Risk Jobs London

London has two main financial centres. The City of London (the Square Mile) and Canary Wharf. Combined they have over 400,000 professionals working either in financial services or as support, such as consultancy. If you are considering a move from overseas or a move within the UK to London then it is a great place to kick start your career in Risk. Out of the financial crisis, the word ‘risk’ has gained immense popularity. Risk departments have renewed importance and are well funded by the board and senior management. Whether you decide to embark on a career in credit risk, market risk or operational risk is entirely up to you. All sectors of risk are excellent choices. Some may suit your personality better than others. Over time we will uncover them all for you within our career pages.

For credit risk jobs
For market risk jobs
For operational risk jobs

 

Compliance Jobs London

Within the centre of London lies The City of London (also known as the Square Mile). It is one of the largest financial districts in the world. Only 10,000 people live there but over 330,000 people work there, mainly in the financial sector. It is an area rich with possibilities, intellect and wealth. Canary Wharf which is also referred to as the Docklands, is situated in the east side of London. This area is also dominated by the financial services sector with over 90,000 people working there either directly involved in financial services or in a supporting sector such as consultancy. With such a large and concentrated financial service workforce there are many compliance jobs available.

Each sector has it’s own rules and regulations which are unique to the jobs that those compliance professionals undertake. Often it can be difficult to make the change from one sector to another but where there is a short supply of candidates (often this is the case in compliance) the odds are in your favour. The sectors most commonly found in The City and Canary Wharf are:

Asset Management
Consultancy
Corporate Banking
Investment Banking
Life and Pensions
Mortgage Providers
Private Banking
Regulators
Retail Banking
Stock Broking
Trade Association

Link: compliance jobs london

 

Can we expect 40 more days of rain?

The 15th July 2010 was St. Swithin’s Day:

‘St. Swithin’s day if thou dost rain
For forty days it will remain
St. Swithin’s day if thou be fair
For forty days  ’twill rain nae mair.’

To avoid confusion, ‘nae mair’ translates as ‘no more’ (apologies if we are being condescending!).

What does this have to do with compliance?

St. Swithin’s day didn’t make it to number one in Yahoo Trends it was Wayne Rooney. Our point: society has undertaken a cultural shift over the past 50 years. The popular old rhymes and wives tales of yesteryear are replaced with footballers and fashions whims.

Compliance in it’s own way has seen fashions change with the FSA formerly acting in a ‘principles-based’ manner and now with a more proactive ‘outcomes-based’ supervision post-financial apocalypse. This shift in regulatory enforcement brings new debates from the influencers in The City. It is the impact of a financial organisations culture that interests Hector Sants.

Mr Sants was speaking at the Chartered Institute for Securities & Investment (CISI) on 17th June 2010 and expressed a personal view that we believe must be listened to in the compliance sector.

He said that, “historically regulators have avoided judging culture and behaviours. This has been seen as too judgmental a role to play.” He goes on to say, “However, given the issues we continue to see over time, I believe this one-dimensional approach has to be questioned. Every other aspect of the regulatory framework is under scrutiny. We should not shy away from debating the culture question.”

We think Mr. Sants makes a valid point. At a very fundamental level most issues of improper trading or behaviour are cultural. You can put strict rules in place and monitor everything 24/7 but ultimately any organisation is governed, at its very core, by culture. As a compliance professional you are heavily involved in this debate whether or not you choose to be. Do feel that your organisations culture allows you to question decisions that others take without fear of retribution? Perhaps, this single question and the answer you give can help you to decide, as a compliance professional, whether or not you are in the right organisation.

No doubt we will all see a shift in attitude from the regulator about whether or not they should get involved in regulating culture. Quite how they would do this is hard to say, but there is no doubt that you will have an obligation to enact some form of cultural change in your organisation if the regulator decides it is the right path.

If your existing employer doesn’t embrace the culture that allows you to do your job to its most effective level, should you be thinking about moving on?

 

Interim Management in Compliance – Considerations

Is everyone doing it? Is interim the new black? With financial institutions sluggish on making new hires and senior compliance managers/directors looking for ways to advance their career, the interim management route is a strong contender. This article covers what drives the demand for interim managers, what you should consider before becoming an interim manager and of course, what you should do in order to present yourself as an effective interim manager so that you can win that contract.

