Hello there, my name is Richard McMunn from the interview training company PassMyInterview.com,
and in this training tutorial I am going to teach you how to pass a Compliance Officer
or Compliance Manager interview. Now, it does not matter which organization you have your
interview with, please do make sure you watch this tutorial from beginning to end, because
I promise you it's going to make a huge difference to your performance at the interview. I am
going to run through a number of common compliance officer and manager interview questions; I’ll
give you some tips for answering them, and more importantly, I will give you top-scoring
answers! Now, before I get into the tutorial, just quickly… a very warm welcome. My name
is Richard McMunn. I've been helping people to pass their interviews for about 20 years
now through this YouTube channel. We have about 200,000 subscribers now, and many of
you are passing your interviews! So, on that basis, please do make sure you SUBSCRIBE by
clicking the button below the video, and then you won't miss out on any of the weekly interview
training videos I am uploading. Also, I would very, very much appreciate your support if
you gave the video a LIKE (thanks)… that always tells me that you enjoy the content
and therefore I will create more for you. Thank you very much indeed. OK. Let's get
into the Compliance Officer and Compliance Manager interview questions and answers. My
advice is to take notes as I progress. The first interview question that we need to prepare
for is: tell us about yourself why you want to work in compliance? Now, the ’tell me
about yourself’ interview question is pretty much guaranteed to be the first question that
will come up. So we need to give them a rock solid answer that demonstrates you are the
person they should be hiring within the compliance officer or manager role. Here is my suggested
answer. “I have always held a strong passion for working in compliance, and the natural
skills and qualities I have are a good match for the position. I simply cannot see myself
working in any other sector. I am somebody who is strategically focused and I would always
protect you, as my employer, by ensuring your policies and procedures are compliant with
the relevant industry regulations. I am a highly analytical person and somebody who
exerts an appropriate level of control over my responsibilities as a compliance officer/manager.
If I am successful at interview today, I will look to quickly create and maintain a culture
within the organization that accepts compliance and regular audits as standard. I will also
work very closely with you, the senior management team, to help you achieve your commercial
objectives.” What I particularly like about that response to that interview question,
is that you are saying at the end that you are going to ‘work closely with the senior
management team to help them achieve their objectives.’ So, in regard to compliance,
you are going to do a really good job; you're going to make sure the organization meets
its needs, but also you are going to work alongside the senior management team and I
believe that's very important. The second interview question that I want you to prepare
for is: why do you want to work for our organization as a compliance officer or manager? So, why
do you want to work for our organization? And again, I can pretty much guarantee this
interview question will feature at some stage during your compliance interview. Here is
my suggested answer. “I genuinely believe you can only work for a company as a compliance
officer or manager if the top level tier of management take compliance seriously. During
my research into your company, it quickly became apparent that you do take your compliance
responsibilities very seriously. I feel you will support me in my role, and I will be
able to perform my duties to the high standards necessary. I have also been attracted to your
company because of the quality services you provide, and also your desire to continually
improve and develop. Finally, having read your company mission statement, I would actually
feel very proud to work for you, and to have your company name on my resume/CV.” That
is a great answer to the interview question. why do you want to work for all organization
as a compliance officer? Because it shows that you have thought carefully about why
you want to work for them. And also, that subtly demonstrates that you have very, very
high standards in regard to compliance. So, the next interview question I want to prepare
for is: what would you do in the first 30 days of starting as our compliance manager
or compliance officer? What would you do in the first 30 days of starting? A lot of people
at the interview will sit there, and they will have a little think about what they would
do, and then give a response based on the things that they believe they would do. However,
you are going to be different! You are going to have a plan in place already of what you
would do within the first month of starting as a compliance manager or officer. Here is
my suggested answer to this compliance interview question. “The very first thing I would
do is to obtain a clear and thorough brief from you, the senior management team, to ascertain
how the work I will carry out as the Compliance Manager, is in line with your strategic mission.
It would be very important for me to work with you, and not against you. I would then
look to get to know my compliance team, the people I am working with, and also other key
members and managers of the organization. Cross functionality and inter-departmental
working is vital if compliance is to be successful within an organization. Also, during the initial
30-day period, I would look, listen, observe, and then put a plan in place based on what
I had learned to ensure compliance audits and the necessary actions were implemented
and maintained to ensure we meet our compliance and regulatory responsibilities.” What I
particularly like about that answer is that you have pre-thought what you are going to
do within the first 30 days. I like the fact that you are going to look, you're going to
listen and observe, and then put a plan in place after you've seen what you need to see.
