Most Important Skills for a VP Compliance and Operational Risk at a Large Bank
Karin, a VP of Compliance and Operational Risk at a large bank, emphasizes the importance of strong communication skills, particularly "talking to people especially when the going gets tough," to navigate sensitive situations and achieve collaborative risk mitigation. Further, interpreting complex regulations and effectively translating them into "Layman's language" for branch staff are crucial for practical application and buy-in.
Communication, Regulatory Knowledge, Risk Management, Relationship Building, Legal Interpretation
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Karin Lin
VP, Compliance and Operational Risk
Large Bank
UC Berkeley, 2005
UCLA - Anderson School of Business / MBA
Political Science, American Studies
Finance (Banking, Fintech, Investing)
Finance
Honors Student, Scholarship Recipient, Pell Grant Recipient, Took Out Loans, Immigrant, Worked 20+ Hours in School, First Generation College Student
Video Highlights
1. Excellent communication and relationship-building skills are crucial for delivering sensitive messages constructively and fostering teamwork.
2. Deep understanding and interpretation of regulations are essential, requiring attention to detail and the ability to analyze legal texts.
3. Ability to translate complex legal and compliance requirements into clear, concise, and relatable terms for non-legal audiences is vital for effective implementation and buy-in across the organization.
Transcript
What skills are most important for a job like yours?
Relationship building and communication skills are very important in any job. You need to learn how to talk to people, especially when the going gets tough. In positions like compliance and operational risk, we often have to tell people they've done something wrong or suggest areas for improvement.
This kind of messaging is sensitive. People don't like to hear they're doing something wrong, especially when they feel they're already doing their best and are very busy. Being able to communicate in a non-blaming way, realizing we're all on the same team working toward the same goal of mitigating risk, is crucial. We all have different perspectives and approaches.
The second skill is understanding regulations. I've sat in rooms with attorneys, examining regulations and laws. We analyze punctuation like commas and semicolons because they can change the meaning of a sentence. This can impact procedures, how we build automated systems, and ensure compliance with requirements.
Finally, the most important skill is speaking in layman's terms. Compliance professionals are often very close to the law and spend a lot of time with attorneys. Sometimes, the meaning gets lost when trying to share this information with people at the branches. They need to understand why a requirement matters, what's in it for them, and why they should comply, even if it means more work. Making that connection is vital.