How to answer this Ethics and Integrity interview question about Sanctions Compliance for Entry-Level Compliance?

What steps would you take to ensure compliance with sanctions regulations when onboarding a new client?

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Compliance

Ethics and Integrity

Asked at

Westpac

Difficulty :

Easy

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Explanation

This question evaluates your knowledge of sanctions compliance and your ability to implement it during client onboarding. Recruiters are looking for your understanding of sanction screening tools, risk assessments, and adherence to international regulations. Common pitfalls include failing to address key steps like screening or not considering jurisdictional differences. A strong answer demonstrates a structured approach to sanctions compliance and risk mitigation. Preparation involves reviewing OFAC, UN sanctions, and regional guidelines.

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Answer Example

I would start by conducting a comprehensive sanctions screening using tools like World-Check or Dow Jones Risk & Compliance. Next, I would assess the client’s business activities and ownership structure to identify potential risks. If any red flags are identified, I would escalate the case to the compliance team for further review. For example, I flagged a potential sanctions issue during onboarding, which led to additional due diligence and ensured the organization avoided regulatory penalties.

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