Fincrime Career Tips and Tricks: To grow, rise in field, look for knowledge gaps, niches to specialize, set yourself apart

The Skinny:

  • In this new initiative, ACFCS engages the fincrime compliance community for wisdom and practical insights on how to enter and rise in a fulfilling but demanding and everchanging field.
  • Some of the questions: How can you take the first steps launching a career in the midst of a pandemic? And for those already working, how can you continue to develop professionally and take it to the next level?
  • For this tip, we travel to India to learn that a university professor who sits at the intersection of behavioral analytics, forensics, criminology and counter-crime compliance believes that theoretical understanding can only take you so far.
  • To rise in a field as broad and deep as fighting financial crime – which includes public and private sector groups such as bank compliance officers, regulators, investigators and auditors – you need to pair research prowess with practical, applied skills, a toolkit that may only be fully unlocked with the help of more experienced mentors.

By Brian Monroe
bmonroe@acfcs.org
July 13, 2021

With minor edits by ACFCS VP of Content, Brian Monroe

In this new initiative, ACFCS engages the fincrime compliance community for wisdom and practical insights on how to enter and rise in a fulfilling but demanding and everchanging field.

We are asking minds across the spectrum and around the world of compliance officers, regulators and investigators to share some of their secrets to success.

Some of the questions: How can you take the first steps launching a career in the midst of a pandemic? And for those already working, how can you continue to develop professionally and take it to the next level?

For this tip, we travel to India to learn that a university professor who sits at the intersection of behavioral analytics, forensics, criminology and counter-crime compliance, believes that theoretical understanding can only take you so far.

To rise in a field as broad and deep as fighting financial crime – which includes public and private sector groups such as bank compliance officers, regulators, investigators and auditors – you need to pair research prowess with practical, applied skills.

That could mean collaborating with current or former law enforcement agents to better see the world of organized criminal groups and complex, international money laundering syndicates through their eyes, at times through former mentoring programs.

With that as an overarching guide, budding professionals should also keep an ear to the ground for emerging criminal trends and historical knowledge gaps to build a specialization, a move that can further distinguish someone and give them an edge in a crowded field. 

Name: Vipin Vijay Nair

Organization: O. P. Jindal Global University   

Title: Assistant Professor

Country: India

What initially attracted you to the world of financial crime prevention? What keeps you here now?

The interest to know about the increase in economic offenses and the difference in behavior and motivation of economic offenders motivated me to study the discipline further.

I started understanding the intricacies and further started to advocate and educate the same to university students for their awareness

How did you overcome the experience gap for those new to their industry, field or country?

The detailed knowledge on financial crime [is in some cases] limited to law enforcement professionals in the country.

[That is why it is vital to develop] educational knowledge and hands on experience guided to bridge the gap [between] the theoretical education and the applied perspective.

What’s your advice to someone just starting out in the industry and wondering how to chart their career path?

Always pursue a specialized course that would give you an edge over the other colleagues.

Based on the edge, build your career and network with professionals that have similar interests to broaden your knowledge horizon.

Any advice or suggestions for job-seeking during the pandemic?

Virtual networking meetings act as the best option to interact and share new knowledge.

[As well, when institutions create remote job profiles, they should detail the skills and experience needed, ranking them] from basic to advanced fincrime tasks, which would promote the hiring of specialists.

Any other thoughts or guidance on getting started in fincrime careers to share?

Seasoned and Experienced FinCrime experts should mentor budding specialist (like a apprentice course) this would build confidence towards working in the FinCrime Sector.

Get involved in sharing your career tips: How It Works

Each quarter, ACFCS is asking its members for advice on various aspects of fincrime careers, from getting your foot in the door to finding a mentor.

This quarter, we’re focused on guidance for launching a career – everything from what motivated you to seek out a role in fincrime prevention, to where you’re seeing hiring opportunities and more.

We’ll gather responses and share them back with our member community. Three participants will receive one year of complimentary ACFCS members (added to your existing membership for current members).

To learn more and submit your tips, click here