4 Compliance Certifications to Know in 2020

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In this age of social media, your reputation is everything. You can easily ruin your reputation and lose your clientele by having a compliance failure. Falling short of compliance regulations could see you face a public lawsuit and lose money in fines. To avoid such problems, you need to adhere to a formidable compliance program that secures you and your business. Here are some of the four most recognized compliance certifications in different industries.

1. Certified Compliance Professional

The Certified Compliance Professional is a certificate for a wide range of professional fields. With this certificate, a professional has the opportunity to grow and gain an edge over their competition. The designation states to the public that you have the necessary skill set to practice your profession.

The Certified Compliance Professional certification is offered by the Health Ethics Trust. Other certifications by this institution include the Certified Compliance Executive. The HET is a branch of the Council of Ethical Organization, a non-profit organization dedicated to promoting legal and ethical conduct in government, professions, and businesses. The goal of the CCP compliance program is to ensure professionalism and a high degree of competence in the health care community. The certification procedure is overseen by a voluntary committee consisting of compliance professionals from all over the country. Committee members monitor changes in the process of certification and also review applications for the HET certification.

The main benefits of the Certified Compliance Professional certification are that you get to gain client confidence; you boost your reliability and the quality of your services and increase customer retention.

2. ITIL Expert Certification

One of the most renowned IT management certifications is ITIL, which stands for Information Technology Infrastructure Library. Formerly an initiation of the British government, this certification has gained worldwide recognition. ITIL defines a model that lays down specific activities and processes that should be used when designing, developing, and delivering IT services. Some of the standards laid out are for services such as centralized corporate email, server, and network administration, just to mention a few. The current standard of ITIL certification is ITIL V3.

To get this certification, you are required to earn a series of ITIL certifications. The ITIL Expert certification targets those interested in showcasing their knowledge of the ITIL Scheme. The ITIL Expert is given to candidates who have acquired the whole range of ITIL certifications and skills and superior knowledge in ITIL best practices. This certification is ideal for any professional wishing to progress in the IT service management field.

By adopting ITIL’s framework, businesses make sure their services are delivered based on consistent and well-defined processes that utilize best processes and practices, resulting in predictable services for users. Some of its benefits include improved customer satisfaction, increased productivity, and reduced costs of service deployment and development.

3. SOC 2

SOC 2 is a procedure for auditing whereby service providers are required to securely manage your organization’s data and the privacy of your clients. For businesses that are conscious about their security, SOC 2 compliance is required when looking for a SaaS provider. This certification was established by the American Institute of CPAs. SOC 2 basically defines the procedures for managing your client’s data on the basis of six basic principles– availability, security, integrity, processing, privacy, and confidentiality.

SOC 2 reports are unique for each organization. Each business design controls with one or more of the six trust principles. These reports provide you and your business partners, regulators, and suppliers, with crucial information on how a service provider deals with data. The two SOC reports are Type I and Type II.

SOC 2 certification is given by outside auditors. To get this certification, the auditor will assess the extent to which you comply with any of the six trust principles based on the processes and systems you have in place. The main benefits are that clients will trust you with the security of their data; you have improved customer satisfaction and customer experience.

4. Certified Regulatory Compliance Manager

The responsibilities of a compliance manager include validation and compliance with risk program management and control. Compliance risk functions are very important in any organization, and they include tasks such as performing audits, compliance risk assessments, developing and managing all risk management programs in accordance with U.S. federal laws. To earn the Certified Regulatory Compliance Manager certification, a candidate needs to have at least six years of experience in the compliance management field. One of the benefits of possessing this asset is that it not only imbues confidence in your staff, but you also earn the trust of your clients.

To get the Certified Regulatory Compliance Manager certificate, you are also required to have completed a series of ABA courses and events. Each candidate is required to sign an ABA professional certifications’ code of ethics statement.

Summing It Up

Many people consider compliance certificates as overrated credentials, but they are actually essential for any professional or business that wants to remain relevant in the industry. Compliance certificates such as Certified Compliance Professional, ITIL Expert, SOC 2, and Certified Regulatory Compliance Manager are essential in a wide range of professional and business fields. These certifications will not only make your business productive, but they will also increase customer retention, satisfaction, and experience.

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