Compliance Manager Salary Guide
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A Compliance Manager is responsible for ensuring that the company is conducting its business in full compliance of with all national and international laws, including regulations this will involve the creation, review and implementation of policies and procedures and best practices within the industry. Compliance Managers apply and interpret audit and compliance requirements for various departments. They will interact with external auditors on matters related to audits of the organisation's internal controls, and assess potential fraud activity, plus develop fraud detection tools as well as do any GAP analysis on best practices and make sure that there is a robust risk and compliance framework in the organisation.
Compliance Manager duties and responsibilities of the job
The most in-demand Compliance Managers are those that have good experience with implementing various standards, and have ensured compliance with different regulatory board. The responsibilities in a Compliance Manager job description can vary depending on industry, but typical responsibilities are as follows:
- Conducting compliance risk assessment training workshops
- Conducting internal reviews and audits
- Conducting operational audits to ensure the company meets operational 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 ensuring adequate software is in place
- Reporting on compliance
- Dealing and being the point of contact for the regulators
- Conducting regular GAP analysis on new and updated controls and best practices in the industry
Compliance Manager job qualifications and requirements
A Bachelor’s degree in the following fields will be beneficial for a Compliance Manager role:
- Business Administration
- Graduate Diploma in Compliance and AML
- CAMS certified
A Compliance Manager job description should include excellent communication skills, both verbal and written. An analytical mind is also a must, and the ability to manage and prioritise work.
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