WHAT DOES A COMPLIANCE DO?

Published: May 27, 2025 – The Compliance Professional ensures organizational adherence to legal regulations and internal policies through thorough audits and risk assessments. This role involves identifying potential compliance issues and implementing corrective strategies to prevent violations. The position also promotes a culture of integrity and ethical behavior across all departments.

A Review of Professional Skills and Functions for Compliance

1. Compliance Analyst Roles

  • Compliance Support: Support the CCO with ongoing policy and procedures updates and compliance testing
  • Audit Support: Support the Custody Audit Examinations and work closely with respective departments on information requests
  • Regulatory Compliance: Provide support for SEC examination reviews and respond to all regulatory compliance matters
  • Regulatory Filings: Support regulatory filings as appropriate (ADV 1, ADV 2A, ADV 2B, Form CRS, etc.)
  • Licensing Management: Responsible for employee form filings and licenses - Series licensing and Form U4s
  • Communications Review: Perform an electronic communications review
  • Trade Review: Perform daily review of custodian trade reports and daily trade blotter
  • Account Onboarding: Responsible for new account onboarding, including but not limited to, BSA/AML checks and notice filings as appropriate
  • Compliance Oversight: Oversee employee attestations, outside business activity reporting, political contributions, gifts, and entertainment programs
  • Regulatory Mailings: Assist with regulatory mailings
  • Due Diligence: Support Operational Due diligence of fund managers
  • Proposal Support: Support Request for Proposals

2. Compliance Associate Duties

  • Regulatory Monitoring: Monitor and maintain the regulatory landscape, identifying opportunities and ensuring legal and regulatory compliance.
  • Risk Management: Maintain Risk Registers and support the implementation of a global GRC solution.
  • Compliance Registers: Maintain Gifts and Hospitality Registers following the Bribery and Corruption Policy.
  • Vendor Management: Initiate, track, and manage third-party onboarding as part of vendor risk management.
  • Regulatory Liaison: Liaise with Trading Standards and the European Commission to facilitate dispute resolutions.
  • Policy Development: Develop, initiate, maintain, and revise policies, processes, and written department procedures.
  • Compliance Review: Conduct reviews and assessments to ensure the Corporate Compliance Policies are being adhered to, along with other business-critical processes.
  • Reporting Metrics: Implement compliance reporting metrics as part of the compliance management programme, working with the Quality team, Customer Services, Health and Safety, and Logistics departments to collate and validate data.
  • Training Delivery: Deliver internal training sessions on compliance topics, partnering with other members of the team or departments for technical and specialist expertise.
  • Project Support: Support requirements gathering and design efforts of compliance projects.
  • Regulatory Communication: Support global teams in communicating regulatory updates regarding Trade Controls, Sanctions, and Dangerous Goods.

3. Channel Compliance Auditor Responsibilities

  • Risk Identification: Identifies significant risk areas before audit plans, based on independent research.
  • Audit Execution: Drives highly complex audits from start to finish, including creating and evaluating audit work programs.
  • Audit Scheduling: Oversees timing and schedule for audit planning.
  • Complex Auditing: Leads the full range of complex audits on operating units, corporate departments, and cross-functional processes.
  • Team Leadership: Provides leadership and guidance to the audit team working on assigned audit engagements.
  • Compliance Innovation: Develops and drives new, innovative practices that significantly minimize risks or improve compliance with legal/financial reporting requirements.
  • Post-Audit Evaluation: Leads the largest, most complex post-audit evaluations and ensures findings are acted upon.
  • Audit Practices: Implements leading practices in auditing procedures, accounting regulations, governmental regulations, and internal control procedures.
  • Stakeholder Engagement: Drives audit closure through stakeholder engagement and risk mitigation.

4. Compliance Consultant Details

  • Policy Preparation: Supporting the preparation of internal compliance and FC-related policies and procedures
  • Policy Implementation: Assisting in the rollout of these policies and procedures, including training
  • Alert Monitoring: Monitoring and testing suspicious alerts and KYC files
  • Compliance Advisory: Advising the client-facing team on compliance-related queries and interpretation of FC topics (e.g., 6th AML Directive)
  • Client Review: Handling client acceptance and file reviews within different business lines
  • Regulatory Support: Supporting firms in managing the significant changes in FC regulation
  • Customer Protection: Protecting customer interests
  • Incident Reporting: Reporting incidents and analysis
  • Conduct Monitoring: Monitoring and recording of conduct concerns and breaches

5. Senior Compliance Consultant Job Summary

  • Compliance Development: Develops and implements compliance mechanisms and protocols, internal controls, and regulatory compliance policies and procedures
  • Compliance Monitoring: Implements methodology to measure and monitor compliance with internal controls and regulatory requirements and recommends process improvement to ensure compliance.
  • Subject Matter Expertise: Provides compliance or technical subject matter expertise in support of business or corporate strategic initiatives.
  • Project Management: Manages project teams and may be responsible for special projects and presentations.
  • Compliance Reporting: Produces and prepares compliance-related management reports.
  • Cross-Department Collaboration: Partners with the field and with other departments, such as Internal Audit, IT, and Legal, to build relationships supporting compliance
  • Regulatory Awareness: Stays current on federal and state legislation and issues, as well as industry and business activity and trends.
  • Regulatory Relations: Develops and maintains relationships with insurance departments and other regulatory bodies.
  • Staff Mentoring: Mentors and guides less experienced staff and may manage subordinate staff.
  • Leadership Support: Acts in the absence of the Compliance Director.
  • Vendor Controls Review: Reviews, assesses, and governs controls for vendor management
  • Scorecard Preparation: Produces and prepares a bi-annual vendor management scorecard for senior leadership

