Compliance Specialist Interview Questions and Answers

I am proficient in managing Excel application.

• I am skilled in using Excel functions such as VLOOKUP, Pivot Tables, and Macros.

• I can create and modify spreadsheets to meet specific needs.

• I am able to analyze data and generate reports using Excel.

• I have experience in data entry and data validation in Excel.

• I am familiar with Excel shortcuts and can work efficiently with large datasets.

ISO 27001 focuses on information security management system while SOC2 Type 2 audit focuses on controls related to security, availability, processing integrity, confidentiality, and privacy.

• ISO 27001 is an international standard that focuses on establishing, implementing, maintaining, and continually improving an information security management system (ISMS).

• SOC2 Type 2 audit is a report based on the Trust Services Criteria, which focuses on controls related to security, avai...read more

The three steps in Money Laundering are placement, layering, and integration.

• Placement: The initial stage where illegal funds are introduced into the financial system.

• Layering: The process of moving the funds through a series of complex transactions to obscure the audit trail.

• Integration: The final stage where the laundered funds are reintroduced into the legitimate economy.

BCMS is implemented through a structured approach involving planning, implementation, monitoring, and continual improvement.

• Develop a BCMS policy outlining objectives and scope

• Conduct a risk assessment to identify threats and vulnerabilities

• Implement controls to mitigate risks

• Train employees on BCMS procedures and protocols

• Regularly test and evaluate the effectiveness of the BCMS

• Review and update the BCMS as needed based on changes in the organization or external factors

Money laundering is the illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source.

• Money laundering involves three main stages: placement, layering, and integration.

• Placement is the initial stage where the illegal funds are introduced into the financial system.

• Layering involves moving the funds around to make it difficult to trace their origin.

• Integration is the...read more