Prepare for your Compliance Specialist interview. Understand the required skills and qualifications, anticipate the questions you may be asked, and study well-prepared answers using our sample responses.
The interviewer may ask this question to see if you have experience with the Compliance Officer Job Description. If you have worked in compliance before, you should be familiar with the duties of a compliance officer. If you haven’t, it’s important to research the job description before your interview. This will help you understand what a compliance officer does and how it relates to the job you’re interviewing for.
Answer Example: "I am very familiar with the Compliance Officer Job Description. I have been working as a compliance specialist for five years now, so I am well-versed in all aspects of compliance. I understand the importance of following the rules and regulations set forth by the government agencies and organizations I work for. I also know how to create effective compliance programs that help organizations meet their compliance obligations."
Employers ask this question to make sure you have the skills and abilities needed for the job. They want someone who is organized, detail-oriented and able to work independently. When answering this question, think of a few qualities that are important for compliance specialists. Try to pick ones that relate to your experience or skills.
Answer Example: "I believe the most important quality for a compliance specialist is attention to detail. A compliance specialist needs to be able to thoroughly review documents and records, looking for any errors or inconsistencies. They also need to be able to document any issues they find so they can be resolved quickly. Another important quality is communication skills. Compliance specialists often have to communicate with employees and managers about issues they find. They need to do so in a way that’s clear and concise."
Employers ask this question to learn more about your work ethic and how you approach your job. They want to know that you are a hard worker who is willing to put in the time and effort needed to succeed in their company. When answering, think of an example from your past where you worked extra hours or completed a project ahead of schedule.
Answer Example: "I have always had a strong work ethic, and I believe that hard work pays off. I am always willing to put in the extra hours needed to complete a project on time or ahead of schedule. In my last position, I was tasked with creating a new compliance policy for our company. I worked late nights and weekends for weeks until I had a draft ready for review. My dedication paid off, as the final policy was approved by management."
Compliance specialists often have responsibility for creating and implementing new policies and procedures. Employers ask this question to learn more about your experience with this type of work and how you approach it. In your answer, explain what steps you take when creating or implementing new policies and procedures. Share an example of a time when you did this successfully.
Answer Example: "I have extensive experience creating and implementing new policies and procedures. In my previous role as a Compliance Specialist, I was responsible for creating and updating company policies on a regular basis. To do this, I would first research current laws and regulations to ensure that our company was in compliance. Then, I would create a draft of the new policy or update to an existing one. After reviewing the draft with my team members, I would submit it to management for approval. Once approved, I would then train all employees on the new policy or update."
This question can help the interviewer understand how you use your critical thinking skills and apply them to your work. Use examples from previous roles where you identified a risk, analyzed it and took steps to reduce its potential impact on the organization.
Answer Example: "At my previous job, I noticed that our accounting department was making several errors when processing customer payments. After investigating the issue, I learned that our software system had not been updated to accommodate new payment methods. We updated the system immediately to avoid any potential fraud or theft."
This question is a great way for the interviewer to learn more about your expertise and how you plan to apply it in this role. When answering this question, it can be helpful to mention an area of compliance that you’re familiar with or one that you’d like to learn more about.
Answer Example: "My primary area of focus as a compliance specialist would be ensuring that our company’s products meet all regulatory standards. I have experience in conducting product audits and analyzing data to ensure we are in compliance with federal regulations. In my previous role, I helped develop procedures for monitoring production lines so we could ensure our products met all safety standards."
This question can help the interviewer determine how you handle conflict and whether you have the ability to stand up for what’s right. Use examples from past experiences where you challenged authority or implemented change in order to show that you are willing to do what’s necessary to ensure compliance with company policies.
Answer Example: "If I noticed a direct violation of a policy I helped create, I would first try to speak with the individual about their actions. If this did not work, I would take steps to ensure they were aware of the policy and its importance. If the violation continued, I would report it to my supervisor or manager so they could take appropriate action."
Corporate governance is a process that ensures companies are being run in a way that’s ethical and compliant with regulations. It involves making sure that managers and directors are following company policies and procedures, as well as making sure shareholders are represented in decisions. A compliance specialist needs to have a deep understanding of corporate governance in order to do their job effectively. When answering this question, try to show the interviewer that you have a strong understanding of what corporate governance is and how it works.
Answer Example: "I have a deep understanding of corporate governance because I’ve been working in compliance for several years now. I know that corporate governance is all about ensuring that companies are operating according to their stated purpose and mission. It also involves making sure managers and directors are following company policies and procedures, as well as making sure shareholders are represented in decisions."
Employers ask this question to see if you have experience with the compliance laws and regulations in their industry. They want to know that you can quickly learn the requirements of their company and apply them to your work. In your answer, explain that you are familiar with the compliance laws and regulations in this industry. Share an example of how you applied these principles in a previous role.
Answer Example: "I am very familiar with the compliance laws and regulations in this industry. I have been working in compliance for five years now, so I am well-versed in all of the latest updates. I also take time every week to read through the latest news and updates on compliance issues. This helps me stay current on any new developments or changes in the industry."
This question can help the interviewer determine your knowledge of compliance laws and regulations. Use your answer to highlight your understanding of these important regulations, as well as your ability to learn new information quickly.
Answer Example: "I believe it’s important to be familiar with all of the major compliance laws and regulations. However, there are a few that I find myself referencing most often. The first is the Foreign Corrupt Practices Act (FCPA), which prohibits U.S. companies from paying bribes to foreign officials in order to secure business. The second is the Sarbanes-Oxley Act (SOX), which requires publicly traded companies to maintain accurate records and report any suspicious activity. Finally, the Health Insurance Portability and Accountability Act (HIPAA) protects patient privacy by requiring healthcare providers to secure sensitive information."
