Compliance and Risk Manager Job Description [Updated for 2025]

In the intricate world of finance and business, the role of Compliance and Risk Managers has never been more crucial.

As the dynamics of the industry evolve, the demand for vigilant individuals who can navigate, strengthen and secure our regulatory and risk structures grows exponentially.

But let’s break it down: What’s truly expected from a Compliance and Risk Manager?

Whether you are:

• A job seeker trying to decipher the intricacies of this role,
• A hiring manager outlining the perfect candidate,
• Or simply fascinated by the complexities of compliance and risk management,

You’re in the right place.

Today, we present a customizable Compliance and Risk Manager job description template, designed for effortless posting on job boards or career sites.

Let’s dive right into it.

Compliance and Risk Manager Duties and Responsibilities

Compliance and Risk Managers are responsible for ensuring that an organization complies with relevant laws, regulations and internal policies, and they also manage and mitigate any potential risks that could impact the business.

They work closely with other departments to identify, analyze and manage risks, and develop risk management plans.

They have the following duties and responsibilities:

• Develop and implement the company’s risk management plan and compliance policies
• Stay up-to-date with local, national, and international laws and regulations relevant to the business
• Perform regular audits to ensure that the organization is in compliance with all internal and external rules
• Identify potential areas of compliance vulnerability and risk, and develop corrective action plans for resolution
• Provide advice and guidance to management on regulatory and risk management issues
• Prepare and present risk reports to the company’s senior management and stakeholders
• Develop, coordinate, and participate in educational and training programs to ensure employees are aware of compliance and risk management issues
• Manage relations with regulatory bodies and handle any inquiries or investigations
• Monitor and manage the company’s insurance policies

 

Compliance and Risk Manager Job Description Template

Job Brief

We are searching for a diligent Compliance and Risk Manager to ensure our company adheres to legal standards and in-house policies.

This role will be responsible for enforcing regulations in all aspects and levels of business as well as providing guidance on compliance matters.

A strong Compliance and Risk Manager is well-versed in legal guidelines and corporate governance.

They are professionals of high ethical standards and work diligently to complete their duties while keeping in mind the objectives of the business.

 

Responsibilities

• Develop and implement an effective legal compliance program
• Create sound internal controls and monitor adherence to them
• Draft and revise company policies
• Proactively audit processes, practices and documents to identify weaknesses
• Educate and train employees on regulations and industry practices
• Address employee concerns or questions on legal compliance
• Stay up-to-date with internal standards and business goals
• Regularly assess company operations to determine compliance risk
• Collaborate with other departments to create a culture of compliance throughout the organization
• Prepare and present clear and concise compliance reports to the executive team

 

Qualifications

• Proven experience as a Compliance and Risk Manager or Compliance Officer
• In-depth knowledge of the industry’s standards and regulations
• Excellent knowledge of reporting procedures and record keeping
• A business acumen partnered with a dedication to legality
• Methodical and diligent with outstanding planning abilities
• An analytical mind able to “see” the complexities of procedures and regulations
• Excellent communication skills
• BSc/BA in law, finance, business administration or related field
• Certified compliance professional is a plus

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Compliance and Risk Manager
• Work Environment: Office setting with options for remote work. Some travel may be required for meetings or audits.
• Reporting Structure: Reports to the Chief Compliance Officer or Executive Management.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $85,000 minimum to $150,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Compliance and Risk Manager Do?

Compliance and Risk Managers typically work in a range of industries including banking, insurance, healthcare, and other regulated sectors.

They can also work as independent consultants.

Their primary responsibility is to ensure that an organization complies with all internal and external rules, regulations, and procedures.

This includes local, state, and federal laws that pertain to the company’s area of business.

They design and implement controls, policies, and procedures that protect the company from potential risks.

This involves identifying potential risks, assessing their impact, and creating strategies to mitigate them.

In addition, Compliance and Risk Managers work closely with other departments such as legal, finance, and operations to ensure that the company is operating within the scope of ethical and legal boundaries.

They may also be responsible for providing training and awareness programs to employees to ensure they understand and adhere to compliance requirements.

Furthermore, they monitor and report on the effectiveness of the risk management strategies in place, and perform audits and reviews as required.

Compliance and Risk Managers are also responsible for managing any incidents of non-compliance, identifying their causes, and recommending improvements to prevent future occurrences.

 

Compliance and Risk Manager Qualifications and Skills

A Compliance and Risk Manager should possess a mix of skills and qualifications that allow them to manage and mitigate risks and ensure compliance with laws, regulations, and internal policies.

These include:

• Analytical skills to identify, assess and minimize risk factors within a business environment.
• Thorough understanding of legal and business principles to ensure all company operations adhere to regulations and standards.
• Strong communication skills to effectively relay complex compliance and risk-related information to stakeholders at all levels of the organization.
• Leadership abilities to lead and manage a team, fostering a culture of risk awareness and compliance within the organization.
• Problem-solving skills to develop and implement risk management strategies and compliance programs.
• Attention to detail to monitor internal operations, identify any areas of non-compliance and take corrective action.
• Knowledge of risk assessment and predictive modeling techniques to forecast potential risks and develop appropriate mitigation strategies.
• A background in law, business administration, finance, or a related field, along with professional certifications in risk and compliance management.

