Certification as a Certified Credit Advisor requires completion of an MFAA approved course of study. The MFAA Applicants must:
- have successfully completed the MFAA Initial Compliance Pack 201 (ICP)-A course, including Anti Money Laundering and Counter Terrorism Financing (AML/CTF) instruction;
- must be mentored under an MFAA approved mentor program until such time as 2 years experience in total is attained;
- must have an Internal Dispute Resolution (IDR) program in place;
- must not be disqualified from engaging in credit assistance or provision of credit under the National Consumer Credit Protection Act or other relevant legislation;
- must hold professional indemnity insurance for a minimum value of $2 million for any one claim and $2 million in aggregate;
- must hold a minimum of 12 months run-off cover on a professional indemnity policy;
- must provide a copy of a Personal Credit Report that is acceptable to the MFAA
- must agree to abide by the MFAA Constitution, Code of Practice and Disciplinary Rules and other Board authorised Policies, Procedures and Protocols as issued from time to time.
See attached document for full eligibility requirements.