Every company must comply with legal standards and regulations and ensure that all departments follow a designated set of rules and policies.
This process is spearheaded by the compliance manager, which plays a huge part in preventing legal issues in the workplace.
This article explains the duties and responsibilities of a compliance manager and what skills you must look for when hiring or outsourcing one.
What is a compliance manager?
A compliance manager oversees a company’s legal requirements and ensures that all employees abide by the set rules and regulations.
This role can work in various company departments, from health and safety to technology, and conduct compliance training programs to ensure that employees are fully aware of and follow all company policies.
Additionally, part of a compliance manager’s job is enforcing the employee code of conduct. It ensures that all employees exhibit proper behavior and internalize company values and morals.
Duties of a compliance manager
Compliance managers have a wide range of responsibilities that contribute to a company’s success. Here are some of their day-to-day tasks:
Develop compliance strategies and policies
Compliance managers work closely with other departments to create and develop strategies that ensure legal compliance and align with current federal and state laws.
Conduct regular compliance reviews and audits
Companies must undergo internal audits to check if any compliance rules have been followed and continue to be followed.
The compliance manager conducts these reviews on a monthly or quarterly basis and reports them back to the designated authorities.
If a company is at risk of failing to comply with legal standards or requirements, it is the compliance manager’s job to mitigate these risks and prevent them from impacting the company.
Moreover, the compliance manager comes up with ways to avoid these risks altogether so the organization may run smoothly and not face any legal issues.
Facilitate employee training and education
It is the compliance manager’s responsibility to educate the employees on compliance standards and policies.
They help employees be aware of their responsibilities and the potential risks, and put all compliance policies into practice.
Skills and requirements needed in a compliance manager
Compliance managers must have specific qualifications to do their job well. If you are looking to hire or outsource a compliance manager, look out for these important skills requirements.
Certifications are not mandatory, but these help validate a compliance manager’s competencies and skills. Some certifications to look for include:
- Certified Regulatory Compliance Manager (CRCM)
- Certified in Risk and Information Systems Control (CRISC)
- Certified in Governance of Enterprise IT (CGEIT)
All compliance managers must have a clear knowledge and understanding of standard laws and regulations, including safety laws, health laws, and privacy laws.
Furthermore, a compliance manager must understand how to apply these laws in the company’s operations.
Compliance managers must be able to identify and solve problems before they escalate into big internal issues.
This includes addressing failure to comply and implementing countermeasures for these problems to ensure they do not happen again.
These experts coordinate with all departments in an organization, so communication with all employees is key.
They must be able to explain all compliance laws effectively so that everyone in the organization is fully aware of and understands them.
Compliance managers facilitate various projects, such as training programs and conducting audits. They must have the necessary project management skills in order to accomplish these effectively.
Where to hire a compliance manager
You can hire a compliance manager from various channels, such as the following:
- Job boards. You can find potential compliance manager candidates to interview through job boards such as LinkedIn, Indeed, or Glassdoor.
- Recruitment agencies. Recruitment agencies that specialize in compliance management are also a good source of candidates.
- Online communities. You may find compliance manager candidates on online communities, such as social media or forums that specialize in compliance management.
The salary of a compliance manager can vary depending on the skill level and experience of the candidate.
The table below shows an estimated annual salary comparison according to experience.
On-site vs. Remote setup for a compliance manager
A compliance manager can work in an on-site setup or remotely. Both setups present advantages and disadvantages, so it all depends on what the company needs.
On-site compliance managers have easier access to all their materials and documents, which makes conducting reports and audits easier.
Additionally, on-site setups make it easier to communicate with other employees and supervisors to make the compliance process smoother.
However, some challenges include less flexibility in terms of working hours. Employees must also spend more on travel time or commuting, which adds to the hassle.
Compliance workers can work from home or a remote location as it provides more flexibility in terms of maintaining a work-life balance. Additionally, employees can save on travel expenses.
Remote companies have access to a wider global talent pool, which opens the door for compliance managers with specialized skills.
The downside to a remote setup is the lack of face-to-face interaction with other employees and the not having easy access to company materials.
Compliance manager job description template
You may customize this job description template to match the needs of your company. It details all the responsibilities and skills required of a compliance manager.