I form part of the compliance monitoring team which oversees front office processes, and tests these against our own internal policies as well as FCA (Financial Conduct Authority) and EU rules. A lot of our monitoring involves manual testing. I particularly enjoy the data analytics and have had the opportunity to build out my own tests and procedures using TradingHub software. I’ve also been able to participate in a global project designed to build out our data analytics capabilities, which has allowed me to build invaluable relationships with key stakeholders within the business and develop my skills.
I’d say one of the biggest challenges in this role is planning for when things go wrong. As is the case with monitoring, you’re performing the same test on a monthly/quarterly basis, and at times there can be a lull where there are no findings and things go smoothly. However, when an issue arises and you need to challenge the business as to why it has arisen, prior preparation is needed to show the business that you understand how the product/instrument works. This can be done by consulting your own team for advice or maybe having previously sat with the relevant team for a morning and assessing their processes and controls.
After graduating with a degree in Accounting and Finance I wanted to gain practical experience of what I had learned over 3 years. I had previously gained auditing experience through an internship which probably helped me in the application process as I was well versed in regulatory affairs. The Investment 20/20 scheme has allowed me to get my foot in the door and develop a key understanding of how the investment management industry operates.
It is important to learn how to build networks even if it doesn’t come naturally as these will be the people to help you in the future and guide you on the right path.