Anyone a Head of Compliance, or similar? HELP!

[Hercules Rockerfeller]

A sneak peek at the interviewer.

"You have 20 seconds to comply!"

I've seen a picture of the bloke interviewing me and that ain't that disimilar!

 

[Hercules Rockerfeller]

You could start by suggesting that the firm needs to tighten up its recruitment procedures.

How many other appointments have they made of people who haven't got the faintest idea how to do the job that they are being paid for?

I will point this out. I got the interview through an agency. I actually tried to explain that I am looking for entry level jobs really. He was convinced I had what it takes and said he'd send my Cv off. I agreed, assuming the company would come back with a firm 'NO!', but they liked what they saw too.

Maybe I am under-selling myself.... I doubt it!

 

[Kylies Stunt Arse]

Another thing worth thinking about is that as head of compliance you will be expected to devise a monitoring programme that meets both the firm and the FSAs expectations when it comes to avoiding fraud, money laundering, TCF and mis-selling.

(I'm not head of compliance, but that is my current field)

 

[Hercules Rockerfeller]

Another thing worth thinking about is that as head of compliance you will be expected to devise a monitoring programme that meets both the firm and the FSAs expectations when it comes to avoiding fraud, money laundering, TCF and mis-selling.

(I'm not head of compliance, but that is my current field)

And that is the worrying thing, I haven't got the first clue where to even start to do that. I shall be glad when this is all over, but should be good experience!

 

[Kylies Stunt Arse]

And that is the worrying thing, I haven't got the first clue where to even start to do that. I shall be glad when this is all over, but should be good experience!

In reality there should already be a monitoring policy in place, so it would simply be a case of tweaking it to make it your own.

I think you should start by doing as much background research into the firm as you can, trawl the FSA website as well to find out if they have had any enforcement against them, and who/what is listed on the FSA register. Do checks on the ICO website to see what is held on there.

Monitoring would include things like:
Are breaches being reported and resolved within sufficient timescales?
Are transactions being executed at the correct times?
Are the correct client money rules being followed?
Are anti money laundering procedures up to date and being followed.

 

[Lord Bracknell]

In reality there should already be a monitoring policy in place, so it would simply be a case of tweaking it to make it your own.

I think you should start by doing as much background research into the firm as you can, trawl the FSA website as well to find out if they have had any enforcement against them, and who/what is listed on the FSA register. Do checks on the ICO website to see what is held on there.

Monitoring would include things like:
Are breaches being reported and resolved within sufficient timescales?
Are transactions being executed at the correct times?
Are the correct client money rules being followed?
Are anti money laundering procedures up to date and being followed.

... and if not, do they accept Paypal?

I'm asking this on behalf of a friend. Obviously.

 

[Freddie Goodwin.]

With most top jobs these days, they are more impressed with the size of your ego than the size of your brain. Bluff it aout, pile on the bull and look the part.

make out you know aht you're talking about andlook scornfully at anybody who looks as though they may have sussed you.

Imagine you're in with Alan Sugar & fighting for your job, don't go meekly. Also remember that guy at the BBC who was miked up as an 'expert' and put on air, if he can bluff it so can you.

Above all, you seem to have got this by default. You have nothing to lose so play it for laughs, in as much as afterwards you can go for a beer or 21 and tell us all about it. It'll be good experince so go make an impression. In this day & age you may yet get the job. Then you worry!

 

[Hercules Rockerfeller]

In reality there should already be a monitoring policy in place, so it would simply be a case of tweaking it to make it your own.

I think you should start by doing as much background research into the firm as you can, trawl the FSA website as well to find out if they have had any enforcement against them, and who/what is listed on the FSA register. Do checks on the ICO website to see what is held on there.

Monitoring would include things like:
Are breaches being reported and resolved within sufficient timescales?
Are transactions being executed at the correct times?
Are the correct client money rules being followed?
Are anti money laundering procedures up to date and being followed.

I think and hope you are right. They are trading and dealing at the moment, so must have something in place.

had a look on teh FSA site and they don't appear to have been in their bad books at all, neither have any of their registered employees.

I'm loving those examples of monitoring. Very, very useful. Thank you for that.

Thank you one and all for your contributions, be they witty or inciteful. I shall let you know how I get on when I get back tomorrow afternoon, assuming I haven't had the 21 beers suggested by Freddie Goodwin!

 

[Spunk Bubble]

I have blagged myself an interview for the role of head of compliance at a firm of stockbrokers tomorrow. Now I am a little out of my depth. Can anyone enlighten me on what they may ask, or what I should ask them, so I don't make too much of a fool of myself?!

Just repeat 'I will comply' to every question

 

[Rowdey]

A very good friend of mine is very high up in compliance at City Group, gets to travel to Japan, USA - all over, and earns serious stacks - even more than Dwayne i'm sure..

We all have this view that he can basically walk in to any stock traders office, with a team of policemen behind him, and shout 'Put the phone down, step away from the computor and go home, this is a lock down!'
He's pretty powerful, and i'm not sure traders like him tbh..!

Good luck

 

[timbha]

usually the position of Head of Compliance requires FSA approval before you can take responsibility for the role. Much form filling, checking, etc.

I'd be very surprised if anyone could blag themself into this position - they would soon be found out by their peers and competitors and reported - and possibly never work again in financial services - plus the firm would face serious consequences - be warned!!!

 

[beorhthelm]

I will point this out. I got the interview through an agency. I actually tried to explain that I am looking for entry level jobs really. He was convinced I had what it takes and said he'd send my Cv off. I agreed, assuming the company would come back with a firm 'NO!', but they liked what they saw too

ah, now it makes sence. scum employment agent is sending you in to make another candidate look good or find out what sort of feedback you can give them. they've probably put stuff on your CV that you dont know about so you look like at least plausible. Either that or job isnt really Head of compliance but an assitant to one.

 

[Kylies Stunt Arse]

usually the position of Head of Compliance requires FSA approval before you can take responsibility for the role. Much form filling, checking, etc.

I'd be very surprised if anyone could blag themself into this position - they would soon be found out by their peers and competitors and reported - and possibly never work again in financial services - plus the firm would face serious consequences - be warned!!!

Not strictly true. If there is a director above that position then they will have the approval and the controlling function.

Not too sure that competitors would discover and report either, and even if they did it would make no difference unless the FSA went in and found serious problems.

 

[Hercules Rockerfeller]

ah, now it makes sence. scum employment agent is sending you in to make another candidate look good or find out what sort of feedback you can give them. they've probably put stuff on your CV that you dont know about so you look like at least plausible. Either that or job isnt really Head of compliance but an assitant to one.

I think the former. Send me in. Find out what was asked etc. Get the real candidate up to speed and I get hung out to dry. Oh well, a bit of interview experience can't hurt!

 

[Hercules Rockerfeller]

Well I am back from the interview. It actually went very well. The role is not to be he head of compliance immediately, but to work under a contractor, learn the ropes, then take over in about 6 months.

They're gonna let me know tomorrow!