Compliance Risk Officer - Skills Edge Training

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 who are progressing into a Compliance/Risk Officer Role.

Level

Duration:

18 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 not achieved CII CF1/R01 or LP2 (or equivalent)
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 CII study books and exam entries

Fortnightly workshops for the CII Certificate in Financial Services

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

Free CII membership for non-members through the CII Aspire Apprenticeship Programme

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

Course Structure Overview

Key Learning Outcomes

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 and procedures

Sound understanding of the specific risk and compliance requirements for their role e.g. operational risk, financial crime, know your customer, training and competence, approved persons, conduct risk, complaints, data security. This should include both the actual legal and regulatory requirements eg financial conduct authority (FCA) handbook and the policies and 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 within 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.

Delivering services

Uses a wide range of company systems and processes to deliver services to customers and colleagues. This may include advice to customers and colleagues based on regulatory requirements and organisation policies; working with suppliers on data security; internal reviews and audits and follow up; ensuring accurate records e.g. approved persons; supporting formal committees.

Analysis and problem solving

Analyses relatively straightforward risk and compliance problems, investigating issues e.g. fraudulent transactions, and recommending solutions. Works with data, analysing and producing required reports and management information for internal and/or external e.g. FCA use. Able to read and interpret reports, summarising required information.

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 AssessmentThe End-Point-Assessment (EPA) is conducted by an independent organisation, who will assess the Apprentice’s knowledge, skills and behaviours through the following methods:

A portfolio of work completed during the end point assessment stage

A minimum of 3 different types of evidence are required to demonstrate competence and authenticate the assessment. Examples could be: written work, internal compliance audits, project work completed, formal performance review or appraisal, CPD log.

Reflective Discussion

A structured interview with Skills Edge Training to explore the portfolio, clarify any questions the assessor has, evidence any aspects of the standard that are not already evidenced in the porfolio, and discuss how the Apprentice has progressed in their role.