The job role of a head of compliance is quite difficult. The post is also known as chief compliance officer. The primary responsibility of a head of compliance is to ensure that the company abides by the necessary regulatory requirements of the industry the company belongs. Chief compliance officer may work in different fields such as health care, finance and monitor the overall compliance activities of a company.
At times the compliance head is the only compliance employee in a small company however, for large companies, they often lead a team of compliance professionals. It is not enough for a compliance officer to have a strong academic background. He should also possess some legal knowledge. Having some managerial knowledge and experience is an added advantage. The compliance head should be able to communicate complex regulatory and legal issues to employees at different levels.
Job Description
Compliance head needs to stay up to date with regulatory and legal changes in the industry they are working for. They need to understand how the changes will affect the organisation. It is his duty to come up with a plan of action that will ensure that the organisation complies with regulations and laws. A compliance head often needs to work with senior executives and legal departments. It is his duty to apply the compliance strategies. The compliance officer may also need to work with the marketing executives. He should make sure that the promotional and advertising materials meet the regulatory requirements. He is also responsible for training the employees about the regulatory and legal requirements.
Requirements
It is essential for a compliance head to possess a bachelor’s degree in management or business or any other related field. Pursuing master’s degree can be an added advantage. Many compliance heads also hold a degree in law. Other than law, business or management a compliance officer may also have a degree in a field related to the particular industry in which the officer plants to work.
Besides educational qualification, having work experience is also necessary. In fact this is the most important factor. A person who begins as a lawyer or paralegal can also become a compliance head in future.
Getting a job as a compliance head should not be difficult if you have proper education and qualification. You can register your resume with renowned compliance recruiters. This will increase your chance of getting a job in a good company.