Compliance Officer Job Description: Top Duties and Qualifications

A Compliance Officer, or Compliance Manager makes sure that an organisation complies with internal and external regulations. Their duties include working with management and staff to identify regulatory risks and designing internal controls to ensure compliance within the organisation. 

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Compliance Officer duties and responsibilities 

The daily duties of Compliance Officers often depend on the organisation and their speciality area. However, they are often responsible for ensuring compliance with professional standards and internal standards and their main duties and responsibilities  include: 

  • Performing routine risk assessments to help organisations understand compliance risk, scope and significance 
  • Monitoring the organisation’s compliance with regulations and internal policies to ensure they are up to date with the relevant laws 
  • Educating employees on compliance regulations and the impact of non-compliance on the organisation 
  • Recording their findings properly and following up with management to ensure the issues are rectified 
  • Reviewing marketing materials, websites and presentations to ensure compliance with regulations 
  • Assisting in the gathering of information internally in response to requests by regulatory organisations 
  • Performing administrative tasks such as file creation and maintaining files of ongoing projects
  • Collaborating with management from other departments to ensure compliance and investigating irregularities 
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What does a Compliance Officer do? 

Compliance Officers are heads of the compliance department. They play a significant role in helping companies meet compliance requirements such as the anti-money laundering laws and the UK skilled persons appointment policies. They also help organisations keep updated with the latest global and local regulatory standards. 

Compliance Officers must anticipate and guide organisations from missteps that may result in hefty legal fines and damage the organisation’s reputation . They are typically hired in-house and work for 35 to 40 hours per week. Some employers may prefer to hire Compliance Officers on a contract basis, while others prefer full-time employees. 

Compliance Officer skills and qualifications 

Successful Compliance Officers are proficient with local and international laws, standards and the auditing techniques and procedures relating to their organisation. A successful Compliance Officer will have various prerequisite skills and qualifications that typically include: 

  • Critical problem-solving skills and the ability to make informed decisions quickly
  • Excellent analytical skills and the ability to interpret information rapidly
  • Attention to details and the ability to comprehend information thoroughly and understand its significance
  • Excellent leadership and management skills 
  • High ethical standards 
  • Excellent verbal and written communication skills 
  • Good interpersonal and conflict management skills 
  • Excellent presentation and public speaking skills

Compliance Officer experience requirements 

Most compliance employers do not have a strict set of criteria for work experience. Compliance Officers with at least three years of experience as Compliance Officers, Financial Analysts, Compliance Managers or Paralegals are often preferable. They must have experience with risk management, legal requirements and controls, industry practices and professional standards. Other professions that may help candidates develop the required skills include Pre-Employment Screening Coordinator, Administrative Executive and Customer Service Manager. 

Compliance Officer education and training requirements 

Essential courses that may help candidates develop the required compliance skills include a bachelor’s degree in economics, business studies, business administration or law. Candidates with a master’s degrees in business administration, law, accounting or other business fields are preferable. Compliance Officers can also take certification programmes such as the Certified Compliance and Ethics Professional Programme to complement their degrees. 

Compliance Officer salary expectations

According to Indeed Salaries, the average salary for a Compliance Officer in the UK is

 £34, 468 per year depending on factors including experience, education, location and company. 

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Compliance Officer job description FAQs

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

The main difference between the two is that an Internal Auditor provides evaluations of a company’s financial and business operations, while a Compliance Officer ensures that a company complies with internal and external laws and government regulations. 

What makes a Compliance Officer job description stand out?

Some of the key features that make a Compliance Officer job description stand out include the job title, salary, benefits and keyword usage. Using the right job title, such as ‘Compliance Advisory Officer for Insurance Company Located in Wessex’, can help you capture the right audience and receive more relevant applications.

Also, offering competitive salaries and benefits will help your organisation attract more professional candidates with many years of experience in the field. You can additionally increase your job relevance in searches making it more visible to the right audience by using  the right keywords such as Insurance Auditor or Compliance Manager. 

Who does a Compliance Officer report to?

Compliance Officers usually report to the Chief Executive Officers or the Chief Operations Officers. 

What are the different types of Compliance Officers?

Compliance Officers are typically classified into two levels. Level 1 Officers usually observe compliance with external regulations that are imposed on the organisation, while level 2 Officers handle internal compliance and systems of control that assist with compliance with external regulations. 

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