Interim management has been in demand for a long time particularly where organisations are going through change. The demand has primarily come from the advantages it offers employers over traditional employee management:

1. They don’t need to take on a permanent employee with all those permanent commitments. After your 3/6/9/12 month project an employer can say bye bye. They don’t have to worry about paying you holiday pay or contributing towards your pension, they also don’t have to find you anything else to work on. This makes even some of the more significant daily rates attractive (£1000+ per day for an interim manager is not uncommon). Equally, the likelihood is that you are on one or two weeks notice so if things go sour either the interim manager or the employer can end things quickly.

2. An employer gets the right person for each project. The chances are you specialise in a certain sector of compliance, perhaps you have a strong retail banking background or maybe you’re strong in the investment management sector. This means an employer can help justify your expense to the board, because the last thing they want is to put someone into an important project merely because a. they are a permanent employee and b. it’s politically correct to do so.

3. If a key member of staff leaves, then hiring an interim manager makes sense until a permanent employee can be found which makes a suitable replacement. Taking on an interim manager is typically a quick process and most interim managers will be good trouble-shooters meaning that if the key member of staff left the employer in a mess, the interim manager can find solutions and even offer a fresh, agenda-free approach going forward.

With the massive change in the financial industry over 2008/2009 the role of the interim manager has become even more important. Change programs and integrations are everywhere, particularly where there have been buy-outs and industry consolidation. Merging two large banks together is going to produce A LOT of change and those institutions need interim managers that can find solutions and do it effectively.

So what should you consider before you decide to make the change:

Do you offer something unique to the market?

For example, are you particularly strong in writing compliance policy within a life and pensions business? Your specialist, high-value knowledge could be exactly what the market needs. Test it by speaking to some compliance recruiters and asking them: Would I be in demand?

Have you operated at a senior management level and do you have the authoritative personality that can bring control to a runaway project?

Typically, interim managers operate at a senior level, so you will need to demonstrate this. Also, do you possess the ability to jump into a difficult situation and bring order to a chaotic environment? Quite often you will need to be very assured in yourself, because the chances are you won’t be popular when making big decisions, and particularly when you haven’t had time to build a relationship with the people you are working with.

Do you have experience working in a variety of different companies?

If you are going to compete with existing interim managers you will need to have moved around a bit in your career. An employer is unlikely to take that initial gamble on hiring you for an interim assignment if you have been working for the same business for the majority of your career. In fact, an employer will probably think you are only ‘trying’ interim management because other avenues are closed to you. Make sure that if you are serious about interim management you are also confident that as a career choice it suits your personality. The more risk-averse would be advised to stay away from an interim management career.

Are you able to afford to work as an interim manager?

There may be periods of six to nine months where you are searching for a new interim position. This must be taken into consideration. During that time you need to be on the phone to recruiters and employers, and keeping a close eye on the interim job market. Not everyone likes the idea of these potential periods of cash drought, so again something to consider.

Are you flexible on location?

If you like to travel then interim management may be the ideal scenario. Employers will need you to work in all sorts of locations and countries. Of course, you can just stick to working in your own country but you may find that your options become limited that way. Part of being an interim manager is doing the jobs others won’t or can’t do.

Are you happy managing your own finances?

As an individual that works in the banking/finance sector I’m sure you don’t mind working with numbers. The vast majority of interim managers operate as a limited company. Firstly, this protects you from unlimited liability and gives you credibility as an interim manager. Secondly, it provides you with lots of paperwork to enjoy over the tax year. We won’t deny it though; the tax advantages do make interim management attractive. We’d advise you to speak to an accountant about this and I’m sure they can put the right information your way. You might also consider taking out professional indemnity insurance just to cover yourself should a project or assignment go disastrously wrong.

In order to present yourself as an ace interim manager you are going to have to have at least three things:

1. An interim managers CV. The CV should be tailored to each position outlining at the very start how you can solve any problems or ‘challenges’ that might be encountered on the project. Be as direct as you can – if they need someone with board-level experience then make sure you include this in the CV. Do not assume the reader knows anything.
2. A strong background in troubleshooting and achieving difficult targets. No you don’t have to be superman/superwoman but you do have to demonstrate tangible achievements: “Successfully integrated two 50 person departments over a 6 month period to achieve a cost saving of £10 million per annum”. That’s a starter for 10.
3. The right attitude. You may need to go into interview situations approaching the interview in a completely new way. The interview is no longer a discussion about your long-term career; it’s about what you can do today, without training or any comfortable induction period. You need to offer them solutions at the interview, and it may even involve giving a little bit of free consultancy to the interviewer in order to demonstrate your talents and fit for the role. In our previous lives as compliance recruiters we’ve had calls asking for interim managers to start that very day so be prepared by having the right attitude to accept that some resilience to chaos may be required.

