To ensure that organisations' operations comply with relevant legislation, regulation and policies through reviewing and implementing policies and procedures.
This occupation is found in a range of organisations that are required to meet compliance and risk conditions set out in legislation. This could include the requirement of regulators in areas such as financial crime and operational risk.
To meet these requirements many organisations will have dedicated risk and compliance departments that are experts in the legislation and regulative requirements. They provide proactive support and guidance to internal business areas to ensure that the organisation meets the requirements, balanced against achieving appropriate customer outcomes. In some organisations, this expertise may be embedded in the business areas themselves. Specialists may work in small, medium or large firms and increasingly may be working from home or with some access to office facilities.
Risk and compliance specialists operate in many sectors where regulation and legislation is evident, including banking and finance, gambling and gaming, healthcare, utilities and as consultants.
The broad purpose of the occupation is to provide high quality input and advice to the business in their specialist area(s) of expertise. The specialist areas may include, risk, financial crime, compliance, modelling and analysing data, customer due diligence, cyber security, governance, anti-money laundering, Environmental, Social & Governance (ESG) and climate risk.
A senior compliance and risk specialist manages complex problems, implements any new legal and regulatory requirement and works with senior people in the organisation.
As working from home becomes more common, proficiency in digital communications is a core requirement to communicate with the business and other members of the team.
In their daily work, an employee in this occupation interacts with senior personnel in their organisation and others who engage in risk-based activities. They are required to manage differing views and influence others to achieve collaborative solutions including regulators/ legislative experts/ policy staff.
An employee in this occupation will be responsible for planning and developing courses of action to maintain risk and compliance in line with organisational risk appetite and regulatory requirements. They will also initiate and lead tasks and processes, taking responsibility, where relevant, for the work and roles of others and the allocation of resources.
There will be a need to exercise broad autonomy and judgement adhering to ethical standards and applying technical expertise whilst applying deep underpinning knowledge of risk and compliance frameworks, policies, and procedures. This knowledge may cover compliance or risk functions or be a blend of both depending on the organisation.
The employee in this area of work has the capability to influence senior members of the organisation as there can often be differing views on the appropriate action to take. Employees will need to possess excellent communication and negotiation skills as well as resilience and persistence when ensuring policy and plans are implemented to conclusion.
This is a summary of the key things that you – the apprentice and your employer need to know about your end-point assessment (EPA). You and your employer should read the EPA plan for the full details. It has information on assessment method requirements, roles and responsibilities, and re-sits and re-takes.
An EPA is an assessment at the end of your apprenticeship. It will assess you against the knowledge, skills, and behaviours (KSBs) in the occupational standard. Your training will cover the KSBs. The EPA is your opportunity to show an independent assessor how well you can carry out the occupation you have been trained for.
Your employer will choose an end-point assessment organisation (EPAO) to deliver the EPA. Your employer and training provider should tell you what to expect and how to prepare for your EPA.
The length of the training for this apprenticeship is typically 36 months. The EPA period is typically 5 months.
The overall grades available for this apprenticeship are:
When you pass the EPA, you will be awarded your apprenticeship certificate.
The EPA gateway is when the EPAO checks and confirms that you have met any requirements required before you start the EPA. You will only enter the gateway when your employer says you are ready.
The gateway requirements for your EPA are:
For the senior compliance and risk specialist, the qualification required is:
CISI Diploma in Investment Compliance
IRM International Certificate in Enterprise Risk Management
IRM International Certificate in Financial Services Risk Management
IRM International Diploma in Risk Management
CBI Certificate in Climate Risk
ICA International Diploma in Governance, Risk and Compliance
ICA International Diploma in Financial Crime Prevention
ICA International Diploma in Anti Money Laundering
ICA International Diploma in Managing Sanctions Risk
CICM Level 5 Diploma in Credit and Collections MCICM (Grad)
Professional discussion underpinned by a portfolio of evidence
You will have a professional professional discussion with an independent assessor. It will last 90 minutes. They will ask you at least 10 questions. The questions will be about certain aspects of your occupation. You need to compile a portfolio of evidence before the EPA gateway. You can use it to help answer the questions.
Project with report and Presentation with questions
You will complete a project and write a report. The title and scope must be agreed with the EPAO at the gateway. The report should be a maximum of 3500 words (with a 10% tolerance).
You need to prepare and give a presentation to an independent assessor. Your presentation slides and any supporting materials should be submitted at the same time as the project output. The presentation with questions will last at least 60 minutes. The independent assessor will ask at least 8 questions about the project and presentation.
The EPAO will confirm where and when each assessment method will take place.
You should speak to your employer if you have a query that relates to your job.
You should speak to your training provider if you have any questions about your training or EPA before it starts.
You should receive detailed information and support from the EPAO before the EPA starts. You should speak to them if you have any questions about your EPA once it has started.
If you have a disability, a physical or mental health condition or other special considerations, you may be able to have a reasonable adjustment that takes this into account. You should speak to your employer, training provider and EPAO and ask them what support you can get. The EPAO will decide if an adjustment is appropriate.
This apprenticeship aligns with The Chartered Institute for Securities and Investment (CISI) for full membership of the Institute and MCSI designatory letters.
Please contact the professional body for more details.
This apprenticeship aligns with The Institute of Risk Management for recognition as a Certificate Member (IRMCert) when completing the Certificate qualifications and Graduate Member (GradIRM) when completing the Diploma.
Please contact the professional body for more details.
This apprenticeship aligns with The Chartered Banker Institute for recognition as a Certificated Member (CCBI) and able to use the professional designation ‘CRP’ (Climate Risk Professional).
Please contact the professional body for more details.
This apprenticeship aligns with The International Compliance Association for access to full professional membership of the ICA and permits the use of the MICA designatory letters.
Please contact the professional body for more details.
This apprenticeship aligns with The Chartered Institute of Credit Management for Graduate Membership MCICM(Grad).
Please contact the professional body for more details.
| Version | Change detail | Earliest start date | Latest start date |
|---|---|---|---|
| 1.1 | End-point assessment plan, standard and funding revised. | 04/02/2023 | Not set |
| 1.0 | Approved for delivery | 19/09/2016 | 03/02/2023 |
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