Ok, I'm calling it: continuing education credits to support a previously-achieved professional certification for bank compliance officers are a racket.
You need to be able to demonstrate to your regulator that you are qualified. You can do this with your diploma, degree, experience, and resume. If you have previously been certified by some external party in the industry as regards your specific position, then that says a lot about your qualifications too.
But, what's the real value, to us, as bankers, to continue to keep this certification up to date every year? I think the whole thing is designed primarily to ensure a cash flow to the entities that issue these certifications, some of which get a lot of their revenue from lobbying activities. You pay annual fees for your certification (Why? what are you getting, in exchange for that $100 or $200?), and you are told you must get X hours per year of continuing education credits in order to "maintain" your certification status.
As listened to the webinar, all I could think was that ABA must be struggling to compete with other training providers, so they're implementing this to try to force people into ABA training. They might not have to take that approach if their training was better. So much of it is too basic for those of us that are older than dirt and have been in the industry forever.
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