What does a Compliance Analyst do?
Learn all about Compliance Analyst duties, skills and much more. Get expert advice on how to become a Compliance Analyst.
Published 4 min read
A compliance analyst is a professional who helps organizations comply with regulations. They may work in a variety of industries, such as finance, healthcare, or manufacturing. Compliance analysts typically have a background in law or accounting.
Compliance Analyst job duties include:
- Reviewing company policies and procedures to ensure compliance with regulatory requirements
- Conducting audits of compliance records
- Investigating potential compliance issues
- Identifying process improvements to ensure compliance with regulations
- Coordinating the development and implementation of compliance training programs
- Monitoring changes in regulations to keep abreast of new compliance requirements
- Maintaining up-to-date knowledge of best practices in compliance
- Writing reports on findings from audits and investigations
- Presenting findings to senior management
Compliance Analyst Job Requirements
A compliance analyst typically needs at least a bachelor's degree in accounting, finance, or a related field. Many employers also prefer candidates who have a professional certification, such as a Certified Public Accountant (CPA) or Certified Internal Auditor (CIA). Compliance analysts typically need at least two years of experience in auditing, accounting, or a related field.
Compliance Analyst Skills
- Critical Thinking
- Detail Oriented
- Time Management
- Interpersonal Skills
- Microsoft Office Suite
- Presentation Skills
- Regulatory Knowledge
How to become a Compliance Analyst
A compliance analyst is a professional who helps organizations ensure that their practices conform to regulatory standards. There are many different types of compliance analysts, but all share the common goal of helping their clients stay compliant with the law. To become a compliance analyst, you will need to have a strong understanding of the legal and regulatory landscape in your chosen industry. You will also need to be able to effectively communicate with both lawyers and non-lawyers.
If you are interested in becoming a compliance analyst, the first step is to identify the type of compliance analysis that you would like to specialize in. There are many different industries that require compliance analysts, so there is likely a niche that fits your skills and interests. Once you have identified a few potential areas of focus, you should research the specific requirements for each one. This research will help you understand what education and experience you will need to qualify for jobs in those fields.
After you have done your research, it is time to start building your credentials. If you do not already have a law degree, you will need to get one. Many compliance analyst positions require at least a Juris Doctor (JD) degree. If you want to specialize in a particular area of compliance analysis, you may need to get additional certifications or licenses. For example, if you want to work as a financial compliance analyst, you may need to be licensed as a Certified Public Accountant (CPA).
Once you have the necessary education and credentials, you can start applying for jobs. Many compliance analyst positions are available in government agencies and large corporations. You can also find jobs with smaller companies and consulting firms that provide compliance analysis services to their clients. When applying for jobs, be sure to highlight your experience and expertise in the specific area of compliance analysis that you wish to pursue.
If you are committed to becoming a compliance analyst, there are many resources available to help you succeed in this field. The American Bar Association’s website offers information on careers in compliance analysis, including job postings and advice from current practitioners. The Association of Certified Fraud Examiners also has an online job board specifically for compliance-related positions. In addition, many professional associations offer networking opportunities and continuing education courses that can help you stay up-to-date on developments in the field of compliance analysis.
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