Financial Crime World

Jordan’s Financial Institutions Emphasize Importance of Compliance Certifications

A Move Towards Integrity and Stability in Jordan’s Financial Sector

Amman, Jordan - In a bid to ensure the integrity and stability of its financial sector, Jordanian financial institutions are placing increasing emphasis on compliance certifications. The Certified Compliance Manager (CCM) certification has emerged as a key requirement for professionals in the field, with many experts hailing it as the most advanced and comprehensive certificate available.

Competitive Edge in the Job Market

According to industry insiders, the CCM certification provides a competitive edge in the job market, particularly for those seeking senior roles in compliance and anti-money laundering (AML). The training program is based on the Know-How Concept, which offers a practical and user-friendly approach to learning.

Curriculum Highlights

The CCM curriculum covers a range of critical topics, including:

  • Customer Onboarding and Know-Your-Customer (KYC) Procedures
  • Anti-Money Laundering (AML) and Counter-Terrorism Financing
  • Advanced AML Investigations
  • International Sanctions and Embargoes
  • Regulatory Compliance Management
  • FATCA and CRS Reporting

Focus Areas for Jordan’s Financial Sector

Key areas of focus for Jordan’s financial sector include:

  • Customer Onboarding and KYC Procedures: Identifying individual accounts, charities, non-profit organizations, and government agency accounts, as well as understanding the real beneficiary of an account.
  • Anti-Money Laundering (AML) and Counter-Terrorism Financing: Understanding the concept of money laundering, elements of the concept, methods of money laundering and financing of terrorism.

Advanced AML Investigations

The training also covers:

  • Correspondent Banking
  • Internal Accounts
  • Actions to be taken when dealing with a suspicious customer

Confidentiality and Risk-Based Approaches

The training emphasizes the importance of confidentiality of suspicious activity reports and risk-based approaches to AML compliance.

The Certified Compliance Manager (CCM) Certification

The CCM certification is widely recognized as a benchmark for professionalism in the field of compliance and AML, with Jordanian financial institutions increasingly demanding CCM certification from job applicants. With its comprehensive curriculum and practical approach to learning, the CCM certification is an essential step for professionals seeking to advance their careers in the financial sector.