Professional Qualifications in Regulatory Compliance

Overview

OVERVIEW

The post–financial crisis landscape of the banking industry places regulatory compliance under greater scrutiny than ever before. Consequently, professionals who are well versed in the field of compliance are in great demand. Clearly aware of this need in the industry, AICB, together with the International Compliance Association (ICA), has designed the Certification in Regulatory Compliance to equip you to master the skills of regulatory compliance and risk.

There are 2 levels in Professional Qualifications in Regulatory Compliance:

Level 1 : Certification in Regulatory Compliance

This Certification is the first in a series of courses that will take you from entry level to becoming a professional Compliance Officer in the banking and financial services landscape of today. This programme is designed to equip you to demonstrate knowledge, understanding and skills regarding:

  • The regulatory environment, including the role and powers of Bank Negara Malaysia (BNM)
  • The role and responsibilities of both the compliance function and the Compliance Officer, and the skills needed to successfully discharge these
  • The implementation of key compliance activities plus awareness of different types of financial crime

 

Who is this for?
  • New graduates from any discipline
  • Those wanting to build a career in compliance in the fields of: – Banking – Insurance – Other financial services
  • Staff involved in risk functions and internal or external audit
  • Anyone with less than 3 years of experience in compliance or anti–money laundering (AML)

Level 2 : Advanced Certification in Regulatory Compliance

The Compliance function has assumed an increasingly important role due to the changing regulatory environment in the financial services.  This certification is at Level 2 of the Regulatory Compliance qualification series.  It gives the necessary knowledge, skills and understanding of key topics that affect Compliance Professionals particularly an in-depth view on the inter-relationship between governance, risk and compliance.

 

Who is this for?
  • Compliance, AML and Financial Crime Officers
  • Money Laundering Reporting Officers
  • Money Laundering Prevention Officers
  • Managers with responsibility for Internal Compliance Controls
  • Internal and External Audit Staff
  • Company Secretaries
  • Legal Practitioners and Support Staff
  • Accountants

This Certification is jointly awarded by AICB and ICA. All ICA qualifications are awarded in association with Alliance Manchester Business School, the University of Manchester; the largest campus-based business and management school in the UK.

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Modules

Level 1 : Certification in Regulatory Compliance

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COURSE SYLLABUS

Module 1  The Malaysian Regulatory Environment
  • The need for, and objectives of, regulation
  • The Malaysian regulatory environment: evolution of financial services regulation in Malaysia
  • The Malaysian regulators and their powers
  • Regulatory models: approaches to regulation
  • Regulatory principles and sources of regulation
  • Independence, transparency and accountability of regulators
  • A primer on the prevention of financial crimes
Module outcomes
By the end of this module you should:
  • Have a broad understanding of the Malaysian financial services regulatory environment
  • Appreciate the history and development of financial services and its regulation in Malaysia
  • Be familiar with a variety of different models of regulation
  • Understand the role of BNM and how it carries out its regulatory function
  • Understand the need for regulators to be independent, transparent and accountable for their actions
  • Be aware of the impact of financial crimes on financial services organisations and the need for regulation and compliance
Module 2 The Role of the Compliance Function
  • Compliance structure
  • The role of the Compliance Officer
  • Key compliance activities and processes
  • Risk-based compliance monitoring
  • Investigating compliance breaches
  • Preparing for and managing a regulatory supervisory visit
  • Drafting compliance reports
  • Managing key relationships
  • Compliance, culture and ethics
  • Training
Module outcomes
By the end of this module you should:
  • Understand the structure and purpose of compliance within a firm
  • Be familiar with the role of the Compliance Officer
  • Be able to outline key compliance activities and processes
  • Understand the basis for risk-based compliance monitoring
  • Appreciate how to conduct investigations into compliance breaches
  • Understand what is required in preparation for a compliance visit
  • Be familiar with reporting requirements
  • Be able to explain the need to manage key relationships
  • Understand the link between compliance, culture, ethics and training
Module 3 Compliance in Practice
  • Practical considerations
  • Compliance oversight: understanding issues and concerns
  • Specific internal compliance control issues
  • Governance, risk and compliance (GRC) functions
  • Risk issues
  • Managing risk
Module outcomes
By the end of this module you should:
  • Be able to evaluate the key features of an annual compliance plan, compliance manual, and compliance handbook discussing the importance of rigorous high-level systems and controls
  • Understand the necessity of oversight of regulatory compliance by the firm from both the board and the compliance function
  • Be able to outline the operation of specific internal controls
  • Understand the roles played by GRC functions and how these relate to other functions within a firm
  • Determine risk types and indicators for a variety risk areas
  • Be able to explain how the compliance function contributes to the management of risk
Module 4 Corporate Governance, Creating a Compliance Culture & the Benefits of Compliance
  • An introduction to corporate governance
  • Bank Negara Malaysia’s (BNM’s) role in the enhancement of Malaysia’s corporate governance regime
  • The Malaysian corporate governance regulatory framework
  • Creating an effective compliance environment
  • Sustainability, reputation and ethical practices
  • Financial reporting in Malaysia
Module outcomes
By the end of this module you should:
  • Understand the contribution of international and national organisations, and regulators in the development of corporate governance
  • Be able to explain BNM’s role in the enhancement of Malaysia’s corporate governance regime
  • Be able to describe how Malaysia’s corporate governance regulatory framework impacts on firms
  • Appreciate the importance of an ethical and compliance culture for establishing an effective compliance environment
  • Understand the relationship between ethical practices, reputation and conduct in maintaining a sustainable business
  • Understand the ways in which each of the principles may affect firms and the potential penalties for breaches
  • Be able to explain aspects of financial reporting that is significant for compliance and for a firm

