As regulatory pressure continues to grow in the trade finance arena, the Certificate in Trade Finance Compliance (CTFC) will give you the knowledge and understanding needed to prevent trade-based financial crime. In this article, we answer five questions that people regularly ask about CTFC, including how to register and the value CTFC will bring to your career.
What is the CTFC qualification?
CTFC stands for the Certificate in Trade Finance Compliance. It’s a globally recognised qualification for trade finance and compliance professionals who have responsibility for ensuring high regulatory standards. We developed it with our long-term partners:
That means as a CTFC student, you benefit from the expertise of three leading educational organisations in one qualification.
As CTFC is an online course, you can study it anytime, anywhere, on any device and fit your learning around your work and life commitments.
What is trade compliance?
Trade compliance describes the procedures and regulations all trade transactions are subject to. If an organisation fails to comply with these regulations, they will be subject to fines and suffer reputational damage.
CTFC explains the indicators that you need to be aware of as a professional. It will help you prevent your institution from becoming a victim of financial crime or incurring a regulatory fine.
How do I register for CTFC?
You can register for CTFC using our online registration system all year round. You’ll have a year from registering to complete the course and sit your exam.
Your assessment will be an exam in two sections and will take two and a half hours. You can book your exam at any designated test centre around the world or opt for remote invigilation.
When you’ve successfully completed the exam, you’ll be able to add the professional designation ‘CTFC’ after your name and you’ll be added to the international CTFC registry.
What are the benefits of learning about trade compliance?
The knowledge you’ll gain from CTFC will help you perform better in your role, which in turn will help you advance your career. By studying CTFC, you'll learn:
- about the relationship between trade and financial crime
- how to combat trade-based financial crime
- the key elements of an effective compliance programme, and
- how to exercise due diligence in trade finance.
Echithran Fernando – Senior Manager, Trade Finance Product at Scotia Bank – holds CTFC as well as many other of our trade finance professional qualifications. He says, “These certifications helped me to critically analyse, mitigate risks, advise and provide solutions to our customers and stakeholders.”
How do I continue my professional development after CTFC?
To ensure your name stays on the international CTFC registry, you’ll need to recertify every three years either by:
- carrying out continuous professional development (CPD) throughout the recertification period, or
- retaking and passing the full CTFC exam.
You may also consider studying other trade finance and transaction banking qualifications and working towards the Diploma for Qualified Trade Finance Specialists (QTFS).
More about CTFC