Compliance and Audit professionals monitor enterprises, business units or client financial activities to ensure adherence to applicable procedures, regulations, policies and laws. Internal-facing roles focus on financial transactions, employee conduct and implementation of systems and policies, while external-facing roles are concerned with the investigation and prevention of fraud. These roles involve examining vast amounts of data and interviewing related parties as needed, along with other investigative work.
In-demand roles in Compliance and Audit generally require:
Methodical thinking and strong attention to detail
Comprehensive knowledge of regulatory standards and compliance procedures for the financial services industry
Business or Law Educational backgrounds in Accounting, Business Management, Economics, Finance, Law/Paralegal, Criminology, Investigative and Forensic Accounting (DIFA), and/or an MBA.
May Camello is a Senior Internal Auditor at TD Bank Group. Her credentials include an MBA, CMA.
Compliance Officers ensure financial services compliance standards are being met by an organization’s employees, making this role ideal for the professional with a deep understanding of financial services rules and regulations.
The financial services sector presents ample opportunities for fraudulent activity to occur. Forensic and Fraud Specialists are ethics-minded, inquisitive professionals who identify and react to any such activity.
Systematic, logical thinkers with a thorough understanding of the inner workings of financial services will be well-suited to an Internal Auditor role, which involves monitoring and evaluating the efficiency of an organization’s control structure.