In the third edition of our ‘Careers in Funds’ blog series Sarah Kavanagh | Senior Associate | Barden and expert in financial services career takes a look at Compliance and Regulation…
What is Compliance and Regulation?
Investment funds face a complex regulatory environment which must be adhered to. There are many laws and regulations under the EU and also the various different funds home domicile country. Within fund administration companies they have teams who look after the compliance and regulation of the various funds, as well as the AML (anti-money laundering) aspect of funds.
AML is a set of various controls to prevent money laundering by having policies, procedures and technology in place. These are set up to monitor any suspicious activity to ensure security and protection of the fund or investors’ money.
Careers in Compliance and Regulation
There are many different aspects to a compliance and regulation team including AML, fraud investigation, know your customer (KYC), regulatory compliance, risk, reporting. It can be a good place to start your career. You get to see many aspects of different funds and are involved in ensuring that they are compliant.
In many compliance and regulation roles there is an administration aspect that would require ensuring documentation, data bases etc. are correct and up-to-date as regulations may change or when a fund/investor becomes AML complete.
The areas of compliance, regulation and AML are not just for funds – they provide you with skills and knowledge which are used in all financial institutions. The beauty of this is that by working in compliance and regulation and gaining these skills you are ultimately developing key transferable skills which can be used beyond the world of funds.
Similar to the other aspects of funds we touched on in our previous blogs (see the links below) compliance and regulation is just one part of the puzzle, and it is one that gives you a broad view and understanding of how funds work.
Compliance and regulation teams as a whole are integral to financial institutions ensuring they are running securely.
To read the previous blogs in this series click on the following links:
Careers in Funds…Fund Accounting
Career in Funds…Investor Services
Sarah Kavanagh is a Senior Associate with Barden’s Financial Services practice. She is an expert in financial services careers, predominantly within the asset management and fund services space.
She is a UCC grad, holding a Bachelor of Arts (B.A.) in Economics & Psychology, and a MBS in Business Economics. She also went on to study and complete the Qualified Financial Advisor, Financial Planning & Services exams with The Institute of Bankers.
Sarah joined Barden in January 2020 and prior to that worked in various aspects of financial services including banking and asset management.
Get in touch with Sarah at firstname.lastname@example.org.