Hi there, my name is Richard McMunn from the interview training company, PassMyInterview.com.
And in this tutorial, I'm going to teach you how to pass a Compliance Officer interview.
Now, it does not matter which organization or company you have your Compliance Officer
interview with, please make sure you stay tuned, watch this tutorial fully from beginning
to end, because I promise to help make you the STANDOUT CANDIDATE. And to achieve that
goal, this is what I will cover. I'm going to give you a list of common Compliance Officer
interview questions that I strongly recommend you prepare for. I will give you great SAMPLE
ANSWERS to those questions to help you be the standout candidate and also succeed. I
will tell you the QUALITIES that you really must demonstrate throughout your Compliance
Officer interview. And I will also tell you about FURTHER RESOURCES you can get access
to, including these slides to help you succeed. So, 4 very strong reasons why you should stay
tuned and watch this presentation from beginning to end. Now, just very quickly, before I get
into the Compliance Officer Interview Questions and TOP-SCORING answers, a very warm welcome
to this presentation. My name is Richard McMunn. That is me there in the center of the screen.
I've been helping people for over 20 years now to successfully pass their job interviews,
and I always do that by giving you TOP SCORING ANSWERS you cannot find anywhere else! On
that basis, please make sure you HIT THE RED SUBSCRIBE BUTTON! Pease subscribe to the channel
so you don't miss out on any of the training videos that I upload. You can also connect
with me on LinkedIn.com if you would like to… please hit the LinkedIn.com link in
the description below the video and it will take you through to my LinkedIn page where
we can connect with each other. And also please do GIVE THE VIDEO A LIKE because by liking
the video that tells me you enjoy the content, I will then create more content for you. Thank
you very much! OK. Let's get into the compliance officer interview questions and the top-scoring
answers. And the first question I want you to prepare for is: Tell me about yourself
and why you want to be a compliance officer? So, this is going to be the first question
that they ask you during your compliance officer interview. Therefore, please make sure you
give an answer that demonstrates the qualities and experience you have that will add value
to their organization. So here's a brilliant answer to help you. “Over the years I have
been careful to make sure I build up the necessary skills and experience to perform highly as
a Compliance Officer. As each year goes by, I reflect on my performance to see how I am
progressing. By taking this approach, I am somebody who can bring significant value to
your organization by ensuring you operate within the regulatory boundaries of the industry.
I am an excellent communicator, I have exemplary attention to detail skills, I am a very fast
worker and I can be relied upon to work with you, not against you. I have lots of experience
working in compliance and my knowledge of risk assessment, the relevant regulatory requirements
we need to operate under, and my knowledge of potential threats to a business are second
to none. In short, my strong work ethics, my ability to report back to you on business
functions based around current risk and compliance performance, will enable your business to
continually grow and develop at a fast pace.” Now, that is a very strong answer. It is confident
in nature. It shows that you are serious about the role and most importantly, it goes into
detail about how you can ADD VALUE to their organization as a Compliance Officer. You
can either pause this video if you want to, and take a note of the questions and answers
as I progress through them, or if you want to wait, I will tell you why you can download
my full set of 20 Compliance Officer interview questions and TOP SCORING ANSWERS, including
the ones we are working through together today on this presentation. And the next question
I want you to prepare for is: Why do you want to work for our company as a Compliance Officer?
Now, I can guarantee this question will come up during your compliance officer interview.
Make sure you give POSITIVE REASONS that demonstrate you want to stay working for them for a prolonged
period of time. So how do you do that? Here's a great answer to help you. “With any role
in compliance, I believe it is vital you choose your employer carefully. If you don’t, you
will not get supported and you may not last that long in the position. Prior to applying
for this Compliance Officer role, I spent a considerable amount of time researching
your background, your values and also the work you carry out within the sector. There
wasn’t one thing I saw that deterred me from applying. You set high standards, you
have a great team of people and you also want to do things to a high standard, which will
all serve to help me perform my own duties as a Compliance Officer competently and robustly.
