Conquering a Career in Compliance

John Smith

A popular career path that exists in nearly every business model is the Risk, Regulation and Compliance field, where company departments analyse risk management processes and ensure all areas of a financial institution are meeting regulatory standards. FDM focuses on developing a critical understanding of handling sensitive information and high profile projects in line with best practice. Many of our consultants, like Karl Baer, have gone on to secure exciting roles at global companies and have successfully launched their careers in compliance. We caught up with Karl to get an inside look at a day in the life of an FDM consultant in an RRC role. 

I remember the days before graduating from college very well. I was juggling my last few classes, applying to multiple jobs per day, and dealing with constant rejection due to lack of experience. It was all quite exhausting.

Around this time, I was introduced to FDM which I found through my job search on LinkedIn. I made the decision to join FDM with the hope of getting my foot in the door of a large, reputable financial institution. I always had an interest in working in the financial sector, largely in part due to members of my family and close friends being part of the industry. I found that FDM was an easy transition into the professional world from the environment that I grew accustomed to in college.

The relationships that I developed with my trainers has definitely been the best thing about FDM. To this day, I am still in contact with several of the trainers I met during my time in the academy, who always had a plethora of fun facts and stories to tell that kept the regulatory training classes interesting.

One aspect of the financial sector that appealed to me was the field of Risk, Regulation and Compliance which I’d previously touched upon after taking a Financial Scandals and Upheavals course during college. I was interested in learning about the ways in which criminals have attempted to con the general public, and I wanted to search for a career where I could contribute to the prevention of scandals and money laundering.

As a Data Governance Analyst, some of the tasks that I handle include reaching out to clients to obtain necessary tax forms, ensuring that the data from the tax forms are properly transferred into the company’s proprietary database, contacting state IRS departments to confirm correct refund/payment amounts, and developing ideas for process improvement for internal business practices.

There have been many times where my work was crucial to a large project or deadline, and I had to show dedication to ensure it was completed efficiently. During one project, my manager referred me to another business unit within the company that needed assistance in obtaining investor tax forms and ensuring they were validated by our tax advisors, prior to the approaching fund closing deadline. I worked directly with this team to complete the project while continuing to manage my everyday tasks. The project management skills that FDM helped me develop were crucial for me to be able to maintain my current workload while adding another project under a strict deadline.

My overall experience on-site has been very pleasant. Luckily, there was an FDM consultant who was placed before who sat nearby and helped me transition from training to placement.

FDM has prepared me for life on-site by developing the necessary professional skills to communicate in a client facing role, and providing a base layer of regulatory knowledge to truly understand what I am asking from the investors.

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