Name: COMPLIANCE INTERVIEW Questions and ANSWERS! (Compliance Officer and Manager Job Positions)
Uploaded: 2020-03-20T00:02:15.000Z
Duration: 12 min 2 s
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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