Compliance Officer Interview Questions and Answers

I prefer using a combination of COBIT and ISO 27001 frameworks for IT compliance audits.

• I prefer COBIT for its comprehensive coverage of IT governance and control objectives.

• I choose ISO 27001 for its focus on information security management best practices.

• Combining both frameworks provides a holistic approach to IT compliance audits.

Active Directory is a directory service developed by Microsoft for Windows domain networks, providing centralized management of network resources.

• Active Directory stores information about objects on the network such as computers, users, groups, and printers.

• It allows administrators to manage and secure resources within the network by assigning permissions and policies.

• Active Directory uses a hierarchical structure with domains, trees, and forests to organize network resources...read more

Compliance required for change in shareholding pattern and board composition as per RBI Master Direction.

• Prior approval from RBI required for any change in shareholding pattern resulting in change of management control

• Disclosure of shareholding pattern and changes to be made to RBI within 30 days

• Appointment of directors to be in compliance with fit and proper criteria

• Board composition to have at least one-third independent directors

• Annual compliance certificate to be submitte...read more

Compliance is the act of adhering to laws, regulations, and standards set by governing bodies.

• Compliance ensures that organizations operate within legal and ethical boundaries.

• It involves identifying and mitigating risks, implementing policies and procedures, and monitoring activities.

• Regulatory reporting is the process of submitting information to regulatory authorities to demonstrate compliance.

• Advanced Excel, Python, and Macros are useful tools for analyzing data and autom...read more

91 Crpc is a section of the Criminal Procedure Code in India that deals with summoning of witnesses.

• Section 91 of Crpc empowers a court to issue summons or order production of any document or thing that is necessary for the purpose of any investigation, inquiry, trial or other proceeding under the Code.

• This section is often used by investigating agencies to gather evidence and summon witnesses in criminal cases.

• The section also provides for the penalty of non-compliance with ...read more

I have a strong understanding of financial markets and keep up-to-date with current trends and regulations.

• I have completed courses in finance and economics

• I regularly read financial news and reports

• I have experience working with financial products such as stocks, bonds, and derivatives

• I am familiar with regulatory bodies such as the SEC and FINRA

• I have worked closely with traders and investment bankers in my previous roles

OOPS stands for Object-Oriented Programming System. It is a programming paradigm based on the concept of objects.

• OOPS is a way of organizing and designing code around objects

• It allows for encapsulation, inheritance, and polymorphism

• Encapsulation means that data and methods are kept together in a single unit, or object

• Inheritance allows for the creation of new classes based on existing ones

• Polymorphism allows for objects to take on multiple forms or behaviors

• Examples of OOPS l...read more

Process explanation and share definition

• Process explanation involves breaking down a complex process into simpler steps

• It helps in identifying potential risks and implementing controls

• Share refers to a unit of ownership in a company or organization

• Shareholders are entitled to a portion of the company's profits and have voting rights

• Compliance officers ensure that the company follows regulations related to shares and ownership