In many cases, people looking to pursue a compliance officer career will earn a bachelor's degree in criminal justice, finance or business. New laws and regulations are constantly spurring the demand for compliance professionals, creating a wealth of job opportunities for lawyers looking for an “alternative” career. Compliance is the nitty-gritty of tax – the paperwork. You are essentially a protector. No other career choice will give you quite such a wide tool-kit as strategy consulting. overflow: hidden; .quote-request-form label { font-size: 14px !important; font-weight: bold !important; margin-bottom: 4px; display: block; } And it’s not just banks. border: none; Nearly nine out of 10 financial services executives find it a challenge to recruit skilled compliance workers. Team Prosple. .quote-request-form input[type=checkbox], .quote-request-form input[type=radio] { float: left; margin-right: 5px; } .quote-request-form ul { margin: 10px 10px 20px 10px !important; padding: 0 !important; list-style-position: inside; } .input-container div.ui-radio { margin-bottom: 5px; } .quote-request-form .ui-submit .ui-btn-inner { text-shadow: none !important; color: #ffffff !important; font-weight: bold !important } .quote-request-form-form legend { font-weight: bold; text-transform: uppercase; padding: 0 10px; } Get the latest career advice and insight from eFinancialCareers straight to your inbox, Please click the verification link in your email to activate your newsletter subscription. [ad_1] In the olden days a career in finance did not offer anything more than a back-office recording keeping job. } As the regulatory landscape becomes increasingly complex in these industries, compliance professionals perform a critical role, helping companies to interpret and apply regulations to operate within the bounds of the law. Start your own business? background-color: #43a047 !important; } Here are 4 things you didn't know about this process. According to the Bureau of Labor Statistics (BLS), accountants in the U.S. earn a median annual salary of $70,500 — nearly double the median wage of all occupations nationwide. @media (max-width: 750px) { background-color: #1e88e5; font-weight: bold !important; Compliance. font-weight: bold; Beecher Tuttle Here are my top five reasons. border-radius: 3px; Save. Variety Salaries are strong. ... For example operational, financial, compliance and security. “You’re well-respected and well-regarded as a junior person,” said one of the employees. Operational: all organisations have processes that define their business, for example, manufacturing, supply chain and marketing. margin-top: 12px; It is a developing and challenging discipline that has become a key business requirement, good risk management is a core part of the success of any business enterprise, in any sector across the globe. .rating-single label, .input-container label { font-weight: 400; } Very good question in my opinion. The demand for talent has increased astronomically in compliance and in AML because of numerous billion dollar fines, the growing importance of data analytics and fintech/regtech diversification in the financial services industry, and an increase in the budgets and types of personnel needed to run effective programs. Whether you are a lawyer … Please leave it blank: Set your goals. Late last month, we detailed all the reasons you wouldn’t want to work in compliance, despite the fact that big banks like J.P. Morgan and HSBC are hiring in droves. background-color: #ffffff; Knowledgeable compliance professionals are in demand. Do you agree? .rating-options { background-color: transparent !important; } At the heart of the legal professional’s role is client service. In our last post, we discussed careers in quality. .quote-request-form ul { margin: 10px 10px 20px 10px !important; padding: 0 !important; list-style-position: inside; } On October 15th, hotcourses.com moved to findcourses.co.uk - You weren’t involved in the rest of the business. Truth be told, I never intended on pursuing a career in Financial Crime Compliance. Very much in demand. .quote-request-form .ui-submit .ui-btn-inner { text-shadow: none !important; color: #ffffff !important; font-weight: bold !important } color: #ffffff; And don’t forget, ALL of these impact upon both the public and the wider financial system. Compliance is a pretty good sector to be in if you want job security and a healthy paycheck. In their most recent career webinar aimed at graduating students, Goldman Sachs employees offered their pitch as for why you should be dying to work in compliance. Compliance issues like the J.P. Morgan “Whale” scandal or FX rate manipulations dominate the news. From poring over financial statements and expense reports to ensuring compliance with government regulations, auditing offers a wide variety of potential career opportunities. Is your company looking to take on an apprentice? But they both need doing. “Compliance is a perfect way to get into the industry and understand how the business works.”. In this, we will focus on the reasons of why to pursue a career in quality. Client Service. Part of the job is following the mistakes of others to make sure they don’t happen at home, according to Goldman. Working in the compliance field gives me the opportunity to impact things far beyond a specific business or even a business bottom line. color: #666666; The answer was yes. Compliance Professionals ensure management and personnel are complying with the company’s policies and procedures, as well as applicable laws and regulations. float: none; Jobs in accounting are popular for several reasons. } width: 100%; Compliance professionals are essentially risk managers. Along with the promise of job security, pursuing a career in regulatory affairs affords you a great deal of flexibility in where you choose to work. Have you got the professional know-how? We use cookies on our site to give you the best experience possible. margin: Into which jurisdictions might you place it? This is a cost-free and obligation-free service. Some of the reasons as to why you should pursue a career in quality, that we can list out are given below: From good to great: .quote-request-form-form .testRequest input { top: 6px; position: relative; margin: 0 8px 0 0 !important; min-width: 20px;} Designing a new product? .quote-request-form-row { A finance person was understood to be a record-keeping person in an organization. To what sort of customers? cursor: pointer; Robert Walters labelled Risk and Compliance professionals the biggest winners, while the Wall St Journal ran a similar story, detailing how Compliance is booming. .quote-request-form .rating-low { float: right; } Financial advisers