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Exam Code: IAPP-CIPM Practice exam 2022 by team
IAPP-CIPM Certified Information Privacy Manager

EXAM NAME : Certified Information Privacy Manager
TIME : 2 hours 30 minutes

Make data privacy regulations work for your organization by understanding how to implement them in day-to-day operations. Learn to create a company vision, structure a data protection team, develop and implement system frameworks, communicate to stakeholders, measure performance and more.

- How to create a company vision
- How to structure the privacy team
- How to develop and implement a privacy program framework
- How to communicate to stakeholders
- How to measure performance
- The privacy program operational life cycle

The International Association of Privacy Professionals (IAPP) is the largest and most comprehensive global information privacy community and resource. IAPP helps practitioners develop and advance their careers, and organizations manage and protect their data.
The IAPP is a not-for-profit association founded in 2000 with a mission to define, support and improve the privacy profession globally. We are committed to providing a forum for privacy professionals to share best practices, track trends, advance privacy management issues, standardize the designations for privacy professionals and provide education and guidance on opportunities in the field of information privacy.
The IAPP is responsible for developing and launching the gold standard in privacy and data protection certifications: the Certified Information Privacy Professional (CIPP), the Certified Information Privacy Manager (CIPM) and the Certified Information Privacy Technologist (CIPT). The CIPP, CIPM and CIPT are the leading privacy certifications for tens of thousands of professionals around the world who serve the privacy, data protection, information auditing, information security, data ethics, legal compliance and risk management needs of their organizations.
In addition, the IAPP offers a full suite of educational and professional development services and holds annual conferences that are recognized internationally as the leading forums for the discussion and debate of issues related to privacy policy and practice.

Certified Information Privacy Manager
IAPP Information certification
Killexams : IAPP Information certification - BingNews Search results Killexams : IAPP Information certification - BingNews Killexams : International Association of Privacy Professionals: Career and Certification Guide

Founded in 2000, the International Association of Privacy Professionals (IAPP) bills itself as “the largest and most comprehensive global information privacy community and resource.” It is more than just a certification body. It is a full-fledged not-for-profit membership association with a focus on information privacy concerns and topics. Its membership includes both individuals and organizations, in the tens of thousands for the former and the hundreds for the latter (including many Fortune 500 outfits).

Its mandate is to help privacy practitioners develop and advance in their careers, and help organizations manage and protect their data. To that end, the IAPP seeks to create a forum where privacy pros can track news and trends, share best practices and processes, and better articulate privacy management issues and concerns.

By 2012, the organization included 10,000 members. By the end of 2015, membership had more than doubled to 23,000 members. According to a Forbes story published that same year, approximately half of the IAPP’s membership is women (which makes it pretty special, based on our understanding of the gender composition for most IT associations and certification programs). Current membership must be between 30,000 and 40,000 as growth rates from 2012 to 2015 have continued, if not accelerated in the face of the EU’s General Data Protection Regulation (GDPR), which went into full effect on May 25, 2018. The IAPP also claims to have certified “thousands of professionals around the world.”

IAPP certification program overview

The IAPP has developed a globally recognized certification program around information privacy. Its current certification offerings include the following credentials:

  • Certified Information Privacy Professional (CIPP): seeks to identify professionals who work primarily with privacy laws, regulations and frameworks
  • Certified Information Privacy Manager (CIPM): seeks to identify professionals who manage day-to-day privacy operations for businesses and organizations
  • Certified Information Privacy Technologist (CIPT): seeks to identify IT professionals who work regularly (if not primarily) with privacy policies, tools and technologies on the job

All these certifications comply with the ANSI/ISO/IEC 17024 standard, which means they have been developed to meet stringent requirements for analyzing the subject matter and the fields of work to which they apply, along with formal psychometric analysis of test items to make sure that exams truly differentiate those who possess the required skills and knowledge to do the related jobs from those who do not.

All the IAPP exams follow the same cost structure, though charges vary by location. In the U.S., each first-time exam costs $550, with a $375 charge for any subsequent retake of the same exam. Those who already hold any IAPP certification pay just $375 for each additional certification exam they take. IAPP certification holders can either pay an annual maintenance fee of $125 to keep their certifications current (and meet continuing education requirements of 20 CPE credits every two years) or they must join the IAPP.

If a person joins, they’ll pay an annual membership fee. Currently, that’s $250 for professional members, $50 for student members, and $100 for all other membership categories (government, higher education, retired and not-for-profit). Those who elect to pay the certification maintenance fee need pay only once a year, no matter how many IAPP certifications they earn.

IAPP exams are available at Kryterion testing centers, which may be identified with its test center locator. Exams consist of 90 question items. Candidates may take up to 150 minutes (2.5 hours) to complete any IAPP exam. Payment is handled through the IAPP website, but Kryterion handles date and time windows for exams at its test centers.

Certified Information Privacy Technologist (CIPT)

This credential is the most likely place for a person working in IT to start their IAPP efforts. The CIPT validates skills and knowledge about the components and technical controls involved in establishing, ensuring and maintaining data privacy. To be more specific, the body of knowledge (BoK) for the CIPT stresses important privacy concepts and practices that impact IT, and makes sure that practitioners understand consumer privacy expectations and responsibilities.

It also addresses how to bake privacy into early stages of IT products or services to control costs and ensure data accuracy and integrity without impacting time to market. CIPTs understand how to establish privacy policies for data collection and transfer, and how to manage privacy on the internet of things. They also know how to factor privacy into data classification, and how it impacts emerging technologies such as biometrics, surveillance and cloud computing. Finally, CIPTs understand how to communicate on privacy issues with other parts of their organizations, including management, development staff, marketing and legal.

Certified Information Privacy Professional (CIPP)

IAPP describes this certification as just right for “the go-to person for privacy laws, regulations and frameworks” in an organization. This audience may include more senior privacy or security professionals with IT backgrounds, but it may also involve people from management, legal or governance organizations whose responsibilities include data privacy and protection concerns. This goes double for those involved with legal and compliance requirements, information management, data governance, and even human resources (as privacy is a personal matter at its core, involving personal information).

Because managing privacy and protecting private information is often highly regulated and subject to legal systems and frameworks, the IAPP offers versions of the CIPP certification where such content and coverage has been “localized” for prevailing rules, regulations, laws and best practices.

There are five such versions available: Asia (CIPP/A), Canada (CIPP/C), Europe (CIPP/E), U.S. Government (CIPP/G) and U.S. Private Sector (CIPP/US). As of this writing, the CIPP/E perforce offers the most direct and focused coverage of GDPR topics. That said, given that GDPR applies to companies and online presences globally, such material will no doubt soon make its way into other CIPP versions in the next 6-12 months. The U.S.-focused exams are already scheduled for a refresh in August 2018, as per the IAPP website’s certification pages.

For example, the CIPP/US page includes the following materials:

Each of the other regional versions of the CIPP has a similarly large, detailed and helpful collection of resources available to interested readers and would-be certified professionals.

