Working in regulation and compliance

Regulation is a specific aspect of finance which ensures that financial institutions conform to legal requirements and operate fairly. Regulators also provide information to consumers to protect them from improper practices. In Ireland, regulation is the responsibility of the Central Bank of Ireland. Financial firms employ compliance officers to ensure that the regulators’ requirements are followed. These may not necessarily be known by this job title and may be part of an accountancy role.

What does working in regulation involve?

You will analyse firms and financial markets and implement regulatory policy. Starting out, you may help supervise a small bank or be involved with the development of policy. The Central Bank of Ireland offers a graduate programme which accepts applications in Autumn. Financial firms such as hedge fund managers often have compliance functions within their finance departments.

Qualifications for working in financial regulation

Regulatory authorities typically seek 2.1 graduates from numerate or law disciplines but do accept applications from other disciplines. For compliance functions, check the websites of specific employers. To work in regulation or compliance, good communication and analytical skills are essential.

Financial regulation: a changing industry

The regulatory authorities affect change in the financial services industry but also are affected by change. Financial scandals over the years have increased the profile of the regulatory authorities and provided them with new challenges