Compliance/Risk Officer

Key Information

Level 3
Typical Duration 18 Months
Delivery Model One-to-one support
Delivery Location FutureSkills at MediaCityUK, Dakota Avenue, M50 2PU, workplace and community venues
Start Date Flexible (cohort start dates to be agreed between all parties) 

Programme Summary

Within the Compliance/Risk function of a specific organisation, the role of the Compliance/Risk Officer is likely to include providing relatively straightforward support and advice to the business on their specific area(s) of expertise, e.g. financial crime, training and competence, fraud, working with the business on specific problems that emerge, analysing data, maintaining records and producing reports, working on reviews/audits to check that policies are being correctly applied.

The role will require sound ethical standards, together with good communication and influencing skills, as there can be differences of opinion between the business and the Compliance/Risk function on the appropriate action to take. Sound, underpinning knowledge of risk and compliance frameworks, policies and procedures will be required. The role may cover compliance or risk functions or be a blend of both depending on the organisation.

Knowledge What is required (through formal learning and applied according to business environment)
Risk and Compliance Framework Broad understanding of the Financial Services legal and regulatory framework, the role of the different regulators (if appropriate), the implications of non-compliance for the organisation.
Risk and Compliance policies / procedures Sound understanding of the specific risk/compliance requirements for their role e.g. operational risk, financial crime, know your customer, training & competence, approved persons, conduct risk, complaints, data security. This should include both the actual legal/regulatory requirements eg Financial Conduct Authority (FCA) Handbook and the policies/procedures used by the organisation to implement these requirements.
Industry and company understanding Understands the role their organisation plays in Financial Services, the business they work in, the products and services offered to customers, the organisation’s approach to delivering fair customer outcomes, its ‘Values’, professional standards, and where their role fits in the business. Understands the function of the different areas of the organisation they need to work with in their role. Basic understanding of the impact the external environment has on Financial Services and relevant best practice.
Systems and Processes Understands the systems, tools and processes used in the role, together with the standards to be met, including IT tools.
Skills What is required (through formal learning and applied according to business environment)
Delivering Services Uses a wide range of company systems and processes to deliver services to customers/colleagues. This may include advice to customers/colleagues based on regulatory requirements and organisation policies; working with suppliers on data security; internal reviews / audits and follow up; ensuring accurate records e.g. approved persons; supporting formal committees. Proactively meets challenging individual and team performance measures in line with company policy, Values, standards and regulatory requirements. Plans and organises their work, focusing on priorities, to meet commitments / KPIs, including regulator deadlines. Escalates when required.
Analysis and Problem solving Analyses relatively straightforward risk/compliance problems, investigating issues e.g. fraudulent transactions, and recommending solutions. Works with data, analysing and producing required reports / management information for internal and/or external e.g. FCA use. Able to read and interpret reports, summarising required information.
Communicating & Influencing Writes clear and concise reports / recommendations in a way that is meaningful to the recipient.Deals effectively with customers/colleagues, using sound interpersonal skills and communicating 

well through a range of media using appropriate language e.g. phone, face to face, email. Listens actively to understand needs and adapts their style to the recipient. Influences others to ensure compliance/risk requirements are met, when appropriate.

Teamwork Builds/maintains strong working relationships with customers/colleagues/suppliers as appropriate.  Consistently supports colleagues at all levels and collaborates to achieve results. Aware of own role in the team and impact on others.
Continuous improvement Identifies opportunities to improve performance and service delivered. Takes ownership of specific changes that impact their role.
Personal Development Keeps up to date with relevant legal/regulatory changes. Seeks feedback and acts on it to improve their performance. Builds their own capability through ownership of their own development, working with their manager.
Behaviours What is required (acquired and demonstrated through continuous professional development)
Honesty & Integrity Truthful, sincere and trustworthy in their actions. Shows integrity by doing the right thing.Maintains appropriate confidentiality at all times.
Flexibility Adapts positively to changing work priorities and patterns when new tasks need to be done or requirements change.
Resilience Displays energy and enthusiasm in the way they go about their role, dealing positively with setbacks when they occur. Stays positive under pressure.

What will you learn?

Learning targets will be set by the Training Associate, mentor and apprentice to fit in with development required in the workplace.

Learning will take place on topics such as:

  • The organisation and company values
  • Key legislation
  • Financial crime
  • Risk and compliance regulations and processes
  • Personal development
  • Communication
  • Systems, tools and processes required for role

The apprentice’s line manager will be liaised with to ensure that further development opportunities are identified, which may help with progression in to a business manager role.

How is it delivered and assessed?

