What Is a Compliance Analyst?


Compliance analysis is the process of assessing an organization to ensure that it's operating within the relevant laws and regulations. Compliance analysts are in charge of this process. They analyze a variety of business aspects, ranging from workplace safety to product and service advertising, and provide recommendations on enhancing regulatory compliance. Compliance analysts can find jobs in various industries, including construction, financial services, health care and manufacturing.

Using the Skills

  • Excellent analytical and problem-solving skills are crucial to the competence of compliance analysts. They use these skills to evaluate an organization's governance structure, policies, workplace environment and business activities, identify instances of non-compliance and provide corrective action recommendations. For example, compliance analysts working at an investment bank may evaluate the firm’s loaning procedures to ensure that they adhere to the Equal Credit Opportunity Act, which prohibits banks from discriminating against borrowers because of age, sex, marital status, color, race or religion. Strong report writing and presentation skills are also useful to compliance analysts, since their job involves writing compliance reports and presenting them to management.

Providing Recommendations

  • The main objective of compliance analysts is to help organizations meet all relevant legal and regulatory requirements. On a day-to-day basis, they monitor the operations of an organization, looking for activities that may lead to violations. For example, if a pharmaceutical manufacturer sells drugs that have been previously used as production samples, the compliance analyst must inform the firm that the activity violates the Prescription Drug Marketing Act of 1987, which prohibits the sale of any drug sample. In this case, the analyst will request that the firm stop selling the samples immediately.

Monitoring Change

  • Laws change from time to time to address issues such as changing public interests and increasing technology levels. As such, compliance analysts have a duty to monitor regulatory changes and advise employers on maintaining compliance. They do this by reviewing bulletins and industry journals and keeping tabs on current events. Compliance analysts also contribute to the development of an effective organizational compliance program and policies and participate in the training of employees to boost their knowledge of relevant federal, state and local laws, and organizational policies.

Getting There

  • To get started as a compliance analyst, you need to earn at least a bachelor’s degree in business, law or a field relevant to the industry in which you want to work. For example, if you want to secure a job in a manufacturing firm, you might need to hold an industrial engineering degree. You don’t require any license or permit to secure this job. However, to demonstrate competence and improve your employment prospects, you can complete any industry-specific certification, such as the Chartered Compliance Analyst certification program, which is offered by the American Academy of Financial Management. A master’s degree in business administration, coupled with vast work experience, is all you need to break into top positions, such as Director of Compliance Analysis or Chief Compliance Officer.

Related Searches


  • Photo Credit Brand X Pictures/Stockbyte/Getty Images
Promoted By Zergnet


You May Also Like

  • Compliance Specialist Job Description

    A compliance specialist is a mid-level analyst responsible for monitoring and providing business support on a variety of complex regulatory and legal...

  • Senior Business Analyst Job Description

    A senior business analyst job varies based on the type of industry, department and client the position serves. For example, some business...

  • Job Description for a Fraud Analyst

    Financial fraud is a major issue for companies in every industry. It may appear in the form of embezzlement, false insurance claims...

  • Job Description of a Tax Analyst

    Founding father Benjamin Franklin is quoted as having said, “In this world nothing can be said to be certain, except death and...

  • Governance Job Description

    A governance analyst helps top leadership ensure that internal processes are adequate and functional. He also ensures that employees conform to rules,...

  • AML Compliance Careers

    Banks and other types of financial institutions are targets for money laundering, which allows criminals to profit from the proceeds of their...

Related Searches

Check It Out

3 Day-to-Night Outfits for the Work Week

Is DIY in your DNA? Become part of our maker community.
Submit Your Work!