Compliance Manager Career

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

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Compliance Manager Career

What Compliance Managers do:

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

What work activities are most important?

Importance Activities

Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.

Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.

Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.

Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.

Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.

Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.

Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.

Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.

Monitor Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.

Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.

Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.

Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.

Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.

Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

Provide Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.

Judging the Qualities of Things, Services, or People - Assessing the value, importance, or quality of things or people.

Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.

Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.

Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.

Estimating the Quantifiable Characteristics of Products, Events, or Information - Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.

Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.

Staffing Organizational Units - Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.

Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.

Assisting and Caring for Others - Providing personal assistance, medical attention, emotional support, or other personal care to others such as coworkers, customers, or patients.

Performing for or Working Directly with the Public - Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.

Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money.

Holland Code Chart for a Compliance Manager

 

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