But most importantly, you are saying that line… ‘it will be very important for you
to work with them and not against them.’ I believe that's very important. I hope you
are enjoying this. I've got plenty of questions to run through. Please don't forget to SUBSCRIBE.
I do appreciate your support. And also, please don't forget to give the video a LIKE. Thank
you very much. So, the next interview question for your compliance interview I want you to
prepare for is: Describe a situation when something didn't go to plan and how you dealt
with it? This is a common compliance interview question and it is assessing your resilience,
your determination, also your positivity to resolve things and to also use an analytical
approach to problem solving. Because let's face it, things don't always go right, but
you'll be responsible for sorting them out. Here is my answer to the interview question,
describe a situation when something didn't go to plan and how you dealt with it? “I
can specifically remember working in a previous role where something didn’t go to plan,
and I could tell it was going to happen. I was a new member of the team and we were all
working on a project for an important client. I felt the initial team brief and plan of
action created by the manager was inadequate, and it lacked clarity and purpose. However,
I didn’t feel confident enough at the time to put my hand up to express my concerns.
As the weeks went by, the plan started to fall apart, and in the end, the client abandoned
the project and we lost the contract. During the team debrief that followed, I made a suggestion
that for all future projects, we should follow a project SWOT analysis to identify the project
Strengths, our Weaknesses, the Opportunities and also the Threats that were present that
could potentially hinder our ability to successfully deliver the project as a team. My suggestion
was taken onboard and all future projects, as a result, were more successful. Following
this experience, I decided to get into compliance work because of my ability to see things clearly,
and also my understanding of how important clarity of communication is, within any organization.”
That answer is structured using what is called the STAR technique: situation, task, action,
result, and you are essentially telling the interview panel a story, a situation that
you were in. So you explain the SITUATION, the TASK that needed to be done, the ACTION
you took, and then the end RESULT. Always make sure the result is POSITIVE, following
your actions. So, that is a great answer to the interview question: Describe a situation
when something didn't go to plan and how you dealt with it? Next question. What's your
biggest weakness? Now, I have flagged this in red because it is, in my opinion, one of
the toughest interview questions to answer. It comes up all of the time. However, there
is a danger that some people will give a weakness that is a match for the job description for
the role that they are applying for. So we want to avoid that at all costs. Here is my
suggested answer that will do you no harm whatsoever. “I would say my biggest weakness
is I don’t like to ask for help or advice if I ever get stuck with a work task or project.
Obviously, it would be easier and quicker if I did ask for guidance, but I do generally
like to figure things out for myself. Having said that, I am someone who likes to continually
develop and improve, and I have been trying to ask for advice when I need it to complete
important tasks or projects. Although I would like to feel I am highly competent in my work,
there are always people you can learn from within an organization, and I do need to be
more open to that in the future.” That is a really good answer to the what is your biggest
weakness interview question for compliance roles. Next interview question that I want
you to prepare for is: Why should we hire you as our compliance officer or compliance
manager? And this is sometimes posed as: What makes you the standout candidate? We want
to give them a brilliant, positive, solid answer to this compliance interview question.
And here it is. “I believe you should hire me because, based on my past experiences,
the skills I possess and my ability to work collaboratively with other people within the
organization, I am the best person for this compliance role. I am ambitious, totally focused
on helping my employer grow, and I am always entirely professional in the compliance work
I carry out. If you hire me as your Compliance Officer/Manager, I believe you will be impressed
with my strong work ethic, my values and my commitment to your company mission and vision.”
So, another great answer! Now, if you would like to download my Manager Interview Questions
and Answers guide in PDF format. You can have it within your inbox in 2 minutes from now.
Click the link in the top-right hand corner of the video or go through to my website.
PassMyInterview.com. I hope you've enjoyed that compliance interview training tutorial?
My advice is to watch it again. Take notes as you go along. If you have any questions,
please put them in the comments section below. As I said at the beginning and during the
middle of the video, I would very much appreciate it if he gave the video a LIKE and also SUBSCRIBE
to the channel. Thank you very much indeed. Please let me know your success stories. And
yeah, I wish you all the very best genuinely to pass your compliance officer or manager
interview. Have a brilliant day. Thank you very much.