The key to a successful trick in the interview preparation in the Risk & Compliance industry is Research, Review and Rehearsal.
Demands on the Risk and Compliance professionals are greater than ever before and organisations are placing a growing emphasis on hiring not only technically strong candidates but those with exceptional relationship management and stakeholder engagement skills. This is clearly a result of the growing desire to see risk and compliance professionals as “trusted advisors”. Interviews for risk and compliance positions are consequently not only an arena to test your technical knowledge but an opportunity to demonstrate how you relate and communicate under pressure.
Whether you are a risk expert or a compliance professional there are a number of key processes you can follow to give you the best chance of success.
Research = knowledge = confidence = credibility = success!
- Understanding the maturity of their frameworks
- Lines of defence
- Risk profiles and Key Risk Indicators
- Regional versus local reporting lines and associated challenges
- Robustness of models
By understanding some of these factors prior to interview this will allow you to demonstrate initiative and help you position your experience in line with their goals when talking about past achievements.
Rehearsing answers to questions will be critical to your success. An effective way to prepare your past experience examples that relate to the job requirements is to use the STAR format:
This will help demonstrate the specific action you took in a challenging situation and the positive results you achieved.
Be prepared to communicate why the role appeals, how you can add value and what sets you apart from other candidates. It may be beneficial to organise a mock interview with your consultant to really lift your confidence.
Prepare relevant and insightful questions to ask your interviewer to demonstrate your initiative, knowledge and enthusiasm for the role. These could be based around the company, the role, the interviewer, or the team. Just make sure they are unique questions that could only be answered through an interview.
Finally the interview is an opportunity for you to sell yourself. Be prepared to communicate why the role appeals, how you can add value and what sets you apart from other candidates. Revise your key achievements and use them to demonstrate the key attributes you can bring to the role.
You have been invited in to interview because the hiring manager believes that your background and experience is a good match for the role. The interview gives you the opportunity to bring your experience to life and demonstrate the value this can bring to their organisation. Having prepared thoroughly you can be confident that you will perform at your best.
Remember every interview you attend is an opportunity to promote your brand. The Sydney risk and compliance community is small so regardless of whether the interview increases or decreases your interest in the role, make sure you manage the process professionally and leave all parties involved with a positive impression. You never know what opportunities might exist in the future, who people are connected to and what potential referrals could arise following the meeting.