As John Maxwell says, “We all need someone to help us in our pursuit of intentional growth and the right mentor helps you take massive leaps forward.”
In the realm of financial crime prevention, flash mentoring is revolutionizing the way professionals stay informed and prepared. This article explores its transformative impact on skills and strategies in the ongoing battle against financial wrongdoing. Join us to discover the power of flash mentoring in FinCrime.
The Cambridge Dictionary describes mentoring as “The act or process of helping and giving advice to a younger or less experienced person, especially in a job or at school.” During our career we can be sure that we will experience mentoring at some stage, either as a mentor or mentee.
Last year, as a new employee, I was lucky enough to be a part of flash mentoring session with Paul O’Hara, who is the Regional Head of Business Development and Sales for UK & Europe for the International Compliance Association (ICA). This was an incredible opportunity for me as I was just about to start ICA training and had many questions. Paul told me what I can expect as a student of the ICA, how best to manage the study material, how to be active listener and how to take in as much as possible from the live training sessions. His tips were very useful and gave me the confidence that with good preparation, the ICA assessment will be enjoyable to study for.
On April 18th 2023, as part of the Learning Day organised by the Fight FinCrime Community of Practice, I coordinated the flash mentoring session during which I experienced the different perspectives of flash mentoring. I could see how important these sessions are for both the mentor and the mentee. Shortly after opening registration the sessions were fully booked and new sessions with additional mentors had to be added. The mentors shared knowledge and experience they had in their area of expertise which was received positively by those who took part.
Let’s hear from mantee who took part in those sessions - Neha is an AML analyst:
Aleksandra: Neha, can you tell us what does flash mentoring mean to you please?
Neha: Flash mentoring was a valuable opportunity for me. It was beneficial for me to address specific questions, and challenges. Moreover, it helped my personal and professional development. I hope the mentees who have experienced flash mentoring might have gained new knowledge, insight, or perspectives from me which might have helped them progress in their career or pursue their goals more effectively. In addition to this, I gained new perspectives, and fresh ideas which really helped in my professional growth.
A: And what would you say to people who are not sure if flash mentoring is for them?
N: Well, I would say just give a try! it is not that difficult, as mentoring relationships, even in a flash format, can contribute to professional growth by helping mentees set goals, develop skills, and navigate their career paths more effectively. In addition to this, it can provide guidance and support for advancing one’s career. So, I would say it is beneficial for both the mentor and mentees.
A: What about future sessions? Would you consider taking part in that scheme next year?
N: Yes, I would definitely like to take part next year
A: Please can you tell us why you decided to take part in flash mentoring?
N: I decided to take part in flash mentoring as I want to develop my career. In addition to this, mentors sharing knowledge, skills and experiences with others can contribute to the growth and development of mentees by offering guidance and insights.
After looking at the flash mentoring experience from a mentee experience, let’s look at it from the perspective of a mentor. Tomasz is a seasoned AML and compliance professional with 13 years of experience spanning across the financial crime space. Tomasz’s job involves him being a highly committed and open-minded subject matter expert, delivering complex regulatory and strategic change projects, including multiphase large-scale system changes. According to Tomasz, flash mentoring is a good opportunity to meet new people in the organization and share a bit of his own experience. He added that it’s fun and is a good opportunity for questions that you would normally be afraid to ask.
As we can see flash mentoring is an opportunity for mentees to build a stronger network and make connections out with the mentee’s peers. For mentors it gives them the chance to empower and encourage employees to reach their full potential. Additionally for mentors, they can encounter new ways of thinking and look at some aspects of their work with a fresh perspective, which will have positive impact on their leadership skills. I would say be ready for next year- “We will be back”.
Author: Aleksandra Banasiak
The charity sector is often called the Tertiary Sector, the volunteer sector, the not-for-profit sector, the community sector or the civic sector. The aim of this sector is to generate social wealth rather than material wealth. Let's analyse it in the context of anti money laundering and compliance.More
Over 50 million people suffering and $150 billion in profits. Is the world coping with modern slavery? What steps should you take to improve the reality? Find out what role the financial sector has to play in detecting modern slavery.More
What are the main opportunities and threats attached to the digital transformation? Why do banks undergo digital transformation and how it impacts Finance, HR and Business Change functional areas? This article seeks to explore possible answers to those questions. Join us to learn more on this topic as we speak to NatWest Polska Leadership Team.More
The fight against financial crime is a key element in maintaining the integrity of financial systems, preventing money laundering, fraud and corruption, and ensuring a fair and transparent global economy. It builds trust in financial institutions and contributes to the overall stability of the global financial ecosystem.More
Whether it's simple conversations, programming, images, music, or even recipes; artificial intelligence (AI), driven by the ability to generate content, is commonly mentioned in a variety of environments. Technology is always evolving, and the current pace of this process can make it hard to keep up with. The multitude of possibilities for the use of artificial intelligence is huge, and the creativity of people enhances it enormously. Check what impact it has on Financial Crime.More
In the intricate realm of finance, where money flows across borders and transactions span the globe, the risk of falling victim to scams and encountering money laundering schemes is a constant concern. As financial technologies advance, so do the methods employed by criminals to exploit vulnerabilities. In this article, we'll delve into some of the latest financial scams and methods of money laundering, shedding light on these illicit activities and offering insights on safeguarding your financial interests.More