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Life at Deloitte
A day in the life of a Regulatory Consultant
By Shane Farrell from Risk Advisory
I did two summer internships with other professional services firms, and couldn’t recommend an internship with Deloitte more! Interns at Deloitte are given the same tasks and responsibilities as first year trainees.
What does your day to day job entail?
My work is project based and varies depending on the client, industry and nature of the project. To date no two projects have been remotely the same. In the past year I have worked on three projects with two clients; two longer ones with a short one in between.
My first project was review based and involved analysing how customers were treated in relation to their contractual and statutory rights. This involved reviewing legislation, contracts and also communication between the parties.
My second project was a short root-cause analysis whereby one of our clients acted outside of their CBI authorization and were required to report to the CBI on how this came to be.
At the moment I’m performing quality testing on an AML refresh program. This involves reviewing customers’ files to ensure the documentation held is sufficient to identify the customer, and is in line with statutory requirements.
What advice would you have for other students and graduates seeking to pursue a similar career path as yours?
Get involved as early as possible. Attend as many events as you can and have a chat to the speakers or organisers afterwards. Follow up with an email or connect on LinkedIn too, you never know how it may prove useful in future. In fact I got my current job by reaching out to a manager via LinkedIn.
I did two summer internships with other professional services firms, and couldn’t recommend an internship with Deloitte more! Interns at Deloitte are given the same tasks and responsibilities as first year trainees. During this time you’ll be able to showcase your abilities and also see if Deloitte is right for you. Finally, if nothing else you’ll have picked up transferable skills, a reference and a great name to add to your CV.
Two reasons which drew you to choose a career in Deloitte?
I spent some time after college working for a semi-state and a large investment bank. I enjoyed both of these roles but felt they lacked development and advancement opportunities.
The nature of my job is such that I’m always working on the latest regulatory developments in new environments. Each one with a new team, this means I’m always exposed to new ways of thinking, new insights and up to date technical knowledge. Deloitte’s training contract also provided me with the means to achieve a Diploma and professional designation in the field of compliance.
Deloitte has a highly structured training contract. Since I joined Deloitte just over a year ago I’ve been promoted from analyst to consultant, and aim to make senior consultant this year. With a lot of growth in the compliance sphere there’s a lot of business to be won and many areas for specialisation. This means there’s good scope to move up internally and also to practice in areas that most interest you.
What I like most about my role?
I love how much change there is from day to day, and from week to week. With each project being different in scope and application there’s never enough time for boredom to creep in. Also on the longer engagements the scope itself tends to change either as part of the project plan, or by way of adapting the plan to make it work in practice.
What else I have been involved with since joining?
Aside from client work I’ve also been involved in the Deloitte Cycling Club who go on frequent spins on weekends and larger Cycling Ireland events throughout the year. I helped out on some of the grad-recruiting events and did a short presentation in the RDS at GradIreland. Deloitte also organise a host of full day training sessions developed specifically with departments and peer groups in mind. These have been a great chance to meet up with other people at the same level and share our experiences.
College Attended: Trinity College Dublin.
Course Completed: Law and Business.
Professional Qualification: ACOI - Professional Diploma in Compliance.
Joined Deloitte: February 2016.