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Apprenticeship training course

Compliance and risk officer (level 3)

There are 16 training providers who offer this course. Check if a training provider can deliver this training in the apprentice's work location.

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Information about Compliance and risk officer (level 3)

Giving basic advice to financial services organisations on the legal and regulatory rules they must follow - such as those about data security or preventing money laundering.

Knowledge, skills and behaviours
View knowledge, skills and behaviours

Knowledge

  • Legal and regulatory framework relative to their industry.
  • Role of the different regulators, and the implications of non-compliance for the organisation.
  • Legal and regulatory requirements, for example the Financial Conduct Authority handbook, and the policies and procedures to implement these requirements.
  • Risk and compliance requirements for their role, for example operational risk, financial crime, know your customer, training and competence, approved persons, conduct risk, complaints, data security.
  • Range and purpose of organisations that are found in their wider industry, and their own organisation’s position within this landscape.
  • Functions of the organisation and their relationship with risk and compliance policies and procedures.
  • Impact that the external environment and legal and regulatory requirements have on the organisation and on their industry.
  • Products and services offered to customers within their organisation and their industry relative to their role.
  • Approaches to delivering fair customer outcomes, for example identifying vulnerable customers.
  • Professional standards and best practice, and how these are applied.
  • Systems, tools and processes that assist in identifying, managing and mitigating compliance and risk issues.
  • Audit requirements and the responsibilities of the auditor and auditee.
  • Policies and procedures for the identification and escalation of compliance issues and risks.
  • Planning, prioritising and time management techniques.
  • Communication methods, including verbal, non-verbal and written, and how to adapt communication to different audiences.
  • Digital tools for research, analysis, and presentation of data through visualisation techniques.
  • Data protection legislation and the processes for sharing and storing information safely and securely, including risks to data from cybercrime.
  • Green and sustainable policies and practices and the role they play in the finance sector, and how to minimise negative impacts on environmental sustainability within the context of their role.

Skills

  • Implement legal and regulatory framework requirements.
  • Deliver risk and compliance services to stakeholders using organisational systems and processes.
  • Plan and organise workloads to meet individual and team performance targets.
  • Identify ways to reduce and mitigate incidents of non-compliance.
  • Escalate compliance and risk issues where appropriate in line with organisational procedures.
  • Manage records in order to meet audit requirements of the organisation.
  • Produce evidence-based reports and management information for stakeholders considering visualisation techniques when presenting data.
  • Select and use communication methods applicable to the audience and circumstances, for example, presentations, phone, face to face, email, virtual meetings.
  • Communicate about products with customers, colleagues or stakeholders in different styles, for example visually, verbally, written, using e-comms.
  • Build and maintain working relationships.
  • Identify own training needs and seek feedback to improve performance and service delivered.
  • Apply continuous improvement techniques when delivering improved compliance outcomes and mitigating risks.
  • Record information electronically and make use of available technology, for example Management Information Systems (MIS), spreadsheets, presentation software, word processing, email, virtual communication.
  • Handle data safely and securely and share information in compliance with data protection legislation and organisational policy.

Behaviours

  • Acts in a professional and ethical manner.
  • Maintains confidentiality and acts with due care and diligence.
  • Seeks to continuously improve and develop themselves and their team.
  • Adapts to, and is resilient in, challenging or changing situations.
  • Keeps up to date with relevant legal, regulatory and other changes affecting the industry.
  • Collaborates with and supports colleagues.
Apprenticeship category (sector)
Legal, finance and accounting
Qualification level
3
Equal to A level
Course duration
15 months
Maximum funding
£9,000
Maximum government funding for
apprenticeship training and assessment costs.
Job titles include
  • Anti-money laundering specialist
  • Compliance officer
  • Financial crime officer
  • Risk officer

View more information about Compliance and risk officer (level 3) from the Institute for Apprenticeships and Technical Education.