Five Compliance Certifications That Make Over Six Figures
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- čas přidán 20. 05. 2024
- Almost 70% of executives aren’t confident in their current risk management policies and practices.
You can look at that statistic in two ways; either you see that as a problem or an opportunity.
If you see it as a problem, then you’re most likely the owner of an organization. What I mean by that is you’re starting to realize the importance of establishing a regulatory environment. Maybe you’re trying to figure out ways to instill awareness into your employees about regulations they need to keep in mind as they work.
If you’re on the other side of the coin, that statistic is an opportunity. In other words, you’re someone who’s thinking about getting a compliance certificate. After all, only 30% of all executives feel confident with their current risk management practices, there will be a lot of job openings soon.
But, like most industries, in order to stand out as the perfect candidate for a job you need to have the most qualifications or experience. In compliance, qualifications take on the form of certifications.
OK, requiring certifications for a job position isn’t anything new. In fact, there’s guaranteed to be some sort of accreditation that could help you stand out from other candidates for any job.
But with highly regulated industries, certifications end up turning into an alphabet soup of acronyms. In other words, it’s easy to get lost in all of the different options.
So how do you choose the best one for you?
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The very first compliance certification I’m going to go over is the Certified Information Systems Security Professional or CISSP. It’s one of the most elite and popular information security certifications to date because many IT companies consider it as a base requirement for their network security employees.
In order to be eligible to take the test that grants this compliance certification, you need to have five years of work experience in two of eight different listed domains; Security and risk management, asset security, security architecture and engineering, communication and network security, identity and access management, security assessment and testing, security operations, software development security.
The test for this certification is 100 to 150 questions but only 75 of those are graded.
It’s a daunting task but achieving a CISSP certification leads to extremely lucrative careers and doesn’t pigeon-hole you into one industry. For example, an Information Security Manager with this certification makes an average of $120,000 per year.
Next up we have the Certified Regulatory Compliance Manager or CRCM. It’s the most respected and recognized compliance certification within the banking and financial space.
There are two ways you could be eligible for this certification. First, have at least six years of U.S. experience as a compliance professional within the past decade. Second, you’re eligible if you have a minimum of three years of experience as a compliance professional and complete at least two compliance-related training options provided by the American Bankers Association (ABA) within the last five years.
The test for this certification is 200 questions within a 4-hour time limit.
A CRCM certificate is so valued within the financial sectors because it’s so difficult to obtain. As a result, jobs requiring this compliance certification see salaries of up to $150,000 per year.
As data privacy continues to become more important to governments, managing it becomes more difficult for organizations. Enter the Certified Information Privacy Professional (CIPP). This is a compliance certificate that’s recognized and accredited by the American National Standards Institute (ANSI) under the International Organization for Standardization (ISO) standard 17024:2012. In other words, a highly respected certification.
This certification’s test is 90 multiple-choice questions within 150 minutes. Only 75 questions are graded from the test and they recommend at least 30 hours of dedicated study time.
Individuals with a CIPP earn up to $130,000 for positions in data privacy.
What if you just wanted to get a compliance certification that was based on high-level knowledge of the space? Well, then the Certified Compliance and Ethics Professional (CCEP) certification is what you want.
A CCEP certification is offered by the Compliance Certification Board (CCB) - a testing organization that ensures competence in compliance and ethics across different industries and specialties.
It’s test is 115 multiple-choice questions where only 100 of them are graded.
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I have my CAMS and work in compliance for an investment bank and I make well over six-figures. But I am looking into obtaining the CRCM as well to help pivot my career and hopefully work in the government sector.
I am an attorney trying to switch into compliance. i wanted to ask is this worth it?
@@tiffanymcduffie6497 I work with a lot of attorneys and they seem to think it is worth it. Compliance is a very analytical job and pays pretty well and once you are in the field, it is very easy to get any Compliance job. Especially in NJ/NYC where I reside. It really depends on location. If you are in NC or TX, there isn't much opportunities there.
@@iwannaquit6200 I’m in Texas. Currently working remote for Client out of Florida. Any suggestions on study programs/guides for CAMS?
