What Types of Finance Jobs Are in Risk and Compliance?

risk and compliance jobs

The types of finance jobs in risk and compliance are usually found in banking, insurance, investment and health care organizations. Most of these risk- and compliance-based finance jobs will require a background in accounting or finance and training in risk or compliance management.

Internal Auditor

Internal auditors organize and conduct audits of financial, operational and compliance practices. They evaluate adherence to established policies, federal laws and industry standard procedures. Afterwards, they offer constructive analysis and legal appraisals of company financial performance. They recommend changes policies, financial controls, operations reports, internal controls and operational procedures. They support audit management in the development and execution of audit plans and projects for specific departments or facilities. They help establish each audit projects’ scope, objectives, exposures and risk management goals.

Internal auditors will analyze procedures and reports to determine if potential problems exist. They may use standard risk and compliance tools to determine the extent of danger. They appraise the effectiveness of internal controls relative to the safeguarded assets. Internal auditors may work for in-house risk or compliance departments, or they may work for private consulting companies. Finance auditors are usually affiliated with a professional organization like the Institute of Internal Auditors or the American Institute of Certified Public Accountants.

Compliance Officers

Compliance officers are responsible for monitoring business operations and processes for compliance with policies government regulations. They provide education to employees, conduct formal research and participate in investigations and audits. They encourage adherence to sound business practices, company policy and industry best practices. They may help manage compliance programs and serve technical experts for ethical behavior and decision making. They maintain awareness of emerging laws, changing regulations and recommended policy updates.

Compliance officers promote an awareness and understanding of ethical guidelines and moral principles that are consistent with the company’s mission and the government’s laws. They are expected to identify compliance risk areas within the organization by monitoring enterprise-wide programs, actions and policies. They conduct compliance reviews to investigate adherence with industry standards and legal standards. They may analyze financial and operational data to ensure the accuracy and integrity of financial statements. They may also work with IT and information management personnel to analyze and implement solutions to maintain compliance in revenue activities.

Portfolio Analyst

Portfolio analysts usually work for global investment management firms to help investors achieve their financial objectives. Portfolio analysts deliver distinct investment management capabilities and services. They provide operational oversight and support of investment activities in things like mutual funds and global accounts. They analyze trade processing, account set-up, cash investment activities and account settlements. They exercise independent judgment to research and resolve risk sensitive issues. They work with custodians and counterparties to identify and problem solve potential financial risks and non-compliance issues.

Portfolio analysts verify process for data integrity, ensure communication of trades to appropriate fund representatives and confirm trades through various internal applications and external trade counterparties. They liaise with brokers, vendors, custodians and internal departments to resolve trade issues. On any given day, this may involve equities, municipals, foreign stocks, private bonds and other traditional asset classes. They monitor and troubleshoot all trade fails. They use custodian, fund accounting and other third-party programs to resolve trade exceptions.

Concluding Thoughts

The types of finance jobs in risk and compliance also include compliance consultant, IT auditor, sales analyst and risk project manager.

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