Compliance Analyst Career Description

Compliance Analyst Job Profile And Description

A compliance analyst is a person who is employed by government agencies to analyse whether the organisations working in sectors governed by the government are following the rules and regulations laid down by the governing bodies or not. For the fair and efficient functioning of the sectors like telecom, financial services or pharmaceuticals, the government creates some polices and lays down some laws that must be followed by the companies doing business in these sectors. Not following these rules can lead to legal action against them and in order to prevent that a compliance analyst keeps track of these companies and verifies if they are being compliant or not. Depending on his findings, he submits a report to the government informing it of any illegal activities.

Compliance Analyst Duties And Responsibilities

The duties and responsibilities of a compliance analyst will involve:

• Taking charge of auditing duties, check financial documents of an organisation, see if taxes have been paid correctly and on time, look out for any frauds
• Ensure that the organisation has complied with the regulations set by the government
• Make recommendations and inform companies about any new changes in rules that need to be followed
• Keep themselves up to date with any legal changes in their field

Compliance Analyst Skills And Specifications

The skills and specifications that are required of a compliance analyst include:

• Good communication skills, both written and verbal
• Good networking skills and an eye for details

Compliance Analyst Education And Qualification

The education and qualification requirements for a compliance analyst are as follows:

• A four year college degree in public administration or any general subject
• A master’s degree is an added advantage

Compliance Analyst Salary          

The average salary of a compliance analyst is around $56,000 a year but the figures are dependent on the sector and one’s work experience.