Priority areas for training and increased qualification of financial sector employees are development of banks, technologies, provision of investment services, compliance and prevention of financial crimes and internal audit training.
In order to provide high-quality training in the above-mentioned areas, ALCB is cooperating with local and international partners, which have gathered significant experience and expertise on the current situation in Latvia as well as the latest global trends.
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Issues regarding the operation and development of banks
ALCB and the Consultation and Training Centre of ALCB organize regular seminars on the significant changes in international and local legislation and current events in the activities of banks as well as seminars for participants of ALCB committees.
Technologies and digital transformation
Financial technologies and innovative digital solutions significantly change the operation of the banking sector and provide additional opportunities for the development of new products and services not only in Latvia, but also on an international level. ALCB regularly organizes seminars on current events in cooperation with related industries and technology companies, as well as participates in the events organized by other partners, explaining plans and challenges of banks as the biggest financial technology companies.
Provision of investment services
In order to introduce uniform standards and qualification requirements for investment services specialists, associations of banks of the Baltic states have established the Baltic Financial Advisors Association whose purpose is to establish a voluntary self-management licensing system of the field in the Baltic states.
Specialists in the provision of investment services will have an opportunity to obtain licenses as a “Financial Investment Advisor” and “Financial Investment Information Provider”, which will confirm the appropriate competence level of the specialist and knowledge about the latest news in the relevant area.
RTU Riga Business School has also introduced the new Financial Industry Program) considering the rapid development of the global financial service industry. It has been established in cooperation with international organizations ACAMS (Association of Anti-Money Laundering Specialists) and CISI (The Chartered Institute of Securities and Investments).
Prevention of financial crimes and compliance of operations
The priority of Latvian banks is to combat and prevent financial crimes. One of the important elements for combatting and preventing crimes is the focused and constant training of all employees.
ALCB training provided in cooperation with the following partners
In Latvia, thanks to the active participation of ALCB, specialists may improve their skills and knowledge in Riga Business School, Baltic Computer Academy un Compliance Baltic. The programs were accredited by the international organization ACAMS , which is the global training leader in this area. Specialists are able to qualify for passing the examination for the CAMS certification (Certified Anti-Money Laundering Specialist) as well as maintaining the current CAMS certificate.
What is the CAMS certificate?
CAMS is one of the highest international standards of the field, requiring the acquirer thereof to regularly improve his or her knowledge and stay up to date on all topical events of the industry.
In autumn of 2017 Riga Business School also started its first full-time courses for the acquisition of a CAMS certificate from ACAMS. It is also possible to resume CAMS certification points during the courses to be acquired in the school.
In parallel, Riga Business School also integrates the materials of international certificates in its academic, bachelor’s and master’s degree programs, in order for students to be able to acquire the professional certificates of the industry as well.