We hope this article has proved useful if you are considering an interim management career. Remember, it is a career, not just a stopgap whilst you look for a permanent job. Interim management can pay very well and it might just prove to be a more enjoyable pursuit than traditional employment. Food for thought indeed.

 

Student Enterprise

Lets be frank. The job market is very difficult for graduates. I graduated in 2004 and I felt things were getting tough, even then. There were simply too many graduates and not enough graduate jobs. The shiny allure of the well-paid graduate job was o so often dangled in front of me by teachers and headteachers at my secondary school. University seemed logical. And it was. I got a lot from my Uni days. That’s because I made the best use of the resources my University offered. I realised early on I had to differentiate myself from the other graduates in order to secure a decent job, but what to do? Introducing Student Enterprise…

A 2nd year friend of mine was bragging one day about how he had fitted a family friend’s office with a networked computer system in one day and walked away with £300 to spend. Now, I’m not that money motivated but when you’re a skint first year student anything beats the catering industry for minimum wage, and I also saw that what he had done was very different compared to other students in our University. Perhaps some sort of enterprising adventure was the way forward? No-one I knew was running their own business so it ticked the boxes in terms of being different and I thought that any potential employer would be mad to ignore a graduate who had actually run their own business!

So I decided with my friend that we would make this into an ongoing concern and make something big and bold out of it. He was great at the IT but terrible with the numbers and sales, I had a bit of sales experience and I was decent with numbers (I was studying Economics which should have helped!) so together we compensated for each other’s shortcomings and Klebensen IT Services was born. We had the right skill sets to some extent, the desire, and the idea but we didn’t have the knowledge. When you don’t have the knowledge you need to go and find someone that does. We hoped that the University might be able to help. Luckily for us they could…

That very year the University had been given funding to employ an ‘Enterprise Manager’. We didn’t have a clue what this person did at first but after a some logical deduction and some questions we were told by the careers service that this was the person we should speak to about setting up our own business. Boy are we glad we did.

At our first meeting with our Enterprise Manager we metaphorically opened a big can of worms around how our company should be structured, how it should be financed, how it would make money etc. In effect we had to make decisions and write them all down in a (dun dun dun – think big loud drums) business plan. For many of you the thought of doing this is probably enough to put you off the whole thing, but a business plan does not have to be boring or long-winded. You can have the whole thing on a sheet of A4 if you like. It depends on what motivates you. Although I would say you need some sort of plan. Without a plan we would be running around having minimal impact on sales and probably spending the wrong amounts of time on wrong areas of the business. Also, we were both putting our student loans into the business as an initial investment, so it had to work. You can make any business plan interesting by putting lots of B’HAGs in it (Big Hairy Audacious Goals). As two students dreaming of the riches that might be bestowed upon us, we decided some B’HAGs wouldn’t go a miss. One of them was to leave Uni debt free (we didn’t quite achieve this but we didn’t do too badly).

Getting all this ‘boring’ stuff set up made things so much easier in the long-run. We had credibility, good marketing material, we knew our financial targets and we could talk confidently together about our shared goals for the company. I know it sounds very corporate but it all made sense. Most importantly we looked, sounded and felt professional. We were already honing the skills that would set us apart from all the other graduates. Better still we had a couple of years left at University to improve on our mistakes and build something different.

Once the foundations were solid it was all about finding clients and providing services. We did some web design too although looking back on our designs and how things have moved on makes me feel old! We took on four additional staff that were all paid on a project-by-project basis. As a general rule we split the profits from each project evenly with the business getting its own share too. Employing other students was pretty straightforward but there are some legal obligations we needed to fulfill, again we got some good advice from the Enterprise Manager.

The proof, is of course, in the pudding. So what was my first graduate job? Having run my own business for the best part of 2 years I decided that a job with a world leading organisation would help to round me out as an individual. I applied for a job with Diageo, the largest drinks business in the world. There were 3 jobs available on the South Coast of England: Brighton, Portsmouth and Southampton. There were over 1600 applicants. I got the job in Brighton. It was an amazing feeling and Diageo were a fantastic company to work for. I did however learn quite quickly that big companies weren’t for me. I like smaller, more nimble companies so after a year of the big company lifestyle I decided to move on.

