Associate Consultant Interview

Can you discuss your experience conducting compliance research related to both domestic and international laws?

I have worked on compliance in my internship at Samisti legal where I had the opportunity to prepare a compliance checklist for a due diligence report for a client company which provided dialysis services throughout India. As part of this task, I researched on various central and state laws which are applicable to the client company. As per my research few compliance requirements were to get license under drugs and cosmetics act, under shops and establishments acts of various states, GST registration, if it had TAN, PAN, compliance with environmental laws, etc. I also helped my seniors in drafting the compliance manual for the firm.

Your answer provides a solid foundation for discussing your experience in compliance research. You effectively mention a specific internship at Samisti Legal, where you were involved in preparing a compliance checklist for a client in the healthcare sector. This specificity is commendable, as it illustrates your hands-on experience with compliance work. Additionally, you highlighted the types of laws you researched, which showcases your understanding of the regulatory landscape, both at the central and state levels in India.

However, to enhance your response, consider a few improvements:

1. Context and Scope: Briefly explain the significance of compliance in the healthcare industry, emphasizing how non-compliance could impact the client. This will show your awareness of the broader implications of your work.

2. International laws: Since the question specifically asked about both domestic and international laws, it would be beneficial to mention any relevant international regulations or frameworks you are familiar with, even if that knowledge was more theoretical or academic.

3. Outcomes and Results: If possible, mention any positive outcomes that arose from your work, such as how the checklist you prepared was received or how it helped the client in their compliance processes.

4. Role in Team Dynamics: Elaborate briefly on how you interacted with your seniors and contributed to drafting the compliance manual, which would convey your teamwork and communication skills.

Rating: 3.5/5.

Adding these elements would not only make your answer more comprehensive but also demonstrate a deeper understanding of compliance research's complexities.

How do you approach updating a compliance repository, and what tools or methodologies do you use?

To update the compliance repository, I will use the following methodologies: quantitative and qualitative. Quantitative methodology deals with using numericals, graphs, numbers for research and qualitative is using normal research

Your answer touches on important methodologies (quantitative and qualitative) that can be used in updating a compliance repository, but it lacks depth and specificity. Here’s a breakdown and evaluation of your response:

1. Definitions: While you’ve correctly identified quantitative and qualitative methodologies, you didn't elaborate on how each methodology applies specifically to updating a compliance repository. For instance, quantitative methods could involve analyzing compliance metrics and trends using data analytics, while qualitative methods might include reviewing policy changes or stakeholder interviews.

2. Practical Tools: You didn’t mention any specific tools or technologies that could aid in updating a compliance repository, such as compliance management software (like RSA Archer or MetricStream), databases (like SQL), or project management tools (like Trello or JIRA). Including these would demonstrate your practical knowledge.

3. Process Overview: Your answer could benefit from including a brief overview of the process itself. How would you prioritize updates? How would you ensure accuracy? Mentioning steps like conducting risk assessments, cross-referencing with regulations, and involving stakeholders would strengthen your response.

4. Outcome Focus: Discussing the goals and outcomes of maintaining a compliance repository, such as risk reduction or enhanced regulatory adherence, could add context.

Overall, while your answer outlines basic methodologies, it lacks practical application and detail. You could improve it by specifying how you would apply these methodologies in a real-world context, including the tools you would use and the steps you would take.

Rating: 2/5

Describe a situation where you identified compliance requirements that were critical to a client. What process did you follow?

As part of my ingternship at Kochhar, I had the opportunity to research on labour laws which are applicable to companies in India. Since, new labour codes were introduced, I also identified the differences between the old codes and the new codes. Few of the compliance requirements are registration with shops and establishments act, equal remuneration act, etc

Your answer provides relevant information regarding your experience with compliance requirements in the context of labor laws during your internship at Kochhar. However, the response could be improved by being more structured and detailed about the entire process you followed in identifying and addressing these compliance requirements.

To enhance your answer, consider including the following elements:

1. Specific Situation: Describe a particular scenario or project where identifying these compliance requirements made a difference for the client. This would give your answer more context and significance.

2. Process: Outline the specific steps you took in identifying the compliance requirements. For instance, mention how you conducted research, consulted relevant stakeholders, analyzed the impact of the new codes, and how you ensured that the client would meet these requirements.

3. Outcome: Reflect on what happened as a result of identifying these compliance requirements. Did it help the client avoid penalties? Did it improve their operational efficiency? Providing measurable outcomes can make your answer more impactful.

4. Personal Impact: Share any skills or insights you gained from this experience that would be relevant to a consulting role.

Based on these points, I would rate your answer 3/5. It includes relevant details but lacks the depth and structure to fully address the question. Focusing on a specific situation, outlining your process, and describing the outcomes would significantly strengthen your response.