Professional Certificate in Compliance

Con41

Has anyone studied for the certificate in Compliance in the Institute of Bankers?

There's 2 modules and they told me doing both models is do-able. Any views?

Thanks

Killarneygirl2

Con41 wrote: »

Has anyone studied for the certificate in Compliance in the Institute of Bankers?

There's 2 modules and they told me doing both models is do-able. Any views?

Thanks

Hey the first exam PDC1 is fine but PDC2 is tough - well I found it tough anyway there is a lot in the book. I wouldn't do them at the same time to be honest just because there is a lot of material to cover

Con41

Hi Killarneygirl2

Thanks for the reply. I signed up for both, purely based on the advice of the Institute who told me it was manageable, but there's no way I'll get both modules done. Module 1 exam is 7 September and module 2 is the following week. I'm going to see if I can postpone module 2.

Plus the weather isn't great for studying!!!

cp kiki

Hi,

Can you recommend the course? is it all distant learning?

are the exams tough?
do you know what the pass rate is?

there is very little information about people who have done this course.
Would be interested to hear a little feedback

has anyone passed the 4 modules? fro the diploma?

thanks
C

Con41

Hi C

I'm working my way through the first module (of 2). Seems ok-ish so far. Module 2 looks more difficult. No idea of the pass rate. You get sample questions but don't know how reflective they are of the actual exam. They also provide a list of areas where students found difficult, but again doesn't tell you much.

The exam is multiple choice, 3 marks for a correct answer and minus 1 for a wrong answer.

I've done a few courses before in other areas and usually get tips on the exam but don't expect anything like that this time.

I'd also be interested on success rate if there's anyone out there!

cp kiki

Thanks Con41,

it would be great to get more feedback about this course,
looks interesting,

maybe when you do your exam you could shed come light on how it was.

i done the Certificate in International Financial Services with the Institute of Bankers, that too had very little information, and the course was relevatively new, found it tough but ok, and the sample questions were very broad, exam basically covered topics of the whole book, the repeats had questions that were not on previous exams too but that was purely it was a new course.

Thanks

Con41

The course is interesting but that doesn't mean the exam will be!

I'll post feedback when the exams are done on 7 & 14 September (God that's so close!)

cp kiki

Good Luck with your exams

Dot31

Hello,
In my opinion as a compliance professional:

Advantages of the course:
- good for someone without prior qualifications, who wants to get knowledge about compliance;
- recognized qualification in Ireland;
- good lecturers;
- good theory;
Disadvantages:
- qualification recognized only in Ireland, there are other qualifications available on the market much better recognized internationally;
- course material is updated every year, however the learnt material is getting outdated very quickly due to many new regulations coming into force, you will need to learn further;
- material focused mainly on Irish market - however most of compliance officers work for companies which operate worldwide;
- good theory - but no practice. Most of professionals will not use this knowledge during their careers;
- far too overpriced in terms of the content - compare to other internationally recognized qualifications;

Quite often ACOI is desirable by employers, but there are already numbers of compliance professionals without job in their field having this diploma/certificate.

From my practice the best background in compliance is to have a good degree in law and good practical knowledge of the field.

Strongbow10

Would be looking for some info on this course aswell

I wish to do my first module starting this January. Is it possible to do this entirely through distance learning? (not based in Dublin)

Any help at all would be greatly appreciated

Con41

Hi Strongbow

I'm studying with the Institute of Bankers - you can only do the course by distance with them, but there are recorded webinars to help you. Course is fine, but you do have to study! The exam is multiple choice which means you have to study the whole course and not just concentrate of a few areas. I passed module 1 no problem, I've a lot to do for module 2 but hopefully get there. I'd recommend the course, compliance is becoming a big area. If you need any additional information let me know.

whitestone217

Hi Con41,

Loved your response. However, like the previous person said....ACOI is too domestic. Concentrates on the Irish market meanwhile most companies in Ireland are foreign based especially in the Financial services market.

2ndly, would you advise a Non-EU resident in Ireland (who qualified as a counsel in Nigeria) attempt this exam? What are my chances in the market? Being a stiff market.

Don't you think that the ACAMS is better? Because it has more international stature? And AML is a big issue now?