Apprenticeship Standard: Compliance/Risk Officer Level 3 Apprenticeship

Overview

By law, all financial services organisations have to meet a wide range of compliance and risk requirements. These areas might include data security, financial crime or operational risk. To meet these requirements many organisations will have dedicated risk and/or compliance departments with experts in the relevant subjects. They provide proactive support and guidance for the organisation, balanced with achieving appropriate customer outcomes. In some organisations, this expertise may be embedded within the different business areas themselves.

Trailblazer Group

The employer Trailblazer Group that created this Standard include Lloyds Bank, HSBC, Barclays, Santander, TSB, Skipton Building Society, Canada Life, Geoban, Sense, Aon Hewitt, Leeds Building Society, Nationwide, Cabot Financial and Lowell Group.

Role Suitability

Specific job roles may include: Compliance /Risk Officer.

Key Responsibility

Responsibilities are likely to include:

  • Support and advice to the business on their specific area(s) of expertise e.g. financial crime, training and competence, fraud
  • Working with the business on specific problems that emerge
  • Analysing data, maintaining records and producing reports
  • Working on reviews/audits to check that policies are being correctly applied.

Key Facts

Duration:

Typically this apprenticeship will take 15 to 18 months.

Timeframes are flexible depending on the employer and/or the apprentice’s ability to be successful on the programme.

Study Mode:

Our guided teaching is delivered through a mix of live webinars delivered by a BPP University tutor, 24/7 access to recorded lectures and online lecture notes. Including online teaching sessions with face-to-face inductions and masterclasses.

Students take part in live discussion with fellow learners during live webinars and via course forums.

Qualifications

Apprentices without level 2 English and Maths will need to achieve this level prior to taking the end-point assessment.

Knowledge, Skills and Behaviours

Skills

  • Delivering Services
  • Analytical
  • Problem Solving
  • Communication
  • Teamwork
  • Personal Development

Behaviours

  • Honesty
  • Integrity
  • Flexibility
  • Resilience

Assessment

The On Programme Assessment ensures the apprentice is making good progress towards achieving competency in the Knowledge, Skills and Behaviours of a Compliance/Risk Officer. At BPP Professional Education the apprentice will gain a recognised Level 3 qualification and all the examinations must be passed before sitting the End Point Assessment.

BPP Support

Both the apprentice and employer will be supported by a team of Programme Advisors and Skills Coaches who will ensure the apprentice completes the Knowledge, Skills and Behaviours required and is ready to sit the End Point Assessment.

Entry Requirements

The entry requirement for this apprenticeship will be decided by each employer, but may typically be five GCSEs at Grade C or higher.

Employer Requirements:

  • Provide apprentices with a contract of employment for the duration of the apprenticeship on the first day of their apprenticeship and be paid at least a wage consistent with the law for both the time they are in work and in off-the-job learning.
  • Employer must not ask the apprentice to contribute financially to the direct cost of learning.
  • Provide the apprentice with paid time to attend off-the-job training, including additional support for English and Maths, or support accessed for learning difficulties and/or disabilities.
  • Recognise that the apprentice must complete the apprenticeship within their working hours.
  • Ensure apprentice spends at least 20% of their time in off the job training.
  • Enter into a contract with BPP University.
  • Support the apprentice to gain new skills.

Apprentice Requirements:

  • Be in full-time employment for at least 30 hours a week.
  • Be an employee (have a contract of employment for the duration of the apprenticeship) on the first day of their apprenticeship and be paid at least a wage consistent with the law for both the time they are in work and in off-the-job learning.
  • A citizen of a country within the European Economic Area (EEA**) or have the right of abode in the UK, and have been ordinarily resident in the EEA for at least the previous three years on the first day of learning.
  • Not be enrolled on another apprenticeship at the same time.
  • Has the right to work in England.
  • Able to complete the apprenticeship in contracted working hours.
  • Be in a new job role (nine months or less), or in an existing job role, where significant new Knowledge and Skills are needed – employer statement of justification needed (relevant to the apprenticeship).

Progression

On completion, the compliance / risk officer route may be a gateway to further career opportunities, either remaining in the compliance/risk area or other areas of the business.

Costs and Government Funding

Employers will be able to draw up a funding cap of £9000 per apprentice from the Digital Voucher Service to cover the training costs for this Apprenticeship Standard.