What does a compliance manager do?
The job of a compliance manager is to ensure that the activities of a company are in compliance with local/national laws, ethical standards and regulatory policies. As a part of the compliance manager's job role, the professional is involved in developing policies and strategies and implementing them in a timely manner. Being a compliance lead, the job requires performing periodic audits and designing control systems that augment the efficiency within the framework of the internal regulations and policies. From leading training sessions to adhering to compliance regulations while implementing them, this role requires an analytical person, who knows the industry and its trends back to front.
You might hire a compliance manager to:
- Maintain and execute the compliance programs of the company as compliance project manager
- Monitor the applicable laws, stay on top of the dynamic laws and regulations and make changes to the system as and when required
- Safeguard and secure the data of the company and ensure that it is kept private
- Collaborate and work alongside a senior compliance manager, to develop policies that adhere to the laws and regulations
- Liaise with stakeholders and other senior executives to develop new company-wide policies
Introduction
At [Company X], our premise for success lies in our strong foundations of policies and regulations that comply with the highest of ethos. We’re seeking a seasoned compliance manager to help us uphold our company-wide policies, in the most efficient and effective approach. The compliance manager role requires the candidate to be proficient in the developing and transitional compliance laws of the country. Working as a compliance lead, the candidate in question must take charge of curating policies and strategies and effectually transfer this knowledge to the employees. The compliance manager job involves high proficiency in some soft skills such as communication, organisational abilities, and strong interpersonal skills, as it involves liaising with different stakeholders, internally and externally.
Objectives of this role
- Monitoring the current policies and systems in place and ensuring that it complies with legal and regulatory laws
- Train the employees on the laws and regulations, so there is no ambiguity in the compliance and risk for the jobs that they perform
- Learn, unlearn and relearn the dynamic changing ecosystem of compliance and regulatory laws of the country
- Report to, and liaise with the senior compliance manager and make decisions based on the guidance received by them
- Curate and maintain control systems to identify and handle breaking of rules and any violations
Responsibilities
- Supervise all the business processes that involve compliance and regulations
- Take timely actions to ensure compliance, both with national/local laws and internal policies of the company
- Make reports and documentation on potential compliance risks, as a compliance risk manager
- Establish and carry out proper training programs, so that the employees are aware of the laws and regulations they need to adhere to
- Carry out investigations to find gaps in the current strategies, which involve compliance and rectify them as per the regulatory guidelines
Required skills and qualifications
- Bachelor’s degree in law, business administration, or a similar discipline
- Prior experience working as a compliance manager or in a similar position
- Proficiency in industry trends, laws, and regulations
- Outstanding analytical skills and problem-solving abilities
Preferred skills and qualifications
- Experience in risk management or auditing
- Exposure to curating, executing and monitoring compliance projects
