Certification

The Certified Compliance Specialist (CCS) is a professional credential for financial services professionals whose primary function and expertise focus on the application, implementation and maintenance with regard to Compliance concepts and principles.

 

Requirements

 

• Candidates must first become a member. The CCS designation signifies that the individual has attained comprehensive training in the four pillars of compliance: AML/CFT, Fraud, Risk Management and Ethics.
• The complete curriculum may be completed by a candidate as their own personal time and dedication to the curriculum permits. However, once begun, all areas of competency must be completed within 2 years.
• Individual Exam will be administered  in four competency areas. Modules 1 & 2- AML & Fraud will be available as of September 2013 with modules 3 & 4 -Risk Management & Ethics being available in November 2013.
• Each exam will consist of  at least 60 multiple choice questions and a minimum of two questions requiring essay style answers. The examination is designed to assess a candidates understanding and application of Compliance principles and standards and will be three hours long.
• Candidates attaining a 75% or higher mark in each area of competency will receive the CCS designation.  Should a candidate not be successful and wish to retake any given exam; he/she can re-apply no less than sixty days after the initial exam was written.

 

Additional Requirements

 

Candidates must meet the experience, education, and requirements determined to be competency measures for compliance professionals. These will be reviewed by the IACCS Admissions Committee.

Professional Experience & Education

• A minimum of three years experience as a compliance professional with primary responsibility for a range of compliance functions.
• Letter of recommendation from a senior officer at your organization attesting to your qualifications and character.
• Candidates must complete and submit an application, affirming that they comply with the eligibility requirements at the time of submission.
• Candidates holding a Certified Anti-Money Laundering Specialist (CAMS) designation will be exempted from having to write the AML exam upon proof of valid CAMS designation and be deemed to have passed the AML competency portion of the curriculum. The Board will review and assess anyother AML certification held and advise if an exemption can be granted.

 

Continuing Education Credit Requirements

 

• A total of 20 continuing education hours/credits must be accumulated within a two-year cycle
• Candidates will not be granted continuing credits/hours completed prior to obtaining their certification nor be carried over to another two-year cycle.
• The deadline for earning continuing education credits/hours is two years from the date the CCS certification was awarded.

 

Recertification Policy

 

• In order to maintain active certification status, the certification must be renewed every two years.
• Recertification candidates are required to submit a completed IACCS Recertification Application and an evaluation no later than November 15 of the second year after receiving their initial certification or their most recent recertification.
• A late fee will be applied to all candidates who miss the November 15 deadline and will be accepted for only 60 days after the deadline.

 

Extensions

 

Occasionally, extenuating circumstances may prevent certified specialists from meeting the required credits/hours of continuing education over a two year period. One-year extension of the recertification deadline can be requested. The extension must be approved at least 3 months prior to the recertification deadline.  Examples of who may be eligible for an extension: