A professional who maintains the ethical and legal integrity of the company together by enforcing policies and planning the program is known as a Compliance Manager. He sees that all the departments follow the rules and regulations laid down.They have to keep abreast of the laws of the corporate world and have to prepare reports and submit to the higher-ups about the laws and the way the employees are complying with them.
Compliance Managers have to see where there are issues regarding ethical and legal problems in the company and try to settle them effectively as soon as possible. Serious problems of compliance may lead to legal procedures and firing. They work with the top management and make sure that strategies are in place to deal with any problems of compliance.
What is the work of a Regulatory Compliance Manager?
A professional who takes care of Federal legislation and state laws is a Regulatory. An organization is governed by environmental legislations that are always changing and we require managers and executives to see that the organization follows changing rules and fulfils its duties. As the organization continues with its functions, the compliance managers have to meet with safety compliance and environmental health.
Regulatory Compliance Managers may be asked to carry out inspections of the factories, shopping malls, office premises to see that all rules are in force. They may be working on their own depending on the size of the corporation or may have a team under them.
The Responsibilities of a Compliance Director
ADirector is in charge of complying with the rules and regulations of the corporation and getting optimum results from the employees. He is the link between the top management and the employees and has to take care of human resource strategies. He is in charge of recruitment, training selection, coaching, communication, counselling and a lot more.
A Compliance Director complies with organizational strategies with analysis, information and recommendations of strategic thinking. He tries to avoid legal challenges by understanding the present legislation which is proposed and enforcing regulations to comply with the legal requirements. He attracts new clients by using top quality technologies and bringing recognition to the company.
He keeps in touch with professional publication and updates his job knowledge and maintains personal networks to participate in organizations which are professional.
The Job of Vice President of Compliance
Vice President of Compliance holds management responsibility in complying and monitoring the professional conduct, procedures and policies of the firm. He is an interface with the department of audit of the firm and has to comply with periodic audits. He guides managers and staff of the compliance department regarding testing and procedures of control.
The Vice President of Compliance assists the President of the Compliance Department in finding the risks associated with compliance and sets up plans to address and monitor risks. He sees to the preparation and management of the reports dealing with compliance of different obligations and standards. The Vice President should be a post-graduate in Company Management.
So, if you are a post graduate in company management and have 5 years’ experience you can join as Vice President of Compliance.