Corporate Compliance Training

Part
01
of two
Part
01

Corporate Compliance Training - Top Programs

Some of the top compliance training programs available to practicing/active compliance officers in the United States include CCBCO, CRCM, and CAMS in the financial industry, CHC, CCP, and CMDCP in the healthcare industry, and CRISC, ITIL, and CGEIT in the IT governance and compliance industry.

FINANCE

Certified Community Bank Compliance Officer (CCBCO)

  • CCBCO is a broad certification program that is ideal for U.S. community banks. The program covers the areas of regulatory compliance a community bank Compliance Officer is accountable for.
  • The program can cost anywhere between $395 — $3,995.

Certified Regulatory Compliance Manager (CRCM)

  • The program requires three years of experience as a financial compliance officer and is best suited for officers willing to enhance their skills or credibility. The program covers risk assessment, audits, U.S. federal laws and regulations, etc.
  • The program costs $275 per year. Additionally, $750 has to be paid for taking the CRCM exam. For retaking the exam, it costs $450.

Certified Anti-Money Laundering Specialist (CAMS)

  • AML compliance officers “prevent money from flowing to and from criminals, terrorists, and others designated by the authority”. In order to be eligible, candidates must have prior experience and fulfill other requirements.
  • The program costs $295 — $825 for private-sector professionals and $195 — $525 for those working in the public sector.

HEALTHCARE

Certified in Healthcare Compliance (CHC)

  • The CHC program helps the officers in addressing the legal obligations and organizational integrity of healthcare. The program is suitable for active professionals looking to enhance their credibility and skills. Prior work experience is required to take up the program.
  • It costs $275 to $375.

Certified Medical Device Compliance Professional (CMDCP)

  • The program aims to provide compliance and regulatory training to ensure an officer is able to fulfill all the responsibilities as a CMDCP. The program covers topics such as quality and manufacturing concerns to product design, clinical trials, validation, and regulatory filings.
  • The program costs $495.

IT GOVERNANCE AND COMPLIANCE

Certified in Risk and Information Systems Control (CRISC)

  • The program covers topics such as IT risk identification, IT risk assessment, and risk monitoring. It ensures a successful career in IT and enterprise risk management.
  • The program costs $595 to $725.

ITIL Program

  • “The ITIL program encompasses the breadth and depth of ITIL processes and practices across all ITIL disciplines”. It is classified as foundation, practitioner, intermediate, expert, and master. The program covers all aspects of IT governance and compliance and is meant for serious candidates alone.
  • The program costs $4000 and includes all the sub-programs.

RESEARCH METHODOLOGY

We examined the public domain to identify some of the top training programs available to active/practicing compliance officers in the US. Very few sources provided relevant answers and some of them were outdated. Additionally, the data we discovered was specific to certain fields such as governance and medical and was not generic. Further, during an extensive search, we came across a list provided by Avatier, a popular software development company from the United States. The list highlighted all the top compliance programs that active/practicing compliance officers can take up for a successful career. The list was published in 2018 and is the latest data available in the public domain. Since Avatier is an extremely reputable company and some of its clients include Accenture, Atlantis, BlueSky, Clarion, DHL, Harvard Law School, etc. we made use of the list to provide some of the top programs that active/practicing compliance officers can pursue. The programs are offered online and can be accessed from anywhere across the globe. The cost of the identified programs was discovered by checking the vendors or providers offering the program.
Part
02
of two
Part
02

Corporate Compliance Training - Trends

Compliance organizations in the U.S. are promoting emerging and significant employee training trends to remain competitive. The 3 top trends in compliance employees' training in the U.S. — employed by HR managers in smart compliance organizations to navigate through the operational evolution and changes in corporate compliance — are high-tech training, personalized training, and gamification of training.

High-tech Training

Personalized Training

Gamification of training

Research Strategy

In an attempt to identify the top trends around corporate employee training in the U.S., we searched for news articles, press releases, media reports, and expert publications on the same. In selecting the expert publications to include in our sources, we checked the profiles of the authors to ascertain that they were indeed experts in their fields. We were able to procure pre-compiled listings of these trends in the numerous sources. After going through the numerous articles published in leading media outlets like Forbes, and leading e-learning platforms including, but not limited to, eLearning industry and KnowledgeCity, among others, we were able to identify three distinct key trends. The three trends that we finally picked were the most recurring, and the most consequential, according to these expert publications.



Sources
Sources

From Part 02
Quotes
  • "Many organizations are nixing one-size-fits all training plans and supplying employees with the specific learning they need for their role and location—when and how they want it. "
  • "Research shows this approach increases engagement, which in turn helps organizations meet and exceed their long-term goals."
  • "Now that costs are dropping for virtual and augmented reality, it’s branching out beyond the arcade crowd and across a wide range of topics and business applications, including compliance training."
Quotes
  • "“Technology is enabling our need to be mobile. We want to ensure that learning matches our lifestyle.”"
  • "Training should be specific to each learner. It is unnecessary to have every employee taking the same hour-long training"
Quotes
  • "The web is becoming more used as a means of finding instant information, with more than 70% of employees turning to search engines to learn what they need for their jobs."
  • "On-demand training taps into the motivation of your employees to be better and faster at their jobs, and supports what they’re already doing – taking control of their own learning."
  • "Compliance training trends will see an increase of training materials created for the points-of-need of employees and addressing real issues in real-time"
Quotes
  • "Accessibility should be at the forefront of any L&D team’s minds, and any strong LMS should allow your team to dictate your specific needs for bespoke eLearning content."
  • "A mobile-optimised LMS interface allows your teams to access their training anytime, anywhere no matter their device of choice."
Quotes
  • "E-learning is a trend that will continue to grow in the coming years. E-learning is a learning system and electronic sources such as computers, and the Internet is used to do this type of training...This type of training is best suited for providing compliance training."
  • "It is done to increase the engagement and make it more exciting for the learner. It is becoming more and more popular these days. Therefore, it is crucial to introduce gamification in HR."
Quotes
  • "Understandably, they feel that their critical and potentially life-saving OSHA-compliance training should not be equivalent to Donkey Kong. What they don’t realize is that gamification is simply a process of building a progressive reward system into training that imitates modern video games."
  • "Employees would agree that they don’t have the time to take away from their primary jobs to get the training. Delivering your training on multiple platforms, such as classroom, mobile and on-demand, can help eliminate the time crunch for busy employees."
Quotes
  • "Compliance needs to embrace and adopt emerging technologies such as natural language processing and artificial intelligence (AI) to enhance their employees’ skills and knowledge, improve their productivity, and help them deal with new challenges in areas such as data privacy and third-party regulation. "