Level 2 : Advanced Certification in Regulatory Compliance

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COURSE SYLLABUS

  Syllabus Content
Unit 1 Understanding the Regulatory Environment
Unit 2 Approaches to Regulation
Unit 3 Regulatory Requirements in Malaysia
Unit 4 The Role of the Compliance Officer
Unit 5 Risk Management
Unit 6 Designing an Internal Compliance System
Unit 7 Dealing with Regulatory Issues and Enforcement Action
Unit 8 Compliance with Prudential Regulation
Unit 9 Corporate Governance, Creating a Compliance Culture and the Benefits of Compliance
Unit 10 Advising Business Units on Regulatory Compliance Matters
Unit 11 Managing the Risk of Financial Crime

Pricing & Fees

Programme Fees 

Level February 2019 Intake Price
(RM)		 August 2019 Intake Price
(RM)
Certification in Regulatory Compliance 6,000 6,000
Advanced Certification in Regulatory Compliance  8,000 8,000

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Enrolment & Exemption

*Membership Requirement – Candidates are required to be Individual Members of AICB.

Certification in Regulatory Compliance

In order to enrol as a candidate for the Certification in Regulatory Compliance qualification an applicant must satisfy the following requirements:

  • holds the SPM or equivalent or higher-level qualification; and
  • has the ability to complete the reading and written aspects of the programme in English.

Advanced Certification in Regulatory Compliance

Standard Route (Enrolment)

  • Completed Certification in Regulatory Compliance
  • At least 1 year of Compliance-related experience

Accelerated Route (Exemption)
Exemptions will be considered for the Certification in Regulatory Compliance based on the following requirements:

  • Holds a degree or professional qualification
  • Has 3 years of Compliance-related work experience

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Assessment

ASSESSMENT STRUCTURE

Level 1 : Certification in Regulatory Compliance Level 2 : Advanced Certification in Regulatory Compliance
Examination (50%)

  • Open book examination: a choice of questions, including case studies, report writing and essays
  • Duration: 1 hour and 30 minutes with 15 minutes reading time
 Examination (50%)

  • Open book examination: a choice of questions, including case studies, report writing and essays
  • Duration: 3 hour with 15 minutes reading time
Written assignment (50%)
Approximately 2,000 –  2,500 words		 Two (2) written assignments (50%)
Approximately 3,000 words each
Pass mark: 50% Pass mark: 50%
Grade Band

For both Level 1: Certification in Regulatory Compliance & Level 2: Advanced Certification in Regulatory Compliance

Grade Band Marks
Distinction 70% & above
Merit 60% – 69%
Pass 50% – 59%
Marginal Fail 40% – 49%
Fail 39% & below
Instructional Methodology
Self-study through reference texts and assigned reading
Online learning materials
Master classes

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Exam Activity Schedule

Certification in Regulatory Compliance

Print
EXAM ACTIVITY SCHEDULE 2019 INTAKE
FEBRUARY 2019
Programme Intake Code CE/02/19-09
Enrolment Period* 22 Oct 2018 (Monday)
to
21 Dec 2018 (Friday)
Workshop & Exam Registration Closing Date 11 Jan 2019 (Friday)
Commencement Intake
(Access to ICA LMS)		 25 Jan 2019 (Friday)
Dates for Workshop** 4 & 5 Mar 2019 (Monday & Tuesday)
Due Date for Assignment 29 Mar 2019 (Friday)
Examination Date 15 Jun 2019 (Saturday)
Result Release by AICB 23 Aug 2019 (Friday)
Exam Centre KL
EXAM ACTIVITY SCHEDULE 2019 INTAKE
AUGUST 2019
Programme Intake Code CE/08/19-10
Enrolment Period* 5 Apr 2019 (Friday)
to
31 May 2019 (Friday)
Exam Closing Date or Payment/LND Approval Closing Date 28 Jun 2019 (Friday)
Commencement Intake
(Access to ICA LMS)		 15 Jul 2019 (Monday)
Dates for Workshop** 19 & 20 Aug 2019 (Monday & Tuesday)
Due Date for Assignment 16 Sep 2019 (Monday)
Examination Date 23 Nov 2019 (Saturday)
Result Release by AICB 7 Feb 2020 (Friday)
Exam Centre KL

Important Note:

* New candidates are required to complete their qualification enrolment with AICB during the enrolment period.  Applications for qualification enrolment must be submitted with complete documentations, failing which applications will not be processed.

