Do you have what it takes to become a financial compliance expert?

Compliance professionals are in demand in Singapore, as financial institutions address growing regulatory requirements imposed in the wake of the global financial crisis. Do you have what it takes to seize this career opportunity?

The demand for skilled compliance professionals in Singapore is at and all-time high, fuelled by rising regulatory requirements faced by financial institutions and a growing talent shortage. If you’re considering a career in financial compliance, here are some core fundamentals that you’ll need.


Acquire and hone skills for financial compliance

Do your skills match actual requirements and responsibilities in today’s Compliance roles? Measure your professional competencies against this example of a common financial compliance job description, and see how the IBF Standards can help you acquire the skills that you need:

Compliance Skills

Here is a list of IBF-accredited training programmes that will help you gain professional skills in compliance, as well other areas in Banking and Finance. Completing IBF accredited programmes and meeting relevant criteria will also allow you to apply for an industry-recognised certification title.

Financial practitioners can leverage on IBF Singapore’s MySkills Portfolio to gain a deeper understanding of the required qualifications and skills. The free online platform allows you to plan and manage your learning by receiving recommended training courses based on your career goals. You will also be able to use it to register for exams and track your training progress.

Exceptional communication skills is also a must

According to recruitment consultancy Robert Walters, when considering a job in the compliance profession, make sure you have exceptional communication skills.

Compliance professionals are required to communicate compliance-related issues to employees across the company, which may include deciphering abstract law or ethics and determining how to establish best practices.

Additionally, you also need to engage with regulators and business management seeking advice on compliance matters in a professional manner through effective communication, problem solving, and negotiation skills.

Have a good understanding of applicable regulatory requirements and developments

As a compliance officer, it is essential to know which regulatory requirements are applicable to your company, staff and the industries in which clients operate in. Some laws that apply to one jurisdiction or company may not necessarily apply to another. You can grow your understanding of relevant and applicable regulations by:

  • staying on the pulse of regulatory updates as compliance are constantly changing
  • growing a keen awareness of your company’s business and operations to know the relevant risks, liabilities and vulnerabilities
  • actively monitoring potential areas of risk or vulnerability for every client and staff

With demand for skilled compliance practitioners on the rise, there has never been a better time to access this growing job opportunity in Singapore. Who knows, the next compliance expert cracking a major financial fraud or taking down an international criminal group might just be you.

To learn more about the skills you’ll need to succeed in the future of finance, visit IBF Singapore’s MySkills Portfolio.