Are Compliance Certification Programs Necessary For A Career In Compliance?
Every organization faces regulatory compliance and legal issues daily. Hence, individuals with the knowledge of compliance with rules, standards, and guidelines are highly in demand in the current time.
A compliance certificate program provides an individual with warranted skills to understand and describe regulatory compliance obligations in a domestic and international market.
A certified professional will be able to confidently apply his/her knowledge in their jobs.
To stand out as the most favorable candidate for a job, you need to have the most qualifications or experience. A compliance certificate can boost your career and take you to many lucrative positions in an organization.
Here’s why corporates prefer candidates who have completed compliance certificate programs.
Customer Trust And Loyalty
Customer is more likely to trust a business organization when they know that the organization is compliant with various laws and regulations.
With the growing cases of privacy breaches, individuals are highly concerned about the way their information is collected, stored, and used by a business.
For an organization to earn their customers’ trust, they need to include compliant professionals in their managing team.
These professionals can guide them on regulatory issues and keep them away from fines, penalties, and government sanctions.
Hence, a corporate compliance certification goes a long way in landing you in the position of a compliance professional.
Taking any kind of compliance risk can be very taxing to an organization. A business that hasn’t taken steps to ensure compliance with laws and regulations will have difficulty marketing their brand.
Thus displaying your compliance certificate alongside your other credentials puts you in an advantageous position.
You can not only protect your organization from security compliance issues but also protect its valuable trade secrets from being stolen by rivals.
What more can an organization ask for!
Improved Productivity In The Company
It is often noticed that the more compliant a company is, the better is its performance. Laws and regulations not only protect the interest of customers but also of the companies.
A well-trained compliance professional can identify weaknesses in the process and eliminate counterproductive policies.
But without expert guidance, a company is more likely to adopt the wrong approach to eliminate those risks.
No organization would want to waste their time, money, and human resources in this manner. Hence, corporates are always on the look for candidates with compliance certificates.
Creating A Compliant Culture
Compliance certificate programs can help an organization establish a positive internal culture.
When the employees are aware of the different risks that a company faces, they will promptly identify the threats and respond to them appropriately.
A candidate who has completed a compliance certificate program is more likely to be involved and responsible in the compliance process and thus stands a better chance of getting hired.
Avoidance Of Legal Problems
Compliance irregularities not only result in a bad reputation but also carry penalties. While some may result in simple warnings, others can lead to sanctions, fines, jail, blacklisting, and even closure of the business.
Acquiring professionals with compliance certificates reduces the probability of encountering legal problems for the company.
Programs that help secure customer’s privacy, uphold transparent financial practices, and adhere to the industry code of ethics have become vital for compliance professionals.
Better Public Relations
In the age of social media, there is nothing worse for a business than appearing in the news for the wrong reasons. If you are caught flouting laws and regulations, your brand’s reputation will suffer immensely.
A negative image of your brand will result in your sales dipping. Your investors will start to pull out one by one. Even banks may refuse to lend you in the future.
Thus, companies demand professionals who have completed compliance certification programs to maintain a positive brand image and highlight their commitments to different issues.
Picking The Right Certification Course
Completing a compliance certificate program can take you places in your career. But instead of randomly selecting any compliance program, take your time to think about what industry you want to work in.
Different industries have different requirements for conducting a business. So do your research to find out the compliance certification program that suits your industry the most. Here are a few popular ones.
Certified Information System Security Professional (CISSP)
CISSP is one of the most popular information security certifications with more than a hundred thousand graduates worldwide.
It is highly sought after by IT companies as a base requirement for their network security employees.
However, one has to have at least five years of work experience in two of the eight listed domains to be eligible for this certification program.
Certified Regulatory Compliance Manager (CRCM)
If you want to get into the banking industry, this certification program will be the most suitable for you.
Banks and financial institutions have tons of regulations they have to comply with. To keep everything in check, these organizations are in dire need of compliance and risk management professionals.
The functions of a CRCM include performing risk assessment, audit, examination, and managing all aspects of the compliance risk management program.
CRCM is tough to obtain and hence highly valued within the financial sectors.
Certified Information Privacy Professional (CIPP)
Another field of compliance that is rapidly gaining momentum is data privacy.
CIPP is a compliance certificate recognized and accredited by the American National Standards Institute (ANSI) under the International Organization for Standardization (ISO).
Individuals with CIPP are earning up to $130,000 for positions in data privacy. You can yourself gauge the value this program holds.
Certified In Healthcare Compliance (CHC)
Health care industries are subject to numerous regulations. They have to deal with sensitive data and practices on a daily basis. The industry demands a proactive compliance approach.
So you can count on healthcare compliance certification programs to open the doors to a myriad of opportunities.
Compliance certificate programs present vast opportunities for you as an up-coming regulatory professional. So get yourself certified and witness your career in compliance rise to new heights.
With so many corporate compliance and ethical rules, it can be hard to keep track of all the developments.
In such cases, you can join the society of corporate compliance and ethics (SCCE) and get access to the latest news and updates.