** Note: Workshops are conducted from 9.00am – 5.00pm at Asian Banking School

Disclaimer:

  1. Both AICB and ICA reserve the right to cancel, suspend, interrupt or reschedule any face-to-face workshops/sessions or examination to another date and will not be liable for any claims, actions, costs, charges, expenses, damages, loss and liability due to the cancellation/deferment of these face-to-face workshops/sessions or examination.
  2. Please adhere to the above closing dates, otherwise AICB will not be responsible for any delay in the enrolment or registration.

Advanced Certification in Regulatory Compliance

EXAM ACTIVITY SCHEDULE 2019 INTAKE
FEBRUARY 2019
Programme Intake Code AC/02/19-15
Enrolment Period* 26 Nov 2018 (Monday)
to
25 Jan 2019 (Friday)
Workshop & Exam Registration Closing Date 22 Feb 2019 (Friday)
Commencement Intake
(Access to ICA LMS)		 15 Mar 2019 (Monday)
Dates for Workshop** Workshop 1
8 & 9 Apr 2019 (Monday – Tuesday)
Workshop 2
15 & 16 Jul 2019 (Monday – Tuesday)
Due Date for Assignment 1 10 May 2019 (Friday)
Due Date for Assignment 2 9 Aug 2019 (Friday)
Examination Date 5 Oct 2019 (Saturday)
Result Release by AICB 13 Dec 2019 (Friday)
Exam Centre KL
EXAM ACTIVITY SCHEDULE 2019 INTAKE
AUGUST 2019
Programme Intake Code AC/08/19-8
Enrolment Period* 13 May 2019 (Friday)
to
12 Jul 2019 (Friday)
Exam Closing Date or Payment /LND Approval Closing Date 23 Aug 2019 (Friday)
Commencement Intake
(Access to ICA LMS)		 13 Sep 2019 (Friday)
Dates for Workshop** Workshop 1
14 & 15 Oct 2019 (Monday – Tuesday)
Workshop 2
13 & 14 Jan 2020 (Monday – Tuesday)
Due Date for Assignment 1 11 Nov 2019 (Monday)
Due Date for Assignment 2 27 Jan 2020 (Monday)
Exam Date 4 Apr 2020 (Saturday)
Result Release by AICB 19 Jun 2020 (Friday)
Exam Centre KL

Important Note:

* New candidates are required to complete their qualification enrolment with AICB during the enrolment period.  Applications for qualification enrolment must be submitted with complete documentations, failing which applications will not be processed.

** Note: Workshops are conducted from 9.00am – 5.00pm at Asian Banking School

Disclaimer:

  1. Both AICB and ICA reserve the right to cancel, suspend, interrupt or reschedule any face-to-face workshops/sessions or examination to another date and will not be liable for any claims, actions, costs, charges, expenses, damages, loss and liability due to the cancellation/deferment of these face-to-face workshops/sessions or examination.
  2. Please adhere to the above closing dates, otherwise AICB will not be responsible for any delay in the enrolment or registration.

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Documentation

DOCUMENTATION

The applications submitted will only be processed upon receipt of the full documentations.  Candidates who submit incomplete applications (i.e. incomplete details or incomplete supporting documents) will be given five working days to provide the required information and/or documentation.  If the candidate fails to submit the required information or complete set of relevant supporting documents within the five working days, the application will not be processed.

Below is the list of documents that are required for each qualification.

Qualification Documents Required
 Standard Route (Enrolment)  Accelerated Route (Exemption)
Certification In Regulatory Compliance
  • Certificate of highest qualification (min SPM or equivalent certificate)
 N/A
Advanced Certification In Regulatory Compliance
  • Certification in Regulatory Compliance (ICA/AICB) Certificate; OR certificate of highest qualification; AND
  • Curriculum Vitae (CV) highlighting work experience in Compliance-related function
 N/A

Important notes:

Qualification certificates/transcripts submitted must be certified true copy by one of the following:

  • University Official; OR
  • Notary Public; OR
  • Commissioner for Oaths; OR
  • Officer of the employing organization; OR
  • Such other persons or agents as may be approved by Institute.

The signatory must sign and date the document(s) and provide the following details:

  • Name:
  • Designation:
  • E-mail:
  • Contact Number:

a) If the documents are not in English or Bahasa Malaysia, they must be accompanied by translation of the documents which is done by a certified translator. The credentials and contact information of the certified translator must be stated.

b) Qualifications submitted for enrolment as a candidate for a qualification or for exemption must be awarded by universities/higher education institutions recognised by the awarding country’s Ministry of Higher Education or equivalent authority or the National Qualification Accreditation Agencies.

c) Malaysian qualifications should be listed in the Malaysian Qualifications Register or in Finance Accreditation Agency (FAA) website.

d) AICB reserves the right to contact the awarding institution to verify a candidate’s qualification awards.