Certificate in Trade Finance Compliance (CTFC)
ABOUT THE CTFC
The Certificate in Trade Finance Compliance (CTFC) is a globally recognised certification programme.
CTFC has been developed in collaboration with Compliance and Trade Finance experts from around the world.
The CTFC provides participants with the technical knowledge, skills & insights into the ever-changing international trade finance compliance landscape.
While studying with us, you’ll become a Member of ATFCP, receiving benefits including careers support and access to professional networking events and resources.
What will you learn?
The training for the CTFC programme covers the following:
- Trade finance products, why to use them and how they work
- A compliance program with specific focus on the key trade finance elements under a compliance program
- Best practices for exercising due diligence in trade transactions, including enhanced due diligence and raising red flags.
- Key indicators you need to be aware of in order to take proactive steps in preventing your financial institution from becoming a victim of financial crime or incurring a regulatory fine.
- How to work diligently to identify and prevent the occurrence of money laundering, terrorism financing, bribery, commercial fraud and the proliferation of weapons of mass destruction.
- Sanctions and anti-boycott provisions – their role of and impact on trade transactions
Fees
REGISTRATION
Registration is open all year round.
You can register by clicking ‘register now’ button below or by calling our Customer Services team on +353 1 2352166.
Full certification
€695
price includes study materials and exam entry
Note: you will need to complete the online training material before you can take the CTFC Examination. You must study for a minimum of 3 months before you are eligible to take the examination.
WHAT STUDY MATERIALS DO I GET?
As part of the registration fee you’ll get access to:
- syllabus
- electronic copy of the study text
- online training supporting the study text
- specimen paper
- a hard copy of the study text can be purchased separately from the Institute of International Banking & Law Practice
The core text for the certification is the excellent publication “Trade Based Financial Crime Compliance” by Professor James Byrne of the Institute of International Law & Banking Practice (IIBLP). It has been written specifically for the CTFC programme and is supported by an interactive training module delivered by Coastline Solutions.
Target audience
- Trade Finance Operations Staff
- Trade Finance Relationship Managers
- Trade Finance Risk Managers
- Bank Audit and Compliance Staff
- Bank Management
- Compliance Staff New to Trade Finance
- Lawyers Working in Compliance
- Trade Finance Consultants
Syllabus
- Trade Finance
- Compliance Regulatory Environment
- Elements of a Compliance Programme
- Exercising Due Diligence
- Know Your Customer
- Red Flags & Indicators
- Types of Financial Crime
- Anti Money Laundering
- Countering Terrorism Financing
- Sanctions & Anti Boycott Provisions
- Weapons of Mass Destruction
- Bribery & Corruption
- Commercial Fraud
Benefits of Certification
CERTIFIED SPECIALIST
PRIDE
What affirms a personal sense of knowing one’s capabilities? Certification.
GROWTH
Initial Certification and ongoing re-certification will support and enhance career advancement opportunities.
EMPLOYMENT
Financial institutions look to hire trained and certified people to fill trade finance compliance positions. It is an advantage to be CTFC certified.
FINANCIAL REWARDS
Certifications are recognized by institutions across the globe through financial incentives.
EMPLOYER
REPUTATION
Employers know their staff are trained and certified.
Employers can state to both their clients and regulators that they have certified specialists.
CONTINUOUS DEVELOPMENT
As a CTFC holder, you will need to engage in continuous professional development to maintain your CTFC designation. This will ensure certified staff keep up to date with industry behaviour, changes in practice and new developments.
The study materials will:
- offer a detailed introduction to trade and trade products for professionals unfamiliar with trade finance
- identify the best practices for exercising due diligence in trade transactions
- provide comprehensive steps in overcoming the common types of financial crimes that are facing financial institutions today
- explain the indicators you need to be aware of in order to take proactive steps in preventing financial institutions from becoming a victim of financial crime or incurring a regulatory fine
- discuss how financial institutions can identify and prevent the occurrence of money laundering, terrorism financing, bribery, commercial fraud and the proliferation of weapons of mass destruct
Assessment
CTFC is assessed through a single 2 hour 30-minute exam, split into two sections.
Section A
- 60 multiple choice questions (a total of 60 marks available for section A).
Section B
- Case Studies/Scenarios with multiple questions per case study, (a total of 40 marks available for Section B)
Passing requirements
You must score 70% to pass the exam. A score of 90% is required for a distinction.
Your first exam is included in the registration fee. If you need to retake an exam a resit fee of €295 will be payable. You can choose when to take your exam online. You will receive a digital certificate once you have passed.
