCM exam consists of 200 multiple-choice questions covering topics such as consumer protection laws, anti-money laundering laws, bank secrecy laws, fair lending laws, and other regulations applicable to banks and financial service providers. The exam takes approximately four hours to complete and can be taken at any Prometric testing center around the world.

The cost for taking the CRCM exam is $395 for members of the American Bankers Association or $495 for non-members. Upon passing the exam, applicants will receive their official certification from the Institute of Certified Bankers and be recognized as a Certified Regulatory Compliance Manager (CRCM).

2. Certified Financial Services Auditor (CFSA)

Certified Financial Services Auditor (CFSA) is a professional certification offered by the Institute of Internal Auditors (IIA). The CFSA credential is designed to recognize individuals who have demonstrated knowledge and experience in auditing financial services organizations. The CFSA credential is an advanced designation that requires a minimum of two years of experience in internal or external auditing in the financial services industry.

The process for obtaining the CFSA credential includes:

1. Meeting the eligibility requirements, which include having two years of experience in internal or external auditing in the financial services industry, passing an examination, and agreeing to abide by the IIA Code of Ethics.

2. Submitting an application and paying the required fees, including application fee and annual dues.

3. Passing an examination administered by the IIA. The exam consists of four parts: Business Environment & Concepts; Financial Services Environment; Information Technology; and Auditing Practices & Procedures.

4. Once you have passed all four parts of the exam, you will be awarded your CFSA credential and will be eligible to use it on business cards, resumes, etc.

The cost to obtain a CFSA credential varies depending on your membership status with IIA but generally ranges from $400-$600 USD plus any applicable taxes or fees. It usually takes between six months to one year to complete all four parts of the exam depending on how quickly you can study for each part and schedule your exams with IIA.

3. Certified Regulatory and Compliance Professional (CRCP)

Certified Regulatory and Compliance Professional (CRCP) is a certification program offered by the Regulatory Compliance Association (RCA). It is designed to help professionals demonstrate their knowledge and expertise in regulatory compliance. The CRCP certification is awarded to individuals who have demonstrated an understanding of regulatory requirements and best practices, as well as the ability to apply them in their work.

To become a CRCP, applicants must meet certain educational and experience requirements. They must have at least five years of professional experience in regulatory compliance or related fields, including at least two years of management-level experience. In addition, they must have completed a minimum of 40 hours of continuing education in regulatory compliance topics within the past three years.

Once the applicant meets these requirements, they can then apply for the CRCP exam. The exam consists of 100 multiple-choice questions covering topics such as risk management, legal and ethical issues, financial regulation, and industry standards. The exam fee is $495 USD for RCA members and $595 USD for non-members. Once applicants pass the exam, they will receive their official CRCP certification from the RCA.

4. 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 credential is designed to recognize individuals who have demonstrated knowledge and understanding of anti-money laundering laws, regulations, and compliance procedures. It is an internationally recognized certification that demonstrates an individual’s expertise in the field of anti-money laundering.

To obtain the CAMS certification, applicants must pass a comprehensive exam that tests their knowledge of anti-money laundering laws, regulations, and compliance procedures. The exam consists of 150 multiple choice questions and takes about three hours to complete. Applicants must also meet certain educational or professional experience requirements before they can take the exam.

The cost to take the CAMS exam varies depending on where you take it. In the United States, it typically costs around $750 USD to register for the exam. Once you have passed the exam, there is an annual fee of $100 USD to maintain your certification status.

Overall, obtaining the CAMS certification requires significant effort and dedication but can be very rewarding for those who are committed to pursuing a career in anti-money laundering compliance.

5. Certified Information Privacy Professional/United States (CIPP/US)

Certified Information Privacy Professional/United States (CIPP/US) is a certification program offered by the International Association of Privacy Professionals (IAPP). It is designed to demonstrate knowledge and expertise in data privacy laws, regulations, and standards that are applicable to the United States. This certification is intended for individuals who have a deep understanding of U.S. privacy laws and regulations, as well as an understanding of how those laws apply to different business processes.

The CIPP/US certification requires applicants to pass a three-hour exam consisting of 100 multiple-choice questions. The exam covers topics such as data privacy principles, legal frameworks, regulatory environments, and organizational practices related to U.S. privacy law. Applicants must also demonstrate two years of work experience in the field of information privacy or security in order to be eligible for the exam.

To get the CIPP/US certification, you will need to register for the exam through IAPP's website and pay an application fee of $450 USD. Once you have registered for the exam, you can access study materials from IAPP's website or purchase additional study materials from third-party vendors. After studying for the exam, you will need to schedule a time with Pearson VUE testing centers in order to take the actual test.