Certified Information Privacy Manager (CIPM)

The CIPM is a more senior credential in the IAPP collection. It seeks to identify persons who can manage an information privacy program. Thus, the focus is on privacy law and regulations and how those things must guide the formulation of workable and defensible privacy policies, practices and procedures for organizational use. The CIPM BoK covers the following topics:

  • Privacy program governance: organizational vision, program definition and creating a privacy team; developing a privacy program framework; implementing a privacy policy framework; and identifying and using metrics to report on privacy for governance, auditing, and regulatory purposes
  • Privacy operational lifecycle: assess organizational and third-party partner and processor privacy posture, including physical and business assessments; establish privacy protections over the data lifecycle, following best cybersecurity practices and Privacy by Design; sustain privacy protections by measuring, aligning, auditing and monitoring privacy data; respond to requests for information about personal data; and respond to privacy incidents as they occur

In general, CIPMs play a lead role in defining and maintaining data privacy policies for their organizations. They will usually be responsible for operating the privacy apparatus necessary to demonstrate compliance with all applicable privacy rules, regulations and laws for the organization as well.

Other IAPP certifications

The IAPP also offers two other elements in its certification programs. One is the Privacy Law Specialist, which aims at attorneys or other licensed legal professionals who wish to focus on privacy Topics in a legal context. The other, called the Fellow of Information Privacy (FIP), aims at those at the top of the privacy profession and is available only to those who’ve completed two or more IAPP credentials, including either a CIPM or a CIPT, and one or more of the CIPP credentials. It requires three professional peer referrals and completion of a detailed application form. We won’t discuss these credentials much more in this article, except to note here that the Privacy Law Specialist garnered a surprising 200 hits in our job board search (see below for other details gleaned thereby).

Finally, the IAPP website recommends the combination of CIPP/E and CIPM as the possible credentialing for those wishing to focus on GDPR, shown in this screenshot from its Certify pop-up menu:

The IAPP thinks that these two certs make an ideal combination for IAPP.orgCredit:

IAPP employment: Job board stats and example jobs

We visit four job posting sites to check on demand for specific credentials: Simply Hired, Indeed, LinkedIn and LinkUp. Here’s what we learned.


Search string 

Simply Hired 


























The breakdown for CIPP fell out like this: CIPP/A 27, CIPP/C 287, CIPP/E 351, CIPP/G 154 and CIPP/US 401. As you’d expect, the U.S. categories combine for a majority, with Europe a surprising second ahead of third-place Canada.

Salary information appears in the next table. We collected low, median and high values for each credential, finding surprisingly little difference between the CIPM and the CIPP. Given that a CIPM is likely to hold a management position, this shows that the CIPP holds considerable value in employers’ estimations. It’s also interesting that the median values show the CIPT and the CIPP are close to one another too. This bodes well for IT professionals interested in pursuing the CIPT.

















Privacy Law Attorney




Typical positions for privacy professionals are very much one-offs. We found a risk management and compliance manager position at a South Carolina government agency charged with defining and implementing security and privacy policies for the department of corrections. That position paid $120,000 per year and involved security and audit compliance, business continuity and disaster recovery planning, and risk and incident management. By itself, the requested CIPM would not be enough to qualify for that job.

The next position was for a healthcare services director position in Albuquerque, New Mexico, which involved auditing, risk management, and contract and vendor negotiation. Its pay range was $140,000 to $190,000 per year, and it required serious management chops, along with IT governance and risk and compliance experience, with calls for knowledge of tools like Archer and Clearwell. The third position was for a senior data privacy associate at a Washington law firm, which sought a person with a CIPP/E, CIPP/US and CIPT, with pay in the $120K-$150K range.

Thus, it appears there are plenty of opportunities – some with high rates of pay – for those willing to climb the IAPP certification ladder. Both the job boards and the individual postings speak directly to strong and urgent need in the field for qualified privacy professionals at all levels.

Training resources

IAPP courses are available through many channels, including classroom training through the IAPP and its partner network. Online training classes are also available, for lesser charges. The IAPP provides ample references and resources, with authoritative and supplemental texts, websites, legal references and statutes, and more for each of its credentials. There’s also plenty of self-study material for those who prefer that route.

The IAPP also offers practice exams (which it calls demo questions) to help candidates prepare for exams. Surprisingly, there is even something of an aftermarket for IAPP books and materials, as a quick trip to Amazon will attest.

Tue, 28 Jun 2022 12:00:00 -0500 en text/html
Killexams : Best InfoSec and Cybersecurity Certifications of 2022
  • The U.S. job market has almost 600,000 openings requesting cybersecurity-related skills. 
  • Employers are struggling to fill these openings due to a general cyber-skill shortage, with many openings remaining vacant each year. 
  • When evaluating prospective information-security candidates, employers should look for certifications as an important measure of excellence and commitment to quality.
  • This article is for business owners looking to hire cybersecurity experts, or for individuals interested in pursuing a cybersecurity career. 

Cybersecurity is one of the most crucial areas for ensuring a business’s success and longevity. With cyberattacks growing in sophistication, it’s essential for business owners to protect their companies by hiring qualified cybersecurity experts to manage this aspect of their business. The best candidates will have a certification in information security and cybersecurity. This guide breaks down the top certifications and other guidance you’ll need to make the right hire for your company. It’s also a great primer for individuals who are embarking on a cybersecurity career.

Best information security and cybersecurity certifications

When evaluating prospective InfoSec candidates, employers frequently look to certification as an important measure of excellence and commitment to quality. We examined five InfoSec certifications we consider to be leaders in the field of information security today.

This year’s list includes entry-level credentials, such as Security+, as well as more advanced certifications, like Certified Ethical Hacker (CEH), Certified Information Systems Security Professional (CISSP), Certified Information Security Manager (CISM) and Certified Information Systems Auditor (CISA). According to CyberSeek, more employers are seeking CISA, CISM and CISSP certification holders than there are credential holders, which makes these credentials a welcome addition to any certification portfolio.

Absent from our list of the top five is SANS GIAC Security Essentials (GSEC). Although this certification is still a very worthy credential, the job board numbers for CISA were so solid that it merited a spot in the top five. Farther down in this guide, we offer some additional certification options because the field of information security is both wide and varied.

1. CEH: Certified Ethical Hacker

The CEH (ANSI) certification is an intermediate-level credential offered by the International Council of E-Commerce Consultants (EC-Council). It’s a must-have for IT professionals who are pursuing careers in white hat hacking and certifies their competence in the five phases of ethical hacking: reconnaissance, enumeration, gaining of access, access maintenance and track covering. 

