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Certificate in Internal Sanctions & Trade Compliance Program Foundations

Enroll in the Certificate in Internal Sanctions & Trade Compliance Program Foundations and take your Corporate Compliance Career to the next level!

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Course Description

The « Certificate in Internal Sanctions & Trade Compliance Program Foundations » is a comprehensive course designed to provide participants with an in-depth understanding of the foundations and principles of sanctions compliance. This program is tailored to meet the needs of professionals who are engaged in or aspire to be in roles related to compliance, risk assessment, and international trade.

Module 1: Sanctions Compliance Framework Foundations delves into the core concepts of a Sanctions Compliance Framework. Participants will learn the significance of such a framework and its legal necessity. The module explores the common reasons for failures within internal compliance programs, followed by an examination of the five essential elements of a sanctions compliance framework. Real-world applications will be underscored through a case study on the implementation of the OFAC Sanction Compliance Program, culminating in a multiple-choice quiz to reinforce key concepts.

Module 2: Overview of Official Guidance on an Effective Sanctions Compliance Framework offers a comprehensive overview of official guidelines from major global entities. Participants will gain insights into guidance from the DOJ, OFAC, EU, UK, and China. Understanding these guidelines will equip participants with the knowledge to design, enhance, and assess their sanctions compliance programs against international standards. The module wraps up with a multiple-choice quiz, testing the participants on the official guidance details.

Module 3: Violations: Corrective Actions, Reportings, and Liability shifts the focus to the repercussions of non-compliance. This module elaborates on the corrective actions necessary for non-adherence, the liabilities involved, and the nuances of sanctions whistleblowing. With an emphasis on real-world implications and practical applications, the module culminates in a multiple-choice quiz to assess participants’ understanding.

Upon the successful completion of all modules, participants will undergo a final assessment, testing their comprehensive knowledge of the course material. Graduates of this program will be well-equipped with a foundational understanding of internal sanctions and trade compliance, empowering them to navigate the complex world of international trade and compliance with confidence.


What You Will Get From This Course

In-demand Skills

Gain the relevant knowledge to ensure that you are supporting your firm and progressing your career.

Career Credential

Get a certificate from the FCA Financial Crime Academy.

Flexibility

Study on-demand and at your own time and pace, regardless of where you are in the world with this flexible online course.

Global Community

Get access to our exclusive LinkedIn group with 1,500+ like-minded professionals and experts.

Course Material

Download supplementary course material such as the comprehensive course study guide.

Quiz Questions

Test your knowledge with multiple-choice questions and determine which skills you have mastered!


Course Overview

Learning Objectives

  • Understand the foundational concepts of trade, including the dynamics of imports and exports, and the necessary export documentation and processes.
  • Grasp the importance and fundamentals of trade compliance and its role in preventing non-compliance incidents and associated penalties.
  • Recognize the risks associated with trade compliance and the methods criminals use to exploit the financial system for money laundering and terrorist financing.
  • Comprehend the requirements and recommendations of the Financial Actions Task Force (FATF) in relation to trade-based compliance.
  • Gain in-depth knowledge about trade-based money laundering (TBML), its methods, and techniques, and be able to identify potential red flags.
  • Understand the structure and governance related to trade transactions oversight, including the roles and responsibilities of the TBML management committee and the TBML reporting officer (TBMLRO).
  • Develop and implement effective TBML policies and procedures, ensuring an organization’s adherence to global best practices.
  • Analyze real-world case studies in trade compliance, using them as a learning tool to prevent potential pitfalls and enhance an organization’s compliance mechanisms.

Target Audience

  • Trade Professionals: This includes individuals working in trade operations, imports, exports, and related functions. The course provides them with crucial knowledge about compliance and its importance in the trade landscape.
  • Compliance and AML/CTF Professionals: Compliance officers, anti-money laundering professionals, and those focused on counter-terrorist financing (AML/CTF) will benefit immensely from understanding trade compliance’s nuances and intricacies.
  • Risk Management and Internal Controls Professionals: Those responsible for managing risks related to trade compliance and developing internal controls can use the course to enhance their understanding and improve their strategies.
  • Internal Auditors: Professionals engaged in the regular audit of trade-related activities to ensure trade compliance can use this course to bolster their knowledge and audit efficacy.
  • Business Leaders: CEOs, CFOs, and top executives in financial institutions and other entities involved in trade activities need to have a comprehensive grasp of trade compliance risks and best practices to guide their strategic decisions.
  • Legal and Regulatory Professionals: Legal experts and professionals involved in trade regulations will gain from understanding trade compliance’s detailed aspects and global requirements.
  • Professionals Interested in Trade Compliance: Any individual keen on learning about trade compliance, whether transitioning into compliance roles or simply expanding their knowledge, will find the course beneficial.

