A new country. A new industry. A certification that changed everything.
When Rana Maalouf immigrated to Canada in 2023, she didn’t just pack her bags – she packed ambition. With a background in credit risk analysis and a sharp eye for financial patterns, Rana quickly set her sights on a career in financial crime compliance. Rana earned her CAMS certification and landed a role as an AML Analyst at BMO.
We sat down with Rana to hear how she made it happen – and what her journey can teach other professionals building their AML careers from the ground up and importantly pass the CAMS exam.
Can you introduce yourself and your current role?
Rana Malouf: My name is Rana Maalouf, and I’m currently working as an AML Analyst at BMO.
I immigrated to Canada in 2023, and since then I’ve been very focused on rebuilding my career in risk and compliance. I first earned my PMP certification, which helped me strengthen my structured and analytical mindset.
I then worked as a Risk Rating Specialist at TD Bank, where I analyzed financial statements and assessed credit risk using risk rating models.
As I was already building my career in risk, pursuing the ACAMS certification was a natural next step — it aligned perfectly with my long-term goal in financial crime and compliance.
Today, in my role at BMO, I conduct enhanced due diligence on high-risk clients, perform AML investigations, and ensure compliance with regulatory requirements – applying both my risk background and ACAMS knowledge.
What motivated you to pursue the CAMS certification?
Rana Malouf: What motivated me was really the natural progression of my career in risk.
I started in credit risk analysis, where I developed a strong foundation in financial assessment and understanding client risk. When I moved into AML, I realized that financial crime is a deeper and more complex layer of risk — one that requires specialized knowledge and a strong regulatory understanding.
Since I had just immigrated to Canada in 2023, I also wanted to align myself quickly with the Canadian regulatory environment and demonstrate my commitment to this field.
Pursuing CAMS allowed me to gain a structured understanding of AML frameworks, typologies, and regulations – and it gave me the confidence to perform my role more effectively.
“CAMS was not just a certification — it was a strategic step to transition from general risk analysis into financial crime compliance.”
How does CAMS align with your long-term goals?
Rana Malouf: My long-term goal is to contribute to the fight against money laundering and terrorist financing by becoming a skilled financial crime investigator.
CAMS aligns perfectly with this vision because it gave me the knowledge and structure to understand AML not just as a process, but as a mission. It strengthened my ability to think critically, analyze risk, and understand financial crime from a global perspective.
In the future, I want to grow into a professional investigator handling complex cases and making a real impact in protecting the financial system.
How long did you prepare, and what was your study schedule?
Rana Malouf: My preparation was built on both professional experience and consistent study.
Even before becoming an AML Analyst, I was exposed to AML concepts during my time as a credit analyst — part of my role involved onboarding clients and monitoring accounts, so I already had a foundational understanding of risk and compliance.
I officially registered for the CAMS exam in January 2025 — three months after starting as an AML Analyst at CIBC — and successfully passed it in May 2025.
CONSISTENCY was the key. I dedicated around six hours per week to studying, focusing on understanding AML frameworks, typologies, and regulations rather than just memorization. That structured and disciplined approach allowed me to stay on track and build confidence throughout my preparation.
What was your learning style?
Rana Malouf: My learning style is very structured. I started with the ACAMS study guide and took detailed notes to really understand the concepts — not just read through them.
Then I focused heavily on my weak areas. I didn’t just keep moving forward — I made sure I genuinely improved where I was struggling. I also practiced using different question sets to test my understanding from multiple angles.
But honestly? What made the biggest difference was the mock exams. Each question and its explanation felt like a full review session — and it really helped me learn how to think the way the CAMS exam expects you to think.
What was your exam-day experience like?
Rana Malouf: On exam day, I was very focused and calm. I made a conscious decision to rely on my logical reasoning rather than overthinking.
The CAMS exam is not just about memorizing — it really tests how you think. So I used my judgment, eliminated the clearly wrong answers, and trusted my preparation.
“That mindset — staying calm, thinking logically, trusting my prep — helped me stay confident throughout the entire exam.”
Which topics appeared more than expected?
Rana Malouf: One thing that appeared more than I expected was the focus on real-life scenarios.
The exam is not purely theoretical — it tests your ability to apply AML concepts in practical situations. Many questions are scenario-based: you need to assess risk, identify red flags, and choose the most appropriate action.
That’s why logical reasoning played such a big role for me. It wasn’t about memorizing definitions — it was about understanding how to think like an AML professional.
I also made sure to deeply understand the FATF 40 Recommendations, as they are fundamental to the exam. And my experience working with AML policies at CIBC played an important role — I could clearly see how these global standards are applied in real-world banking environments.
How can professionals balance work and CAMS preparation?
Rana Malouf: Consistency is key. I followed a structured weekly schedule, studied a few focused hours each week, and prioritized my weak areas to make every study session count — not just log hours.
You don’t need unlimited time. You need a plan and the discipline to stick to it.
“Stay consistent, focus on your weak areas, and most importantly — practice with mock exams. Each question and its explanation is a full revision. It teaches you how to think, not just what to memorize. Focus on mock exam questions and their explanations — they are your best learning tool.”
Rana Maalouf didn’t have a straight path — she had a plan. She arrived in Canada with no local credentials, rebuilt her career from scratch, and passed the CAMS exam on her first attempt while working full-time. No shortcuts, no special advantages — just six focused hours a week and the discipline to stick with it. Today she’s an AML Analyst at BMO, doing exactly the work she set out to do. Her message to every professional preparing for CAMS is simple: learn to think like an AML professional, trust the process, and let the mock exams do their job.
If you want to succeed like Rana, everything you need is waiting for you in the CAMS Study Lounge.
