CAMLI - Professional Designations

Learn — Teach — Lead

The four W's of CAMLI's professional designations.

The Why

Since June 2000, the body of individuals tasked with managing an Anti-Money Laundering / Counter Terrorism Financing (AML/CTF) Compliance Program in Canada has grown to include over 400,000 reporting entities currently governed by this country's money laundering legislation. Many of the individuals initially tasked with the legislated risk management responsibilities found the job outside the scope of their existing knowledge, training and experience. Getting up to speed often became a combination of using what they read and heard from other resources combined with their own ingenuity and sense for what a compliance regime should include and how that would operate.

Their experience has resulted in a body of knowledge that in many respects has become the foundation for the various standards of practice used in building and maintaining an effective AML/CTF compliance program today:

• Standards and practices that represent a template/protocol against which an existing Compliance Officer's education, knowledge, and experience can be assessed and subsequently recognized through different levels of professional designation;
• Standards and practices that can be used by those newly appointed to the Compliance Officer role to assist with the education and skill development requirements of that role.

ABCsolutions, through the creation of the Canadian Anti-Money Laundering Institute (CAMLI), is providing a forum for measuring and recognizing those standards and practices through professional designations assigned for increasing levels of knowledge, experience, and leadership developed during an individual's AML/CTF compliance management career.

The What

Professionalism is usually measured by a combination of three factors — training, knowledge, and experience. Each factor is comprised of a variety of elements, all carrying a certain weight within the overall assessment of an individual's degree of achievement within the specific factor. Based on the cumulative weighting assigned to these three factors, a Compliance Officer will achieve recognition through specific professional designations, which must be maintained through a process of recognized learning and work experiences that support the maintenance of their professional designation standing.

The Who

CAMLI has established two professional designations, structured to recognize a Compliance Officer's progression through different stages of compliance development, delivery, management, and leadership within the AML/CTF control field. Each designation reflects a point, or level, in a compliance official's career where the individual has achieved a standard of expertise commensurate with the designated professional factors cited above.

The When

Designation Renewal Fee

The designation renewal fees are as follows:

• Regular Application $50
• Late Application $75

These fees are in addition to the regular membership fee.

• Regular = 1 month prior to renewal
• Late = less than 1 month prior to renewal
• Designation renewal fees are subject to change without notice.

What happens if I miss the deadline?

CAMLI designated members who do not submit their renewal information and payment within 1 month of their renewal date will have their membership suspended and will lose any acquired designations. CAMLI will notify members in cases of membership expiration and will provide that information to employers when requested.

Extensions

Extension of CAMLI membership and PD Credit requirements will be considered when a leave of absence occurs for reasons such as: health, maternity leave, full time education, and employment sabbatical. Members must submit a request to the CAMLI registrar as soon as possible to allow time for processing of the request.

Professional Development (PD)

The Canadian Anti Money Laundering Institute recognizes the importance of remaining current. Therefore, CAMLI professionals with a designation are required to earn Professional Development credits through training, education, and other professional development activities. This will ensure that designated members maintain and update their AML/CTF knowledge, practice, and expertise.

Professional Development Credit Requirements

• Within the two year membership cycle, designated members must complete a total of 8 hours PD per full year of professional designation.
• PD credits must have been earned within the last 24 calendar months.
• The Designation Renewal Application and fee must be submitted at least one month prior to the membership renewal date.

What qualifies for Professional Development Hours?

• Any courses offered by CAMLI or ABCsolutions Inc. will automatically qualify for PD hours. The number of hours will be listed with the course registration information.
• Attendance at the annual Money Laundering in Canada Conference.
• Courses, programs, workshops, seminars, or conferences offered by other organizations. The program agenda or outline must be submitted to CAMLI ahead of time in order to determine how many PD hours the activity qualifies for.
• Writing, instructing or speaking on the topic of money laundering controls and related topics. Consultation with the CAMLI registrar must occur ahead of time to determine the number of PD hours this activity qualifies for.

Professional Development Documentation Submission

Designated members should keep track of their renewal cycle and their PD credits. As a professional courtesy, the CAMLI registrar will contact members before the end of their membership cycle.