Compliance Manager Job Description: Top Duties and Qualifications

A Compliance Manager, or Compliance Supervisor enforces policies and plans programmes to ensure the legal and ethical integrity of a company. Their duties include ensuring that departments adhere to the rules and regulations that a company upholds, planning reports and discussing new rules and regulations with management. 

 

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Compliance Manager duties and responsibilities 

Compliance Managers are responsible for creating both long-term and short-term plans or goals to ensure that no illegal activities occur in the workplace. Some of their daily duties and responsibilities include: 

  • Conducting interviews and surveys to ensure that employees are compliant with regulations across the company’s various departments
  • Conducting investigations to discover the root cause of compliance problems when they arise
  • Performing research to stay informed about environmental standards 
  • Educating employees and partners through documentations and brochures on how to improve compliance 
  • Examining and improving auditing processes to resolve compliance issues fast or prevent them entirely 
  • Hosting meetings with employees to address any concerns that they may have about ethical and compliance matters within a department or industry 
  • Motivating employees to not only strive to meet compliance standards, but also to exceed them for operating efficiency 
  • Leading and helping in the design of programmes that improve compliance 

 

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What does a Compliance Manager do? 

Compliance Managers identify issues with legality and ethics and resolve them as fast as possible. When there’s a breach, Compliance Managers will use their professional expertise to find ways to  enforce discipline. Compliance Managers often work in upper management. They have to ensure that non-compliance issues do not jeopardise the company’s reputation and integrity. They may decide to fire individuals who breach regulations or file lawsuits depending on the loses that occur. 

 

Compliance Manager skills and qualifications 

Compliance Managers often work in fast-paced environments they should therefore be well-organised and quick to respond to problems when they occur. A successful Compliance Manager candidate will have various prerequisite  skills and qualifications that typically include: 

  • Excellent problem-solving skills and the ability to make critical decisions with little information available 
  • Excellent analytical skills and the ability to analyse and interpret information quickly 
  • In-depth understanding of industry standards and regulations 
  • Excellent understanding of reporting procedures and record-keeping 
  • Excellent project management skills and the ability to be methodical and diligent
  • Detail orientation and the ability to pay attention and identify minimal changes in regulations 
  • Excellent conflict management skills and the ability to dissolve any issues easily 

 

Compliance Manager experience requirements 

Compliance Managers need at least three years of experience in financial services, compliance management, legal practice, consultancy and other managerial areas. They must have proven working experience in UK conduct regulations, regulatory change management requirements and applicable laws. Some risk management roles may also provide candidates with the experiences and transferable skills required in compliance work. 

 

Compliance Manager education and training requirements 

The minimum education requirement for a Compliance Manager is a bachelor’s degree in law, finance, business administration or other related fields. However, some employers prefer candidates with master’s degrees in business-related courses. Additional training in compliance management, industry standards and regulations, risk and information control and governance of enterprises can also be helpful. 

 

Compliance Manager salary expectations 

According to Indeed Salaries, the average salary for a Compliance Manager in the UK is  £33,913 per year, depending on factors like experience, education, location and company. 

 

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Compliance Manager job description FAQs

 

What's the difference between a Compliance Manager and an Internal Auditor?

An Internal Auditor ensures that a company follows the proper procedures and functions efficiently. They provide objective evaluations of the financial and operational business activities. A Compliance Manager ensures that a company complies with external regulatory requirements and internal policies. 

 

What makes a good Compliance Manager job description?

A good Compliance Manager job description does not seek the average job seeker. It demands a higher level of experience to attract more experienced Compliance Managers. For instance, candidates with over 10 years of experience in a managerial or risk assessment fields can qualify for senior positions that pay more. In addition, good Compliance Manager job descriptions indicate average salaries to attract serious candidates. 

 

What should you look for in a Compliance Manager CV?

A good Compliance Manager CV is well-organised, clear and concise. Look for proof of skill in the experience section. For instance, candidates who claim to have the ability to build a strong relationships list, must have relevant working experience to prove this. 

 

Who does a Compliance Manager report to?

Compliance Managers typically report directly to the Chief Executive Officers (CEOs) or Chief Operating Officers (COOs). Some companies may require Compliance Managers to report to Chief Compliance Officers, who in turn report to the CEOs or COOs.

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