 

Compliance and Risk Manager Experience Requirements

Compliance and Risk Managers are typically required to have at least 5-7 years of experience in compliance, auditing, or risk management.

This experience may come from a variety of sectors, including finance, healthcare, or technology, depending on the industry in which the company operates.

Candidates should have a solid background in interpreting and applying regulatory standards, as well as experience in developing and implementing compliance programs.

Experience in conducting risk assessments and audits is also a key requirement.

Candidates with a legal background or experience in working with regulatory bodies may be preferred.

Advanced experience may include managing a compliance or risk management team, providing training to staff, and dealing with high-level risk scenarios.

Those with more than 10 years of experience may be ready for a senior management or executive position, overseeing the compliance and risk management operations of an entire organization.

They may also have experience in crisis management, business continuity planning, and managing relationships with regulators.

In all cases, strong analytical, problem-solving, and communication skills are important.

Continuing education and keeping up with regulatory changes is also a key part of staying experienced in this role.

 

Compliance and Risk Manager Education and Training Requirements

Compliance and Risk Managers typically require a bachelor’s degree in business administration, finance, accounting, or a related field.

This foundational education provides essential knowledge in financial management, corporate governance, and business principles.

Further, these professionals often have a master’s degree in business administration (MBA) or finance, which significantly deepens their understanding of financial risk and the regulatory environment.

A minimum of five years of experience in compliance, risk management, or similar roles is often required.

This practical experience helps to develop an in-depth understanding of compliance processes and risk management strategies.

Certification as a Certified Compliance and Ethics Professional (CCEP), Certified Regulatory Compliance Manager (CRCM), or a similar credential is often highly valued.

These certifications are proof of a candidate’s specialized knowledge and dedication to the field.

Knowledge of relevant industry regulations and laws is a must.

Thus, ongoing learning and keeping up with changes in the regulatory environment are crucial aspects of the role.

Finally, soft skills like excellent communication, analytical thinking, and leadership abilities are also important for a Compliance and Risk Manager.

 

Compliance and Risk Manager Salary Expectations

A Compliance and Risk Manager earns an average salary of $108,732 (USD) per year.

The salary can fluctuate depending on factors such as industry, years of experience, level of education, and the geographical location of the job.

 

Compliance and Risk Manager Job Description FAQs

What skills does a Compliance and Risk Manager need?

A Compliance and Risk Manager should have excellent analytical abilities to identify and evaluate potential risks.

They should also have a strong understanding of regulatory and compliance procedures within their industry.

Effective communication and interpersonal skills are also necessary, as they often need to explain complex legal concepts to different stakeholders.

Moreover, they should be detail-oriented and have good decision-making capabilities to implement risk mitigation strategies.

 

Do Compliance and Risk Managers need a degree?

Yes, Compliance and Risk Managers typically need a bachelor’s degree in business, finance, or a related field.

Many employers also prefer candidates who have a master’s degree in business administration or a related discipline.

Professional certifications like Certified Regulatory Compliance Manager (CRCM) or Certified Risk Professional (CRP) can also enhance job prospects.

 

What should you look for in a Compliance and Risk Manager’s resume?

In a Compliance and Risk Manager’s resume, look for a strong educational background in a relevant field and certification in risk management or compliance.

Also, check for experience in developing and implementing compliance programs and risk management strategies.

Experience in conducting audits and understanding legal requirements within the specific industry is also crucial.

A good Compliance and Risk Manager should have strong skills in project management, communication, and decision-making.

 

What qualities make a good Compliance and Risk Manager?

A good Compliance and Risk Manager is analytical, detail-oriented, and has a strong understanding of regulatory and compliance procedures.

They should have excellent decision-making capabilities and be able to communicate complex concepts clearly.

A commitment to ethical conduct and a thorough understanding of the industry’s legal landscape is also important.

They should also have a proactive attitude in identifying potential risks and implementing preventative measures.

 

Is it difficult to hire a Compliance and Risk Manager?

Hiring a Compliance and Risk Manager can be a challenging task.

The role requires a unique blend of skills, including deep understanding of legal and regulatory landscapes, strong analytical abilities, and good interpersonal skills.

It’s important to look for candidates with relevant experience and certifications in the field.

You may also need to offer competitive salaries and benefits to attract and retain the best talent.

 

Conclusion

And there we have it.

Today, we’ve unveiled the true essence of being a Compliance and Risk Manager.

Surprised?

It’s not just about following rules and regulations.

It’s about building secure pathways for businesses, one compliance checkpoint at a time.

With our comprehensive Compliance and Risk Manager job description template and real-world illustrations, you’re ready to move forward.

But why pause your journey here?

Dig deeper with our job description generator. It’s your essential tool for creating accurate job listings or refining your resume to perfection.

Remember:

Every compliance rule is a brick in the wall of business integrity.

Let’s fortify that wall. Together.

How to Become a Compliance and Risk Manager (Complete Guide)

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