Requirements

For participating in this Certificate Program, you will need an electronic device with online video-viewing capabilities (e.g., smartphone, tablet, laptop, desktop computer, etc.). You will need no previous knowledge in compliance or anti-financial crime, although this is helpful. A background in business, legal, or finance might also be beneficial but is not required.

Learning Method

This Certification Program is presented entirely online. Modules can be completed in your own time and at your own pace. This interactive, supportive teaching model is designed for busy professionals and results in unprecedented certification rates for Certification Programs.


Course Curriculum

Introduction to the Program

  • Introduction to the Program

Module 1: Sanctions Compliance Framework Foundations

  • Introduction to this Module
  • What is a Sanctions Compliance Framework and is it (legally) required?
  • Typical Root Causes of Sanctions Internal Compliance Program Failures
  • Sanctions Compliance Framework Element #1: Management Commitment
  • Sanctions Compliance Framework Element #2: Sanctions Risk Assessment
  • Sanctions Compliance Framework Element #3: Internal Control
  • Sanctions Compliance Framework Element #4: Testing and Auditing
  • Sanctions Compliance Framework Element #5: Training
  • Case Study: Implementation of OFAC Sanction Compliance Program
  • Module Summary
  • Multiple Choice Quiz

Module 2: Overview of Official Guidance on an Effective Sanctions Compliance Framework

  • Introduction to this Module
  • DOJ Guidance
  • OFAC Guidance
  • EU Guidance
  • UK Guidance
  • Chinese Guidance
  • Module Summary
  • Multiple Choice Quiz

Module 3: Violations: Corrective Actions, Reportings and Liability

  • Introduction to this Module
  • Corrective Action Plan
  • Liability for Failure to Implement Adequate ICP
  • Sanctions Whistleblowing
  • Module Summary
  • Multiple Choice Quiz

Final Assessment

  • Final Assessment

Completing the Program

  • Completing the Program

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Frequently Asked Questions

What are the requirements to take the courses?

All of our certification programs are open to students and professionals in various industries and levels of experience. Our curriculum is designed to teach what you need to know from basic fundamentals to advanced practical case studies. To take the courses and complete the exercises, students will only need access to a PC and/or Mac, a smartphone or table, and a stable internet connection.

Can I download course files and resources for the course?

Absolutely! All the files (including study guide, audiobook, course slides, etc.) in a course are available for download. Just look for a module that shows the files within a course.

How long do I have to complete the courses?

You will have yearly access to the courses as long as you maintain an active subscription. All the courses are self-paced as well so you can take your time in learning without worrying about any deadlines.

Are there any additional fees or costs?

None! The bundle price includes everything and there are no additional fees or charges to earn your digital certification.

What currency are your courses priced in?

All our online courses are priced in USD. As this is a recurring payment, we accept all major credit and debit cards including Visa, MasterCard, and American Express.

How do I earn my certificates?

Students must complete all the video lessons, quizzes, and final assessments in each course. You can retake the assessments as many times as necessary until you reach an 60% passing grade.

How are the exams conducted?

Students are required to complete an online assessment (mostly multiple choice questions) at the end of each course. You can take the exams on your own schedule and will need to earn at least 60% to pass the course and earn your certificate of course completion. Please note that course exams can be repeated as many times as you need.

Can I email the instructor if I have questions?

While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries.

Will these courses help me advance my career?

Based on hundreds of reviews from thousands of students we know how the Financial Crime Academy’s courses have helped so many people advance their anti-financial crime, compliance, and risk management careers. Our courses are designed to teach in-demand skills and relevant background knowledge of subject matter expertise needed in practice.

More Questions?

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