Compliance Officer
What's it like to be a Compliance Officer?
Compliance Officers advise organisations on matters relating to industry laws, regulations and licensing. They conduct audits, investigations and reviews, analyse information and monitor regulatory conditions. Compliance Officers need good administrative skills, knowledge of industry laws and attention to detail. They often work for companies in highly regulated industries such as financial services, health, manufacturing and logistics.
Tasks and duties
- Conducting internal reviews and audits to ensure compliance procedures are followed.
- Coordinating and conducting internal risk assessments and identifying, assessing and managing risks.
- Coordinating and conducting internal investigations into compliance issues.
- Ensuring company activities, products, policies and documentation are compliant with relevant regulations.
- Reporting to board and management on matters of risk, compliance and legislation.
- Ensuring record management systems are kept up to date.
How to become a Compliance Officer
You usually need a mix of experience and qualifications to become a Compliance Officer.
Complete a bachelor degree majoring in law, business, economics or a related field. This usually takes three to five years of full-time study depending on your chosen course.
Secure an internship to build experience.
Alternatively, if you have completed an undergraduate degree in an unrelated field, consider completing a relevant postgraduate qualification, such as the Master of Legal Studies. This can be completed either part time or full time and provides non-law graduates with legal expertise.
Consider completing industry certifications in compliance and risk management to further enhance your skills.
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