What do I do now? After various stints of working for others I’ve decided I prefer the freedom of self-employment. I’ve set up this global job board for risk jobs and compliance jobs in the financial services sector. It’s a growing area and one which you might want to look into as a career option. I’d recommend it highly as a career, if working for others is your thing ;-)

If you want to separate yourself head and shoulders above your fellow graduates and make some money in the process then seriously consider setting up your own business. Even if you are just curious you should make an appointment to go and see your local Enterprise Manager who’ll tell you what sort of advice is on offer. In Scotland, the Scottish Institute for Enterprise has a list here: http://www.sie.ac.uk/index.php/home/contact-us/enterprise-managers.

Building a business at University was tough but it will provide you with additional skills that other graduates won’t have. So my parting advice is…
Go on, set yourself some B’HAG’s.

G. Kleboe

 

International Capital Markets Association Centre (Reading)

http://www.icmacentre.ac.uk/

MSc Capital Markets, Regulation and Compliance

Global financial services and capital markets industries are becoming more complex and sophisticated. Today, recruitment in the capital markets regulation and compliance areas is at an all time high. This is due to the growing pressure for businesses to comply with new and existing European, US and international directives and legislation.

Developed in collaboration with FINRA and having the strong support of the investment banking community, this degree covers a wide range of European, US and international issues. It focuses on building expertise in the regulation and compliance of the capital markets through dedicated practical courses in both those subjects and the economic functioning of markets and instruments, market mechanics and dealing knowledge.

The degree is ideal for:

* Recent university graduates from a wide range of disciplines
* People working in the industry that would like to specialise in this fast expanding area
* Market professionals seeking to enhance their knowledge and skills in regulation and compliance.
* The regulation and compliance courses can be combined with quantitative courses or with non-quantitative courses, making the degree suitable for all of law, economics, accountancy and other graduates.

Professional Development

Students who successfully complete this degree including the module International Securities Markets will be granted the ICMA International Fixed Income and Derivatives (IFID) Certificate.

 

London Financial Academy Courses

http://www.londonmet.ac.uk/lfa/regulation/$-courses.cfm?cat=REG&subj=REG

Regulation and Compliance
The Financial Services Authority’s Regulatory Regime
ONE DAY 9.30-17.00 £175

The shadow of the FSA looms large over virtually every aspect of UK financial services in general & the City of London in particular. The objective of this course is to provide a broad overview of how the FSA operates and more importantly, how it expects the regulated community to respond…

The Regulation of Securities Markets and Firms
ONE DAY 9.30-17.00 £350
The impact of regulation on securities markets and firms has grown significantly in recent years. London remains the global hub of securities trading. The objective of this course is to analyse the key issues that such activity poses for regulators and how those regulators have responded, as well as how the Compliance function should manage the regulatory risks arising from Securities…

The Regulation of Banks and Banking Products
ONE DAY 9.30-17.00 £350
The impact of regulation on banking has grown significantly in recent years. Today’s bankers need to traverse a complex minefield of UK regulation by the Financial Services Authority, the Office of Fair Trading (for consumer credit) & the Bank of England (for sanctions). In addition, they need to be aware of European & US regulation where USD or cross-border services into other Member States are involved. The objective of this course is to set out what every banking executive needs to know about…

FSA Training and Competence for Managers
ONE DAY 9.30-17.00 £375
This workshop looks at the training design concepts that should underpin your T&C arrangements and what the FSA expect of an effective T&C scheme…

FSA Systems and Control Regime
HALF DAY 9.30-12.30 £225
This half-day workshop provides an opportunity to understand the implications of the FSA’s high level Systems and Controls regime on firms and how this is reviewed by the ARROW risk assessment process. The contents of this workshop will be modified to reflect FSA’s systems and controls proposals in the light of MiFID…

FSA Approved Persons
HALF DAY 14.00-17.00 £225
This half-day workshop provides an opportunity for individuals in Controlled Functions to understand their personal responsibilities under FSA’s Approved Persons regime and to explore the actions they need to take to meet regulatory expectations…

Treating Customers Fairly and Business Ethics
HALF DAY 14.00-17.00 £175
This half-day practical workshop looks at Treating Customers Fairly, one of the FSA’s most important current initiatives, yet one that has caused some confusion across regulated firms. TCF requires a different way of looking at compliance. It is not meant to be an extra layer of prescription. Senior management and staff at all levels should be asking not just ‘Is this legal?’ but also ‘Is this fair?’…

