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Transfer of student visa to professional work permit

Hi,

I am currently a full time student at MMU.
I have been offered a job in a company recently. I am not sure what is the procedure for cancelling the student visa and transfer to the work permit visa.
Do I need to go back to my home country and come back?
How long does the procedure usually take?
with the recent changes in the immigration office, is it risky to cancel my student visa and apply for work permit? since the company that I am planning to work with is also telling me there have been some changes and it is more difficult and lengthier to get the visa done.

Thank you.

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