CERI has just created a Compliance Services team specializing in trade finance operations. Verification of transactions for sanctions and embargoes or compliance with the law is a daily occurrence here. Piotr Maślak (Director of Security and Compliance at CERI) and Kim Wüllenweber (Managing Director) talk about the details of the work and recruitment of the team.
The ideal candidate? Always up to date!
What skills and character traits do you find useful in working at Compliance?
Peter: We are primarily looking for people who would like to be part of an international business. To be successful in this area, you need to be skilled not only in compliance but also eager to expand your knowledge. The world of compliance is constantly changing – constant modification of regulations requires constant review and updating of knowledge. And these regulations are not local – they include European and international regulations. In order to evaluate a full set of transactions, you need to have analytical skills, be a kind of detective, be able to understand the business, and sometimes read between the lines.
Another highly desirable skill is attention to detail. It is essential when reviewing documents, website content, and materials received as part of the process.
The third point may seem very obvious: compliance changes very often – so the need for self-improvement is crucial. Processes are not simple, every transaction is different, so it is not a boring 8 am to 4 pm job.
Between KYC, AML, and trade finance
What does working in the Compliance Services team entail?
Q: Working in Compliance has many similarities to the KYC field. What you see at first glance can be accepted as such, but it can also mean that there is a second bottom. Throughout the process, we are the “good guys.” We are the ones who are expected to detect any fraud, suspicious activities, money transfers for terrorist financing, or money laundering (AML). Therefore, we can’t rely on the content of documents alone but must investigate much deeper. Check, for example, whether the product portfolio corresponds to the contracting parties, whether the representatives are not covered by sanctions, and whether the transport route does not cause additional risks.
We work mainly with European subsidiaries, including those in Germany. We also have a partner in Kuala Lumpur who works in a different time zone. The language of communication in international trade is English, but we are open to speakers of other languages.
Kim: A deep understanding of many issues is needed. For example, what Compliance is, what the sanctions are, and whether we are dealing with a business or a red flag transaction. So analytical skills are desirable, which also involve detailed policies and laws. We also need to remember that in the current times (Russia’s invasion of Ukraine), the topic of sanctions is an important part of the work in Compliance.
The way to a long-term career path
What about candidates without experience? Should they apply for the job?
Q: Definitely yes, we are prepared to give all the necessary knowledge to people who are just starting their career in this field. We provide all the necessary training and support. Rapid changes in the world of finance are increasing the importance of working in Compliance. If someone is thinking about building a long-term career path, then our offer is the right choice.
K: From a candidate’s perspective, there is one thing worth mentioning. Whether you are interested in trade finance or Compliance, this job opens the door to a career in both areas. The experience you gain can also be the start of your career as a coordinator or team leader.
Q: Living by certain rules is part of human nature and makes us feel secure. Joining our “compliance family” demonstrates that you have a strong ethical backbone and are willing/ready to make sure you follow the rules.
