Compliance/Risk Officer

All financial services organisations have to meet a wide range of compliance and risk requirements set out in legislation e.g. data security, or required by regulators e.g. financial crime, operational risk. To meet these requirements many organisations will have dedicated Risk and/or Compliance departments that are experts in the relevant legislation and regulator requirements. They provide proactive support and guidance to the business areas to ensure that the organisation meets this wide range of requirements, balanced against achieving appropriate customer outcomes. In some organisations, this expertise may be embedded in the business areas themselves.

Within the risk and compliance function of a specific organisation, the role of the compliance and 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 review and audits to check that policies are being correctly applied.

Relevant to:

Those looking to enter the industry or those working within financial services/insurance who are progressing into a Compliance Risk Officer Role.

Level

Duration:

19 Months

Cost

Any apprenticeship costs are covered by the employer and/or Government. Further information on costs for this apprenticeship can be found here.

Entry Requirements

Be aged 16 or over
Not currently in education or completing any Government funded training or qualifications
Have been a UK resident for the last 3 years
Employed for a minimum of 16 hours per week
Spend at least 50% of your employed hours in England
Must be working within the industry and completing a relevant role (or applying for a relevant apprenticeship vacancy)
Have achieved a GCSE (or equivalent) Grade C or 4 and above in English and maths. Candidates who have not achieved this, will need to score at least Level 1 in English and maths initial assessments completed during the Skills Edge enrolment process

Features and Benefits

As a Skills Edge student you will benefit from:

Regular one to one support sessions

Includes the study books and exam entries

4 modules for the ICA Certificate

All workshops recorded and available on-demand

Exam tips, tricks, and strategies

Interactive chat, forums and class notebooks for real time support and assistance from experienced and qualified Financial Services professionals

Monthly workshops to develop the relevant knowledge and skillset of a Compliance/Risk Officer

Course Structure Overview

Key Learning Outcomes

Risk and Compliance Reviews

Perform risk and/or compliance checks and reviews as directed by line managers to determine whether established protocols are being followed and where improvements can be made.
Identify and analyse risk and compliance issues within an organisation.
Undertake risk analysis to identify areas where risk can be mitigated to ensure organisations are fully compliant.

Implementing Compliance Processes

Embed risk and compliance processes and controls to ensure legal and regulatory compliance.
Contribute to embedding a culture of compliance within an organisation or organisations.
Maintain organisational compliance and risk documentation and policies.

Research, Reporting, and Communication

Prepare information in the form of reports for stakeholders within agreed deadlines.
Undertake compliance and risk research activities under the guidance of managers or senior leaders.
Support with regulatory correspondence and requests for information.

Projects and Digital Tools

Deliver risk and compliance projects as and when required by managers or senior leaders.
Use digital technology advancements in the management of risk and compliance.

Full information on all outcomes for this course can be found on the Institute for Apprenticeships & Technical Education website.

Qualifications

End Point Assessment:

To achieve the programme you will need to complete the following as part of your End Point Assessment. The End-Point Assessment (EPA) is conducted by the ICA, an independent organisation, to assess the apprentice’s knowledge, skills, and behaviours through two mandatory methods:

Interview and Portfolio of Evidence

Apprentices submit a portfolio of up to 10 pieces of evidence at the EPA gateway, which underpins a 60 minute online interview covering key Knowledge, Skills, and Behaviours (KSBs).

Written Project and Presentation:

Apprentices complete a 2,500 word project report. Following submission, apprentices deliver a 20 minute presentation, followed by a 25 minute Q&A session with the assessor, demonstrating their application of the KSBs.