What is a Compliance Specialist doing? Job description and responsibilities

What does a Compliance Specialist do?

The Compliance Specialist is responsible for ensuring that the company operates in accordance with all relevant laws, regulations, and industry standards. They will be reporting to the Compliance Manager and will be responsible for conducting audits, developing and implementing compliance policies and procedures, and providing training to employees on compliance matters. The Compliance Specialist will also be responsible for monitoring and investigating any potential compliance violations and recommending corrective actions.

Responsibilities of Compliance Specialist

• Develop and implement compliance policies and procedures to ensure adherence to applicable laws and regulations.
• Conduct regular audits and assessments to identify potential compliance risks and areas for improvement.
• Provide guidance and training to employees on compliance-related matters, including ethics, data privacy, and anti-corruption.
• Monitor and analyze changes in laws and regulations to ensure ongoing compliance and recommend necessary actions.
• Collaborate with cross-functional teams to ensure compliance requirements are integrated into business processes and systems.
• Investigate and resolve compliance-related issues, including conducting internal investigations and implementing corrective actions.
• Prepare and submit regulatory reports and filings accurately and within specified deadlines.
• Maintain accurate and up-to-date records of compliance activities, including documentation of policies, procedures, and training materials.
• Serve as a point of contact for regulatory agencies and external auditors during compliance audits and inspections.
• Stay informed about industry best practices and emerging trends in compliance to proactively identify opportunities for improvement.