CAMLI Designation - Practicing Associate

At this first level, CAMLI will assess AML/CTF compliance professionals who are, or have been, tasked with the basic compliance responsibilities to ensure a reporting entity meets its legislated responsibilities, including but not necessarily limited to: the knowledge and understanding of money laundering and terrorist financing; understanding of, and experience with the five elements of an AML compliance regime and its delivery within the reporting entity environment; experience and knowledge in the identification and reporting of designated transactions to FINTRAC; knowledge of the steps in responding to a Compliance Regime examination/audit by a designated Regulatory Authority, FINTRAC or otherwise; involved to some degree in the maintenance of a training program for company employees subject to legislated compliance responsibilities; and demonstrated involvement in the on-going maintenance of the current application of the company compliance regime.

Assigning this designation will be based on the following information sources:

• A detailed application form focusing on knowledge, training and experience.
  
  
• One letter of reference
  
  
• Documented evidence of a minimum two years experience in AML/TF compliance
  
  
• Successful completion of an on-line examination.

 

Letters of Reference

Applicants for the Practicing Associate designation will be required to submit one professional reference with their application.

Who can be used as a reference?

Criteria for acceptance of Professional References include:

• The applicant must have known the referee for at least one year.
• The applicant must have known the referee in a professional capacity.
• The referee must have recent knowledge of the applicant's work experience (within the past two years).
• The referee must not be a family member.

 

On-Line Examination

One of the key elements of the CAMLI designation application process is the on-line exam. This exam is the last step of the process and only after all other steps have been completed will the applicant be permitted to take the exam.

How do I take the exam?

The exam is completed online via the CAMLI website. You will be required to have a supervisor or management team member from your organization witness that you completed the exam independently. You will have one opportunity to pass the exam. A passing grade is 75%.

What does it cover?

The exam covers the basic knowledge required by an individual who is acting in the role of a Compliance Officer.

The designation process evaluates knowledge in the following areas:

• Understanding Money Laundering;
• Understanding Terrorist Financing;
• Compliance Regime;
• Suspicious Transaction Indicators;
• Reporting Requirements;
• Client Identification Requirements;
• Record Keeping Requirement; and
• Global Anti-Money Laundering Organizations and Initiatives.

If you are unsure of your knowledge in any of these areas, CAMLI strongly recommends studying and researching that area prior to taking the exam as you will only be able to take the exam once.

What happens if I fail the exam?

In the event that an applicant does not pass the examination they will have two options:

•  Wait 6 months and then reapply for the designation. This will allow the applicant time to study and update their knowledge. A new application fee will apply.

•  Applicants may enroll in CAMLI's Compliance Officer 101 Training Program. Upon successful completion of that course, they may retake the designation exam immediately and at no additional cost.