Banking Compliance Test

The Banking Compliance Skills test thoroughly evaluates a candidate's expertise in vital compliance domains within the banking sector. Amid rising regulatory demands, this assessment is key for organizations to verify that their teams possess the necessary knowledge and capabilities in compliance.

It covers fundamental topics such as the Regulatory Framework and Compliance Standards, examining understanding of critical banking regulations like Basel III, Anti-Money Laundering (AML), Know Your Customer (KYC), and the General Data Protection Regulation (GDPR). Mastery of these rules ensures policies align with legal requirements and global standards.

Risk Management and Mitigation is another focus area, where candidates’ skills in identifying, assessing, and addressing compliance risks—operational, credit, and market—are tested. Proficiency in tools such as risk registers, controls testing, and Governance, Risk, and Compliance (GRC) systems for automated risk tracking is evaluated.

The evaluation also includes Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD), crucial for combating financial crimes. Test takers demonstrate the ability to perform comprehensive due diligence, verify client identities, and monitor transactions for suspicious behavior, with knowledge of sanctions lists, Politically Exposed Persons (PEPs), and data validation techniques.

Transaction Monitoring and Reporting is assessed through the effective use of monitoring systems, recognizing warning signs, and accurately submitting Suspicious Activity Reports (SARs).

Candidates’ aptitude in devising Internal Controls and Policy Development is measured, assessing skills in establishing control procedures, drafting Standard Operating Procedures (SOPs), and promoting compliance adherence.

Lastly, the test examines Data Privacy and Cybersecurity Compliance awareness, including familiarity with privacy laws such as GDPR and CCPA and the implementation of measures to secure banking operations.

Widely applicable especially in financial institutions, investment companies, and regulatory agencies, this test helps organizations identify qualified candidates capable of maintaining top-tier compliance standards and protecting their reputations and operational soundness.