Compliance Training for Banks in Monaco Now Mandatory
Introduction
September 2023
The Banking, Financial, and ESG Professional Certification has been a mandatory program in Monaco’s financial institutions since May 2014. This certification aims to enhance the skills of employees working in banks and asset management companies, as well as uphold the reputation of excellence in the sector.
Eligibility and Course Schedule
The training is designed for managers, sales representatives, financial analysts, and market operators. Two sessions are held annually from September to December and January to April. English-language courses are also available once a year if there are at least 15 participants.
Modules
The certification consists of 44 hours of classes spread over 11 half- days and covers two modules:
- Module 1: Technical and ESG aspects
- Module 2: Monaco’s regulatory specifics and ethics
Registration and Payment
Registration for the program is open twice a year. For January 2024, registration will be open from November 13 to January 5.
Requirements
To register, candidates must:
- Fill out the registration form
- Provide a valid ID
- Submit an up-to-date CV
- In exceptional cases, request a technical exception in advance by contacting AMAF
Payment and Invoices
Invoices will be sent two weeks before the start of courses, and payments must be made within one month after the first training date.
Course Details and Location
The courses are held at the International University of Monaco on Fridays from 8:30 AM to 12:30 PM or 1:30 PM to 5:30 PM. English-language courses are available once a year, subject to a minimum of 15 participants.
Online Platform and Materials
Each candidate receives a course schedule and access to an online platform with materials for exam preparation.
Certification Exam and Results
The certification exams take place exclusively at the International University of Monaco. Mock exams are not penalized for absence, but attendance is highly recommended.
- To obtain the professional certification, candidates must score at least 70% on both parts of the exam
- Results will be available online after the completion of exams and will be evaluated by the AMAF commission
- Certified candidates will be published on the AMAF website and in the Journal of Monaco within six months
Contact Information
For any doubts or specific needs, contact certification@monaco.edu.