CEH credential holders possess skills and knowledge of hacking practices in areas such as footprinting and reconnaissance, network scanning, enumeration, system hacking, Trojans, worms and viruses, sniffers, denial-of-service attacks, social engineering, session hijacking, web server hacking, wireless networks and web applications, SQL injection, cryptography, penetration testing, IDS evasion, firewalls and honeypots. CEH V11 provides a remapping of the course to the NIST/NICE framework’s Protect and Defend (PR) job role category, as well as an additional focus on emerging threats in cloud, OT and IT security, such as fileless malware.

To obtain a CEH (ANSI) certification, candidates must pass one exam. A comprehensive five-day CEH training course is recommended, with the exam presented at the course’s conclusion. Candidates may self-study for the exam but must submit documentation of at least two years of work experience in information security with employer verification. Self-study candidates must also pay an additional $100 application fee. Education may be substituted for experience, but this is evaluated on a case-by-case basis. Candidates who complete any EC-Council-approved training (including with the iClass platform, academic institutions or an accredited training center) do not need to submit an application prior to attempting the exam.

Because technology in the field of hacking changes almost daily, CEH credential holders are required to obtain 120 continuing-education credits for each three-year cycle.

Once a candidate obtains the CEH (ANSI) designation, a logical progression on the EC-Council certification ladder is the CEH (Practical) credential. The CEH (Practical) designation targets the application of CEH skills to real-world security audit challenges and related scenarios. To obtain the credential, candidates must pass a rigorous six-hour practical examination. Conducted on live virtual machines, candidates are presented 20 scenarios with questions designed to validate a candidate’s ability to perform tasks such as vulnerability analysis, identification of threat vectors, web app and system hacking, OS detection, network scanning, packet sniffing, steganography and virus identification. Candidates who pass both the CEH (ANSI) and the CEH (Practical) exams earn the CEH (Master) designation.

CEH facts and figures

Certification name Certified Ethical Hacker (CEH) (ANSI)
Prerequisites and required courses Training is highly recommended. Without formal training, candidates must have at least two years of information security-related experience and an educational background in information security, pay a nonrefundable eligibility application fee of $100 and submit an exam eligibility form before purchasing an exam voucher.
Number of exams One: 312-50 (ECC Exam)/312-50 (VUE) (125 multiple-choice questions, four hours)
Cost of exam $950 (ECC exam voucher) Note: An ECC exam voucher allows candidates to test via computer at a location of their choice. Pearson VUE exam vouchers allow candidates to test in a Pearson VUE facility and cost $1,199.
Self-study materials EC-Council instructor-led courses, computer-based training, online courses and more are available at A CEH skills assessment is also available for credential seekers. Additionally, Udemy offers CEH practice exams. CEH-approved educational materials are available for $850 from EC-Council.

Certified Ethical Hacker (CEH) training

While EC-Council offers both instructor-led and online training for its CEH certification, IT professionals have plenty of other options for self-study materials, including video training, practice exams and books.

Pluralsight currently offers an ethical-hacking learning path geared toward the 312-50 exam. With a monthly subscription, you get access to all of these courses, plus everything else in Pluralsight’s training library. Through Pluralsight’s learning path, students can prepare for all of the domains covered in the CEH exam.  

CyberVista offers a practice exam for the CEH 312-50 certification that includes several sets of exam-like questions, custom quizzes, flash cards and more. An exam prep subscription for 180 days costs $149 and gives candidates access to online study materials, as well as the ability to download the materials for offline study. Backed by its “pass guarantee,” CyberVista is so confident its practice exam will prepare you for the CEH exam that the company will refund its practice questions costs if you don’t pass.

Did you know?FYI: Besides certifications in information security and cybersecurity, the best IT certifications cover areas such as disaster recovery, virtualization and telecommunications.

2. CISM: Certified Information Security Manager

The CISM certification is a top credential for IT professionals who are responsible for managing, developing and overseeing information security systems in enterprise-level applications or for developing organizational security best practices. The CISM credential was introduced to security professionals in 2003 by the Information Systems Audit and Control Association (ISACA).

ISACA’s organizational goals are specifically geared toward IT professionals who are interested in the highest-quality standards with respect to the auditing, control and security of information systems. The CISM credential targets the needs of IT security professionals with enterprise-level security management responsibilities. Credential holders possess advanced and proven skills in security risk management, program development and management, governance, and incident management and response.

Holders of the CISM credential, which is designed for experienced security professionals, must agree to ISACA’s code of ethics, pass a comprehensive examination, possess at least five years of experience in information security management, comply with the organization’s continuing education policy and submit a written application. Some combinations of education and experience may be substituted for the full experience requirement.

The CISM credential is valid for three years, and credential holders must pay an annual maintenance fee of $45 (ISACA members) or $85 (nonmembers). Credential holders are also required to obtain a minimum of 120 continuing professional education (CPE) credits over the three-year term to maintain the credential. At least 20 CPE credits must be earned every year.

CISM facts and figures

Certification name

Certified Information Security Manager (CISM)

Prerequisites and required courses

To obtain the CISM credential, candidates must do the following:

  1. Pass the CISM exam.
  2. Agree to the ISACA code of professional ethics.
  3. Adhere to ISACA’s CPE policy
  4. Possess a minimum of five years of information security work experience in described job practice analysis areas. Experience must be verifiable and obtained in the 10-year period prior to the application date or within five years of exam passage. There are some exceptions to this requirement depending on the current credentials held.
  5. Apply for CISM certification. (The processing fee is $50.) The credential must be obtained within five years of exam passage.

Number of exams

One: 150 questions, four hours

Cost of exam

Exam fees: $575 (members), $760 (nonmembers)

Exam fees are nontransferable and nonrefundable.


Self-study materials

Training and study materials in various languages, information on job practice areas, primary references, publications, articles, the ISACA Journal, review courses, an exam prep community, terminology lists, a glossary and more are available at Additionally, Udemy offers comprehensive training for the certification exam.

Other ISACA certification program elements

In addition to CISM, ISACA offers numerous certifications for those interested in information security and best practices. Other credentials worth considering include the following:

  • Certified Information Systems Auditor (CISA)
  • Certified in the Governance of Enterprise IT (CGEIT)
  • Certified in Risk and Information Systems Control (CRISC)

The CISA designation was created for professionals working with information systems auditing, control or security and is popular enough with employers to earn it a place on the leaderboard. The CGEIT credential targets IT professionals working in enterprise IT management, governance, strategic alignment, value delivery, and risk and resource performance management. IT professionals who are seeking careers in all aspects of risk management will find that the CRISC credential nicely meets their needs.

Certified Information Security Manager (CISM) training

Pluralsight offers a CISM learning path containing five courses and 17 hours of instruction. The courses cover the domains addressed in the exam, but the learning path is aimed at the CISM job practice areas. 

CyberVista offers a CISM online training course in both live and on-demand formats. The course includes more than 16 hours of training videos, supplementary lessons, custom quizzes, practice exam questions and access to experts through the instructor. As with other CyberVista courses, the CISM training course comes with a “pass guarantee.” 