Improving Customer Experiences of Financial Services
HALF DAY 14.00-17.00 £155
This half-day practical workshop looks at how the financial services industry is waking up to increasing customer expectations of their industry, and how companies are developing strategies to deliver better customer experiences. The workshop looks at key points in the customer relationship, from point of sale to complaints handing, and looks at the growing influence of FSA’s Treating Customers Fairly. This practical review of strategy will consider whether customers are really the new battleground for competition, and asks what strategies will build sustainable success…

FSA Training and Competence in Practice
HALF DAY 14.00-17.00 £155
This half-day practical workshop looks at how to interpret the FSA Training and Competence (T&C) scheme in your firm, delivered by the author of the FSA rules and requirements…

Anti-Money Laundering, Terrorist Financing & Sanctions
ONE DAY 9.30-17.00 £375
The fight against crime, terrorism & sanctioned persons/entities is being constantly stepped up in the face of growing threats from organised crime, gun crime, terrorism & corruption, both at home & abroad. The landscape is constantly changing and there either has recently been or will shortly be changes to be each of PoCA, the Terrorist Act, the Money Laundering Regulations, the FSA’s Money Laundering Handbook & the JMLSG Guidance Notes. This plethora of change is likely to reinforce the unhelpful, yet common tendency to focus principally on procedures & collecting identity documentation rather than designing and implementing an effective & proportionate risk-based response, which will withstand scrutiny by any party. This course will help attendees retain a focus on this latter objective…

 

Securities and Investment Institute (London)

http://www.sii.org.uk

Diploma in Investment Compliance

Aims of the Diploma in Investment Compliance

The aims of the Diploma in Investment Compliance are:

Module 1 – Introduction to Securities & Investment

To provide candidates’ with an understanding of the role of the financial services industry in the UK economy, the regulatory background to the industry, the principle institutions and the financial instruments, asset classes and investment vehicles.

Module 2 – FSA Financial Regulation/ Principles of Financial Regulation

To provide candidates with a knowledge of the regulations governing the financial markets and the conduct of business, together with an understanding of the legislation which underpins the regulations. The Module covers the Financial Services and Markets Act, the FSA Conduct of Business Rules, legislation and regulation covering, insider dealing, market abuse and money laundering.

Module 3 – Regulation and Compliance

To provide candidates with an understanding of the legal, regulatory and ethical framework of the UK financial services industry. The Module covers the FSA handbook of rules and guidance, the regulatory framework surrounding the disclosure of substantial holdings of shares, takeovers, insider dealing, money laundering and the regulation of markets and exchanges.

http://www.sii.org.uk/web5/infopool.nsf/HTML/qcomp

FSA Financial Regulation (Certificates)

The aim of the examination is to ensure candidates have an understanding of the regulations and legislation that underpin the financial markets and the conduct of investment business. On completion of the unit candidates will be familiar with the regulatory environment in which the UK securities industry operates; know the relevance of the Financial Services and Markets Act 2000 and associated legislation and regulations; understand FSA’s Conduct of Business Rules and know the complaints and redress procedures.

http://www.sii.org.uk/web5/infopool.nsf/HTML/qcertsfin5

Principles of Financial Regulation – Unit 7 of the Investment Administration Qualification

The aim of the examination is to ensure candidates have an understanding of the regulations and legislation that underpin the financial markets and the conduct of investment business more appropriate to the wholesale sector. On completion of the unit, candidates will: be familiar with the regulatory environment in which the UK securities industry operates, know the relevance of the Financial Services and Markets Act 2000 and associated regulations, and understand the FSA’s Conduct of Business Rules that are relevant to wholesale investment.

http://www.sii.org.uk/web5/infopool.nsf/HTML/qIAQ

Principles of Financial Regulation (Certificates)

The aim of the examination is to ensure candidates have an understanding of the regulations and legislation that underpin the financial markets and the conduct of investment business more appropriate to the wholesale sector. On completion of the unit, candidates will: be familiar with the regulatory environment in which the UK securities industry operates, know the relevance of the Financial Services and Markets Act 2000 and associated regulations, and understand the FSA’s Conduct of Business Rules that are relevant to wholesale investment.

http://www.sii.org.uk/web5/infopool.nsf/HTML/qpfrsyll

Regulation & Compliance

Covers the regulatory framework of the financial services industry, including participants’ legal and ethical constraints, principles and policy. Appropriate for candidates specialising in Compliance as well as those requiring knowledge of the subject beyond the minimum regulatory requirements.

http://www.sii.org.uk/web5/infopool.nsf/HTML/qdipregcomp

United Arab Emirates Financial Rules & Regulations

SII has developed the United Arab Emirates Financial Rules & Regulations exam in collaboration with UAE Securities & Commodities Authority. The objective of the examination is to ensure candidates have a basic knowledge of the regulations and legislation underpinning the financial markets and the conduct of investment business in the United Arab Emirates. This regulatory paper can be used as one of the units in the International Investment Administration Qualification (IAQ™) and the SII Certificate programme.

