A Compliance Manager coordinates the creation, review and implementation of policies and procedures established by the agencies that regulate the company. Compliance Managers apply and interpret audit and compliance requirements for various departments, interact with external auditors regarding the organisation's internal controls and assess potential fraud activity and develop fraud detection tools. The most in-demand Compliance Managers are those with a solid background in statistical, analytical and organisational skills.
The responsibilities of a Compliance Manager vary depending on industry but typical responsibilities are as follows:
- Conducting compliance workshops
- Conducting risk assessment training programs
- Conducting internal reviews and audits
- Conducting environmental audits to ensure the company meets environmental requirements
- Advising internal management and business partners on the implementation of compliance programs
- Developing risk management strategies
- Following up on compliance issues that require investigation
- Evaluating compliance systems and establishing proper compliance procedures
- Reporting on compliance
A bachelor’s degree in the following fields will be beneficial for a career in compliance:
- Business Studies
That said, employers are likely to consider applicants who hold degrees in the field of the industry they’re working in.
Compliance Managers must have excellent communication skills, both verbal and written. An analytical mind is also a must, and the ability to prioritise and manage multiple projects.
Please note, this is an average across various industries. To compare your salary, and receive data on salaries for your sector, visit our salary calculator.