Did you know?Did you know?: According to CyberSeek, there are enough workers to fill only 68% of the cybersecurity job openings in the U.S. A cybersecurity certification is an important way to demonstrate the knowledge and ability to succeed in these job roles.

3. CompTIA Security+

CompTIA’s Security+ is a well-respected, vendor-neutral security certification. Security+ credential holders are recognized as possessing superior technical skills, broad knowledge and expertise in multiple security-related disciplines.

Although Security+ is an entry-level certification, the ideal candidates possess at least two years of experience working in network security and should consider first obtaining the Network+ certification. IT pros who obtain this certification have expertise in areas such as threat management, cryptography, identity management, security systems, security risk identification and mitigation, network access control, and security infrastructure. The CompTIA Security+ credential is approved by the U.S. Department of Defense to meet Directive 8140/8570.01-M requirements. In addition, the Security+ credential complies with the standards for ISO 17024.

The Security+ credential requires a single exam, currently priced at $381. (Discounts may apply to employees of CompTIA member companies and full-time students.) Training is available but not required.

IT professionals who earned the Security+ certification prior to Jan. 1, 2011, remain certified for life. Those who certify after that date must renew the certification every three years to stay current. To renew, candidates must obtain 50 continuing-education units (CEUs) or complete the CertMaster CE online course prior to the expiration of the three-year period. CEUs can be obtained by engaging in activities such as teaching, blogging, publishing articles or whitepapers, and participating in professional conferences and similar activities.

CompTIA Security+ facts and figures

Certification name

CompTIA Security+

Prerequisites and required courses

None. CompTIA recommends at least two years of experience in IT administration (with a security focus) and the Network+ credential before the Security+ exam. Udemy offers a complete and comprehensive course for the certification.

Number of exams

One: SY0-601 (maximum of 90 questions, 90 minutes to complete; 750 on a scale of 100-900 required to pass)

Cost of exam

$381 (discounts may apply; search for “SY0-601 voucher”)


Self-study materials

Exam objectives, demo questions, the CertMaster online training tool, training kits, computer-based training and a comprehensive study guide are available at

CompTIA Security+ training

You’ll find several companies offering online training, instructor-led and self-study courses, practice exams and books to help you prepare for and pass the Security+ exam.

Pluralsight offers a Security+ learning path as a part of its monthly subscription plan for the latest SY0-601 exam. Split into six sections, the training series is more than 24 hours long and covers attacks, threats and vulnerabilities; architecture and design; implementation of secure solutions; operations and incident response; and governance, risk and compliance.

CyberVista offers a Security+ practice exam so you can test your security knowledge before attempting the SY0-601 exam. The test comes with a 180-day access period and includes multiple sets of exam questions, key concept flash cards, access to InstructorLink experts, a performance tracker and more. As with CyberVista’s other offerings, this practice exam comes with a “pass guarantee.”

4. CISSP: Certified Information Systems Security Professional

CISSP is an advanced-level certification for IT pros who are serious about careers in information security. Offered by the International Information Systems Security Certification Consortium, known as (ISC)2 (pronounced “ISC squared”), this vendor-neutral credential is recognized worldwide for its standards of excellence.

CISSP credential holders are decision-makers who possess the expert knowledge and technical skills necessary to develop, guide and manage security standards, policies and procedures within their organizations. The CISSP certification continues to be highly sought after by IT professionals and is well recognized by IT organizations. It is a regular fixture on most-wanted and must-have security certification surveys.

CISSP is designed for experienced security professionals. A minimum of five years of experience in at least two of (ISC)2’s eight common body of knowledge (CBK) domains, or four years of experience in at least two of (ISC)2’s CBK domains and a college degree or an approved credential, is required for this certification. The CBK domains are security and risk management, asset security, security architecture and engineering, communications and network security, identity and access management, security assessment and testing, security operations, and software development security.

(ISC)2 also offers three CISSP concentrations targeting specific areas of interest in IT security:

  • Architecture (CISSP-ISSAP)
  • Engineering (CISSP-ISSEP)
  • Management (CISSP-ISSMP)

Each CISSP concentration exam is $599, and credential seekers must currently possess a valid CISSP.

An annual fee of $125 is required to maintain the CISSP credential. Recertification is required every three years. To recertify, candidates must earn 40 CPE credits each year, for a total of 120 CPE credits within the three-year cycle.

CISSP facts and figures 

Certification name

Certified Information Systems Security Professional (CISSP) 

Optional CISSP concentrations:  

  • CISSP Architecture (CISSP-ISSAP)
  • CISSP Engineering (CISSP-ISSEP)
  • CISSP Management (CISSP-ISSMP)

Prerequisites and required courses

At least five years of paid, full-time experience in at least two of the eight (ISC)2 domains or four years of paid, full-time experience in at least two of the eight (ISC)2 domains and a college degree or an approved credential are required. Candidates must also do the following:

  • Agree to the (ISC)2 code of ethics.
  • Submit the CISSP application.
  • Complete the endorsement process.

Number of exams

One for CISSP (English CAT exam: 100-150 questions, three hours to complete; non-English exam: 250 questions, six hours) 

One for each concentration area

Cost of exam

CISSP is $749; each CISSP concentration is $599.


Self-study materials

Training materials include instructor-led, live online, on-demand and private training. There is an exam outline available for review, as well as study guides, a study app, interactive flash cards and practice tests.

Certified Information Systems Security Professional (CISSP) training

Given the popularity of the CISSP certification, there is no shortage of available training options. These include classroom-based training offered by (ISC)2, as well as online video courses, practice exams and books from third-party companies.

Pluralsight’s CISSP learning path includes 12 courses and 25 hours of e-learning covering the security concepts required for the certification exam. Available for a low monthly fee, the CISSP courses are part of a subscription plan that gives IT professionals access to Pluralsight’s complete library of video training courses.

When you’re ready to test your security knowledge, you can take a simulated exam that mimics the format and content of the real CISSP exam. Udemy offers CISSP practice exams to help you prepare for this challenging exam.

5. CISA: Certified Information Systems Auditor

ISACA’s globally recognized CISA certification is the gold standard for IT workers seeking to practice in information security, audit control and assurance. Ideal candidates can identify and assess organizational threats and vulnerabilities, assess compliance, and provide guidance and organizational security controls. CISA-certified professionals demonstrate knowledge and skill across the CISA job practice areas of auditing, governance and management, acquisition, development and implementation, maintenance and service management, and asset protection.

To earn the CISA certification, candidates must pass one exam, submit an application, agree to the code of professional ethics, agree to the CPE requirements and agree to the organization’s information systems auditing standards. In addition, candidates must possess at least five years of experience working with information systems. Some substitutions for education and experience with auditing are permitted.

To maintain the CISA certification, candidates must earn 120 CPE credits over a three-year period, with a minimum of 20 CPE credits earned annually. Candidates must also pay an annual maintenance fee ($45 for members; $85 for nonmembers).