Certificate Programme Assessment Structure:

Candidates can choose several routes to achieve an SII Certificate by combining the UAE Financial Rules & Regulations exam with a technical unit.

UAE Financial Rules & Regulations

(1 hours, 50 questions)

combined with one of:

Unit 2 – Securities

(2 hours, 100 questions )

OR

Unit 3 – Derivatives

(2 hours, 100 questions )

Unit 5 – International Investment Management

(2 hour, 100 questions)

IAQ™ Assessment Structure:

The recommended route to obtaining the International IAQ is as follows:

International Introduction to Investment + UAE Financial Rules & Regulations + IAQ Technical Unit

Foundation units:

1. Introduction to Securities & Investment
2. International Introduction to Securities & Investment

Candidates choosing either the International Introduction to Securities & Investment or the Introduction to Securities & Investment unit will achieve the International IAQ™.

Regulatory units:

UAE Financial Rules & Regulations

Internationally focused technical units:

* Asset Servicing
* Exchange-Traded Derivatives Administration
* Global Securities Operations
* IT in Investment Operations
* Operational Risk
* Over-The-Counter Derivatives Administration

UK Regulatory units:

* FSA Financial Regulation
* Principles of Financial Regulation

UK focused technical units:

* Collective Investment Schemes Administration
* CREST Settlement
* Private Client Administration

 

Compliance Job Interview Basics

Surprisingly (or unsurprisingly depending on your view of the world), it’s often the basics that let most people down. Our list isn’t exhaustive so if you can suggest any additions we would be glad to include them. Whether your interview is highly technical or a chance to get to know you, adhere to these basic rules:

Before the Interview

Do your research

If there is a company website you can explore, great. Even better speak to someone at the company. Perhaps someone in media relations is willing to point you in the right direction to get the most up-to-date info on their business. As always, nothing ventured, nothing gained.
Introducing yourself

Dress like a professional

Wear a simple, crisp suit and where possible avoid bright colours and lots of jewellery/accessories. We’re not saying you shouldn’t express your personality, but unless you are going for a job in fashion, looking professional is the most important aspect of your outfit.

Check your appearance in the mirror

Before you go into the interview room go to the toilet and make sure you look presentable. Another tip is to run your hands under the hot dryer for a minute to warm your hands. This will create a good impression when you shake your interviewer(s) hands for the first time.

Don’t eat strong foods before the interview

Skip the garlic bread. You don’t want to distract your interviewer with garlic breath when you are trying to make an important point.

Start with a firm, dry handshake

It’s SO important to give a confident handshake. Limp handshakes do nothing to inspire confidence in you. Bone-crushing handshakes are not that great either; they will make your interviewer feel threatened. Just try to get a happy medium. Practice beforehand with a friend if you are not sure how much pressure to apply.

And, please, make your first contact sincere. Look them in the eyes and smile. This shows you really want to be there. A handshake is not a formality; it’s an opportunity to sell yourself.

Sit only when asked

Don’t assume anything. Wait until you are asked. Let your interviewer be in control here. You have stepped into their environment.

Don’t fidget

Keep your hands on your lap and use them to gesture where you want to express yourself but don’t sit and fidget. No matter how nervous you are it’s very distracting to an interviewer to see a person fidgeting. It suggests you are nervous, which isn’t always a bad thing, but it can also display a lack of confidence when you speak.

Sit upright

It seems like an obvious point but it’s often overlooked. It’s good manners to be attentive in your appearance. A side note to this is to mirror your interviewer in their body language but we would suggest that you do this only when you feel ‘in the flow’. Mirroring body language can look strange especially if an interviewer notices you are doing it. We think its better to build a good rapport first, and to let natural mirroring occur.

Be nice to the receptionist/secretary

Gatekeepers such as Personal Secretaries and Receptionists are the first human contact with most companies. They are employed to filter information and enquiries, but they also hold a great deal of influence, particularly with more senior management. Be very nice to them, and be sincere with it. If you offend them with arrogance or dismiss their role in the process, rest assured the interviewer will know about it.

