A Day in the Life of a Risk & Compliance Specialist, Lili Lengyel, Top US Law Firm

Welcome to our blog series – A Day in the Life – where we demystify risk and compliance careers by sharing the insights and experiences of professionals to offer a behind-the-scenes look at their workday.

Navigating a career in risk and compliance can be confusing - a title at one firm may have a very different set of responsibilities than at another. By pulling back the curtain, we hope to shed light on what different professionals in different environments do and the challenges they face, and to show how diverse and rewarding a career in risk and compliance can be.

Meet Lili Lengyel, a Compliance Specialist at a Top US Law Firm. She takes us behind the scenes of her role, showing how she keeps the firm aligned, compliant, and ahead of the curve.

How did you get into compliance? How did you find out about this career path? Why did you choose to work in this space?    

Upon relocating to the UK, I was initially recruited for a dual-language compliance officer role at WTW, where I drafted a GAP analysis on Anti-Bribery and Corruption, Conflicts of Interest, AML, Complaints Handling, Sanction and Third-Party Payments.

I first discovered risk and compliance through chatting to recruiters.

Transitioning from a paralegal role to working in risk and compliance felt like a natural progression for me. Unlike traditional fee-earning positions, risk & compliance roles offer an alternative path for legal professionals seeking stimulating work and professional growth, whilst still enjoying a healthy work/life balance.

Tell us about your career journey so far and how it led to your current role. What were the key roles and experience that prepared you to get your current position?

My journey into risk and compliance has been a steady progression, shaped by a strong legal foundation and a deepening specialisation in anti-money laundering (AML) and client due diligence (CDD). Beginning with a JD law degree and a Paralegal Certificate, I initially gained insight into legal drafting before transitioning into compliance-focused role at AMLP Forum where I built my understanding of financial crime regulations, training and industry frameworks, which laid the groundwork for my roles at Seddons and Macfarlanes, where I developed hands-on expertise in conflict checks, AML reviews, and policy development. These experiences not only honed my analytical and regulatory knowledge but also strengthened my leadership skills through mentoring and training junior and mid-level analysts. This progression naturally led to my current role at a top US law firm where I manage complex risk assessments, oversee compliance processes, and contribute to firm-wide training and policy initiatives, reinforcing my commitment to regulatory excellence and strategic compliance.

What does a typical day look like in your role? Tell us about your responsibilities and what you get up to on a day-to-day basis.

I am in a dynamic role that blends strategic AML oversight with hands on KYC work. I spend a good chunk of my time on project work; for instance, updating PCPs, preparing a presentation on AML fines for senior management or drafting an agenda for a Compliance Committee/COLP meeting. Since I work in a small team, some aspects of my job revolve around on-boarding new clients or preparing an urgent background research for an American partner. No two days are the same in compliance and there is always something new to learn.

If someone shadowed you for a day, what do you think would surprise them the most?

Likely, the extent to which I collaborate with other business support departments. Through a well-established relationship with the marketing department, I learned that they utilize a software for pitches which can be also used for locating companies, directors or shareholders. I was able to secure two free accounts which compliments our current KYC solution.

What are the most rewarding aspect of your job?

I have found great satisfaction in being a trusted adviser for senior management, associates and business support team members who can turn to me for guidance on any tricky AML or client onboarding questions. Every day brings something new, whether it is a regulatory challenge, preparation for training or amending PCPs. Needless to say, that there is never a dull moment in compliance!

What are the biggest challenges you face in your role?

In a nutshell, the biggest challenge lies in balancing commercial pressures with regulatory obligation and increased supervisory scrutiny, whilst fostering a proactive compliance culture that mitigates risk before it becomes a liability.

What are the most valuable lessons you have learned by working in a risk and compliance role?

The three most valuable lessons I have learnt are:

A) Compliance is built on culture, not just on enforcing rules and policies. The effective way to achieve compliance is through tailored training, senior leadership buy-in and reinforcement of PCPs.

B) Know your regulator and think like them as well as understand them.

C) Documentation protects everyone.

What skills and attributes do you think are needed to excel in law firm risk and compliance career?

To excel in a risk and compliance role, you need to possess and demonstrate a well-rounded blend of technical knowledge and refined interpersonal skills, such as analytical thinking, research skills, adaptability and conflicts resolution.

What challenges do you think law firm risk and compliance professional will face in the future? How do you think risk and compliance will change over the next 10 years?

One of the most pressing issues in the risk and compliance space, particularly within the legal sector, is increased regulatory scrutiny. The recent AML fines issued to Clyde & Co and Simpson Thacher serve as a stark reminder to the legal profession that even well-established law firms can face significant consequences even if the risk of harm by the breaches was low.

The compliance landscape is likely to evolve significantly over the next decade, shaped by AI /new technology and further regulatory changes.

 

Thank you for taking the time to read this day in the life of a compliance professional!

We hope these pieces can offer useful insights, as there’s a lot to learn from each professional’s perspective, so make sure to explore the rest of the series to gain even more insights. 

If you’re curious to learn more - or you just want to chat about your next step in compliance - don’t hesitate to reach out. We’re here to discuss opportunities, provide support, and help you navigate your journey in compliance. 

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