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Compliance Analyst Job Description Template
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Compliance Analyst Job Description Template

Job Description Template

Compliance Analyst Job Description Template

April 14, 2023

Compliance Analyst Job Description Template

Are you searching for proper resources to help you hire new people for your business? We can help you with that! Check out this FREE Compliance Analyst Job Description Template that will assist you throughout your hiring process.

Keep reading to learn about the essential information about a Compliance Analyst, such as skills, requirements, responsibilities, education, and much more.

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What is a Compliance Analyst?

Compliance Analysts are professionals whose job is to ensure their company complies with industry-related laws, regulations, guidelines, and standards.

They evaluate the company’s internal and external policies to ensure compliance with federal and industry regulations and research and analyze applicable and relevant standards and guidelines related to their industry.

Compliance Analysts are also responsible for identifying areas that are out of compliance and offering suggestions and solutions for necessary modifications.

They develop and apply new compliance policies and procedures, analyze compliance data, manage compliance recordkeeping systems, and educate employees on compliance laws and regulations.

Related Job Titles for Compliance Analyst

The Top Compliance Analyst Skills

Skill Why it's important
Analytical The key skill for Compliance Analysts is superb analysis. They must be able to evaluate, analyze, and interpret the company’s compliance policies and procedures in order to identify patterns and requirements. Analytical skills help them understand complex compliance data and implement appropriate actions.
Research Strong research skills are essential for Compliance Analysts because they must stay up-to-date with the latest relevant laws, regulations, and guidelines. Research skills help them learn about the standards their company should follow and track any changes in the field. Extensive research also helps them identify areas of non-compliance.
Problem-Solving Problem-solving is crucial for Compliance Analysts because their job involves ensuring their company stays out of compliance-related troubles. They use problem-solving abilities to research and identify issues and problems, brainstorm and implement suitable solutions, and select the best course of action.
Communication Effective communication is crucial for Compliance Analysts since they communicate with other employees and stakeholders daily. Communication helps them interpret and explain compliance policies, procedures, and standards accurately and understandably to employees. Communication also involves active listening because they must listen to feedback and business requirements from executives.
Attention To Detail Compliance Analysts must be detailed-oriented in order to perform their job correctly. Attention to detail is valuable because it allows them to gather necessary information, conduct thorough research, and implement beneficial compliance solutions. Attention to detail also allows them to spot and correct minor errors or discrepancies.

Compliance Analyst Job Description Template (Free)

Our company is hiring an experienced Compliance Analyst to join our team. As our Compliance Analyst, you will be responsible for developing and managing the company’s compliance programs and procedures. You will research and evaluate the company’s internal and external policies to ensure compliance with relevant laws and regulations, identify areas of non-compliance, propose solutions to compliance irregularities, and implement new compliance standards and regulations based on the company’s requirements.

Furthermore, your job will involve conducting internal controls to prevent and detect fraud and non-compliance, analyzing compliance data, maintaining compliance reports and recordkeeping systems, and identifying and resolving compliance-related issues and discrepancies. You will also communicate changes in compliance to executives and educate employees on new compliance laws and regulations.

To be successful as a Compliance Analyst, you should have outstanding analytical, research, communication, attention to detail, and problem-solving skills.

Compliance Analyst Duties & Responsibilities:

  • Develop and manage the company’s compliance programs and procedures
  • Research and evaluate the company’s internal and external policies to ensure compliance with federal and industry regulations
  • Identify areas of non-compliance and propose solutions and necessary modifications
  • Maintain compliance reports and recordkeeping systems and summarize compliance information
  • Develop and execute new compliance policies according to the company’s requirements
  • Conduct internal controls to prevent and detect fraud and non-compliance
  • Remain updated on statutes, regulations, laws, and policies related to compliance
  • Convey compliance policies and guidelines to management and executives
  • Apply new compliance standards to the company’s operations
  • Analyze compliance data to ensure its accuracy
  • Identify and provide solutions to discrepancies in compliance data
  • Coordinate with other departments to ensure compliance with industry laws and regulations
  • Educate employees on new compliance policies and standards

Compliance Analyst Requirements:

  • Bachelor’s degree in finance, accounting, or another industry-related field
  • Previous working experience as a Compliance Analyst or a similar position
  • Professional certification may be a requirement
  • Superb knowledge of industry-related laws, standards, and regulations
  • Familiarity with compliance management software
  • Experience with developing and executing compliance policies, procedures, and corresponding documentation
  • Exceptional analytical and research skills
  • Excellent communication and presentation
  • Effective problem-solving
  • Attention to detail

Accounting Specialist Interview Questrions

Sample Interview Questions for a Compliance Analyst

Once you gather up all the received applications, you can use these sample interview questions for Compliance Analyst.

Personal
  1. Can you describe yourself in a few lines?
  2. What interested you in pursuing this career path?
  3. Where do you see yourself professionally 5 years from now?
Human Resources
  1. Could you tell us about your previous working experience as a Compliance Analyst?
  2. What qualities make you the best candidate for our company?
  3. Where did you find out we were hiring a Compliance Analyst?
Management
  1. How do you stay updated on the latest regulatory changes in the industry?
  2. What is your process for conducting a compliance audit or investigation?
  3. Could you tell us about the most challenging compliance issue and how did you resolve it?
Technical Skills and Knowledge
  1. What industry do you have the most experience in terms of compliance?
  2. How do you evaluate the effectiveness of compliance policies across the company’s departments?
  3. How do you make sure sensitive data is secured during compliance audits?

What are the Educational Requirements for a Compliance Analyst?

Educational requirements for Compliance Analysts may vary depending on the industry they want to work in.

In general, Compliance Analysts need a Bachelor’s degree in business, finance, economics, or another industry-related field.

Certification requirements also vary depending on employer demands and specific industries.

However, some of the common certifications for Compliance Analysts are the Certified Regulatory Compliance Manager (CRCM) and Certified Compliance and Ethics Professional (CCEP).

How Much to Pay a Compliance Analyst when Hiring

Compliance Analysts earn between $28,500 and $95,500 per year.

The median annual salary is $65,428.

Hourly rates range from $14 to $46.

The median hourly rate is $31.

Percentile 10% 25% 50%
(Median)		 75% 90%
Hourly Wage $14 $24 $31 $38 $46
Annual Wage $28,500 $49,000 $65,428 $78,500 $95,500

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Frequently Asked Questions about Compliance Analyst

 

What do Compliance Analysts do?

Compliance Analysts are professionals who manage the company’s compliance programs and procedures.

They research and analyze industry-related laws, regulations, and standards, implement and execute new compliance policies and procedures, identify and resolve compliance-related issues, and maintain compliance reports.

Where do Compliance Analysts work?

Compliance Analysts can work in a variety of industries and areas, such as banks, insurance companies, financial services, technology, healthcare, government agencies, accounting firms, etc.

What skills are essential for Compliance Analysts?

Compliance Analysts must have exceptional analytical, research, communication, attention to detail, and problem-solving skills.

Who do Compliance Analysts report to?

Depending on the size and structure of the company, Compliance Analysts can report to a Compliance Manager or Chief Compliance Officer who is responsible for the overall compliance program within the organization.

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