Compliance Managers
What is a Compliance Manager?
A Compliance Manager is a professional responsible for ensuring that an organization complies with legal and regulatory requirements, as well as internal policies and procedures. They play a crucial role in mitigating risks and maintaining the organization's integrity by developing, implementing, and monitoring compliance programs. Compliance Managers conduct regular audits, assess potential risks, and provide guidance on legal requirements related to the industry in which the organization operates. They work closely with various departments to promote a culture of compliance throughout the organization, ensuring that all employees understand their obligations regarding regulatory standards. Compliance Managers also serve as a liaison with regulatory agencies, facilitating communication and addressing any compliance-related inquiries or issues. Overall, their primary aim is to protect the organization from legal penalties and reputational damage by fostering adherence to applicable laws and regulations.
Tasks
- Report violations of compliance or regulatory standards to duly authorized enforcement agencies as appropriate or required.
- Identify compliance issues that require follow-up or investigation.
- Discuss emerging compliance issues to ensure that management and employees are informed about compliance reporting systems, policies, and practices.
- File appropriate compliance reports with regulatory agencies.
- Maintain documentation of compliance activities, such as complaints received or investigation outcomes.
Technology Skills
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Electronic mail software
- Email software
- HCL Notes
- Microsoft Outlook 365
- Presentation software
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Compliance software
- Actimize Brokerage Compliance Solutions
- MetricStream Enterprise Compliance Platform
- Oracle Enterprise Governance, Risk, and Compliance Manager
- Thomson Reuters Connected Risk
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Internet browser software
- Safari
- Microsoft Edge
- Firefox
- Web browser software
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Analytical or scientific software
- Data analysis software
- Horwath Software Magique
- Stata
Tools Used
- Photocopiers
- Notebook computers
- Laser printers
- Special purpose telephones
- Laser fax machine
Knowledge
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Law and Government
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
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English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
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Administration and Management
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
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Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
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Personnel and Human Resources
Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
Skills
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Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
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Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
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Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
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Speaking
Talking to others to convey information effectively.
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Writing
Communicating effectively in writing as appropriate for the needs of the audience.
Abilities
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Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
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Problem Sensitivity
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
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Written Expression
The ability to communicate information and ideas in writing so others will understand.
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Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
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Inductive Reasoning
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Education
How much education does a new hire need to perform a job in this occupation?
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Bachelor's degree
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Master's degree
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High school diploma or equivalent
or: GED, High School Equivalency Certificate
Work Activities
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Communicating with Supervisors, Peers, or Subordinates
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
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Evaluating Information to Determine Compliance with Standards
Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
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Getting Information
Observing, receiving, and otherwise obtaining information from all relevant sources.
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Working with Computers
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
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Documenting/Recording Information
Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
Detailed Work Activities
- Communicate with government agencies.
- Identify actions needed to bring properties or facilities into compliance with regulations.
- Communicate organizational policies and procedures.
- Advise others on legal or regulatory compliance matters.
- Maintain regulatory or compliance documentation.
Work Interests
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Conventional
Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
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Enterprising
Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
Job Outlook
Projected salary and job growth
$67370.0 - $225120.0
This career will grow rapidly in the next few years and will have large numbers of openings.
Assessment
Related assessments and tests
No assessment available.