During the interview

Be prepared for the dreaded ‘Tell me about yourself’ question

- Start broadly – about positive personality traits
- Narrow down – link each positive personality trait to a task at work
- Make sure it all relates to the job you are going for

If you are interrupted and asked to give a more blow-by-blow account of your upbringing, then give this too, but again try to link it to something relevant about the job.

Do not ramble when answering this question. Make it 30 seconds long or less and if there is an indicator to continue then add another 30 seconds. It’s a poor question in our book, but is often asked when interviewers are looking to put you under pressure or to discover what you think are the most important aspects of your experience.

Use the S.T.A.R. technique to answer questions

This answering technique is often used in a competency-based interview. This type of interview has questions such as, ‘Can you give an example of a time when you performed to a high standard as a Compliance Monitoring Officer?’

Try to be specific.  Start with:

Situation – ‘When I joined my previous/current company we had missed X number of suspicious transactions over Y period…’
Task – ‘I was asked by the Head of Monitoring to…’
Action – ‘I sought the help of X individual/department…’
Result – ‘As a result we increased our capturing of suspicious transactions by Z%’

This answer format works well because it covers off the main questions an interviewer might have in their mind when asking you a specific question. Also, if your mind goes blank it’s a very effective technique to use.

Engage with the interviewer

Try not to make the interview a simple one-way process. Ask questions that show you are listening. If the interviewer asks a question you don’t quite follow, engage their interest by asking them to elaborate.

Answer the questions

Listen carefully. Really listen to the question being asked. Take a moment to digest it and give your best answer without skirting around difficult issues. If the question is closed and has only a yes or no response then from the outset state yes or no. Once answered you can go on to explain the reason behind your answer. Interviewee’s can often get too nervous about explaining themselves and as a result, they divert down several possible answers only to return to the question with a puzzled interviewer sitting opposite. Put your stake in the ground and stand firm on your answers by making your case clearly in as few words as possible. It is this considered confidence that will convince an interviewer of your abilities. You can always elaborate if asked.

Make the answers relevant to the interviewer

When you answer each question the interviewer has criteria in their mind that they need answered. Often this is two-fold. How easily can you come into their business and begin to make a positive difference? And, how well will you fit in or enhance any existing team?

Bear these criteria in mind when giving your answers. If you discuss yourself too much, you are not doing a great job of selling yourself. Try to create a consultative interview where you are viewing questions and answers from both sides. People like it when you understand their point of view, it makes them much more likely to get along with you, even if your views differ.

Be positive about former employers and colleagues

Everyone will have both positive and negative things to say about previous colleagues, bosses and companies. It’s natural. However, unless pressed on the subject, avoid it. It doesn’t create a good impression of your character.

Importantly, be professional but try not to hide your true self

Be polite, be confident, answer well but do not hide your real personality. If you are particularly keen to get a compliance job make sure you know it is right for you. The very nature of compliance work attracts stable, intelligent individuals. A CV showing multiple positions in a short space of time suggests you either created a different persona at interview (later revealing that you are a bad fit culturally for the company), you made poor career choices or, indeed, the interviewer mis-sold the job in each case. If you have moved on from each previous job quickly then it would suggest that you are great at interview but quickly realise that you made a poor choice once employed. By displaying your true self (to a reasonable extent) the interviewer is better informed and you will be able to create a stronger rapport with them. Hopefully, this stronger rapport will lead to the right job. Bringing out your personality will work in your favour when learning about the job and in determining whether or not it is suitable for you. It also helps the interviewer to answer in their own mind whether or not you are the right fit for them.

We may have rambled around the original point here, so to summarise: show some of your personality at the interview in order to get a better picture of whether or not this is the right company for you. Your cultural/personality fit is very important for you and for them

At the end of the interview

Have some excellent questions to ask

Show the true extent of your research. Pose a question related to a recent piece of news about the company. It is a cardinal sin to have nothing prepared here. If you have no questions to ask, then your chances of being offered a 2nd interview or the job are very slim. No questions suggest a total lack of interest in the company and job.

Try to avoid questions that relate to how much you get from the job. This part of the interview is an opportunity to further demonstrate your knowledge of the company and to get to know the interviewer a little better. If the interviewer is going to be your boss then it would be a good idea to ask some questions that will give you an insight into them. Steer clear of anything offensive. We anecdotally heard of a compliance manager going to interview and asking two main questions at the end, ‘When do pay rises occur each year?’ and ‘How much do you get paid in your position?’ (referring to the Head of Compliance). Needless to say they didn’t get the job.

A good question to ask would be ‘What does this company value the most and how do you think my work for you will further these values?’