6. Compliance Coordinator Compliance Coordinator

  • Compliance Planning: Initiate and maintain compliance plan policies, procedures, and practices to prevent illegal, unethical, or improper conduct
  • Regulatory Integration: Ensure that regulatory changes in federal and state programs incorporate Medicare and Medicaid, HIPAA requirements, and the OIG annual program component
  • Compliance Training: Develop, coordinate, and participate in educational training programs that focus on the elements of the compliance program
  • Regulatory Compliance: Strive to ensure that all appropriate employees and management comply with pertinent State and Federal health care program requirements
  • Violation Response: Respond to alleged violations of rules, regulations, policies, and procedures by evaluating or recommending the initiation of investigative procedures
  • Violation Management: Develop and oversee a system for uniform handling of violations
  • Risk Identification: Identify potential areas of compliance vulnerability and risk via monitoring and auditing
  • Corrective Action: Implement corrective action plans for the resolution of problematic issues
  • Program Monitoring: Monitor the performance of the compliance program and related activities continuously
  • Information Assessment: Perform ongoing information assessments to ensure that information systems are adequately protected and meet HIPAA certification requirements

7. Compliance Engineer Functions

  • Regulatory Standards: Read, understand, and keep up to date on regulatory standards pertinent to Battery Energy Storage products
  • Test Planning: Develop test plans and procedures for conducting safety-related tests per agency requirements to verify compliance of electrical circuits or mechanical assemblies
  • Test Documentation: Document equipment lists, test setups, and record results for submission to certifying bodies
  • Agency Coordination: Work with agency engineers (UL, CSA) to develop test plans, coordinate visits for project testing, create product reports, and provide follow-up support until projects are closed
  • Test Area Maintenance: Maintain the test area with coordination of supplies, tools, and equipment calibration data
  • Compliance Coordination: Provide interface and coordinate compliance information between engineering groups and manufacturing
  • Progress Reporting: Provide status/progress updates to the Engineering Manager
  • Project Representation: Attend project meetings where regulatory engineering requires representation
  • Labeling Support: Assist project engineers with manufacturing release for agency-required labels, markings, and marking documentation of new or revised product designs
  • Employee Training: Provide training and guidance to other employees in the Regulatory Engineering department
  • Requirement Interpretation: Distribute or publish interpretations of safety requirements for all engineering design personnel

8. Compliance Manager Job Description

  • System Development: Drive the development of a global management system
  • Risk Management: Manage the global risk management program
  • Cross-Functional Collaboration: Work closely together with legal, market-specific quality and compliance teams, Research and Development, and other stakeholders
  • Policy Writing: Write lightweight and easy-to-understand policies, procedures, and programs, with support from others
  • Change Management: Drive the change management to deploy these policies in an agile and fast-growing organization
  • Compliance Advocacy: Advocate and communicate the importance of compliance to the Kry group, and train personnel on relevant policies and processes
  • Regulatory Representation: Represent the company to external auditors and regulatory bodies
  • Framework Implementation: Own planning, work tracking, and execution of implementing new frameworks in new markets, such as making sure requirements are integrated into the Kry way and nothing falls between the cracks
  • Quality Assurance: Perform internal quality assurance and follow up on implemented policies to make sure they work efficiently

9. Compliance Officer Overview

  • Compliance Culture: Working with stakeholders to establish a good compliance culture
  • Regulatory Advice: Providing regulatory advice and developing the Business Unit’s understanding of regulatory risk
  • Regulatory Solutions: Identifying commercially viable solutions to the application of regulatory requirements
  • Change Communication: Communicating regulatory change and establishing control frameworks
  • Project Support: Providing regulatory SME support to projects and change initiatives
  • Issue Resolution: Addressing findings from compliance monitoring reviews
  • Presentation Preparation: Preparing Executive and board-level presentations
  • Risk Oversight: Overseeing the UK Business Units' key regulatory risks
  • Regulatory Queries: Responding to the UK Business Units' day-to-day regulatory queries
  • Regulatory Returns: Coordinating and submitting key regulatory returns
  • Team Support: Supporting the wider compliance team (e.g., weekly sanctions screening)

10. Compliance Specialist Details and Accountabilities

  • Audit Leadership: Lead internal auditing program and participate in Corporate Internal audits, Mock FDA audits, Operational Excellence Sweeps, and Self-Assessments
  • Complaint Investigation: Lead and investigate Consumer Complaints and generate monthly KPIs to supervise product concerns
  • Change Management: Coordinate and lead the Management of Change Program
  • Product Release: Perform product release using the 6-Stream Quality Module in SAP
  • Documentation Support: Support the management of documentation to align with Global Quality Standards and regulatory requirements
  • Training Delivery: Provide training to colleagues and support the maintenance of colleague training records
  • KPI Reporting: Compile, analyze, and report data for KPIs based on Global critical metric requirements and site requirements
  • Audit Participation: Participate in external audits to fulfill requests and ensure compliance with the regulatory requirements
  • Product Registration: Implement product registrations for both the US and Exports
  • Process Streamlining: Streamline the Finished Product Release process, demonstrating automation and implementing Paperless initiatives
  • Case Coordination: Coordinate the Block and Restricted cases' status to ensure compliance and reduce PRT
  • Weekend Support: Support Releases during the weekend
  • Investigation Oversight: Work closely with Operations and DCs to ensure that Failure Investigations, CAPA actions are completed on time
  • Standard Coordination: Coordinate the Management of Change Standard (eMOC)
  • Process Automation: Streamline Six Stream Process, implementing paperless and automation
  • Product Control: Lead all aspects of Block and restricted of Finished Product in partnership with CBS Supply Network, Planning, Network Operations, and Plant Operations
Relevant Information
What Does A Compliance Analyst Do?
What Does A Compliance Manager Do?
What Does A Compliance Consultant Do?
What Does A Compliance Specialist Do?