An individual learning plan (ILP) will be agreed with the apprentice, mentor and Training Associate. Short, medium and long term targets will be set, and this will be reviewed and updated on a regular basis. The targets will be based around the knowledge, skills and behaviours detailed in the standard. They will also take in to consideration development goals or actions that the apprentice already has in place.

Relevant/selected qualification will be started, and the apprentice will be expected to manage their own study for this.

Monthly sessions will be arranged with the Training Associate to support progress/and review portfolio of learning and evidence. These will be a mixture of face-to-face and remote sessions.

In addition, approximately every ten weeks, a progress review will be completed with the apprentice, mentor and Training Associate. This will look at progress towards all elements of the apprenticeship, and also cover discussions around topics such as:

  • Health and safety
  • Equality and diversity
  • Prevent and British values

Functional skills must be completed if Level 2 maths and English are not already in place. There is an opportunity, if needed, for additional visits with a functional skills tutor to be arranged. Testing will be arranged on a suitable date at City Skills, Lissadel Street, M6 6AP.

Once all prerequisites have been met, the learner can be submitted in to gateway.

Mandatory Qualifications

  • Functional Skills Level 2 in English (unless previously achieved)
  • Functional Skills Level 2 in maths (unless previously achieved)

The apprentice will complete an appropriate qualification/examination (as considered most relevant by the employer) from one of the following professional bodies:

  • International Compliance Association – Cert in Anti Money Laundering; Cert in Compliance; Cert in Financial Crime Prevention; Specialist Cert in Money Laundering Risk; Specialist Cert in Trade Based Money Laundering; Specialist Cert in Corporate Governance; Specialist Cert in Managing Sanctions Risk; Specialist Certificate in Conduct Risk; Advanced Cert in Compliance.
  • Chartered Institute of Securities & Investment – Combating Financial Crime; Global Financial Compliance; Risk in Financial Services; Managing Cyber Security
  • London Institute of Banking & Finance – UK Financial Regulation; Financial Services, Regulation and Ethics; Certificate in Retail Banking Conduct of Business; Certificate in Business Banking and Conduct; Cert in Regulated Complaints Handling; Award in Customer Complaints Handling
  • Chartered Banker Institute – Cert in Complaint Handling
  • Chartered Insurance Institute – Certificate in Financial Services, Certificate in Insurance
  • Chartered Institute of Credit Management – Diploma in Credit Management; CSA Diploma, Working in Debt Collection
  • Institute of Risk Management – International Certificate in Risk Management

End Point Assessment

The End Point Assessment Organisation (EPAO) for this standard is DSW. 

Assessment method Description Grading & Weighting Area of standard covered
Portfolio of evidence The Portfolio contains evidence from real work activity by the apprentice that has been built up progressively through the apprenticeship and will illustrate the application of the knowledge, skills and behaviours within the Standard synoptically. It will demonstrate the application of knowledge and competence in the work environment. It will also draw on any learning record created by the apprentice.  Fail/Pass/Distinction

50%

 

 Whole standard

 

Professional discussion The Professional Discussion will be a relatively unstructured discussion between the Independent Assessor and the apprentice where the Assessor clarifies, and if necessary delves deeper into, what has been submitted in the Portfolio, the work that the apprentice has done and how the evidence has been produced. The focus will be to ensure that the apprentice genuinely understands / has demonstrated the knowledge, skills and behaviours for which they have submitted evidence. It will enable the Assessor to make a robust assessment of the apprentice against the assessment criteria and will score the Portfolio and Professional Discussion accordingly. It is expected to last around 30 minutes and more detailed guidance will be provided in the assessment tools which will be developed by assessment organisations.
Interview The Interview will have a well defined structure, and be distinctly different from the format of the Professional Discussion, enabling the Independent Assessor to explore, on a consistent basis, those areas of the standard that are more difficult to evidence in a Portfolio – particularly the skills and behaviours. This may include communicating, influencing, teamwork, some aspects of problem solving, flexibility, resilience for example. The Assessor will be provided with a bank of questions / mini role plays / scenarios from which they can select the most appropriate for the apprentice to establish the level of competence in these skills and behaviours. This will enable them to make a robust assessment of how well the apprentice meets the assessment criteria and score the Interview appropriately. A full brief for the Interview, together with the bank of questions etc will be provided in the assessment tools which will be developed by the independent assessment organisation. This will ensure that consistent approaches are taken and that all key areas are appropriately explored. The Interview is expected to last between 30 and 45 minutes. A more accurate length will be provided in the assessment tools.  Fail/Pass/Distinction

50%

 Primarily Skills and Behaviours

 

Entry Requirements

  • English and maths – Level 1

Apprentices must be in suitable employment and have the opportunity to develop the required knowledge, skills and behaviors aligned to this apprenticeship standard. 

Interested in this apprenticeship? Apply now.