Course Overview
On 6th March 2020, the FATF published official guidance recognising the need for CDD teams to acknowledge the requirement that organisations may need to onboard customers virtually. It has therefore never been more important to have robust controls and procedures in place to Know Your Customer (KYC). Adequate due diligence on new and existing customers is a key part of these controls. Without this due diligence, your firm can become subject to reputational, operational, legal and financial risks.
Course Content
With this qualification the ICA has successfully created an engaging, practical and informative learning journey that is proven to work for virtual CDD teams onboarding in a virtual world.
Topics to be covered include:
Outcomes and success criteria of KYC
- Identification and verification
- Understanding the customer
- Understanding the relationship
- Beneficial ownership
- Understanding the control structure of the entity
- Customer screening
- Risk acceptance
- Enhanced due diligence
This course is offered by International Compliance Association Commercial Services (ICA’s approved training provider) and comprises self-study at home through the online learning platform for 6 months plus attendance at four interactive half day virtual classrooms assessed by an exam at the end of the study journey. Workshops are highly interactive working sessions designed to ensure maximum learning effectiveness. All workshops are conducted by a leading industry expert with extensive experience of the financial services sector. All delegates are strongly advised to attend all workshops prior to taking the assessments to gain maximum benefit of the programme.
It is recommended that you study 6-8 hours per week over the six month period. There will also be pre-reading/exercises/tasks to be completed in advance of virtual workshops, delivered via the online learning platform.
You can request a copy of the full syllabus here.
Next enrolment by: 20 January 2025.
The full course timetable can be found here.
Course Benefits
This qualification has been designed for KYC analysts and professionals at all stages in their career who manage risk in the Customer Due Diligence (CDD) process. The only professional qualification in practical CDD, it’s vital to understand the threat and mitigate the risk.
This course is suitable for:
- Those engaged in practical CDD - in an onboarding or remediation function
- Contractors who wish to enter the CDD environment
- Managers who oversee CDD teams
- Those responsible for creating/developing CDD frameworks
- New/recently appointed MLROs and deputies
- Internal auditors assuming responsibilities for money laundering/financial crime issues
- All individuals engaged who aspire to a career in anti money laundering
Assessment
This six month course is assessed by a multiple choice question assessment and a formal examination.
ICA qualifications, where stated, are awarded in association with Alliance Manchester Business School, the University of Manchester.
Prerequisites
This Advanced Certificate is open to anyone who is interested in pursuing a career in the discipline. The content of the course requires you to possess a sound educational background and good written English skills.
You are also required to have access to a laptop or desktop computer with headphones and microphone in order to access the virtual format of the programme (you cannot dial-in or use audio only).
In order to study any ICA qualification you need to be a member of the ICA. If you’re not currently a member of the ICA, membership will be added to your basket during checkout.
The ICA has five different levels of individual membership. Whether you are just starting out in your career, already hold an ICA qualification or are an experienced practitioner, there is a level appropriate for you and this will be activated at the same time as your course commences.
Next Steps
Whilst the GTA facilitates the training for ICA qualifications, you need to enrol online directly with the ICA. Scroll down when you reach this page and enter Guernsey when it asks ‘Where are you based?’ You can then follow the process to enrol.