CISA facts and figures

Certification name

Certified Information Systems Auditor (CISA)

Prerequisites and required courses

To obtain the CISA credential, candidates must do the following:

  1. Pass the CISA exam.
  2. Agree to the ISACA code of professional ethics.
  3. Adhere to ISACA’s CPE policy.
  4. Agree to the information auditing standards.
  5. Possess a minimum of five years of information systems auditing, control or security work in described job practice analysis areas. Experience must be verifiable and obtained in the 10-year period prior to the application date or within five years after the exam is passed. There are some exceptions to this requirement depending on the current credentials held.
  6. Apply for CISA certification. (The processing fee is $50.) The credential must be obtained within five years of exam passage.

Number of exams

One: 150 questions, four hours

Cost of exam

$575 (members); $760 (nonmembers)


Self-study materials

ISACA offers a variety of training options, including virtual instructor-led courses, online and on-demand training, review manuals and question databases. Numerous books and self-study materials are also available on Amazon.

Certified Information Systems Auditor (CISA) training

Training opportunities for the CISA certification are plentiful. Udemy offers more than 160 CISA-related courses, lectures, practice exams, question sets and more. On Pluralsight, you’ll find 12 courses with 27 hours of information systems auditor training covering all CISA job practice domains for the CISA job practice areas.

Beyond the top 5: More cybersecurity certifications

In addition to these must-have credentials, many other certifications are available to fit the career needs of any IT professional interested in information security. Business owners should consider employing workers with these credentials as well.

  • The SANS GIAC Security Essentials (GSEC) certification remains an excellent entry-level credential for IT professionals seeking to demonstrate that they not only understand information security terminology and concepts but also possess the skills and technical expertise necessary to occupy “hands-on” security roles.
  • If you find incident response and investigation intriguing, check out the Logical Operations CyberSec First Responder (CFR) certification. This ANSI-accredited and U.S. DoD-8570-compliant credential recognizes security professionals who can design secure IT environments, perform threat analysis, and respond appropriately and effectively to cyberattacks. Logical Operations also offers other certifications, including Master Mobile Application Developer (MMAD), Certified Virtualization Professional (CVP), Cyber Secure Coder and CloudMASTER.
  • The associate-level Cisco Certified CyberOps Associate certification is aimed at analysts in security operations centers at large companies and organizations. Candidates who qualify through Cisco’s global scholarship program may receive free training, mentoring and testing to help them achieve a range of entry-level to expert certifications that the company offers. CompTIA Cybersecurity Analyst (CySA+), which launched in 2017, is a vendor-neutral certification designed for professionals with three to four years of security and behavioral analytics experience.
  • The Identity Management Institute offers several credentials for identity and access management, data protection, identity protection, identity governance and more. The International Association of Privacy Professionals (IAPP), which focuses on privacy, has a small but growing number of certifications as well.
  • The SECO-Institute, in cooperation with the Security Academy Netherlands and APMG, is behind the Cyber Security & Governance Certification Program; SECO-Institute certifications aren’t well known in the United States, but their popularity is growing. 
  • It also may be worth your time to browse the Chartered Institute of Information Security accreditations, the U.K. equivalent of the U.S. DoD 8570 certifications and the corresponding 8140 framework.

Also, consider these five entry-level cybersecurity certifications for more options.

TipTip: Before you decide to purchase training for a certification or an exam voucher, see if your employer will cover the cost. Employers may cover all or part of the cost if you have a continuing education or training allowance, or if the certification is in line with your current or potential job duties.

Information security and cybersecurity jobs

According to CyberSeek, the number of cybersecurity job openings in the U.S. stands at almost 598,000, with about 1.05 million cybersecurity professionals employed in today’s workforce. Projections continue to be robust: The U.S. Bureau of Labor Statistics expects 33% growth in information security analyst positions between 2020 and 2030; in comparison, the average rate of growth for all occupations is about 8%.

Security-related job roles include information security specialist, security analyst, network security administrator, system administrator (with security as a responsibility) and security engineer, as well as specialized roles, like malware engineer, intrusion analyst and penetration tester.

Average salaries for information security specialists and security engineers – two of the most common job roles – vary depending on the source. For example, SimplyHired reports about $74,000 for specialist positions, whereas Glassdoor‘s national average is about $108,000. For security engineers, SimplyHired reports almost $112,000, while Glassdoor’s average is more than $111,000, with salaries on the high end reported at $261,000. Note that these numbers frequently change as the sources regularly update their data. [Meet the man who kept Microsoft safe and secure for more than a decade.]

Our informal job board survey from April 2022 reports the number of job posts nationwide in which our featured certifications were mentioned on a given day. This should supply you an idea of the relative popularity of each certification.

Job board search results (in alphabetical order by cybersecurity certification)




LinkedIn Jobs



CEH (EC-Council)
























Security+ (CompTIA)






Did you know?Did you know?: Cybersecurity matters even when you’re traveling. Find out how to keep your computer secure when you’re on the road for business or pleasure.

The importance of hiring information security and cybersecurity professionals

According to Risk Based Security‘s 2021 Year End Data Breach Quickview Report, there were 4,145 publicly disclosed breaches throughout 2021, containing over 22 billion records. This is the second-highest number of breached records, after an all-time high the year before. The U.S. was particularly affected, with the number of breaches increasing 10% compared with the previous year. More than 80% of the records exposed throughout 2021 were due to human error, highlighting an ever-increasing need for cybersecurity education, as well as for highly skilled and trained cybersecurity professionals. [Learn how to recover from a data breach.]

If you’re serious about advancing your career in the IT field and are interested in specializing in security, certification is a great choice. It’s an effective way to validate your skills and show a current or prospective employer that you’re qualified and properly trained. If you’re a business owner, hiring certified professionals and skilled IT managers can help prevent cyberattacks and provide confidence that your company’s security is in the right hands. In the meantime, review our quick cybersecurity tips to Excellerate your company’s protection.

Jeremy Bender contributed to the writing and research in this article.

Tue, 28 Jun 2022 12:00:00 -0500 en text/html
Killexams : Business learning leads the way

In this swiftly changing corporate environment where technology advances and market forces are continually progressing, business management education is becoming essential to keeping up with the global competition. Both large multinationals and smaller SMEs are investing in management qualifications. Lifelong upskilling can vary from MBA degrees to strategic planning seminars to ensure that managers of the future have the latest digital data analysis, financial education, and technical resources at their fingertips.

Prestigious academic institutions such as UCD Smurfit Business School, Trinity Business School, the IMI and tech companies are creating customised courses to meet the demands of leading organisations.

Helen Brophy, director of executive development at UCD Smurfit Business School in Dublin has witnessed a phenomenal increase from both graduates and business executives. She is also delighted with the financial ranking that puts her college 31st in the world of top Business School Educators.

“UCD Smurfit School has now been listed among the world’s top business education providers by the Financial Times for two decades,” says Brophy. “This milestone comes at a time when we are seeing extraordinary changes to ‘business as usual’ as we collectively face the defining challenge of a generation. Now more than ever, investment in the development of leadership talent is essential.”