The cost of taking the CIPP/US certification exam is $450 USD plus any additional fees associated with scheduling your test at Pearson VUE testing centers. Additionally, if you choose to purchase additional study materials from third-party vendors, those costs should be factored into your budget as well.

6. Certified Information Systems Auditor (CISA)

Certified Information Systems Auditor (CISA) is a professional certification offered by ISACA (Information Systems Audit and Control Association). It is designed to validate an individual’s knowledge and skills in the area of information systems auditing, control, and security. CISA certification is highly sought after by employers as it demonstrates that an individual has the knowledge and experience needed to audit, control, and secure IT systems.

It typically takes between 6-12 months to prepare for the CISA exam. This includes studying for the exam, attending training courses or seminars, and gaining hands-on experience with IT systems.

To get CISA certified, you must first meet the eligibility requirements established by ISACA. These requirements include having at least five years of work experience in information systems auditing, control, or security; passing a background check; and paying a registration fee. After meeting these requirements, you can register for the exam online through ISACA’s website.

The cost of CISA certification varies depending on where you take the exam and which type of membership you have with ISACA. The base cost for taking the exam is $575 USD for non-members and $450 USD for members. Additionally, there may be additional fees associated with training courses or seminars that are required to pass the exam.

7. 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 designation is highly respected in the investment industry and signifies that an individual has achieved a high level of knowledge and expertise in the field of finance.

It takes approximately four years to complete all three levels of the CFA Program. The program consists of three levels: Level I, Level II, and Level III. Each level requires passing an exam and completing four years of professional experience in the investment industry before receiving your charter.

To get started on the path to becoming a CFA, you must first meet certain eligibility requirements including having at least four years of professional experience in the investment industry or holding a bachelor’s degree from an accredited university. You will then need to register for the exams with the CFA Institute and pay applicable fees which vary depending on when you register for each exam.

The cost to become a CFA can range from $3,000-$4,500 USD depending on when you register for each exam and how many times you take them. This includes registration fees for all three exams as well as study materials such as books and online courses.

8. International Compliance Association Certificate in Governance, Risk & Compliance

The International Compliance Association Certificate in Governance, Risk & Compliance (ICA GRC) is a professional qualification designed to provide individuals with the knowledge and skills they need to work in the field of governance, risk and compliance. It is suitable for those already working in the industry, as well as those seeking to enter the profession.

The ICA GRC consists of four modules:

1. Introduction to Governance, Risk & Compliance

2. Understanding Regulatory Requirements

3. Developing a Risk Management Framework

4. Implementing a Compliance Program

It takes approximately 150 hours of study time to complete the ICA GRC program and pass all four modules. The course can be completed online or through an accredited learning provider such as Kaplan Financial or BPP Professional Education.

The cost of the ICA GRC varies depending on which provider you choose and what payment options are available. Generally speaking, it will cost between £600-£900 depending on your chosen provider and payment plan.

In order to obtain the ICA GRC certificate, you must successfully complete all four modules and pass all assessments with a minimum score of 70%. Once you have done this, you will receive your certificate from the International Compliance Association confirming that you have achieved the required standard for this qualification.

9. Society of Corporate Compliance and Ethics Professional Certification

The Society of Corporate Compliance and Ethics Professional Certification (SCCEPC) is a professional certification program for compliance and ethics professionals. The SCCEPC is the only certification program that focuses on the practical application of compliance and ethics principles in the workplace. It is designed to provide recognition to individuals who demonstrate a high level of knowledge, experience, and proficiency in the field of corporate compliance and ethics.

The SCCEPC requires applicants to have at least three years of full-time professional experience in the field of corporate compliance and ethics or related fields. Applicants must also pass an examination that covers topics such as legal principles, regulatory requirements, risk management, organizational culture, organizational structure, internal controls, data privacy, fraud prevention, and ethical decision making.

It typically takes between three to six months to complete the certification process depending on how quickly an applicant can complete the required coursework and pass the exam.

To get certified with SCCEPC you must first submit an application along with any supporting documents such as transcripts or proof of work experience. Once your application has been approved you will be given access to online training materials which you must complete before taking the exam. After completing all coursework and passing the exam you will receive your certificate from SCCEPC.

The cost for obtaining SCCEPC certification varies depending on whether you are a member or non-member of SCCEPC but generally ranges from $500 - $1000 USD.

