How to answer this Ethics and Integrity interview question about Regulatory Compliance for Mid-Level KYC Analyst?

How do you stay updated with changing KYC regulations and ensure compliance in your work?

KYC Analyst

Ethics and Integrity

Asked at

HSBC

Difficulty :

Medium

Explanation

This question evaluates your commitment to staying current with regulatory changes and applying them to your KYC processes. Recruiters are looking for candidates who proactively keep themselves informed and ensure compliance in a dynamic regulatory environment. A strong answer will include specific resources and methods used to stay updated, as well as examples of applying new regulations. Avoid failing to address the importance of regular training.

Answer Example

I stay updated by subscribing to regulatory updates from organizations like FATF (Financial Action Task Force) and participating in compliance training programs. For instance, when the 6th EU AML Directive was introduced, I attended a workshop to understand the new requirements and updated internal procedures accordingly. This ensured that my work remained compliant and aligned with the latest standards, minimizing regulatory risks.

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