Certified Securities Operations Professional (CSOP)

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Bank Training Center offers CSOP training and certification information for those individuals interested in earning the prestigious Certified Securities Operations Professional certification.

The Certified Securities Operations Professional (CSOP) certification is the undisputed professional credential for financial services professionals whose primary function and expertise focus on the execution of processing operations related to all manner of securities.

The CSOP designation signifies that an individual working in this field has attained comprehensive training in the following professional knowledge areas: Types of Securities, Regulation & Compliance, Controls, Reconciliation & Audit, and Industry Structures.

Curriculum

Candidates must pass an examination that covers the knowledge areas below:

Types of Securities
The various types of securities including corporate equities and corporate debt securities, US government and agency securities, municipal securities, international and specialized investments, etc.

Regulation & Compliance
Federal laws and regulations that are applicable to securities operations including, but not limited to, Securities Acts of 1933 & 1934, SEC rules and regulations, NASD rules and regulations, MSRB/GSA rules and regulations and NYSE rules and regulations.

Controls, Reconciliation & Audit
How a securities operations department can manage its trading risks through implementing proper controls, relying on meticulous reconciliation procedures and following prescribed audit procedures. In addition, you need to understand how these elements assist in establishing and maintaining a properly controlled processing environment.

Industry Structures
The various roles that key industry structures have in the securities operations industry including depositories, clearing corporations and exchanges such as NASD and NYSE.

Examination Requirements

The qualifying exam consists of 150 multiple-choice questions; three hours is provided in which to complete the exam. Candidates may retake the exam if they do not pass; the exam re-take fee is $150. Candidates have the option of taking the exam in one of two formats:

A proctored exam at the candidate’s company, with an ICB-certified member serving as exam proctor
At an exam site that is within 2 hours driving time from the candidate's company

Additional Requirements

Candidates must meet the experience, education, ethics and examination requirements determined to be competency measures for retirement services professionals:

Professional Experience & Education - must meet one of the following requirements:
- A minimum of three (3) years experience in securities operations, and completion of an ICB-approved educational program/school; or
- Five (5) years experience in securities operations
Professional Reference - One letter of recommendation from a senior official attesting to your qualifications for certification including your securities operations experience
Ethics Statement - Each candidate must sign ICB's Professional Code of Ethics statement, which is the last page of the application
Application – Candidates must complete and submit an application, affirming that they comply with the eligibility requirements at the time of submission; application fee is $395, covers exam as well

Continuing Education Requirements

Each certificant must complete thirty (30) credits of continuing education every three (3) years. Certificants are allowed to carry over up to ten (10) credits per three-year cycle.

An annual membership fee of $199 also is required to keep certification active.

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