Just saw this post about GS automatically flagging their emails if they contain certain keywords and sending them to compliance for review: https://www.wallstreetoasis.com/forums/the-red-fl…
What does an analyst or associate in compliance actually do all day? Just going thru all the flagged emails and documents?
| +519 | Change My Mind: Banks Shouldn’t Hire Foreigners at All | 122 | 6s |
| +317 | Article - UBS’ Investment Bank Keeps Losing Ground | 40 | 5h |
| +301 | Don’t work at UBS - UBS Sucks | 30 | 3h |
| +79 | Should My Intern Get a Return Offer? | 31 | 1h |
| +60 | When to Leave Office as Intern | 8 | 3d |
| +49 | Best IB Group Overall? | 28 | 4h |
| +39 | Would you rather be a Touse Squid or a Bouse Mogger in IB | 2 | 3d |
| +33 | What do you say to ppl who don’t know EVR/LAZ/CVP/PJT | 28 | 8h |
| +31 | STEM student lost in London IB recruiting | 17 | 1d |
| +29 | F*ck it I'm Going to Med School | 12 | 30m |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Try to ruin our day
More like making sure you don't ruin the firm.
found the compliance hardo
I wanna know the day by day breakdown
same
When I worked at UBS they would check our books before we could send them out to clients which always seemed to frustrate the higher ups
how long does it take them to check each version
There was only one version. It was quick, but still annoying to have to deal with.
I hate compliance
I am all for reasonable oversight to ensure best practices but a lot of times it's just ridiculous.It slows down the process, it costs way too much, and it absolutely kills innovation.
Most days, it feels like compliance's job is just to make my/my colleagues' jobs needlessly more difficult/annoying..
walk the long way from their area to my desk to shit on me (intern) for saying fuck in an email
Well when i was an intern they would screenshot my skype conversations with my associate and send them to my md and highlight that i said fuck
Thank God compliance at my firm doesn't look at Skype.
This is actually hilarious, no way the MDs got mad at this
The morning is spent reviewing hundreds and hundreds of flagged (and non-flagged) emails. 99.9% of the flagged ones are nothing to worry about, those that could be are resolved via email/phone call. Lots of those that do need a follow up are related to unapproved sales literature/advertising, which can also take a couple of hours per day. But before the sales lit can get approved, the client has to be onboarded so you dig through the information they have provided through the customer identification program, and jump through the FINRA anti-money laundering hoops to make sure it's okay to do business with them (OFAC, FinCen, background checks, due diligence, etc.)
Those are the main three tasks compliance handles each day, the other ones pop up on a much more sporadic basis (some new hire items, updated the restricted/watch list, fixing any employee brokerage accounts that aren't syncing, etc.) Finally at midnight you post on wall street oasis instead of studying for another FINRA exam.
Aliquam nostrum perferendis officiis. Molestiae exercitationem minima tempore voluptas qui mollitia. Ratione in ullam dolor nihil natus eum. Assumenda veritatis aut porro quam aut.
Molestiae porro et sint dicta eum asperiores illum. Quae ut quia aut itaque animi nulla. Distinctio et hic ipsum et eius ut nihil. Similique est voluptates dolorem.
Vel dolore et maiores et velit. Facere et voluptatem non accusantium nemo laudantium iure. Vero qui quaerat architecto officiis. Veritatis et dolor eveniet corporis fugiat beatae. Necessitatibus autem quia vero vero repudiandae distinctio expedita. Aut iure accusamus tempora dolores.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...