Strategic leadership and a flexible approach to management are key to continued success and the Smurfit Business educators have degrees and courses tailored to meet the workforce.

“We have a popular portfolio of three-day programmes that are online and also in person as well,” explains Brophy. “Covid swiftly transformed the online learning experience and accelerated the creation of customised courses that are structured and updated continually to meet a transformed landscape. The Business degrees, leadership programmes and diplomas are accessible to students and executives who can enrol not only outside Leinster but beyond the perimeters to reach an international market as well.

“Business education is really lifelong learning as employees are staying longer in the workforce and changing roles that require a new set of skills and valuable learning curves. It is no longer possible to stay still if you want to excel and at Smurfit Business School future business leaders meet like-minded people who may be currently mid- to senior managers.”

The academic choices on offer include MScs in Business Analytics, Digital Marketing, and Aviation Finance as well as a much-needed degree in Renewable Energy and Environmental Finance. Companies that want to retain and train their brightest recruits are allocating an education budget to finance their employees to gain these credentials and to become motivated leaders in their future strategic plans.

Another key provider of advanced business education programmes is the Irish Management Institute, a globally ranked provider of executive development programmes. They have devised a number of courses that are geared at preparing leaders for the challenges ahead in this rapidly evolving marketplace. Cyrilla Costello, programme lead at IMI, highlights some of their latest offerings.

“One of the programmes that is of particular interest to companies is in our Customised Solutions offerings. It touches directly on the key priority of succession planning in companies and we run it in conjunction with the IDA,” she explains.

“Future Subsidiary Leaders aims to develop the mindsets and capabilities of leaders so that there is a strong pipeline in place to bring the organisation forward,” she adds.

Another leadership programme at the IMI run in association with IDA is titled Leading with Strategic Intent. This programme is mainly focused on increasing the influence of Foreign Direct Investment (FDI) subsidiary companies in Ireland by becoming more strategic in their outlook. It has a module dedicated to shaping future leaders, which caters for the development and growth of the organisation through talent management.

“Irish subsidiaries have long recognised the need to broaden their ‘bench’ of leaders who can strategically represent the organisation at global level and contribute to and influence strategic decision making,” says Costello. “By focusing on building the mindset and capabilities of high potential talent we will prepare these individuals to move from aspirational positioning to ready-now site leadership roles.”

A long-term strategy is also a key component of the IMI’s programmes — that means taking a futuristic view of how to move forward with continued progress and market gains.

“IMI’s work with senior teams in FDI multinationals has highlighted the need for organisations to become more strategic in terms of their long-term influence and impact,” adds Costello.

“The need to balance day-to-day operations with a more innovative and entrepreneurial mindset. This is now more critical than ever as leaders grapple with continuous change and disruption.”

Costello explains that it is aimed at high-potential candidates seeking leadership roles. Participating companies will be made up of a team of four executives selected from across the organisation and they collaborate to facilitate the development of a succession plan. Mentoring is provided by senior executives, while expert speakers, panel discussions and company group work will also form part of the experience.

Costello believes that the accurate health crisis and resulting disruption and ambiguity have propelled us to develop more agile ways of working. Leading With Strategic Intent will address the critical challenges facing leaders in multinationals and will enable the crafting of a future-focused strategy.

Other rapidly evolving areas of business management education are providing cybersecurity and grappling with the jungle of privacy laws. The rapid diffusion of interconnected digital technology in accurate decades has changed profoundly how people interface with the world around them.

Peter Carberry is a privacy and compliance expert at Huawei and they have cyber security courses aimed at tackling hacking risks as well as taking a people-centric approach to technology which guarantees informed choice and consent.

“A key component is a focus on the professional capabilities of those involved in developing the company’s digital products and services. This evolution has been further accelerated since the onset of Covid-19 with video conferencing, cloud offices, and contactless commerce becoming deeply embedded in our lives. The digitalisation of our society offers countless opportunities for improving people’s lives, but it also expands the array of risks posed to cyber security and privacy.” Huawei offers internal training and certification for cybersecurity and privacy practitioners’ knowledge. They also encourage employees to pursue external professional certification programmes to keep up with the competition. These include the International Association of Privacy Professionals (IAPP) which offer training to many of their staff and employees of other digital companies in the areas of law and regulations, privacy operation management, and privacy in technology. The Certified Information Systems Security Professional (CISSP) also provides important data management and privacy learning and is accredited for validating privacy expertise.

According to Carberry: “By supporting employees to constantly upskill in these areas they will keep abreast of the contingent worlds of cybersecurity and privacy.”

Miriam Di Nardi is the student recruitment officer at Trinity Business School and they have developed a number of MSC programmes as well as MBAs directed at business graduates, non-business graduates and business executives alike. The International Consulting Project, part of the MSc International Management programme, prepares graduates for the career environment ahead and they get to interact with successful Irish companies and evolve an implementation plan for them.

“The top companies know that Trinity graduates are high calibre and bring boundless energy and perspective so they are in big demand. Our students can ultimately end up evolving a real implementation plan within a leading company,” says Di Nardi. “We often see students gaining employment in the company they’ve been working with during the course of their studies.”

“For those who would like to study a more specific business course can avail of a suite of Masters in areas such as digital marketing strategy and human resource management as well as business analytics, which is popular due to the high demand for managers with data literacy. Their Postgraduate Diploma in Accounting is a particularly popular route for those seeking to fast-track the qualification because it provides significant exam exemptions from professional accountancy bodies (ACCA, CAI and CIMA), and can be accomplished in just nine months.

Eoghan O’Sullivan is Trinity’s Business School MBA recruitment officer and describes the type of applicants that enrol in their degree courses.

“Trinity MBA’s can help experienced professionals from any industry achieve their personal and professional goals and ambitions. Successful applicants are clear in their motivations, goals and rationale. Demonstrating collaboration and a desire to work in teams is also important. Peer-to-peer learning is central to the Trinity MBA so we seek applicants from a wide range of backgrounds and professional experiences.”

The Trinity MBA is an intensive project-based programme for those who want to accelerate their current career path or transition into a new industry. The programme facilitates live-action learning through participation in three company projects to help graduates develop leadership qualities. There are three distinct MBA’s on offer — the one-year full-time — suitable for professionals who can dedicate themselves to an intensive one-year programme. Then the Executive MBA which is a two-year, part-time programme for those who wish to study while working. The third one is the Flexible Executive MBA, this is a two-year, part-time, distance-learning model. Students have the flexibility to study remotely without attending classes on campus.

“Most of those who enrol in the MBA would have five-year professional experience in a company and a degree or else sit a GMAT to gain entry. There is a big demand for knowledge in the area of business analytics, artificial intelligence and block chains.

