9 Compliance Certifications To Pursue For A Rewarding Career

Updated 2 March 2023

Compliance certifications show your ability to understand the principles, rules and regulations in your field. Earning relevant certifications improves your value to potential recruiters and enhances your employability, as many companies prefer hiring candidates with at least one of these certifications. If you have an interest in earning a professional credential in compliance, learning about the different certifications can help you find one that matches your ambition and experience level. In this article, we define what compliance-related certifications are, share nine certifications you can pursue for a rewarding career and list steps for choosing the right certification for you.

Please note that none of the companies, institutions or organisations mentioned in this article are associated with Indeed.

What Are Compliance Certifications?

Compliance certifications certify that an individual understands and has the skills to perform their job in alignment with their industry's rules and regulations. Typically, you receive this certification as a document stating your professional training and preparation to meet the compliance standards for a specific job role. Almost every industry has some type of compliance-related certification, making it important to earn one. Most of these certifications take anywhere between six weeks to two years, depending on the type of certification you want to pursue.

Benefits Of Earning Compliance Certifications

These certifications offer the following benefits:

Help you apply for senior positions

Many companies prefer senior management to have one or more compliance-related certifications. This is often because of the technical requirements required in a senior position. Therefore, if you have one of these certifications, you may be more likely to be successful when applying for senior positions within the company. In addition to advancing your career, they can help you progress to a higher-paid and specialised job.

Enhance your skills

These certifications provide a framework for developing existing skills that align with your career goals and legal requirements for certain industries. Earning this certification provides you with a comprehensive understanding of the industry in which you work. These certifications also improve your confidence and competency, resulting in enhanced job performance.

Increase your chance of getting a position

Compliance-related certifications show your abilities and experience in understanding rules and regulations. It highlights that you have the experience to complete the assigned job duties. When deciding between two candidates with similar qualifications and experience, recruiters prefer candidates with certifications in compliance.

Examples Of Compliance-Related Certifications

Every industry has different certifications in compliance:

Business and finance certifications

Some certifications in business and finance are:

1. Anti-Money Laundering (AML) Specialist

The AML Specialist certificate course on AML laws offered by the Institute of Chartered Accountants in India (ICAI) is ideal for people working in financial organisations. This certification shows an advanced understanding of AML principles. It focuses on AML laws, treaties, regulations and nodal authorities. It even gives an overview of banking regulations, black money, tax imposition, the prevention of corruption and other relevant topics. Regulators of different financial institutions use this certification to regulate their policies and protect themselves against money laundering.

2. Certified Banking Compliance Professional (CBCP)

The Institute of Company Secretaries of India (ICSI) awards the CBCP. This certificate primarily covers the importance of compliance functions in banks and compliance issues a bank might face. Typically, risk managers and compliance officers complete these certifications for a rewarding career. Individuals who want to work in compliance areas might also pursue this certification. To earn the certification, it is necessary for individuals to pass online exams and complete classroom learning.

3. Certificate in Trade Finance Compliance (CTFC)

CTFC is another certification that imparts knowledge and helps you understand how to prevent trade-based financial crimes worldwide. Typically, bank audit and compliance officers, risk managers and finance operations managers complete this certification. After completing the certification, individuals can identify the best practices for ensuring due diligence in different trade transactions. It even helps prepare for common financial crimes occurring in financial institutions.

General compliance-related certifications

Some general compliance-related certifications are:

1. Certified Compliance and Ethics Professional (CCEP)

CCEP is a certification that tests an individual's ability in compliance and ethics in various industries and specialities. This certificate enhances the credibility of individuals pursuing it. Typically, individuals with this certification are up to date on the latest industry trends and can manage new compliance challenges. One prerequisite for completing CCEP is at least one year of experience working in any compliance position.

2. Certified Global Compliance Specialist (GCS)

GCS provides an overview of anti-laundering, global compliance, anti-bribery, anti-corruption, the Health Insurance Portability and Accountability Act (HIPAA), the General Data Protection Regulation (GDPR) and the listing obligations and disclosure requirements (LODR) regulations of the Securities and Exchange Board of India (SEBI). The course also highlights key aspects of insider trading in terms of recent government regulations and reviews different case studies. This compliance certification is ideal for employees working in companies that operate across borders. After completing the certification, individuals gain knowledge of important global regulations, why they matter and how they can manage global compliance.

Certifications in healthcare and IT

Some certifications in healthcare and IT are:

1. Certified in Healthcare Research Compliance (CHRC)

CHRC is an ideal certification for individuals in healthcare compliance seeking to mitigate compliance risks in high-risk environments. This certification shows that an individual has a strong and in-depth understanding of healthcare compliance processes, including recent updates in the regulations and compliance laws. The certification requires some prior experience in healthcare compliance. Typically, the certification is valid for two years.

2. Certified in the Governance of Enterprise IT (CGEIT)

CGEIT is another useful compliance-related certification for people working within corporate IT governance. The Information Systems Audit and Control Association (ISACA) offers this certification. This certification primarily focuses on risk optimisation, IT resources, benefits realisation and company governance. Knowledge about these separate niches is essential for becoming a compliance expert. When you enrol for the CGEIT certification, you can access a community of alumni and compliance experts with whom you can interact and learn.

Certifications in cybersecurity and data privacy

Some certifications in cybersecurity and data privacy are:

1. Certified Information Privacy Professional (CIPP) certification

The International Association of Privacy Professionals (IAPP) offers this certification for individuals working in technology and business. Earning CIPP certification shows your extensive knowledge of data privacy regulations and laws and how to apply them in the organisation. While there are no prerequisites for completing the exam, some relevant experience in information privacy is valuable. Typically, it requires 30 hours of study time to prepare for the CIPP exam. The exam comprises 90 questions and lasts 150 minutes.

2. Certified Information Privacy Technologist (CIPM) certificate

The IAPP offers the CIPM certificate. Earning this certification shows your ability to create a privacy structure for an organisation and help validate your knowledge of information privacy in technology. Companies prefer CIPM-certified individuals because they help implement strategies, processes and policies to control potential cybersecurity risks while using data for making critical business decisions. IT auditors, legal compliance officers, information officers and data protection lawyers may pursue this certification.

How To Choose A Compliance-Related Certification?

Use these steps to choose a compliance-related certificate that can help you progress in your career:

1. Search for certifications in your industry

There are many compliance-related certifications. These vary depending on the industry in which you work. For example, certifications in the healthcare industry differ from the ones in the banking and finance sector. You can review regulations in your industry and review certifying institutions to determine which credentials suit your career. In addition, rather than searching for top institutes offering these certifications, look for certificates that help you upskill your knowledge and prepare you to handle future compliance challenges.

2. Discover any prerequisites

Certain certifications require prior work experience or education. Search for the prerequisites of a certificate before paying for it to ensure it is suitable for you. Prior qualifications and experience ensure you upskill yourself in areas where you already have qualifications.

3. Meet with experienced individuals

Consider asking experienced individuals, such as your managers and other industry leaders, which certifications are likely to help you progress. You can organise an informational interview with these managers to discover which new learning opportunities are valuable yet cost-effective. From their experience, they can even help you choose a certification to pursue.