It’s an exciting time to be in the risk & compliance sector because there is a lot of change happening that is being driven by the regulators. Therefore, there are plenty of opportunities to get involved in many key critical projects for a variety of organisations.
Future proofing is starting to happen.
The area of risk & compliance has historically been dominated by the banking and financial services sectors.
However, the big new topic of conduct risk (which is doing right by your customers and operating morally) is filtering down to other commercial businesses, where in the past risk has not been on the agenda. You are now seeing board members becoming key sponsors of risk & compliance projects and enterprise risk frameworks being developed to protect the business and its directors.
Separate yourself with your mindset and soft skills.
Gone are the days where you needed core industry experience. Technical skills are still important, but you also need to be someone who understands what the business is trying to achieve and how you can help the business be successful.
You cannot just come in from an advisory angle, you need to have a tailored approach. If you are putting in place a compliance framework, how does that set the business up for success and also protect it? You need to have a commercial and strategic lense, know how to build relationships and how to communicate with the board and CEO.