Enhance Your AML Skills

What is Advanced CAMS-Audit?
This is a new and revised version of the existing Advanced CAMS-Audit Program.  This advanced Certification program is designed primarily for those who conduct or wish to conduct anti-money laundering or financial crime compliance audits, whether as part of internal or external Audit teams.  It is also suitable for control functions, first-line assurance teams, second-line compliance monitoring teams and for personnel performing independent testing of anti-financial crime controls.

How is this new version of Advanced CAMS-Audit different than the prior version?
The prior version included a 3-day live training program, followed by a required white paper.  This version has been built on the same model as CAMS and CGSS.  This version can be taken self-study or optionally with a 12-hour instructor-led, virtual classroom program.  The assessment for this new version is a proctored exam, taken at a Pearson VUE testing center or via online proctoring.  The exam will have 90 multiple choice and multiple select questions and take 3 hours.

Why did ACAMS revise the original Advanced CAMS-Audit program?
We decided to revise the model for this program for several reasons.  We heard from many CAMS-certified members interested in becoming CAMS-Audit-certified who could not access the program because of the live 3-day requirement, which involved taking time off work on specific dates.  When people couldn’t make the scheduled dates, they had to wait 6 months to a year before the next offering.  Additionally, the live training component and oversight of the white paper process required a price point that was often out-of-reach for members, and did not include travel costs, which had to be added to the program price.  Finally, the white paper requirements meant we were unable to make the prior version of the program available in languages other than English.  Our new version of Advanced CAMS-Audit will maintain the rigor of the learning outcomes while making the program more accessible based on cost and language.

What does it mean that is an advanced/specialist/associate certification?
ACAMS Advanced Certifications require candidates to have previously attained the CAMS designation and are designed for experienced individuals.  Although active membership and a passing CAMS score are the only eligibility requirements, we recommend Advanced CAMS-Audit for members with a minimum of 5 years of audit or financial crime prevention experience.

What are the core topic areas of Advanced CAMS-Audit?

• Corporate Governance and the Audit Function
• Planning and Scoping
• Fieldwork and Evaluation
• Reporting, Recommendations, and Follow-up

Who will be eligible to take Advanced CAMS-Audit? Who is the certification for?
ACAMS members with a prior passing score on CAMS are eligible to take Advanced CAMS-Audit.  A prior CAMS certification is required.  Although direct audit experience is not required, the program does assume knowledge of audit fundamentals, and the exam is designed to test at the level of someone with 5 years of AML auditing experience.

The program is appropriate for those who:

• Work in the internal audit function of an institution and will or may conduct audits for financial crime prevention programs.
• Work as an external auditor either independently or with an established consulting firm
• Work in financial crime compliance and are interested in gaining additional knowledge about the perspective and thinking process of the AML auditor. People who work in compliance in monitoring and testing teams/assurance.
• Supervise individuals whose work may be audited as part of a financial crime prevention audit.  
• Aid in the preparation of an institution for a regulatory examination that includes examination of the financial crime prevention functions.
• Conduct bank examinations from a regulatory perspective.
• Work in first line assurance teams
• Work in compliance monitoring testing or quality assurance teams within the second line where an advanced level of knowledge is required
• Perform independent testing as part of special projects such as large-scale remediation across obliged entities

What knowledge will THE CERTIFICATION test? 

A.    Corporate Governance and the Audit Function
B.    Planning and Scoping
C.    Fieldwork and Evaluation
D.    Reporting, Recommendations, and Follow-up

What will the study materials and virtual classroom be like?
The revised Advanced CAMS-Audit program is built to be similar to the CAMS model.  There will be a Study Guide as well as an optional Virtual Classroom, which will consist of six weekly 2-hour sessions.
 

What is the eligibility criteria?
Candidates must have an active ACAMS membership and a prior passing CAMS score.


Is Advanced CAMS-Audit applicable towards another certification or recertification? (eligibility/credits)
Yes, the training component of the program is worth 6 CAMS credits and the Virtual Classroom earns an additional 12.  When the certification is attained, we consider Advanced CAMS-Audit to subsume your CAMS certification, so that you only need to recertify your CAMS-Audit credential.

How does Advanced CAMS-Audit differ from ACAMS’ existing point of reference certifications?
As an advanced certification, Advanced CAMS-Audit is designed for professionals with 5 years or more of financial crime compliance experience.  The study materials and exam assume you have retained knowledge from CAMS, and the exam is written at an advanced level, expecting a test-taker to be able to synthesize information and experience to answer complex, case-based questions.

How will the exam be more complex than another point of reference certification?  Won’t it just be a multiple-choice exam?
Although the exam will have multiple choice and multiple select questions (with more than one correct option), it will also include case scenario questions, with several questions related to a single case example.  Additionally, Advanced CAMS-Audit will incorporate tables and other artifacts into the questions to require the test-taker to demonstrate the ability to interpret data and findings.

Is there an application? 
As active membership and a prior passing CAMS score are the only eligibility requirements, the application will consist only of the test-taker agreement.

How do I find all available exam dates and locations?
Once enrolled, you will be able to access a scheduling tool to enable you to take your exam at a Pearson VUE center or via online proctoring.

How long do I have to take the certification exam from the day I pay?
6 months.

How long is the exam?
The exam is 90 questions and 3 hours long.

What is the structure of the exam?  
The exam will have multiple choice and multiple select questions.  It will be different and more challenging than CAMS because of case scenario questions – which involve a case study with several questions related to it. 

Are the test results disclosed to third parties? Are the test results public?
Candidates receive their exam results immediately (pass or fail) at the conclusion of the test. Results will not be given over the phone, by facsimile, or electronic mail. When an organization pays for an individual’s examination, the organization may request ACAMS to release the result to the organization. If a candidate does not want this information to be released to the organization, then the candidate must notify ACAMS in writing.
 

How long is my certification valid?
3 years.

What are the recertification requirements?
The recertification requirements for this new version of CAMS-Audit will be to maintain your ACAMS membership and to earn 45 hours of continuing education credits.  A minimum of 15 of these credits must be earned from ACAMS training events.

Do credits earned the same year I became certified count towards my recertification?
Yes, as long as the credits were earned after passing the Advanced CAMS-Audit Examination.