Head of Compliance Job Description, Key Duties and Responsibilities

Head of Compliance Job Description, Key Duties and Responsibilities

This post provides complete information of the job description of head of compliance, to help you learn what the role entails.

It presents the key tasks, duties, and responsibilities that commonly make up the head of compliance work description in most organizations.

This article also provides the key requirements that anyone seeking the head of compliance role may be expected to meet by recruiters to qualify to access the position.

Please, continue reading to learn about the head of compliance career:

What Does a Head of Compliance Do?

A head of compliance is responsible for working to maintain an organization’s legal and ethical integrity.

He/she plays the major role of ensuring that the policy laid down by the organization is strictly followed and adhered to by all department members, and that the messaging and the behavior of the organization reflect the rule and regulations of the company.

The head of compliance job description entails making sure that the company and its employees comply with the regulations of the industry and internal policies.

It involves designing compliance plans, guiding and educating the management and staff on compliance matters, updating knowledge on recent regulatory changes, and responding in case of government investigations.

The head of compliance work description also involves carrying out several important daily tasks such as identifying hidden risks that the organization may face and coming up with effective suggestions or recommendations to handle them.

It entails monitoring larger regulatory developments that may affect the operation of the organization, and training and educating employees on any new process and policies.

A head of compliance also ensures that the operations and business transactions of the organization follow all relevant legal and internal rules by developing and implementing an effective and efficient legal compliance program; proactively auditing processes, documents and practices, and informing and training employees.

It is also the duty of the head of compliance to create and oversee control systems in order to deal with or prevent violations of legal guidelines and internal policies, evaluate the efficiency of controls and continuously improve them, and revise procedures, reports, etc on a periodic basis in order to identify hidden risks or non-conformity issues.

In essence, a head of compliance becomes a specialist in the policies of his/her organization, as stringent government regulations on several organizations require the aid of compliance professionals.

The position of a head of compliance requires the ideal candidate or any interested individual to possess and demonstrate certain important skills or attributes which may include excellent organizational skills, thorough knowledge on recent regulation changes, and good leadership skills.

He/she should also have computer proficiency, efficient and effective communication, and interpersonal skills; strong work ethic, and several other important skills and attributes as required.

In terms of academic qualifications, the role of a head of compliance requires the candidate to have acquired a Bachelor’s degree in disciplines such as Economics, Law, Accounting, or Finance, or in other related field.

Some employers may also demand certain industry certifications such as the regulatory U.S Export or Import certification in the trade field, for example, or a Master’s degree in a related field.

Head of compliance salary: The annual median salary for the head of compliance role is $99,098.

Head of Compliance Job Description Example/Sample/Template

The major tasks, duties, and responsibilities that make up the head of compliance job description are shown below:

• Conducting and overseeing internal reviews or audits periodically to ensure that compliance procedures are followed
• Conducting or directing the internal investigation of compliance issues
• Informing, educating, and training employees on matters that are associated with regulations and industry practices
• Evaluating business activities such as investments, to evaluate or assess compliance risk
• Coming up with effective plans to manage a crisis or compliance violation
• Staying up-to-date with internal standards and business goals
• Working cooperatively with external auditors when needed
• Preparing appropriate compliance reports with regulatory agencies
• Discussing arising compliance issues with management or employees
• Ensuring and verifying that all regulatory policies and procedures have been documented, implemented, and communicated.

Head of Compliance Job Description for Resume

If you have worked before in the position of head of compliance or are presently working in that role and are preparing a new resume, you can use the duties in the head of compliance job description example above in making a compelling professional experience section for the resume.

Having a professional experience section in your resume where you describe the duties and responsibilities you have performed or are currently carrying out as head of compliance can very much increase the impact of your resume on the recruiter.

Head of Compliance Requirements – Skills, Knowledge, and Abilities for Career Success

If you are seeking the head of compliance role, here are major requirements most recruiters may want you to fulfill to be employed:

• Well-developed organizational skills
• Excellent interpersonal skills which enable ahead of compliance to work effectively with all department members, and also to collaborate with external auditors when needed
• Good verbal and written communication skills to inform and educate employees, and also to file correct and accurate compliance reports with regulating agencies
• Adequate experience in risk management
• Professional certification such as Certified Compliance & Ethics Professional (CCEP)
• Sound knowledge of legal requirements and controls such as Anti-Money Laundering
• A Bachelor’s degree in disciplines such as Economics, Law, Accounting, or Finance.

Conclusion

If you are a recruiter or employer seeking to hire for the head of compliance position in your organization, you will need to make and publish a detailed description of the role that clearly tells prospective candidates the functions they will perform working as head of compliance in your organization if hired.

You can make the perfect description of the head of compliance position in your organization by applying the job description sample above as a template.

This post is also helpful to individuals interested in the head of compliance career, to increase their understanding of the duties that define the role.