This is an open invitation for the interviewer to tell you what you have done well in the interview. Importantly the next section follows on well from this.

CLOSE

At the end of any questions you have there are two very important questions that will help you to reinforce your position as the best candidate for the job: ‘Based on what we have discussed today, is there anything that you feel I haven’t covered in enough depth?’ Some interviewers will say ‘no’ to this as they have all the information they want, but others will use this as an opportunity to quiz you on anything you haven’t answered properly for them.

Once you have covered over anything, make sure you ask: ‘What would be the next steps?’ This is a very assumptive question because it indicates that you are interested in the job and that you have a chance of getting it. You will be able to gauge from their answer how well you have done. If the answer is very short, such as ‘We’ll be in touch’, then we would suggest that it hasn’t gone your way. If the answer is more elaborate then perhaps you have a better chance of getting the job. The important point to remember is you are bringing the interview to a close and in doing this you are displaying an interest in moving things forward.

Send a thank you note (in the post!)

This is a tricky one because you don’t want to look desperate but equally, if done well, it displays a kindness and generosity that can differentiate you from other candidates. Don’t send an email, because it is often lost in the multitude of info that most hiring managers/interviewers receive. Make it short and keep it professional. In an age of technological overkill a short note dropped in the post says a lot about your desire for the job and further enhances the positive image you have created at interview.

Best of luck

 

Answers To Tough Interview Questions

In this short article we will offer an outline of how you should answer the more vague and challenging questions the hiring manager can throw at you. These questions and answers are not specifically aimed at the compliance sector but we’re sure you can relate them to your specific experience.

Here is a classic for ten points:

- Tell me about yourself?
This is not a throw away question. You need to give a good answer here because usually this question is asked at the start of an interview and if you stumble on it, you have set yourself up in a negative light from the very start. The interviewer wants you to run through your experience to-date starting with your first job in the industry and running through to your most recent job. The answer should relate to their business or the specific job on offer. You only need to talk for about 2 minutes at most on this. Don’t talk about your personal life unless asked.

- What is your most memorable achievement?
Relate the answer to the job and make it specific using numbers. E.g. Increase X by 5% over a Y month period by reducing Z. Whatever you do, don’t waffle; you have been given the opportunity to shine so make your answer punchy and relevant. Don’t blurt it out straight away, leave a pause to consider your answer and then deliver it in one or two sentences including specifics such as numbers and dates.

- Where do you see yourself in 3/5/10 years time?
Avoid threatening the interviewer by saying ‘In your job’, try to be general such as, ‘given hard work, I’d like to be managing a team and perhaps working on projects such as X.’ Those projects should relate to the hot topics as you see them in compliance. This is good because it shows you have vision and perhaps a good idea of where the compliance profession is heading.

- What is your greatest strength?
You need to have this one covered. It’s a tough question. Deflect the potential of sounding arrogant by saying, ‘colleagues have described me as…’ It would be quite good to ask friends and family the answer to this one to get a personal strength, then ask colleagues to see if their answer chimes with your professional strengths too. Above all remain humble.

- What is your greatest weakness?
Again, such a tough question. Don’t answer ‘caring too much’ or ‘sacrificing too much’ these just sound like cop-outs. You need to display an actual weakness here so don’t turn the weakness into a positive either. Again friends and family can help. The key is to give an answer that won’t make you appear too weak but will give the interviewer some honesty. Something like, ‘sometimes when I focus on a project I can forget to take a step back and
look at the project objectively’. I know it sounds like a masked cop-out but if your wording is clear and non-emotional you will give the answer the right tone.

- Why should I hire you?
This is the booby prize of questions, but it can be used to your advantage. It’s often asked last, so you should have some material that you can use, primarily about the interviewers description of the job. Start by re-iterating what you think the interviewer is looking for in the right candidate, then cover each of those points and relate them directly to your experience in the past and present. Continue by mentioning any shared values you have with the company or the type of work they do and close it by declaring your interest in the job again. This is a tried-and-tested answer format for that question.

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We hope these tough questions and their answers have helped you somewhat. If you prepare for these types of questions then you will find the interview has a good flow. If you don’t prepare and your answers sound woolly, then you will stumble through the interview and will likely create a poor impression of yourself.

Above all remember this sage advice:
If you do receive a tough question you haven’t prepared for then don’t be afraid to ask a question back to clarify what they want to know specifically. This will buy you some time and make sure your answers are relevant in the interviewers mind.

Best of luck.

 
 
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