Compliance Manager Interview Question:

Basic Compliance Manager Job Interview Questions:

Submitted by: Muhammad

☛ Why is the position open?
☛ If someone was previously in the position, what were the circumstances of his/her departure?
☛ Prior to hiring me, would you permit me to meet privately with the chair of the board or committee responsible for compliance oversight?
☛ What keeps you up at night?
☛ For any prior government sanctioned infraction, what are the lessons learned? What changes have been made?
☛ What do you believe to be the greatest regulatory compliance risks facing the company?
☛ What do you believe to be the greatest business risks facing the company?
☛ What do you believe to be the greatest geographic risks facing the company?
☛ Describe the relationship between the company and the regulators
☛ What are the main challenges for a CCO in the coming nine months?
☛ Are there any areas where the compliance program is not meeting management or board expectations?
☛ Do you believe employees are comfortable in reporting potential ethical/compliance infractions?
☛ Have you ever had an outside evaluation of your compliance program?
☛ Is there anything you believe management can do to support the compliance program?
☛ What is the budget/staffing for the Compliance function?
☛ What are the reporting lines for the role?
☛ Can the CCO veto a Due Diligence target?
☛ At what stage is the compliance department involved in establishing a relationship with a business partner?
☛ At what stage is the compliance department involved in the M&A process?
☛ Is it customary for the CCO to sit in operations meetings pertaining to new products and market initiatives so as to advise the business on risk?
☛ What role do you see Compliance playing in management meetings?
☛ What is the formal frequency of reporting to the Board and what is the policy for Board reporting on an as needed basis?
☛ Have executives in your organization ever walked away from a business opportunity for ethical and/or compliance concerns?
☛ Do you feel ethics/compliance is an essential part of a successful business or something that's just a reality you have to deal with these days?
☛ Do you think that ethical business practices do in fact lead to a more successful business if done the right way?
☛ How do you view the compliance officer – as part of the business or an external function?
☛ What did or didn't you like about working with their former CCO?
☛ What sort of questions have you raised to the previous Compliance Officer? Have questions been purely technical or have they extended to broader business practices?
☛ What do you and Board leadership think about regulatory compliance risk and whether it is viewed proactive or only reactively?
☛ How do you think compliance can be a strategic partner in achieving your goals? Is it more just “keep us out of trouble?”
☛ Are there ways you believe the compliance program could be a strategic advantagefor the company in terms of its health and growth?
☛ How would you describe the values of the leadership team and what does the tone at the top look like?
☛ Who has authority to fire me?
☛ What are you offering in the way of liability protection?
☛ Am I free to engage my own counsel if necessary in a response to a government investigation?
☛ Can I go to outside counsel on issues before discussing with General Counsel?
Submitted by: Muhammad