How to Prepare for a job interview in the Compliance sector
If you want to work in compliance then we’ve got the strategy to help you nail the interview.
Though the road to compliance jobs may be paved with much demand from employers, desperate to avoid the penalties of existing within a highly regulated business landscape; don’t be complacent. That is the first thing to be aware of when preparing for your compliance job interview. The second is, simply, preparation.
Read between the lines
The job description is more than just a set of criteria. It identifies what the employer is looking for in a candidate. Thus you can use it as a clue to the types of questions you may be asked by reading into the prerequisites laid out in the job spec. Highlight key points and use that to frame the examples you prepare that connect your relevant experience with what your interviewer will ask.
Be aware of the main points you want to cover during interview. You want to convey technical prowess, regulatory knowledge and soft skills such as communication and teamwork, so have a plan in place of how you intend to relay this information.
Update your Knowledge
It isn’t only your iPhone that needs regular updates but also your knowledge in the compliance space. Your interviewer will likely ask about more than just the obvious key regulations circulating. Further to the arrival of the EU GDPR there will undoubtedly be questions to that effect, but you may also be asked about the latest amendments to existing regulations. So keep yourself in the know by reading up on the latest regulatory updates, media releases and other material from relevant regulating bodies.
Are you an Asset?
You can demonstrate how you intend to add value to the firm by preparing intelligent answers to questions concerning key regulatory challenges facing the business. Drawing relevant links between current and impending regulations and your would-be employer, in terms of how they may affect the business, will highlight your insight and understanding in this area.
Long Term Goals
Compliance departments are particularly anxious about employee retention so make it clear that you’re in it for the long haul. i.e. Less focus on your financial gain and more about how you’re going to be able to grow your career at the firm.
Asked and Answered
While you need to have great answers up your sleeve, you equally need to be prepared with some good questions for your interviewer. Think of ways to elicit their opinions on topical subjects within compliance. In this way, you may find your conversation taking interesting and novel turns that will not only ramp up the engagement from your interviewer but also make you stand out from other candidates. Not only useful for your interviewer, this line of questioning may also broaden your insight into the firm’s culture and your place within it.
It’s Good to Talk
Remember to communicate clearly, don’t ramble, and don’t overload your answers with jargon. How you talk about compliance in an interview setting will demonstrate your ability to communicate across the business, including those in non-compliance roles.
At the end of the day, the most important thing to remember at your compliance job interview is to be transparent regarding your experience, your and their expectations and your market value. Stay true to yourself and you’ll find the role that suits you.