I feel this is somewhere I will enjoy working based on the people I will be working alongside
and also the strong Senior Management Team that is in place.” Now, what I particularly
like about that answer is you are not just giving one reason why you want to work for
their company, which is what virtually all of the other candidates will do. However,
you are giving a number of reasons and you are demonstrating that you have conducted
your research into the organization before applying, which is very important. The next
Compliance Officer interview question I want you to prepare for is: What skills and qualities
are needed to excel within compliance? Now my advice is to LIST THE EXACT SKILLS and
qualities you have that will enable you to carry out your responsibilities as a compliance
officer diligently and professionally. So, again, here's a top scoring answer to help
you. “There are many different qualities needed. However, the ones that are more prevalent
and the ones I would utilize the most whilst working here include, a thorough UNDERSTANDING
OF THE RISK ASSESSMENT process, high levels of INTEGRITY, making sure you KEEP YOUR COMPLIANCE
KNOWLEDGE UPDATED, and also an ability to COMMUNICATE EFFECTIVELY both in writing and
verbally. You also need ANALYTICAL AND PROBLEM-SOLVING SKILLS, be capable of INTERPRETING DATA carefully
and concisely, be able to RESPOND TO CONFLICT and deal with it professionally, and finally,
possess high levels of STRATEGIC AND COMMERCIAL AWARENESS.” I've highlighted all of the
different skills and qualities that are really important as a compliance officer. Now, please
don't go anywhere because I still have more really important compliance officer interview
questions to work through with you, and the answers. However, when you're ready, if you
CLICK THAT LINK in the top right-hand corner of the video, it takes you through to my website,
PassMyInterview.com, where you can DOWNLOAD my full set of 20 Compliance Officer Interview
Questions and TOP SCORING ANSWERS, including the ones I'm working through with you right
now. The next question: What is the difference between a compliance risk assessment and a
standard organizational risk assessment? So this is quite a difficult question to answer.
As you know, risk assessments are a major component of compliance-based roles. Therefore,
make sure you have a thorough understanding of what they are and how they are created.
Here's my suggested answer. “Many large organizations conduct risk assessments to
identify issues or threats that would prevent the company from achieving its strategic objectives.
Examples of these include enterprise risk assessments, safety risk assessments and also
an internal audit assessment, which is usually used to develop an internal auditing plan
for a business. However, a compliance risk assessment is created to identify potential
legal or regulatory risks and therefore, in my opinion, carries more weight. This is based
on the fact that the threat to an organization from a financial or brand reputation perspective
is significant.” That shows that you are confident in your understanding of compliance
risk assessment vs. a standard organized organizational one. And then there may be other risk assessment
questions to answer within your compliance officer interview, such as this one. In your
opinion, what makes a brilliant compliance risk assessment? Now, my advice is to use
the following ten-step process for creating a first class compliance risk assessment.
So here's a brilliant answer to show the interview that you really are the STANDOUT CANDIDATE
and you know your information and you have the right knowledge to conduct World-Class
compliance risk assessments. “Whenever I create a compliance risk assessment I focus
on 10 different elements. First of all, I ASSESS AND DETERMINE THE OBJECTIVE of the
risk assessment – it’s important to have a clear goal of what the risk assessment needs
to achieve. I then consider WHAT WORK HAS ALREADY BEEN CARRIED OUT previously – the
last thing we need to do is reinvent the wheel. I will then GATHER INFORMATION FROM A WIDE
RANGE OF SOURCES, including people from across the organization who have the expertise, knowledge
and know-how to assist. I will then IDENTIFY THE RISKS and determine WHO SHOULD TAKE OWNERSHIP
of the risk elements. At this stage I will always focus on COMPLETE TRANSPARENCY. Next,
I make sure the risk assessment is ACTIONABLE. Without action, the objective of the risk
assessment cannot be achieved. Whenever I create the risk assessment I always make sure
it is READABLE AND UNDERSTANDABLE. This is achieved by using simple, plain English that
everyone who needs to use the document will understand. Finally, I would ensure THE INFORMATION
AND DATA LEVERAGED FROM THE RISK ASSESSMENT IS ACTUALLY USED before carrying out PERIODIC
REVIEWS of the risk assessment to ensure it is still current, applicable and up-to-date.”
That answer has to be in-depth to that interview question… What makes a brilliant compliance
risk assessment? All of those different elements, the 10 elements, will help you create a rock
solid compliance risk assessment. Now, obviously, because there's a lot to take down there,
my advice is to CLICK THAT LINK in the top right-hand corner of the video where you can
go through to my website, PassMyInterview.com, and download all of the 5 interview questions
and answers that I've worked through with you today. Also, another 15 that I recommend
you prepare for! Go through to that page, have a look at the tips as well that I have
put on there, because they will make a difference to your performance at the interview. I hope
you've enjoyed that! Please don't forget to SUBSCRIBE. Connect with me on LinkedIn. And
also, PLEASE HIT THE LIKE BUTTON - that tells me you enjoy the content and I know it's worthwhile
me creating it for you. Thank you very much for watching. And I wish you all the best
for passing your compliance officer interview. Have a brilliant day.