“Gender-wise, the classes are very well balanced with a more or less 50-50 male and female split. They are heavily projected and conducted in association with feedback and advice from leading Irish companies,” says O’Sullivan. “A lot of the group work is done via online theatres that were launched and worked well through the pandemic.

Finally, O’Sullivan advises that most of the MBA recruits would have on average five years of professional experience working and can therefore apply the teaching to real case scenarios.

As business team leaders and marketing managers navigate an increasingly complex business world, the need to constantly update skillsets through further education programmes is essential in this fast-moving digital economy. In today’s market, the notion of being a Born Leader is hypothetical — instead the truly ambitious learn how to become business leaders of the future.

Tue, 12 Jul 2022 11:01:00 -0500 en text/html
Killexams : Robert Asante

Robert is currently the Executive Director, Interim Chief Privacy Officer for Drexel University. He oversees all aspects of Privacy Services for the University, including: ensuring compliance with HIPAA Privacy and Security Rules, formulating the privacy program goals and objectives, monitoring and investigating potential privacy and security incidents, managing business associate relationships, and reporting annual HIPAA privacy breach incidents to the Office for Civil Rights.

Robert is among the few in the privacy profession with training and experience in all the three major areas: business, privacy and security. Robert earned his BS in Computer Technology and a dual MBA concentration in Finance and Management Information Systems from Drexel University, and he is a doctoral candidate for the University of Pennsylvania's Executive Doctorate in Higher Education Management. His dissertation is on the structure of privacy, compliance and data security programs in higher education. Robert also holds several certifications from (ISC)2 and ISACA: Certified Information Systems Security Professional (CISSP), HealthCare Information Security and Privacy Practitioner (HCISPP), and Certified Information Security Auditor (CISA).

Prior to returning to Drexel in 2012, Robert owned Asante Systems & Management LLC, providing consulting services on regulatory compliance, privacy and security. Robert has been a keynote speaker for IAPP, ISACA, InfraGard, and others.

Born in Ghana, Robert has over 24 years of experience working on his family's farm. He is married with two beautiful children and has a passion for cooking and playing soccer.

Fri, 12 Oct 2018 12:48:00 -0500 en text/html
Killexams : Vice President

In her role as Vice President and University Chief Compliance and Privacy Officer, Kim Gunter leads the Office of Compliance, Privacy and Internal Audit, overseeing all ongoing activities related to the development, implementation, maintenance of, and adherence to Drexel's policies and procedures covering the privacy of and access to sensitive information, including student information and patient information, in compliance with federal and state laws. She also oversees the University's adherence to federal, state, and local regulatory requirements and the University's policies and procedures, including the Code of Conduct, Conflict of Interest Program and the Drexel Compliance Hotline program.

Kim has over 20 years of experience in health care compliance, privacy, and legal, regulatory and risk management. At TridentUSA Health Services, a national bedside diagnostics company, Kim served as the organization's first compliance and privacy officer and built the program there from the ground up, serving as the main point of contact for all compliance program activities, including health care, HIPAA privacy and security, elder justice, Medicare and state regulatory compliance concerns. Kim was also Trident's first Chief Diversity Officer, where she implemented institutional goals to address issues of equality for all employees and associates.

Prior to Trident, Kim served as a privacy director at Johnson & Johnson, as associate director of marketing compliance at Centocor Inc., as a compliance and privacy manager at PwC (where several academic medical institutions were among her clients), and as a risk management consultant for Princeton Insurance Company. Throughout these roles, Kim acquired significant experience implementing privacy and audit programs on a global scale. She excels in establishing methodologies and assessments, compliance standards, and educational training for the protection of personal information in a variety of industries and business operations.

Through her work with the International Association of Privacy Professionals (IAPP), Kim helped develop a Higher Education Privacy Section, and as a member of its faculty, she trains certification candidates on the key elements of higher education laws. Kim has served as an adjunct professor at Widener University School of Law. She continues to mentor and teach J.D. candidates as a guest lecturer and member of the Health Law Program's Board of Advisors at Drexel's Kline School of Law.

Kim obtained an undergraduate degree in business administration from Georgetown University, a law degree from Villanova University School of Law, and a master of laws from Widener University School of Law. She has earned an Associate in Risk Management from the Insurance Institute of America, Certified Information Privacy Professional and Manager designation from the IAPP, and a Certified Compliance and Ethics Professional designation from the Compliance Certification Board.

Mon, 17 Aug 2020 05:14:00 -0500 en text/html
Killexams : Michael Bruemmer

Michael Bruemmer, CHC, CIPP/US, is vice president with the Experian Data Breach Resolution group. With more than 25 years in the industry, Bruemmer brings a wealth of knowledge related to business operations and development in the identity theft and fraud resolution space where he has educated businesses of all sizes and sectors through pre-breach and breach response planning and delivery, including notification, call center and identity protection services. Bruemmer currently resides on the Ponemon Responsible Information Management (RIM) Board, the International Security Management Group (ISMG) Editorial Advisory Board and the International Association of Privacy Professionals (IAPP) Certification Advisory Board. He can be reached at

Thu, 05 Sep 2013 04:52:00 -0500 text/html
Killexams : OneID announce ISP certification

OneID® is now a certified Digital Identity Service Provider (ISP) under the UK Digital Identity & Attributes Trust Framework (DIATF) and is the first provider with a 100% digital process to achieve this certification.

They are the first Orchestration Service Provider (OSP) to receive certification. As an OSP, OneID® plays the role of a ‘hub’ to connect all of the UK’s high street banks with providers of any online journey that needs customers to identify themselves.

OneID® is also the first ‘Scheme Owner’ to be certified against the DIATF for any roles. The company operates a multi-sector scheme that enables bank customers to consent to safely share their bankverified identity information. OneID® ensures that all businesses in the scheme have been vetted and are given the OneID® Trustmark so you know that the business you are dealing with online is legitimate.

OneID® is unique as it is the only fully digital identity service. The customer’s journey is friction-free and requires no app or account setup, no scanning of paper documentation or selfie-taking, and no data entry. The service enables safe and frictionless identity proving for over 40 million people in the UK. If your customer uses internet or mobile banking, they already have everything they need to use the OneID® service.

The certification of Digital Identity Providers under the UK Digital & Identity Attributes Trust Framework is a huge step forward in establishing a national approach for digital identity solutions in the UK. Enabling people to prove who they are online easily and securely, improving user experience, increasing security, and boosting the UK’s economic growth.

OneID®’s core aim is to enable trust, and it believes that a national approach is needed to ensure the internet becomes a truly safe and trusted place for individuals and businesses. This certification recognises OneID®’s part to play in that world.

