Our qualifications help compliance professionals develop relevant knowledge and best practice for operating within the fields of governance, risk and compliance, financial crime prevention and anti money laundering (AML). Awarded in conjunction with the Alliance Manchester Business School, The University of Manchester, you can be assured that you are studying for a worthwhile qualification that is the benchmark of excellence.
ICA is the trusted partner for you and your organisation.
The term compliance describes the ability to act according to an order, set of rules or request.
In the context of financial services businesses compliance operates at two levels.
Level 1 - compliance with the external rules that are imposed upon an organisation as a whole
Level 2 - compliance with internal systems of control that are imposed to achieve compliance with the externally imposed rules.
There is considerable variation within and across pay scales for compliance and compliance related roles. Salaries tend to focus on the skill sets required for a role, rather than being defined by the job title. Therefore, no two compliance officer roles are likely to be established on the same pay scale.
Compliance professionals not only navigate a complex regulatory environment but also add a key commercial perspective. They enable the right business to be conducted in the right way and help firms achieve success by using systems and controls to ensure effective risk management.
The availability of funding varies from jurisdiction to jurisdiction. Funding is available in some jurisdictions for programmes of study leading to ICA qualifications. Discover what funding is available to you.
Our qualifications help compliance professionals develop relevant knowledge and best practice for operating within the fields of compliance. Awarded in conjunction with the Alliance Manchester Business School, The University of Manchester, you can be assured that you are studying for a worthwhile qualification that is the benchmark of excellence.
ICA Certificates are considered introductory level. This means that they are suitable for those with no experience or in an operational role and requiring some awareness level understanding of an area. They are designed for those who need to understand the fundamentals of the subject area and recognise key issues, particularly relating to risk.
Advanced certificate courses are considered Intermediate and are designed for those new to the discipline or in a junior role who want to enhance their knowledge & skills.
Advanced Certificates are a natural stepping stone between Certificate graduates before completing an ICA Diploma.
ICA Diploma courses are considered advanced and are designed for those who already have some experience and are looking to underpin their knowledge with a professional qualification.
Diplomas are most commonly undertaken by Certificate and/or Advanced Certificate graduates.
Our Professional Postgraduate Diplomas are considered Expert and has been specifically designed as an advanced programme for senior industry practitioners. Completion of this course will help you to operate at the highest level within your organisation and master specialist knowledge.
What duty, objective and responsibility does a Compliance Officer fulfill?
DUTY - The Compliance Officer has a duty to his employer to work with management and staff to identify and manage regulatory risk.
OBJECTIVE - the overriding objectives of a compliance officer should be to ensure that an organization has systems of internal control that adequately measure and manage the risks that it faces.
RESPONSIBILITY - The general responsibility of the Compliance Officer is to provide an in-house compliance service that effectively supports business areas in their duty to comply with relevant laws and regulations and internal procedures.
What are the five key functions of a Compliance Department?
Corporate governance is a highly inclusive concept that covers a number of different aspects about the way in which an organisation is managed, directed and governed.
It can be described as a set of relationships between a company’s management, board, shareholders, and other stakeholders, which provides the structure through which the objectives of the company are set. Furthermore it provides the means of attaining and monitoring performance against those objectives.
What does the term 'regulation' mean?
The term ‘regulation’ generally refers to a set of binding rules issued by a private or public body with the necessary authority to supervise compliance with them and apply sanctions in response to violation of them.
What are five generally accepted key core objectives of financial services regulation?
Although there is no unified theory of financial services the key objectives of regulation is as follows.
What are three key attributes of effective regulation?
Effective regulation is regulation that:
What is primary and secondary legislation?
Primary legislation refers to the Law, Act or Ordinance passed by the legislative of a particular jurisdiction.
The legislature in many jurisdictions has the power to delegate or subordinate law making powers to other agencies that may then make delegated or subordinate legislation often referred to as “secondary” legislation. In the context of financial services, secondary legislation is generally legislation that has been drafted by a regulatory body empowered to do so pursuant to the primary law by which it is established.
What are regulatory codes or rules?
Codes generally set out the broad principles by which a regulated business is expected to conduct its business.
Rules are generally very detailed and relate to every regulated activity and function.
What are regulatory guidance notes?
Guidance can either be in the form of a statement of best practice or a statement of minimum best practice.
Occasionally a regulatory authority will feel compelled to issue detailed guidance to regulated businesses on how it expects them to actually discharge their legal and regulatory obligations. Anti money laundering and terrorist financing is one area where most regulators around the World have issued guidance.
