Compliance managers need a solid background in statistical, analytical and organizational skills. Candidates should possess the ability to collaborate and build partnerships with multiple business units within a company. A bachelor’s degree in business or accounting is expected; an advanced degree is preferred. At least two to four years of related experience and proficiency in computer applications is required. A professional certification in the field of auditing or compliance is preferred.
Typical duties of a compliance manager
- Creating and reviewing regulatory compliance documentation
- Coordinating the creation, review and implementation of policies and procedures resulting from new laws and regulations
- Applying and interpreting audit and compliance requirements for various departments
- Working closely with the compliance director and other senior executives
- Designing and coordinating the preparation and ongoing review of policies, procedures, training materials and other communication tools to ensure departments meet compliance requirements
- Coordinating regulatory exams and internal business unit audits
- Interacting with external auditors on matters related to audits of the organization’s internal controls
- Establishing self-audit and compliance monitoring programs
- Reviewing and assessing potential fraud activity and developing fraud detection tools
- Filing regulatory reports and other documentation
- Coordinating rollout and training of new or updated policies and directives when required
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