need to be qualified to perform the role they are given with an FCA-approved qualification. In fact, if you had your way, there wouldn’t be much of a business – as then there wouldn’t be anything non-compliant taking place. margin-top: 10px; What’s in it for you as a career option? .quote-request-form input[type=text], .quote-request-form input[type=email], .quote-request-form input[type=tel], .quote-request-form select, .quote-request-form textarea { width: 100% !important; } Browse the top 10 online finance courses to start your online learning journey today! After completing my LLB and my legal training, it became very clear that my legal career wasn’t going to be like an episode of Suits, and I decided to follow many of my friends into the world of banking. .input-container { line-height: 21px; } .quote-request-form-closertext { Treasury management is a rewarding, exciting and varied career that helps shape the future of an organisation’s financial strategy. .quote-request-form-form .testRequest label { position: relative; margin: 0 !important; } The demand for experienced compliance professional currently outweighs the supply. That’s one side of the coin. You also get to joke around about Wall Street watchdogs, apparently. What is more, unless you work for a big corporation, there isn’t any room for promotion on this position. .rating-item input[type=radio] { position: relative; left: 7px; top: 5px; } label.form-option { font-weight: 400 !important; } Tell us what kind of professional training you're searching for and we'll look through our over 17,000 course listings and personally get in touch with several UK training providers. text-shadow: none !important; Top 5 reasons to work in Compliance. .quote-request-form .ui-btn { margin: .2em 0 !important; } padding: 20px; .quote-request-form-form fieldset { border: none; border: solid 1px #cccccc; margin: 20px 0; padding: 0 10px 15px 15px; } } color: #666666; .quote-request-form-head, .quote-request-form-body { padding: 15px; } Please try again. There are some bits which are more exciting than others. Let’s involve compliance! } .rating-single div {clear:both;} There’s a growing need for skilled compliance specialists in the healthcare, pharmaceutical, and medical device fields. .rating-item label { position: relative; left: 13px; font-weight: bold !important; } width: 100%; Compliance officer is a sensitive position.Companies do not like to see these people go, they do not like to hire a new officer every other year. text-align: left; Subscribe and get the latest news, discounts and giveaways sent straight to your inbox! Something has happened and a firm is in breach of the laws/regulations with which it is bound to comply. background-color: #ffffff; .quote-request-form-head, .quote-request-form-body { padding: 15px; } .rating-single div { margin-bottom: 5px; clear: both; } Working in compliance is self-transcendent. width: 100%; The work is always changing: New rules and regulations hit Wall Street on seemingly a daily basis, so the work stays fairly fresh. As a woman in tech, I''m no stranger to the major gender gap in the industry. cursor: pointer; How many people can say that their jobs are interesting? According to the AAUW, women only hold 26 percent of IT jobs - a number that''s declined from a 35 percent high in 1990. She was in charge of collecting data on some of the claims he made and, hours later, found herself at the “big table” presenting in front of senior people. border: solid 1px #cccccc; padding: 20px; You have a passion for making sure the company you work for follows the law / you think that protecting your customers is of the upmost concern. Jennifer Scalise, a compliance expert and … Step 2: Pursue Certification or Licensure. The salary midpoint (or median national salary) for internal auditors in corporate … No longer is it about box-ticking or rubber stamping. Most corporate compliance roles come with a great deal of responsibility, but if you can handle the pressure of the job, you’ll find that you have the opportunity not only to serve as an expert resource on risk and compliance, influencing high-level decisions at your company, you will also have the chance to create a culture of ethics, integrity, and accountability. .quote-request-form-form fieldset { border: none; border: solid 1px #cccccc; margin: 20px 0; padding: 0 10px 15px 15px; } So there we have it. Well, alright, most of the time it’s interesting. overflow: hidden; Gain a better understanding of the opportunities that may await in this guide to eight fields to consider in compliance. .quote-request-form-row { overflow: hidden; margin-top: 12px; } Exposure to senior folks: Even junior people in the compliance office get to interact with senior thought leaders, said one of the officers. Perhaps the industry''s gender problem stems from young girls'' perception of tech jobs. .rating div label { font-weight: normal !important; } font-weight: bold !important; .quote-request-form { font-weight: bold; border: solid 1px #cccccc; Firms now want engaging and knowledgeable compliance people. It's this change in the role that many graduates enjoy. float: none; } Here are my top 3 reasons to work in compliance. (In a big corporation you can become a compliance coordinator, leading and managing a group of compliance officers. eFinancialCareers is a DHI service But now the compliance professional is pretty much in the centre of an organisation. There was an error with your request. That’s fine. From high marks for job satisfaction and growth potential to the ability to impact individuals and entire organizations in meaningful ways, here are four reasons why human resources stands out as a “best careers” choice: 1. Business and Corporations font-size: 16px; Twitter gaining on Bloomberg as Wall Street’s top research tool, Goldman Sachs’ global recruitment head answers your questions, Nine random factoids about interviewing and working at Goldman Sachs. font-size: 14px; border-radius: 3px; Very much in demand. Financial services firms in the UK are, understandably, closely monitored and regulated by a dedicated entity: the Financial Conduct Authority (FCA). In today’s organization a finance […] margin-top: 10px; Banks want direct comparable experience for senior positions, so if you’re eyeing a career in compliance, you’ll … color: #ffffff; .rating-single input[type=radio], .input-container input[type=radio], .input-container input[type=checkbox] { position: relative; top: 3px; } ( in a big corporation, there isn ’ t be said about senior people example! Health care graduates enjoy some bits which are more exciting than others a healthy paycheck a. 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