Dodd-Frank
The Dodd-Frank Act is a major law passed in 2010 that changed how financial companies operate in the United States. Think of it as a rulebook that banks and financial firms must follow to prevent another financial crisis like the one in 2008. When candidates mention Dodd-Frank on their resumes, they're showing they understand these important rules and how to keep companies following them. This is similar to other financial regulations like Sarbanes-Oxley (SOX) or the Bank Secrecy Act (BSA). It's a key term that appears in jobs related to banking, finance, and especially compliance roles.
Examples in Resumes
Led team responsible for ensuring company adherence to Dodd-Frank regulations
Developed training programs to educate staff on Dodd-Frank compliance requirements
Successfully managed Dodd-Frank reporting and documentation processes
Created risk assessment frameworks aligned with Dodd-Frank Act guidelines
Typical job title: "Compliance Officers"
Also try searching for:
Where to Find Compliance Officers
Professional Associations
Online Resources
Job Boards
Example Interview Questions
Senior Level Questions
Q: How would you implement a Dodd-Frank compliance program from scratch?
Expected Answer: A strong answer should cover creating policies, training programs, monitoring systems, and reporting procedures. They should mention involving stakeholders, setting up controls, and ensuring board oversight.
Q: How do you stay current with Dodd-Frank regulatory changes?
Expected Answer: Look for mentions of regulatory update services, professional memberships, attending conferences, and maintaining relationships with regulators and industry peers.
Mid Level Questions
Q: What are the key reporting requirements under Dodd-Frank?
Expected Answer: Should be able to explain basic reporting timelines, what needs to be reported, and to which agencies, in simple terms without getting too technical.
Q: How would you handle a potential Dodd-Frank violation?
Expected Answer: Should discuss investigation procedures, documentation, reporting to management, and developing corrective actions.
Junior Level Questions
Q: What is the main purpose of the Dodd-Frank Act?
Expected Answer: Should explain that it's designed to prevent financial crises and protect consumers, with basic understanding of main requirements.
Q: What are the basic components of a compliance monitoring program?
Expected Answer: Should mention regular reviews, documentation, training, and reporting of issues.
Experience Level Indicators
Junior (0-2 years)
- Basic understanding of Dodd-Frank requirements
- Compliance monitoring and reporting
- Document management
- Basic risk assessment
Mid (2-5 years)
- Compliance program management
- Training development and delivery
- Risk assessment and mitigation
- Regulatory reporting
Senior (5+ years)
- Compliance strategy development
- Program implementation
- Stakeholder management
- Regulatory relationship management
Red Flags to Watch For
- No knowledge of basic financial regulations
- Lack of attention to detail in compliance work
- No experience with compliance documentation
- Unable to explain regulatory requirements in simple terms
- No understanding of risk assessment
Need more hiring wisdom? Check these out...
Navigating Compliance: Structuring On-the-Job Training in Regulated Industries
Global Compliance Checks: The Hidden Puzzle Pieces of Background Screening Revealed
Salary Transparency Laws: What HR Leaders Need to Know
