What the work is
A compliance specialist helps an organisation follow the law, the regulator’s requirements and its own internal rules. They write and update policies, check clients and counterparties, spot suspicious transactions, train staff, look into reports of misconduct and prepare reports for management and supervisors. Most work in banks, insurance and payment companies and large businesses.
A typical day
Checking a new corporate client: its owners, the source of funds, sanctions lists. Reviewing transactions the system flagged as unusual. Updating the conflict-of-interest policy after a change in the rules. A short training session for the sales team. A report to management on the month’s risks.
How to start
- Study law or economics.
- Learn the basics of anti-money-laundering, the regulator’s requirements for your sector and the principles of risk management.
- Start as an analyst in a bank’s compliance or internal control team.
- Build attention to detail, independent judgement and the ability to explain rules without jargon.
Related professions
Lawyer, auditor, credit specialist, financial analyst.