10. Institute of Internal Auditors Certification in Risk Management Assurance

The Institute of Internal Auditors (IIA) Certification in Risk Management Assurance (CRMA) is an internationally recognized professional certification that demonstrates a practitioner’s knowledge and experience in the field of risk management. It is designed to help organizations identify and manage potential risks, as well as to evaluate existing risks and develop strategies for mitigating them.

The CRMA certification program consists of three courses: Foundations of Risk Management Assurance, Risk Management Assurance Processes, and Advanced Risk Management Assurance. The courses are offered online or in-person at IIA-approved training centers. The program takes approximately 6 months to complete, depending on the student’s pace.

To get the CRMA certification, candidates must first pass all three courses with a minimum score of 70%. Candidates must also have at least two years of professional experience in risk management assurance or related fields. Once all requirements are met, candidates can apply for the exam through the IIA website.

The cost of the CRMA certification varies depending on which format you choose—online or in-person—and which country you reside in. Generally speaking, it costs between $1,000 and $2,000 USD to take all three courses and sit for the exam.

11. Project Management Institute - Risk Management Professional

The Project Management Institute Risk Management Professional (PMI-RMP) is a certification program offered by the Project Management Institute (PMI). This certification is designed to recognize professionals who have demonstrated the knowledge and skills necessary to identify, assess, and manage project risks. The PMI-RMP credential is appropriate for individuals with experience in risk management or those who are looking to transition into this field.

How long does it take to get it?

It typically takes between three and six months to prepare for the PMI-RMP exam. The amount of time needed will depend on the individual's existing knowledge and experience in project risk management.

How to get it?

To become a PMI-RMP certified professional, you must meet certain prerequisites, including having at least two years of project risk management experience as well as 35 hours of formal education in project risk management topics. After meeting these requirements, you must pass an exam administered by PMI.

How much does it cost?

The cost for the PMI-RMP exam is $405 for members of PMI and $555 for non-members. Additionally, there may be additional costs associated with studying materials or taking courses related to the exam.

Do You Really Need a Regulatory Compliance Specialist Certificate?

Yes, a Regulatory Compliance Specialist Certificate is an important credential for anyone who works in the finance or legal field. This type of certification demonstrates to employers that you have a deep understanding of the regulations and laws that govern these industries. With this knowledge, you will be better prepared to ensure that your organization is following all applicable rules. You will also be able to help identify potential violations and take corrective action when necessary.

Having a Regulatory Compliance Specialist Certificate can also open up opportunities for advancement within your organization, as it shows employers that you are knowledgeable in this area and can handle more complex tasks. Additionally, having this type of certification can make it easier to apply for jobs outside of your current company as employers may view it as an indication of your commitment to staying on top of regulatory changes.

In short, obtaining a Regulatory Compliance Specialist Certificate is an excellent way to demonstrate your expertise in this field and build credibility with employers. It can also give you an edge over other candidates when applying for jobs, so if you are interested in pursuing a career in finance or law, then obtaining this certification is definitely worth considering.

Related: Regulatory Compliance Specialist Resume Examples

FAQs About Regulatory Compliance Specialist Certifications

1. What qualifications do I need to become a Regulatory Compliance Specialist?

Answer: Generally, you will need at least a bachelor’s degree in business, finance, economics or related field, as well as experience in the compliance field. In addition, certification from an accredited organization such as the Society of Corporate Compliance and Ethics (SCCE) is recommended.

2. How long does it take to complete a Regulatory Compliance Specialist Certification?

Answer: The length of time needed to complete a Regulatory Compliance Specialist Certification depends on the type of certification you pursue and your prior knowledge and experience. Generally, you can expect to spend anywhere from six months to two years completing your certification depending on the program you choose.

3. What topics are covered in a Regulatory Compliance Specialist Certification?

Answer: Topics typically covered in a Regulatory Compliance Specialist Certification include legal compliance requirements, risk management principles, corporate governance best practices, financial reporting regulations and auditing guidelines. Additionally, certifications may also cover topics like data privacy laws and anti-corruption measures.

4. Are there any prerequisites for taking a Regulatory Compliance Specialist Certification exam?

Answer: Yes – some certifying organizations require that applicants have an undergraduate degree in business or related fields before they can take the certification exam. Additionally, some programs may require applicants to have prior work experience or specialized training in regulatory compliance before taking the exam.

5. How much does it cost to get certified as a Regulatory Compliance Specialist?

Answer: The cost of getting certified as a Regulatory Compliance Specialist varies depending on which organization you choose for your certification program and the type of program you select (online vs classroom-based). Generally speaking, prices range from $500-$2000 USD for most programs.