What functions does a regulator usually fulfill?
In broad terms regulators fulfill the following seven functions:
What steps does a regulator utilize in it's supervisory process?
Many regulators adopt a risk-based approach to supervision and follow a process of supervision that can be divided into the following four steps:
Step 1. Defining the objectives
Step 2. Obtaining information from regulated businesses
Step 3. Assessing the risk that regulated businesses face and pose
Step 4. Taking action in response to the risk assessment
What two key methods does the regulator utilize in supervising regulated businesses?
There are essentially two methods by which compliance with regulatory rules is monitored – Onsite supervision and Offsite desk based supervision.
What are the two commonly accepted objectives of prudential regulation?
What are conduct of business rules?
Conduct of business rules govern the manner in which a business conducts itself in its relationships with consumers. Conduct of business rules impose minimum standards of acceptable conduct upon regulated businesses.
What is regulatory enforcement?
Enforcement is a necessary product of the process of authorisation and supervision, in the sense that a regulator must enforce compliance with rules. Enforcement is as much about investigating, gathering and sharing information as it is about imposing penalties.
What five processes does regulatory enforcement normally entail?
Enforcement generally entails the following:
What are the common enforcement powers of a regulator?
What six basic factors should you consider when looking at risks in your organisation?
If you’re considering developing your career in anti money laundering, becoming an ICA member will give you access to a wealth of knowledge, tools, resources and practical support to help develop your career. Being a member of ICA also demonstrates a commitment to the highest standards of practice and conduct and enhances your professional reputation and employability.
We have four different levels of individual membership. Whether you are just starting out in your career, have gained an ICA professional qualification or are an experienced practitioner, there is a level appropriate for you.
This level of membership is for those currently studying towards an ICA qualification. In addition it provides you with the following individual benefits that will help you with your studies:
As a Student member you will be required to sign up to the ICA Code of Conduct Depending on the course you are studying you would need to purchase one of the following Student membership levels.
Qualification | Student Membership Price |
---|---|
For Certificates/Specialist Certificates | £30 |
For All other qualifications | £107 |
This level of membership is the ICA's entry level membership grade:
As an Affiliate member you will be required to sign up to the ICA Code of Conduct and we recommend that you complete (and log) a minimum of 10 hours of CPD each year.
Number of years | Affiliate Member |
---|---|
1 year | £107.00* |
Associate membership is a mark of achievement that recognises your commitment to professionalism through studying. This level is for those who have successfully completed an ICA Advanced Certificate.
As an Associate member you will be required to sign up and adhere to ICA Code of Conduct and complete a mandatory 35 hours of Continuous Professional Development (CPD) each year.
Number of years | Associate Member |
---|---|
1 year | £123.00 |
Being a Professional Member of ICA is a globally recognised mark of professionalism and excellence.
This membership level demonstrates the highest levels of practical and academic knowledge and is available to holders of an ICA Diploma qualification or those who qualify via the experienced practitioner*route.
As a Professional Member you will sign up and adhere to the ICA Code of Conduct and agree to undertake 35 hours of mandatory Continuous Professional Development (CPD) each year.
Number of years | Professional Member |
---|---|
1 year | £176.00 |
2 years | £317.00 |
3 years | £449.00 |
Being a Fellow of the ICA is a mark of prestige and is our highest level of membership. It demonstrates a high level of competence and achievement and represents your ongoing dedication to professionalism.
There is an expectation that as a Fellow, will add value to the growing ICA community. This can be done in a variety of ways such as contributing to inCOMPLIANCE®, designing content for the CPD Centre, serving on an ICA Branch committee or becoming an examiner. Of course we are always open to ideas and suggestions that play to your individual personal strengths that our community would benefit from.
This level of membership is:
To maintain this status, you must sign up and adhere to the ICA Code of Conduct and complete a further 35 hours of Continuous Professional Development (CPD) each year.
Number of years | Fellow Member |
---|---|
1 year | £210.00 |
2 years | £378.00 |
3 years | £535.00 |
Help and support
Alternatively contact us on: +44(0)121 362 7534 / icainfo@int-comp.org (Course information)
or +44(0)121 362 7533 / learningsupport@int-comp.org (Enrolled learners)
or +44(0)121 362 7747 / membership@int-comp.org (Membership)
or +44(0)121 362 7657 / assessment@int-comp.org (Assessment)
or +44 (0) 121 362 7503 / epa@int-comp.org (End Point Assessment)