Anti-Money Laundering Professional Certification®
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Anti-Money Laundering Professional Certification® Continuing Education and Renewal Fee In order to ensure the quality and standards of the Certified AMLP, there is a requirement of 20 CPE hours that must be taken over a one year period, which starts the January after the candidate is notified of becoming an AMLP. Content of the CPE courses must be applicable to AML, BSA, OFAC, SAR, or CIP. A current annual renewal fee of $175 will be assessed. Renewal notices will be mailed end of January and payment is due within 30 days. Download the AMLP CPE Reporting Form (pdf) Continuing Professional Education (CPE) Program Guidelines Program Purpose The purpose of BAI Center for Certification - Anti-Money Laundering Professional (AMLP) Continuing Professional Education (CPE) Program is to promote professional development and to provide a means for recognizing AMLPs to keep current with industry changes or furthering their own development in AML operations for the financial services industry. This program is designed to ensure that the skills, knowledge and expertise originally required to become a AMLP, are maintained on a continuing basis. Administration BAI Center for Certification developed the AMLP Examination and is the sole sponsor of the AMLP Continuing Professional Education Program which maintains and processes CPE records and collects all annual certification renewal fees. BAI Center for Certification also establishes, monitors, and approves CPE hours. Program Requirements Active Status AMLPs must meet the following three (3) program requirements to maintain active status. If these requirements are not met, you will be moved to inactive status. 1. Maintain Continuing Professional Education: AMLPs must acquire and report a minimum of 20 contact hours of qualifying CPE activity within a one-year re-certification period which starts the January after successfully completing the AMLP examination. 2. Comply with the AMLP Code of Ethics. 3. Pay the annual AMLP certification renewal fee, which is now due every January 31st after completing the AMLP exam, and every Jan 31st thereafter. Please call BAI at 888-284-4078 if you do not receive an invoice. You are responsible for address updates and payment of dues regardless of receiving an invoice. Inactive Status AMLPs are automatically placed on inactive status when they fail to meet the established annual CPE requirements. AMLPs also become inactive if they fail to pay the required annual renewal fee. AMLPs in the inactive status may not use the AMLP designation and will not be entitled to any AMLP benefits. To Reactivate: A reactivation fee plus the Active fee ($75 + $175 for BAI members and $75 + $200 for non-members) will be assessed at the time of the request. At the time of reactivation, AMLPs must report the required CPE hours for the prior year. Qualifying Activities Activities and training designed with AML management and operations content will satisfy CPE program requirements. These activities must demonstrate a progressive course of action that continues to build on professional competence within the risk management profession. BAI Center for Certification requires that AMLPs report their continuing education activities, but proof of completion is not required to be submitted with the form. BAI Center for Certifications does retain the right to audit an individual's continuing education report and will conduct random audits each year. Activities that qualify for continuing education credit include but are not limited to: • Conferences • Seminars/workshops/webcasts • Professional designation exam review courses • School course work • Self-study programs • Online training • In-house training courses • Professional and trade association meetings The following restrictions apply: 1. SELF-STUDY PROGRAMS: A maximum of 10 contact hours per year will be accepted for self-study programs that contribute to a CBAs professional competence. Contact hours for self-study courses should be based on the average completion time determined by the sponsor. It is recommended that the CBA keep the completion certificate or final exam grade on file. 2. ONLINE TRAINING (not including Webcasts): A maximum of 10 contact hours per year will be accepted for e-learning courses which contribute to a CBAs professional competence. Contact hours for online training should be based on the average completion time determined by the sponsor. It is recommended that the CBA keep the completion certificate or final exam grade on file. 3. IN-HOUSE TRAINING COURSES: A maximum of 10 contact hours per year will be accepted for formal in-house training programs that contribute to a CBAs professional competence. In-house courses that focus on specific policies, procedures and/or systems of a specific institution/company will not qualify unless specific and identifiable auditing content is covered. The following documentation must be kept by the CBA as evidence of proper completion of in-house training: program name, topic outline, sponsor, contact hours, program agenda and speaker's biography. 