Our Compliance Specialist job description includes the responsibilities, duties, skills, education, qualifications, and experience.
About the Compliance Specialist role
A Compliance Specialist is responsible for ensuring that an organization is adhering to regulatory and legal standards. They monitor the implementation of policies, investigate potential violations, and develop compliance plans with the goal of avoiding penalties or sanctions. Compliance Specialists also provide feedback and advice to management on how to best ensure adherence to regulations.
Role Purpose
The purpose of a Compliance Specialist is to ensure that an organization's operations and activities comply with applicable laws, regulations, and internal policies. They review legal documents, conduct research on laws and regulations, and advise management on how to remain compliant with all relevant requirements. Compliance Specialists also work to detect, prevent, and resolve any potential compliance issues. In addition, they audit existing processes and procedures, and develop new ones as needed.
Compliance Specialist Summary
The Compliance Specialist is responsible for monitoring and enforcing corporate policies and procedures to ensure compliance with relevant laws and regulations. The specialist works closely with corporate personnel, government agencies and other external entities to ensure compliance with applicable laws, regulations and industry standards. The specialist provides advice and guidance on compliance issues and works to resolve any non-compliance issues in a timely manner. The specialist also assists in developing and implementing company compliance policies, procedures and systems. The specialist must be knowledgeable in relevant laws and regulations and possess excellent communication, interpersonal and organizational skills.
Compliance Specialist Duties
- Develop and implement compliance plans, policies, and procedures
- Monitor organizational compliance with applicable laws, regulations, and standards
- Provide guidance and training on legal and compliance topics
- Conduct internal audits and investigations to identify potential risks
- Analyze data and review documents to ensure compliance
- Collaborate with internal stakeholders to address compliance issues
- Ensure compliance with relevant laws, regulations, and standards
- Keep abreast of changes in relevant legislation and industry best practices
- Assist with the implementation of new regulatory requirements
Compliance Specialist Skills
- Analyzing corporate policies and procedures
- Developing, implementing and managing compliance policies and procedures
- Monitoring regulatory changes
- Conducting internal audits
- Ensuring compliance with applicable laws and regulations
- Assisting with investigations and due diligence
Compliance Specialist Requirements
- Bachelor's Degree in Accounting, Finance, Business Administration, or a related field
- At least three years of experience in internal audit, compliance, risk management, and/or operational roles
- Knowledge of laws and regulations related to compliance and operational issues
- Ability to interpret and analyze financial data
- Excellent communication and interpersonal skills
- Proficient in Microsoft Office Suite
Personal Traits
- Strong attention to detail
- Excellent interpersonal and communication skills
- High level of integrity
- Ability to multi-task
- Results and customer oriented
- Strong analytical and problem solving skills