Congrats on your career success 🧡
@@iwannaquit6200 could you be so kind and provide some light how you obtain your CERTIFICATION? Mini please
Great vid! But what would you recommend for someone who doesn't have compliance work ex
Thanks for the information. One can also go to the top of Compliance Function in relevant institutions, with CAMS qualification, CAMS provides rich regulatory environment, culture, governance, and compliance knowledge that enables one to understand what it requires to implement the important components of compliance including not limited to Customer Due Diligence (CDD), Know Your Customers (KYC), Risk Assessments, Risk Profiling, Monitoring, Thresholds, Investigations, Red-Alerts, False Positives, Reviews, Investigations, Reporting, etc etc.
One may go to the top of the compliance domain with the combination of CAMS and relevant risch compliance experience in relevant organizations or institutions. Thank you
How does one get training and certification on CIPP?
Hi once again also I need to know where I go to obtain this certificate to CCEP certificate thank you
great info provided ! if you can also provide more info on certifications like ACAMS , CAME . It would be helpful .
CIPP
CCEP
CHC ( health care compliance)
CIISP
CRCM 6 years experience, 3 years American bankers association
In this order?
Thank you
Hello I need to know what kind of compliance certificate I know for a cannabis business is it is CCEP please let me know I appreciate your work and thank you so much.
hello, thanks for this informative video, but I was wondering if you have any info on entry level AML and KYC certificates.
Go for CAMS
You didn't mention ACAMS ...Does it means that ACAMS isn't well recognised?
Very good
What about ISACA CRISC? Thoughts?
Great info 👍👍👍
I am interested in learning more about compliance and perhaps add a certification to my profile. I have about 5 years of IAM Canadian experience, and currently hold CompTIA Security + certification as well. I was wondering if there are any entry/ beginners level Compliance certifications that you would recommend so I can break into the compliance field.
IAM is an area in Cybersecurity I'm interested in. Can you share some resources or give some road map or advice for someone who wants to go into that area? You said you are interested in compliance certifications, have you looked into Cybersecurity GRC with compliance certifications like PCI-DSS (for financial services industry) or PIPEDA (for the Healthcare industry) which is equivalent of U.S HIPAA in Canada?
Try the CISI Investment Compliance Diploma if in the UK that's the best one.
Have you done it? Did you get a job after obtaining this certificate?
@@manzarsaleem6447 Yes with a little bullshit on the CV ;-)
$$$$ Why Not Mention Rediculous High Rip Off Costs????
So what certification would I go for if I am just starting in the sector with no to veryyy limited experience (under 1y)?
OSHA 30 General Industry or Construction
OSHA 40 HAZWOPER
Oh man, I thought this was a martial arts site for cops! Oops! Compliance is a mighty general term!
Please re-examine your video on 4:52-4:55. You speak about CHC, but you present CIPP on the screen.
It does not matter, those who are intelligent enough will figure it out
@@edwardjohnoliverosrodrigue5759 tf? Is that what you tell your clients when they complain about quality of your work?
@@thetruthsayer8347 First of all, I do not understand why you are replying to me when my comment is not addressed to you.
2. Second of all, at least, if you felt that you had to respond, you could have confirmed (or refuted) my statement "It does not matter, those who are intelligent enough will figure it out."
3. Third, of all, who are "your clients" that you speak of?! You seem to know more of myself than I do of myself.
@@edwardjohnoliverosrodrigue5759 LOL, this is a public forum, anyone can reply to your comment if you post things publicly.
lots of love from Pakistan
The CISSP is not a compliance certification its a broad security certification. Compliance is not security.
Security compliance has it's own set of rules.
I have completed CAMS but did not get job.
did you finally find a job?
Is it worth the cost? Or is it lack of experience. I am still debating ACAMS worth?
@@solarrumi I just got my CFCS certification, I was thinking to take the CAMS exam. But so expensive...
R u preparing ??? Plz reply
@@lamine38r u preparing ??? Plz reply
How is ACAMS in comparison with CRCM
ACAMS is for BSA/AML. You would be able to obtain a CRCM with most BSA AML experience but not bel able to obtain the ACAMS with general compliance management systems experience.
@@jango1782 I am not sure I understand what you are saying. can you give me some more details
Ha….he said C I P P