Fri, 08 Jul 2022 00:15:00 -0500 en text/html
Killexams : School of Information Management


From Dalhousie University in the ‘70s, I spent 12 years in the book business followed by 28 years in the public sector with the Province of NS. Coming from a policy background, I have been broadly immersed in information policy and the field of information access & privacy (IAP) since 1991. As a certified IAP professional, I have been involved with the development of IAP legislation and policy over the years; spoken across Canada on privacy, access, IM, and the IAP profession; and delivered training in the IAP field in the government, corporate, and academic arenas. Leaving the public service in 2016, I started teaching part-time here at Dal; founded the company Teal Creative Thinking specialising in consultation in the areas of privacy, policy, process, and patient advocacy; and have become more actively involved in the area of patient-oriented health research. From November 2017 to April 2018, I was delegated as the FOIPOP Coordinator for Dalhousie University.

As regards information access and privacy, my firm belief is that while the ‘how’ of legislation, regulation, and policy are required, if we understand the ‘why’ and apply it at the developmental front end, it makes for a less stressful life.

Fri, 18 Nov 2016 06:34:00 -0600 en text/html
Killexams : Online Webinar Now Available: Kristin Bryan and Kyle Fath Discuss AI and Biometrics Privacy Trends and Developments

Thursday, June 23, 2022

Earlier this month CPW’s Kristin Bryan and Kyle Fath presented a webinar on “AI and Biometrics Privacy: Trends and Developments” with the International Association of Privacy Professionals (“IAPP”), the largest global community of privacy professionals.  A recording of that webinar is available to all IAPP members and available (for CPE credit) here.

As summarized in the program description on the IAPP website:

Artificial intelligence and biometrics privacy are top-of-mind issues for companies and their privacy professionals, regardless of the industry sector in which they operate. AI will soon be regulated in the U.S. in an unprecedented manner: The patchwork of 2023 state privacy laws imposes restrictions and obligations on organizations carrying out AI, profiling and automated decision-making processes, and the Federal Trade Commission is poised to promulgate regulations on automated decision-making and related topics. Organizations employing facial recognition and other biometrics technologies are under the constant threat of putative privacy class-action litigations under Illinois’ Biometric Information Privacy Act and a handful of other state laws. With BIPA copycats and similar legislation introduced across the country, and a lack of clarity in the current case law, the risk associated with biometrics will certainly continue, and likely increase. Needless to say, global developments in these areas add further complexity to organizations with international operations.

The program addresses, among others:

  • AI, biometrics and privacy compliance — Restrictions on and obligations under forthcoming privacy laws in California, Colorado, Utah and Virginia, including with respect to profiling, automated decision-making, and sensitive data.

  • AI and biometrics litigation overview — The current litigation landscape concerning AI and biometrics, including facial recognition.

  • Legislative and regulatory priorities — Pending and anticipated legislative and regulatory developments, both federal and state, as well as globally.

For more on this, stay tuned.

© Copyright 2022 Squire Patton Boggs (US) LLPNational Law Review, Volume XII, Number 174

Thu, 23 Jun 2022 11:56:00 -0500 en text/html
Killexams : IOUpay achieves milestone Shariah Compliance Certification

IOUpay has achieved a major milestone in its bid to become a major player in Islamic finance in Malaysia with the necessary certification.

Malaysia focused fintech, IOUpay (ASX:IOU), has been awarded Certification of Shariah Compliance by the independent, global Shariah advisory firm, Tawafuq Consultancy.

Its wholly-owned subsidiary IOUpay Asia has also signed a merchant acquiring services agreement with Souqa Fintech Sdn Bhd (trading as PayHalal).

PayHalal is a Shariah-compliant payment gateway, an important and necessary requirement for IOUpay’s myIOU Islamic BNPL service.

The agreement provides for the acquisition of merchants and processing of BNPL transaction payments in accordance with the Shariah principles of Islamic finance.

Milestone accreditation

The Certification of Shariah Compliance is an important milestone in the ongoing development of IOUpay’s instalment-based consumer finance product suite.

The company said Shariah compliance and Islamic finance product capabilities provides several strategic growth opportunities including:

  • Opens access to new communities of consumers and merchants (more than 60% of Malaysia’s population follows the Muslim faith)
  • Positions IOUpay to develop opportunities with Islamic banks and non-bank financial institutions for instalment plan-based consumer finance programmes
  • Pre-positions the company for territory expansion into additional SEA countries with large Islamic populations
  • Diversifies products and service offerings across regulated consumer finance credit markets.

myIOU Islamic

IOUpay has been developing its Shariah-compliant BNPL offering to be marketed under the name myIOU Islamic.

In Malaysia, to access Islamic financing and BNPL opportunities within industry best practice for Shariah principles requires certification from a Shariah advisor licensed by the Securities Commission Malaysia.

Annual certification of Shariah Compliance has now been provided by Tawafuq Consultancy commencing 12 July 2022, subject to annual compliance audits for subsequent yearly renewals.

Following the issue of certification, IOUpay will offer both conventional and Islamic financing.  The business model requires a partitioning of the myIOU portfolio, integration with an Islamic Payment Gateway as well as separate documentation, policies and procedures, and an Islamic Bank Account for all Shariah-compliant transactions.

PayHalal Islamic Fintech Payment Gateway

PayHalal provides Islamic financial technology solutions, including payment gateway services, to approximately 7,000 Shariah-compliant merchants in Malaysia.

IOUpay Asia’s agreement with PayHalal is on a non-exclusive basis for a three-year term starting on July 12.

The agreement provides for PayHalal to acquire and refer to IOUpay Asia merchants who follow Shariah principles and wish to offer to their customers BNPL payment options consistent with Shariah principles and the practices of Islamic finance.

This provides IOUpay with an established portfolio of Shariah merchants into which myIOU Islamic can be promoted, as well as a streamlined marketing and onboarding process for low-cost merchant acquisition.

IOUpay Asia will have absolute rights and discretion in the approval of any merchants referred by PayHalal.

Once the myIOU Islamic BNPL offering is made available, consumers will register with myIOU and complete myIOU BNPL transactions in the usual way.

IOUpay Asia will settle with PayHalal each day in a single payment for all myIOU transactions completed with PayHalal merchants the previous day.

PayHalal will then settle with the individual merchants. IOUpay Asia will collect myIOU BNPL instalment payments directly from customers’ card accounts in the normal course.

Importantly, this streamlined settlement process means costs associated with payment gateway services are paid out of the proceeds paid to merchants such that the gross margin earned by IOUpay Asia for individual myIOU Islamic BNPL transactions will be fixed and agreed between PayHalal and IOUpay Asia.

Integration works have already been completed so that, once onboarded, PayHalal merchants can process myIOU Islamic BNPL transactions via PayHalal’s Shariah-compliant payment gateway.

IOUpay Asia is reviewing PayHalal’s merchant portfolio to develop a shortlist that may be suitable for referral as myIOU Islamic merchants.

PayHalal will then promote to the shortlisted merchants the myIOU BNPL payment option and refer to IOUpay Asia those merchants wishing to apply for the service.

IOUpay recently appointed Dato’ Wan Ahmad as its new non-executive chairman.  He has vast experience in the Malaysian finance sector and Islamic capital markets.

This article was developed in collaboration with IOUpay,  a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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