The compliance officer is nowadays a most crucial part of the company. This officer helps the workers to work legally, in which every staff member should be working according to the Company’s code of conduct. These days it is difficult to get a corporation synchronized with the rules and regulations of local Government and labor laws. In many cases, we come across due to one or a group of undisciplined fellow worker’s mischief the whole Company has to pay for it. It is often due to a third party from which the company is taking help or dealing with something, which can also go off track—so having a Compliance officer who keeps track of everyone’s legal or illegal actions. To deal with the work mentioned above, a compliance officer must have a critical thinking ability; the officer should be fluent in English communication skills in written and verbal ways. This is a position of great responsibility, so anyone applying for it should be well aware of the position requirements. Let’s discuss Who is a Compliance Officer?. Also, lets see Compliance Officer Interview Questions.
Who is a Compliance Officer?
Whenever going to an interview, be prepared with the fundamentals regarding the job. You should feel what the job requires from you and know what mandatory skills are Required for a person who will fill the vacant position. Compliance officers take care of all rules and regulations and maintain the company’s lawful activities to appeal to norms strictly. Compliance officers take charge of the unlawful behavior of any worker. Compliance officers take responsibility for the legal action of the firm. These days the corporate world has started giving importance to the position of compliance officer.
Interview Questions
- Tell us about yourself and why you want to Work in Compliance?
It will be the first question of the interview, the first part of this question is very standard, and you should prepare well because Your first impression should be at a point of excellence so that you can get hired. Try to synchronize your qualities with the requirement of the position and give your brief and to-the-point description. Talk about your hobbies, likes, and dislikes. Other things which you pertain in you.
Let’s talk about the second part; why do you want to work in compliance? You should be clear about the skills required for the position, some of the qualities listed below.
- Higher Analytical Skills
- Management Skill
- Good Communication Skills should be of a very high level in both mediums, i.e., written and verbal.
- Honest
- Decision-Making and Problem-Solving Attitude
And tell them with honest answers that How you fulfill these skills. Give some actual instances from your previous experience. Never try to boast in front of interviewers about your qualities say something encouraging work of yours. Share your worst experience and how you managed it. ,
- What do you know about us?
This type of question is asked to check whether the applicant is interested or just applying for a job. Those who are interested will research the company about how it works? A little knowledge of the history of the firm and Management styles? You should be well aware that it will not only help you to crack interview but also it will help you to assimilate with the working culture of the Firm. Before getting hired you should be well prepared.
- How would you handle a request by a senior executive to violate a company’s code of conduct?
This question is basically to check how good you are in your communication skills. You should let the senior know what will happen if the law is not followed and let him know the circumstances will adversely affect the business, and the firm may have to pay for this unlawful act. This illegal act will also dissolve the company’s reputation. It would help if you were as polite as you can, but be strict also towards the rules and regulations of the firm. You should convey the message to the interviewer that rules are equal for a small worker and a senior executive. There will be a zero-tolerance policy in terms of rules and regulations. I would do whatever is required but in a polite way.
- Why should we hire you?
This question is regulations, the most common question is generally asked in every interview. The reason behind asking this question is typically how much you know about the Job because the answer should be relevant to the job requirement. The other reason is to find how many skills you have and what makes you differ from others. You will answer the question in a proper tone only if you were aware of the requirements of the position, synchronize your answer with the job description. This is the most common question asked by interviewers to check about your views regarding yourself. Whether you boast up about your qualities or you have real skills. They will definitely cross-check by asking some cross-question so be careful about your answer.
- Define compliance program.
A compliance program is designed to avoid any Corporate misconduct. In a Compliance program, every corporate member should Have to follow the rules and regulations made by the corporate to do business legally without violating any laws of the local government. The need for a compliance program is that If a third party doesn’t follow your code of conduct, you will have proof to show to your prosecutor. This is a fundamental question as it will give the idea to the interviewer about your knowledge. Hence it would help if you were more careful regarding the answer. In this answer, you can provide any real-life example from your experience. Let them know how you managed and worked in the previous firm. Give reason behind leaving the previous firm also as this will give proof of your honesty.
- Do you work for money?
These types of questions asked to have an idea about communication skills. If you say yes, it will show your enthusiasm. They make your image an immoral personality. On the other hand, if you say no, they will image a foolish man. So it would help if you were smart enough to tackle these types of questions. The answer may sound polite enough.
You can say that I didn’t work for money, but money is required for everyone to get their basic need fulfilled and didn’t struggle in life for their needs and can fulfill our parents’ and children’s needs as they are my responsibility. Not only this, as a proud citizen, but I am also taking part in donations as we, the sufficient ones, can help and raise poor people, so I think you might understand for whom I work!
- What do you see as your greatest challenge being a compliance manager? How do you deal with it when it arises?
As of now, you may Have understood the work of the Compliance Officer. Sometimes compliance officers have to show their Critical thinking abilities; this is what they want to get an idea of about your aptitude. So you have to be careful while answering this question involve your skills of problem-solving. You may have some experience of that problem, so mention that and how you tackle that situation. If you didn’t have such knowledge, you could say that “ It is difficult to handle a situation when our senior breaks the rules, it doesn’t mean only that the senior officer is creating issue but by seeing the senior’s indiscipline can lead to other co-workers may also be encouraged to create indiscipline, and this will start a chain so, it is necessary to suppress it very carefully and politely. There is an immediate need to resolve this problem before the chain gets too long, so the interviewers are also keen to see your initiative to tackle the issue quickly.
- Our compliance manager will have to work with people in other Departments. Can you give examples in which you had to work with people outside your department to solve a problem?
Here, the interviewers want to know about your versatility and see if you can deal with new people. Your managerial skills will also be checked here, so keep in mind. It will be beneficial if you give a real-life example from your previous experience. Many times interviews ask to provide an example from your experience. It would be great to have prepared some experience-based question answers. To work with another department, anyone will require some time, and so that can get an idea about the work and workers.
Note: Being a Compliance officer is required to have versatility, communication skills, and managerial skills, polite temperament while dealing with seniors, and creativeness, all necessary things. As this is among the most responsible post, so you should show your responsible nature. It would help if you were Confident enough In front of interviewers. Be careful regarding your facial expressions and go with complete preparation.
- How do you prioritize tasks?
This question is asked to have the idea about your managerial skills, how you tackle tasks, give a brief explanation in steps whatever your way suggests to you or you can follow the following solution.
- Make a to-do list
- Tasks are arranged in decreasing order of priority
- Then take a review regarding the list
- Amendment is made
- Completing the task one by one
This question is asked many times in different interviews to assess the time management qualities of the applicant. Be fluent while talking, try to not fumble while talking take your time to respond, and keep a smile on your face. Facial expressions also play an important role in cracking the interviews.
