Top Five Interview Questions for Compliance Officers

Compliance is an area that financial institutions are still actively looking to expand due to the abundant laws and regulations. As demand for Compliance Officers in the job market has increased, some hiring managers have become interviewing experts, so it is important for you to prepare to ensure you succeed during your next interview. The following are some commonly asked questions and advice for Compliance Officers during an interview.

1) What do you think are some of the compliance issues facing our company?
You will need to provide examples of key compliance and ethical challenges in the last six to 12 months. It is important to share with the interviewer how you stay current on government regulations and how well you apply corporate policies and industry code within the firm.

2) What are some of the weaknesses in your company’s compliance program?
This is not a trick question so always be prepared to answer this. You should give examples of the flaws and gaps you have identified in the last 12 months and how you have played a key role in creating a robust compliance program. This includes taking appropriate steps to ensure laws, rules and regulations are complied with. This is also an opportunity to describe your personal contributions and accomplishments.

3) How would you respond to a request by a senior executive that might violate the compliance policies?
The purpose of this question is to assess your ethical tone, influencing and resilience skills. They will also be able to gain an insight into how you handle stress and your ability to provide different strategies in various situations. It is important to describe your view, that all employees, regardless of grading, should be educated about the compliance risks to the organisation.

4) Describe a project you had to finish with limited resources. How were you able to overcome it?
In our recent salary surveys, eight out of ten hiring managers said their compliance departments are under staffed and they expect their team members to be proactive, not reactive. You should provide specific examples of how effective you are with limited resources. Remember to stay enthusiastic and positive while talking about this project.

5) If we were to make you an offer, what contributions can you bring to our team?
Always do some research on the company? You need to understand the type of risks they are facing at the moment and how you can become a key part of their compliance department. Describe how your education, experience and skills match the job description. This is also an opportunity to describe yourself as a person outside of work. At the end of the day, an effective compliance team is made up of individuals with the right professional, educational and interpersonal skills.

"Preparation is key to excel during an interview. Have a few facts about the potential employer to use as discussion points. Review their company website, their LinkedIn page and do a Google search on the company. Your recruiter is also an invaluable source for more e information about the role and the hiring manager’s interview and work styles."