Nav Sohal - Director- EMEA FCC & Global Sanctions at Goldman Sachs
How did you get into FS regulation?
I started out by working in recruitment for banking in order to develop my product knowledge. From here I moved to a small consultancy firm where my first role was in a wider regulatory compliance setting before focusing my skills on combatting Financial Crime.
Was this your first career choice?
Working in Financial Services was always my first choice. Compliance followed on nicely from my degree in Physics as it allows me to help businesses evolve, whilst operating within/adhering to a set of governing laws/principles.
What were you doing before?
I focused on my education and held multiple part time roles including various Admin roles and working as a Personal Trainer.
What attributes do you possess that you believe have made you successful in your career?
Strong decision-making capabilities, ability to adapt as situations change, tenacity, networking and ability to deliver are some of my key attributes. In addition, I always remember that you never ever stop learning and that you can learn from anyone.
What qualities / qualifications do you look for when hiring staff?
I look for a balance as diverse experiences/backgrounds create a strong all-round team. Focus is placed on looking for candidates with relevant experience in a similar role. Depending on the size of the team I do look to give people opportunities and search for that passionate individual who can bring a fresh pair of eyes and has a willingness to learn and develop.
What advice would you give to a junior starting out?
Act like a sponge, have a plan and network. Do not try and specialise too quickly as you will be better served in the long term by first building a solid foundation. Make sure you have a development plan and every step you take helps you towards this. Very importantly be sure to network. There are so many ways to network and from experience I can say that it is most definitely a small world.
What do you believe will be the growth areas in FS regulation over the next 18 months?
5MLD, Expansion of Senior Managers Regime, KYC Utilities, Enhanced Use of Artificial Intelligence/Machine Learning in Compliance, Digital Banking, Cryptocurrency, Blockchain and technology initiatives to reduce cost of compliance.
And what about Brexit?
Brexit has seen organisations undergo a large scale of transformation. With the completion of the recent General Election, political uncertainty is no longer a concern and only time will tell if this was truly the right step for the nation.
Which person (or persons) has had the biggest impact on your career to date?
I have been fortunate enough to have many people in my life (previous managers, colleagues, mentors etc) who have helped me develop my career. Whilst I would like to mention them all, I’ll focus on my initial manager in the industry. This person gave me my first opportunity and created a platform for me that, with hard work, allowed me to be where I am today.
Finally, how do you unwind when you're not in work?
Spending time with my family, travelling, fitness, cycling and cooking.
If you're interested in learning more about Nav, you can check out his LinkedIn Profile here.
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