Compliance Manager Job Description: Top Duties and Requirements

A Compliance Manager, or Compliance Officer, is someone who makes sure any business content, projects, and employees adhere to company and industry-specific regulations. The main responsibilities of a Compliance Manager include developing regulatory documentation for company employees to follow, developing processes for checking content, and presenting findings with key stakeholders. 

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Compliance Manager duties and responsibilities

When writing a job description for a Compliance Manager, it is important to specify the main functions of the role. Some of these important duties and responsibilities may include: 

  • Leading the development, execution, and oversight of an effective Compliance Monitoring and Testing program
  • Assessing and analyzing the regulatory and legislative environment to identify emerging issues and upcoming changes
  • Engaging with regional teams, particularly the Regional Managers to identify areas of potential non-compliance
  • Developing and implementing plans to correct instances where non-compliance is occurring in collaboration with regional teams 
  • Reviewing marketing and promotional materials to ensure compliance with market conduct and regulatory requirements
  • Ongoing maintenance, updates, version management, and dissemination of retail marketing disclaimers., including researching and drafting new disclosures as required 
  • Facilitating business monitoring activities with company Directors and Analysts
  • Managing compliance vendors and intercompany Service Level Agreements (SLAs)
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Compliance Manager Job Description Examples:

 

Example 1

Firmex is a global software-as-a-service provider with corporate headquarters in Toronto, Canada. The company’s Firmex VDR service is the world’s most trusted virtual data room, having been used by over 140,000 companies worldwide to share confidential documents for due diligence, litigation and compliance. Firmex is currently operating 100% remotely during the pandemic. Once it is safe to do so, you will have the flexibility to work in the office or continue to work from [website] a mix of both! We are looking for a highly organized, detail oriented, process driven individual to join our team. In the role of Manager, Risk & Compliance you will report to the Senior Director of Technology and be responsible for leading all aspects of organizational compliance, risk and IT security programs including SOC 2, HIPAA, GDPR, and PSPC. *What you will be doing in the role of Risk and Compliance Manager at Firmex: * * Develop, maintain and oversee compliance with internal policies. Work with internal departments (Infrastructure, Security, HR, Development, Support, General Corp) to ensure policies match current business practices. * Manage and respond to client RFI's and risk assessments (technical sections, security, privacy, encryption, vulnerability management, access controls). * Maintain a vendor management program to ensure compliance with organizational controls, including conducting vendor security risk assessments and annual audits. * Continuously improve organizational security awareness programs, including delivering training, promoting security best practices and running educational campaigns. * Perform internal audits and risk assessments to ensure compliance with organizational controls and identify gaps or suggest areas of improvement. *To be successful as the Risk and Compliance Manager at Firmex, you have: * * Experience working with IT systems, encryption, vulnerability management, monitoring, and SaaS applications in a public cloud environment such as AWS. * Excellent communication skills: You are experienced authoring technical reports, policies, and controls. You are comfortable explaining technical concepts to a variety of audiences both internally and externally. * Experience managing compliance audits and organizational controls for programs such as SOC 2, ISO, HIPAA, GDPR, and FedRAMP for a SaaS organization. * Strong organizational skills, experience managing multiple projects at the same time without missing any details. * Ability to obtain security clearance at the Secret Level in Canada. * Industry related certifications like CISA, CCSP a plus. * Note: This is a summary of the duties that are essential to this role and is not an exhaustive list. Firmex reserves the right to add or amend duties as necessary. At Firmex, we’re successful because we care about our clients, and our team members share our core values of humour, success, respect and collaboration. We know that success is derived from motivated people who take pride in building a business that makes a difference. Firmex is an employer strongly committed to diversity and inclusion within the workplace. Firmex welcomes and encourages applications from people with disabilities and can make accommodations on request for candidates throughout all aspects of the hiring process. Job Type: Full-time

What does a Compliance Manager do?

A Compliance Manager is in charge of maintaining the regulatory compliance of an organization. Compliance Managers are key players in heavily regulated industries such as insurance, finance, and healthcare. A Compliance Manager is responsible for keeping up with any changes in the industry to ensure the organization is adhering to new laws. Compliance Managers often create reports for upper management to showcase where there may be gaps in the organization’s compliance and suggest changes or new procedures for employees to follow. 

Compliance Manager skills and qualifications

A successful Compliance Manager candidate possesses various prerequisite skills and qualifications for the duties of this job. Some of these may include: 

  • Knowledge and experience in control theory and professional auditing/testing practices
  • Understanding of business technologies and their impact on control practices
  • Ability to effectively integrate business, operational, technological, and financial components in control and testing work
  • Ability to identify problems and recommend solutions to complex control, financial, or technical issues 
  • Strong written and verbal communication skills to deliver high quality, actionable feedback on a variety of complex issues 
  • Understanding regulatory and industry best practices relevant to the business, including technology implications 
  • Strong strategic thinking and decision making skills with the ability to develop creative solutions for a variety of emerging organizational and industry challenges
  • Ability to self-motivate and hold an entire organization accountable to regulatory standards

Compliance Manager experience requirements 

When reviewing resumes for a Compliance Manager position, it is best to look for someone who has at least five years of experience working on a compliance, audit, legal, or risk management team. It is also best to look for a candidate who has experience working in your particular industry. This will ensure they are joining your organization with an idea of the regulatory and compliance laws for your industry. 

Compliance Manager education and training requirements 

A good Compliance Manager candidate will have obtained at least a bachelor’s degree in business administration, economics, commerce or a related field. Candidates with a Master’s degree are often preferred. Some additional training or certification may be required depending on the industry. For Compliance Managers working in the financial industry, a Canadian Securities Course (CSC) designation may be required. 

Compliance Manager salary expectations 

According to Indeed Salaries, the average salary for a Compliance Manager in Canada is $67,669 per year. The salary can vary depending on many factors including experience, location, or the company that is hiring. 

Job description samples for similar positions 

If a Compliance Manager role is not quite what you are looking for, other related job descriptions include: 

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Compliance Manager job description FAQs

What qualities make a good Compliance Manager?

When looking for a Compliance Manager applicant it is best to find someone who has strong attention-to-detail. A good Compliance Manager will also need to have excellent grammar skills if they will be tasked with reviewing marketing and promotional materials for an organization. Compliance Managers also need to be well organized. Lastly, a Compliance Manager will also need to be able to read complex and detailed regulatory documents and be able to translate that for all levels of management in an organization. 

What makes a good Compliance Manager job description?

A good Compliance Manager job description should provide detail about what materials or departments the applicant will be working with. If the Compliance Manager applicant requires additional training or certification to perform the job than be sure to include that information in the job description. Additionally, if there are any other company benefits such as an RRSP or TFSA-matching program than be sure to include that in the description as well. 

Do Compliance Managers have different responsibilities in different industries?

While the role of a Compliance Manager largely remains the same regardless of industry or type of company hiring, the materials or regulations they are looking for will differ. A Compliance Manager working in the financial industry will need to know different information than one working in healthcare.

Job Description Examples

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