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Monaco Launches Compliance Officer Certification Program

To strengthen the skill level and reputation of financial institutions in Monaco, the Government has introduced a mandatory professional certification exam for compliance officers. The initiative was led by the Association Monégasque des Activités Financires (AMAF), with the Professional Certification Commission responsible for implementing the program.

Who is Eligible

The certification is designed for:

Managers
Sales professionals
Financial analysts
Trading-room operators

working in banks and asset management companies in Monaco.

Certification Process

The exam consists of two sessions held annually, with 15 to 30 participants per session. To be eligible, candidates must complete a 44-hour training course divided into 11 half-days, covering:

Technical Subjects

Provided by the International University of Monaco (I.U.M.)

Ethical Compliance Topics

Focused on Monegasque regulatory specifics, offered by Capital Banking Solutions

The training is crucial for equipping professionals with the knowledge and skills necessary to meet the high standards required in the financial sector.

Certification Exam

Candidates who fail the certification exam have 12 months to retake it. However, if they fail for a second time, they will be prohibited from exercising any of the above-mentioned functions in banks or asset management companies in Monaco.

Program Governance

The program is governed by:

Law n° 1.338 of September 7th, 2007, amended
Sovereign Ordinance n° 1.284 of September 10th, 2007, amended

Registration and Contact Information

Interested parties can register for the certification program through AMAF, with further information available at the I.U.M.

For registration purposes, please contact:

Mrs Federica CONTE fconte@ium.monaco.edu +377 97 98 65 25