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Career Description

Plan, direct or coordinate activities of an organization to ensure compliance with ethical or regulatory standards.

What Job Titles Compliance Managers Might Have

• Compliance Coordinator
• Compliance Manager
• Compliance Officer
• Director of Compliance

What Compliance Managers Do

• Maintain documentation of compliance activities, such as complaints received or investigation outcomes.
• File appropriate compliance reports with regulatory agencies.
• Conduct or direct the internal investigation of compliance issues.
• Identify compliance issues that require follow-up or investigation.
• Report violations of compliance or regulatory standards to duly authorized enforcement agencies as appropriate or required.
• Disseminate written policies and procedures related to compliance activities.
• Conduct periodic internal reviews or audits to ensure that compliance procedures are followed.
• Serve as a confidential point of contact for employees to communicate with management, seek clarification on issues or dilemmas, or report irregularities.
• Provide employee training on compliance related topics, policies, or procedures.
• Verify that all firm and regulatory policies and procedures have been documented, implemented, and communicated.
• Discuss emerging compliance issues with management or employees.
• Keep informed regarding pending industry changes, trends, and best practices and assess the potential impact of these changes on organizational processes.
• Advise internal management or business partners on the implementation or operation of compliance programs.
• Consult with corporate attorneys as necessary to address difficult legal compliance issues.
• Direct the development or implementation of compliance-related policies and procedures throughout an organization.
• Monitor compliance systems to ensure their effectiveness.
• Prepare management reports regarding compliance operations and progress.
• Provide assistance to internal or external auditors in compliance reviews.
• Design or implement improvements in communication, monitoring, or enforcement of compliance standards.
• Assess product, compliance, or operational risks and develop risk management strategies.
• Collaborate with human resources departments to ensure the implementation of consistent disciplinary action strategies in cases of compliance standard violations.
• Oversee internal reporting systems such as corporate compliance hotlines and inform employees about these systems.
• Review communications such as securities sales advertising to ensure there are no violations of standards or regulations.
• Verify that software technology is in place to adequately provide oversight and monitoring in all required areas.

What Compliance Managers Should Be Good At

• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• 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 there is a problem.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
• Near Vision - The ability to see details at close range (within a few feet of the observer).
• Speech Recognition - The ability to identify and understand the speech of another person.
• Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
• Speech Clarity - The ability to speak clearly so others can understand you.

What Compliance Managers Should Be Interested In

• Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
• Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

What Compliance Managers Need to Learn

• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
• 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.
• 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.