Do you want a career with a range of high earning industries? Working in a compliance and risk role, you could find yourself with a range of different sectors from data security, energy, insurance, finance and many more. You could even one day find yourself a chief risk officer. If this sounds like something you’re interested in, read on to find out if you want to start your journey today!
Risk Officer and Compliance Role
The length of this apprenticeship is typically 15 to 18 months depending on the circumstances. Once completed you will be fully competent in the role and will be able to continue your career development. Within the compliance and risk section of a business, you can find yourself working on specific problems with occur, liaising with your team and managers in order to analyse data and produce reports. This role will therefore require responsibility and a strong ethical mindset along with great team working and communication skills in order to effectively diffuse situations and take on problems head on.
The Compliance and Risk Officer Apprenticeship offers a range of different learning opportunities within the workplace. Upon completion of the apprenticeship, you are given the necessary tools to be opened to a range of roles across industries such as Compliance Officer with an average UK salary of £35,044. Senior Compliance Officer with an average UK salary of £47,124 or a Lead Compliance Officer with a UK average salary of £50,929. There is no doubt this apprenticeship can open the gates to a successful career with huge earning potential.
Entry Requirements and Criteria
In order to qualify for this risk officer role, the entry requirements include Level 2 maths and English and advise employers other experience could be considered as an alternative. It is worth noting an employer may hire you based on your personality and potential rather than your grades; this gives everyone the opportunity to succeed in an apprenticeship.
Core Competencies
As part of your apprenticeship, you will have to satisfy a range of different competencies. Examples follow:
- To understand the financial services legal and regulatory framework understanding the role of different regulators. The apprentice must also be fully aware of the implications if there was a failure of compliance.
- To understand the role their business plays within the financial services industry, along with the products and services offered to customers. The apprentice must also understand the organisations values and professional standards where necessary. To have an interpretation of external factors which impact the financial services and relevant best practice.
- The apprentice must understand a range of systems, tools and processes used within their role in line with standards to be met.
- The apprentice must be able to use a variety of company systems to successfully deliver services to customers and employees and are therefore able to advise customers and colleagues based on regulatory requirements and organisational policies. The apprentice must be able to work with a range of stakeholders.
- The apprentice must be able to harvest and maintain working relationships with a range of stakeholders, both internal and external.
- To be trustworthy in their actions choosing to do the right thing in difficult situations.
- To maintain a positive working attitude under pressure.
Qualifications
There are a range of qualifications available with the Compliance and Risk Officer Apprenticeship Level 3. Following the employer’s discretion one of the following bodies with award your qualification:
- International Compliance Association
- Chartered Institute of Securities and Investment
- The London Institute of Banking and Finance
- Chartered Banker Institute
- Chartered Insurance Institute
- Chartered Institute of Credit Management
- Institute of Risk Management
Conclusion
As you can see from above, the Level 3 Compliance and Risk Officer apprenticeship is the perfect starting point for any individual looking for a career within the financial, security and data sectors (not limited to). The core skills you will cover within this apprenticeship not only improve your workplace skills but also help develop personal relationship and life skills which will help you grow alongside your roll. With the digital industry growing year on year now is the perfect time to get into an apprenticeship. If you’re looking for some help with your interview skills visit this guide on how to prepare for an interview.
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