Compliance Specialist
A compliance specialist ensures that a company adheres to legal standards and in-house policies. They are responsible for enforcing regulations and ensuring all company operations are in compliance with laws and regulations.
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Sample Job Descriptions for Compliance Specialist
Below are the some sample job descriptions for the different experience levels, where you can find the summary of the role, required skills, qualifications, and responsibilities.
Junior (0-2 years of experience)
Summary of the Role
As a junior Compliance Specialist, you will support the compliance team in ensuring that our operations and business transactions follow all relevant legal and internal guidelines. Your duties will include reviewing employee work, developing company policies, and responding to policy violations.
Required Skills
- Effective communication both verbally and in writing.
- Analytical and critical thinking.
- Time management and organizational skills.
- Proficient with MS Office or related software.
Qualifications
- Bachelor's degree in law, finance, business administration or a related field.
- Understanding of general compliance procedures and regulations.
- Good research skills and attention to detail.
- Ability to work collaboratively in a team-oriented environment.
- Strong ethical standards and a high level of integrity.
Responsibilities
- Assist in the development and implementation of compliance-related policies and procedures.
- Review and evaluate company procedures and reports to identify possible risks or compliance issues.
- Conduct regular audits to ensure compliance with regulations and internal policies.
- Stay up-to-date with industry changes that may impact the company's compliance program.
- Participate in employee training sessions on legal and compliance issues.
- Collaborate with other departments to create a culture of compliance throughout the organization.
- Assist in the investigation of compliance issues and the preparation of reports to management.
- Support the compliance team in the management of compliance systems and documentation.
Intermediate (2-5 years of experience)
Summary of the Role
The Compliance Specialist ensures that the organization adheres to legal standards and in-house policies. They are responsible for enforcing regulations in all aspects and levels of business as well as providing guidance on compliance matters.
Required Skills
- Familiarity with industry practices and professional standards.
- Excellent organizational skills.
- Ability to work with a variety of stakeholders, including upper management.
- Proficiency with or the ability to quickly learn about new regulatory software and systems.
- Strong interpersonal and presentation skills, along with the ability to communicate effectively with others at all levels of the organization.
Qualifications
- Bachelor's degree in law, finance, business management, or a related field.
- 2-5 years of proven experience as a Compliance Officer, Compliance Specialist, or similar role.
- Good knowledge of legal requirements and procedures.
- Brilliant oral and written communication skills.
- Highly-analytical with strong attention to detail.
Responsibilities
- Develop and implement an effective legal compliance program.
- Create sound internal controls and monitor adherence to them.
- Draft and revise company policies.
- Proactively audit processes, practices, and documents to identify weaknesses.
- Evaluate business activities (e.g., investments) to assess compliance risk.
- Collaborate with external auditors and HR when needed.
- Set plans to manage a crisis or compliance violation.
- Educate and train employees on regulations and industry practices.
- Address employee concerns or questions on legal compliance.
- Keep abreast of internal standards and business goals.
Senior (5+ years of experience)
Summary of the Role
The Compliance Specialist will oversee the company's regulatory compliance program, ensuring that all practices are in adherence to the relevant laws and standards. This senior-level position involves developing compliance strategies, monitoring changes in regulations, conducting internal audits, and advising management on compliance matters.
Required Skills
- Strong knowledge of legal requirements and controls (e.g. Anti-Money Laundering, or AML).
- Familiarity with industry regulatory standards and compliance regulations.
- Exceptional research skills to understand and interpret new legislation.
- Excellent analytical skills with an attention to detail.
- Strong communication and presentation skills.
- Proven ability to develop compliance strategies and solutions.
- Efficient organizational skills with the ability to manage multiple projects.
- Proficiency in compliance software and systems.
Qualifications
- Bachelor's degree in law, finance, business administration or a related field.
- Proven experience as a Compliance Officer or Compliance Specialist.
- Familiarity with industry practices and professional standards.
- Excellent communication skills.
- Integrity and professional ethics.
- Business acumen.
- Teamwork skills.
- Attention to detail.
Responsibilities
- Develop and implement an effective legal compliance program.
- Create sound internal controls and monitor adherence to them.
- Draft and revise company policies.
- Proactively audit processes, practices, and documents to identify weaknesses.
- Evaluate business activities to assess compliance risk.
- Educate and train employees on regulations and industry practices.
- Address employee concerns or questions on legal compliance.
- Stay abreast of internal standards and business goals as well as external regulatory developments.
- Work with external auditors and HR when conducting hiring, training, and evaluations.
- Prepare reports for senior management and external regulatory bodies.
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