This apprenticeship prepares employees for giving high-level advice to financial services organisations on legal and regulatory rules, such as those about data security or preventing money laundering.
Who is it for?
Anyone who wants to advise financial services organisations at a senior level on meeting the compliance and risk requirements set out in legislation (such as data security) or required by regulators (such as financial crime or operational risk). This is usually staff within an organisation’s dedicated risk and/or compliance departments, who need to be experts in the relevant legislation and regulatory requirements. They support and guide business areas to ensure the organisation meets this wide range of requirements, while achieving appropriate customer outcomes. In some organisations, this expertise may be within the business areas themselves.
What will they learn?
Within the risk or compliance function of organisations, the role of the Senior Compliance/Risk Specialist is to provide high-quality advice in areas such as risk, financial crime, compliance, and modelling or analysing data. This is likely to include dealing with complex problems, implementing new legal or regulatory requirements, and working with senior managers. So apprentices will gain a grounding in ethical standards, and acquire significant technical expertise – as well as excellent influencing skills, as there can often be differing views on the appropriate action to take. They will also gain a thorough knowledge of risk and compliance frameworks, policies and procedures.
This is a ‘core and options’ model, where apprentices can cover specific technical knowledge in a single option.
- CII Advanced Diploma in Insurance, Diploma in Insurance exams
- Assessment at the end (‘end-point assessment’)
Having completed this apprenticeship, the employee can go on to apply for membership of the appropriate professional body, depending on which qualification they take.
They will be fully competent in the role, and can continue to develop their career through a range of possible pathways – in the compliance/risk area or other areas of the business, applying the specialist expertise they’ve gained.
You can find out more here