WHAT IS A COMPLIANCE MANAGER ?
The Compliance Manager holds the responsibility of collaborating seamlessly with various cross-functional teams within the company (including Legal, Finance, DevOps, Product groups, etc.). Their role encompasses engagement in all facets of control and process design, testing, implementation, monitoring, project management, documentation, and remediation activities. This is essential to uphold the highest standards of compliance and regulatory adherence.
Need-to-Know Overview of a Compliance Manager
1. Responsibilities of Compliance Manager
- Own internal compliance program, working with the broader team to ensure successful implementation and enhancement of compliance program
- Respond to inbound due diligence requests from customer prospects
- Conduct due diligence on Alloy vendors, service providers, and customers
- Function as project manager for large external audits such as SOC 2
- Conduct regular audits of our customer and internal company activity
- Review and write policies and procedures in conjunction with the broader team
- Lead risk reviews across business units and operational functions;
- Assistance of relevant stakeholders, identify and quantify business, reputational, outsourcing, regulatory, information security, and other risks
- Identify internal control gaps and design and implement internal controls to address gaps
- Enhance existing policies, procedures, and processes
2. Qualifications of Compliance Manager
- Audit or compliance background with exposure across multiple compliance functions and subject areas;
- Significant experience with control frameworks and ability to design and evaluate the efficiency of controls embedded within business processes
- Experience managing risk for a data-driven product or business
- Organized and very detailed high impact player with a broad knowledge of controls, compliance activities, project management, and related standard methodologies
- Understanding of the compliance management systems
- Experience or familiarity with requirements that apply to financial institutions (e.g., GLBA, FCRA, BSA, regulatory guidance regarding information security and outsourcing) preferable but not necessary
- Experience implementing compliance controls in a start-up or similar environment a plus
- Excellent verbal and written communication skills coupled with superior analytical and problem-solving abilities