4. COLLEGE OR UNIVERSITY COURSES: Relevant to the audit profession will be accepted and awarded CPE contact hours as follows: 1 semester hour = 15 CPE contact hours; 1 quarter hour = 10 CPE contact hours. The CBA needs to keep a current transcript on file. 5. PASSING OTHER RELATED PROFESSIONAL DESIGNATION EXAMS: 5 CPE contact hours are awarded for each exam that a CBA actually sits for and successfully passes on a professional exam related to auditing (for example Certified Public Accountant, CPA or Certified Information Systems Auditor, CISA). This includes successful completion of any related written exam completed after the initial Certified Bank Auditor designation is awarded. A copy of the designation's certificate and/or a sponsor letter acknowledging successful completion of all exam parts must be kept by the CBA as evidence of proper completion of CPE hours. Questions as to whether another professional designation exam would qualify should be directed to BAI Center for Certification, CBA Certification Manager. 6. TESTS IN PROFESSIONAL PUBLICATIONS: A maximum of 5 CPE credits can be earned annually by successfully completing tests based on articles on auditing in related professional publications. Documentation must be maintained evidencing successful completion. Teaching/Lecturing Teaching/lecturing/presentations given at qualified programs or meetings as listed previously, may be awarded CPE credit. CPE credit will be awarded for twice the contact hours of actual participation for initial courses or presentations only. Documentation must be submitted in order to receive credit. One hour of CPE credit can be earned for each hour of proctoring the AMLP exam. If you proctor two (2) calendar exams, you may be eligible for 15 CPEs. Authorship/Research Books, monographs, articles and research studies that are published may be awarded CPE credit. Credit, up to a maximum of 20 contact hours per year will be awarded to the authorship. Details to be kept by the AMLP include the date or edition of the publication, the periodical in which it appeared or the publishing house, and the title of the book, article or research paper. In addition, a copy of the work must be submitted for evaluation in order to award the appropriate number of credits. Professional Participation Participation as chapter officer or director or as a member of an advisory group can earn CPE credit. Participation must be with a professional or industry-related organization. A maximum of 20 contact hours can be earned annually in this manner. Documentation must be submitted to BAI Center for Certification for evaluation. AMLP Exam Question Development The development of questions for AMLP exams can earn CPE credit. Each question submitted will receive credit for one (1) contact hour. A maximum of 20 contact hours can be earned annually in this manner. To earn credit, questions must be submitted in the proper format. Please note: In all cases, BAI Center for Certification will not collect or maintain specific course or activity documentation to evidence completion of an individual’s CPE requirements. This means the AMLP must maintain his or her own documentation for each CPE activity and make copies available to BAI Center for Certification upon request. Questions: Contact BAI Center for Certification at BAICenter@bai.org. Contact Hours Calculation Contact hours are the actual hours spent in connection with an activity. One contact hour represents one hour of active involvement in an educational activity. Time spent in breaks or at lunch does not qualify as contact hours unless further educational activity is provided (e.g., luncheon speaker). One contact hour is equivalent to one CPE credit hour, unless otherwise stated by a continuing education sponsor. Reporting In all cases, BAI Center for Certification will not collect or maintain specific documentation on CPE courses or activities to evidence completion of an individual’s CPE requirements. This means the AMLP must maintain his or her own documentation for each CPE activity. Each AMLP is responsible for reporting the number and type of activities (e.g. programs/meetings, teaching/lecturing, etc.) of CPE hours earned for the annual certification renewal period ending December 31. The CPE hours obtained should be reported to BAI Center for Certification on or before January 31, of the following year. Correspondence of any related issues should be sent to: BAI Center for Certification ATTN: Anti-Money Laundering Professional Program 115 S. LaSalle Street, Suite 3300 Chicago, IL 60603-3801 Address Updates Please contact BAI Center for Certification Customer Service at 888-284-4078 (312-683-2464) or BAICenter@bai.org to update your address or telephone numbers. Responsibility for Recordkeeping Every AMLP is responsible for honestly and accurately reporting the number of CPE credits obtained each year to BAI Center for Certification. The AMLP must also be able to present upon request written verification of completion of educational activities to BAI Center for Certification. At a minimum, records should include: • Name and date of activity • Sponsoring organization • Record of registration • Topic outline • Speaker qualifications • Number of CPE hours reported This information should be maintained for a minimum of two years.