A compliance manager ensures that the business is meeting its regulatory obligations. They create internal policies for the business and ensure these are followed at all times. They also use their knowledge to advise senior management and to train employees.
Compliance manager job description and responsibilities
Compliance managers are tasked with creating strategies and policies to make sure businesses are compliant with FCA regulations and that everything they do is within the law.
The compliance manager typically reports directly into the Head of Compliance, who acts as a direct line to regulatory authorities. On a daily basis, they assess the compliance of internal processes against current regulations, maintain reporting and help to advise and train staff.
Because regulations and legislation change all the time, a compliance manager is relied upon to keep on top of best practice and to ensure that the business’ internal policies account for any changes.
- Developing policies and procedures
- Managing team members
- Ensuring the business is up to date on legislation, regulation and best practice
- Advising various departments
- Conducting annual compliance checks
- Creating and maintaining records
- Inspiring and leading a culture of compliance
- Train employees on internal policies
Compliance manager job qualifications, skills and experience
The role of compliance manager is usually reached through several years’ experience working as a compliance officer. Professionals could have a degree or a CISI diploma. Compliance managers are required to have an excellent working knowledge of UK Conduct Regulations and skills in AML and KYC. Compliance managers will ideally have some of the following qualities:
- Detail oriented
- Good judgement
- Excellent interpersonal skills
- Good organisational skills
- Time management
- Strong sense of ethics
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