Compliance Officer Job Description
A compliance officer is someone whose job is to ensure that the operations of an organization comply with required rules, regulations and laws. Their job involves interpreting and implementing required policies, procedures and laws, checking for issues of non-compliance and reporting them to management.
A compliance officer should be inquiring, observant, firm and impartial, and have the ability to think critically and solve problems. They should have good understanding of their organizations laws and ethics. They should also be able to conduct research, prepare and present reports, and analyze and explain procedures, laws and regulations.
Pursue a career as a compliance officer if you are interested in monitoring people or organizations to ensure they follow required rules and regulations.
What does a Compliance Officer do?
Compliance officers may do some or all of the following:
- read, interpret and implement required policies, procedures and laws
- liaise with compliance investigators and concerned parties
- evaluate and analyze the organization’s practices and operations to identify issues of non-compliance
- report non-compliance issues to management
- give advice on compliance issues
- write and present reports on compliance issues
- stay up to date with regulatory developments
- provide compliance training and guidance to the organizations employees
Where does a Compliance Officer work?
Compliance officers usually work normal office hours, but may sometimes work overtime and weekends. They work in offices, factories, and workshops.
What is Required to Become a Compliance Officer?
A bachelor's degree is usually the minimum requirement for entry level positions in the field. Some companies may prefer to hire candidates with a degree in disciplines such as accounting, business administration, or law, while others may prefer to hire candidates with a degree in disciplines related to their trade.
Knowledge, Skills and Attributes
Compliance officers need to have:
- integrity and impartiality
- confidence and courage
- good attention to detail
- good listening and communication skills
- good organizational skills
- good judgment and decision making skills
- analytical and problem-solving skills
- negotiation and leadership skills
- research and presentation skills
- math and computer skills
- observational skills
- the ability to work well under pressure
- the ability to address and manage confidential issues
- the ability to work well independently and in a team
- knowledge of accounting
- knowledge of the required regulations, rules and policies
Should I be a Compliance Officer?
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