Risk and Compliance Manager Job Description [Updated for 2025]

In an era marked by strict regulations and the potential for significant risk, the role of Risk and Compliance Managers has become critically important.

As businesses evolve and regulatory frameworks change, the demand for skilled individuals who can navigate, manage and mitigate risks while ensuring compliance grows exponentially.

So, let’s delve deeper: What’s genuinely expected from a Risk and Compliance Manager?

Whether you are:

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

You’ve come to the right place.

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

Let’s dive right in.

Risk and Compliance Manager Duties and Responsibilities

Risk and Compliance Managers are responsible for ensuring a company is conducting its business in full compliance with all national and international laws and regulations that pertain to its particular industry, as well as professional standards, accepted business practices, and internal standards.

The Risk and Compliance Manager has the following duties and responsibilities:

• Identify and evaluate the company’s data processing activities
• Provide advice and instructions on how to conduct Data Protection Impact Assessments (DPIAs)
• Monitor data management procedures and compliance within the company
• Participate in meetings with IT and security teams to ensure alignment between security and privacy compliance programs
• Create and manage effective action plans in response to audit discoveries and compliance violations
• Regularly audit company procedures, practices, and documents to identify possible weaknesses or risk
• Ensure all employees are educated and trained on the importance of compliance
• Address employee concerns or questions on legal compliance
• Keep abreast of internal standards and business goals
• Work with external auditors and HR when needed
• Set plans to manage a crisis or compliance violation
• Prepare and present clear and concise compliance reports to the board

 

Risk and Compliance Manager Job Description Template

Job Brief

We are looking for a diligent Risk and Compliance Manager to join our team.

This role involves understanding and applying regulatory standards across the organization, ensuring that business operations are conducted in compliance with legal and regulatory requirements.

The Risk and Compliance Manager will also be responsible for identifying, assessing, and monitoring company risks.

The ideal candidate has strong knowledge of industry laws and regulations, excellent organizational skills, and the ability to manage multiple tasks simultaneously.

They must also have a keen attention to detail and excellent problem-solving skills.

 

Responsibilities

• Develop and implement company policies and regulations.
• Understand and adhere to all compliance requirements, regulations, and laws related to our industry.
• Identify and assess the company’s risk areas and develop risk management strategies.
• Conduct periodic internal reviews or audits to ensure compliance procedures are followed.
• Coordinate and schedule required compliance training for employees.
• Respond to request for data from regulators.
• Conduct audits and create reports for senior management and stakeholders.
• Monitor changes in relevant legislation and the regulatory environment and take appropriate action.
• Plan, supervise, and coordinate operations in a way that ensures compliance.
• Advise internal management or business partners on the implementation or operation of compliance programs.

 

Qualifications

• Proven experience as a Compliance Manager or similar role.
• Knowledge of legal requirements and controls (e.g. Anti-Money Laundering, or AML).
• Familiarity with industry practices and professional standards.
• Excellent communication skills.
• Integrity and professional ethics.
• Strong business acumen.
• Teamwork skills.
• Attention to detail.
• Professional certification (e.g. Certified Compliance & Ethics Professional (CCEP)) is a plus.
• BSc/BA in Law, Finance, Business Administration or related field.

 

Benefits

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

 

Additional Information

• Job Title: Risk and Compliance Manager
• Work Environment: Office setting with options for remote work. Some travel may be required for industry conferences or meetings with regulatory bodies.
• Reporting Structure: Reports to the Chief Compliance Officer or relevant senior management.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $75,000 minimum to $130,000 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 Risk and Compliance Manager Do?

Risk and Compliance Managers work in a variety of industries, especially in financial services, healthcare, and corporate sectors, where they help organizations identify and manage potential risks that could hinder the reputation, safety, security, and financial prosperity of their company.

They develop and implement risk management and compliance strategies to ensure that the organization’s operations and business transactions follow all relevant legal and internal rules.

This often involves drafting and reviewing company policies, and ensuring they are in compliance with regulatory requirements.

Risk and Compliance Managers are also responsible for managing the audit process, conducting internal reviews and audits, and liaising with auditors.

They identify and assess potential risks, develop risk management plans, and implement strategies to mitigate those risks.

They also provide training to company employees about risk management and compliance related issues, and keep them updated with any changes in the regulatory environment.

In case of a breach of regulations, they also lead investigative efforts, recommend corrective actions, and ensure that the company implements these actions.

In summary, their main objective is to ensure that the company operates within the legal and ethical framework while achieving its business goals.

 

Risk and Compliance Manager Qualifications and Skills

A proficient Risk and Compliance Manager should possess the following qualifications and skills that are in line with their job requirements:

• Proficiency in risk management and understanding of legal requirements in the business sector.
• Outstanding attention to detail and ability to spot discrepancies and inconsistencies in data.
• Excellent analytical and problem-solving skills to predict and mitigate potential risks.
• Strong interpersonal and communication skills to effectively disseminate risk assessments, compliance policies and procedures across the organization.
• Adept in using risk management software and other related IT systems.
• Ability to manage and work with diverse teams, fostering an environment of compliance and risk awareness.
• Strong organizational and planning skills to manage multiple projects and deadlines effectively.
• Proven leadership skills and ability to make strategic decisions.
• Experience in developing and implementing compliance programs and risk management strategies.

 

Risk and Compliance Manager Experience Requirements

Risk and Compliance Managers typically require a minimum of 5-7 years of experience in a related role, such as Risk Analyst, Compliance Officer, or Internal Auditor.

This provides them with a thorough understanding of risk assessment, compliance procedures, and regulatory requirements.

Entry-level candidates in the risk and compliance field often start with roles such as Risk Associate or Compliance Analyst, gaining hands-on experience in managing risk, developing compliance strategies, and conducting audits.

Candidates with more than 3 years of experience usually have developed a comprehensive understanding of regulatory frameworks and have demonstrated ability in developing and implementing risk management and compliance policies.

Those with more than 5 years of experience often have substantial leadership experience, including overseeing a team and driving the strategic direction of risk and compliance initiatives.

They may also have experience interacting with regulatory bodies and managing audits.

Furthermore, many organizations prefer their Risk and Compliance Managers to have industry-specific experience, as regulations and risks can vary significantly across different sectors.

For instance, a Risk and Compliance Manager in the healthcare sector would need to be familiar with healthcare laws and regulations.

 

Risk and Compliance Manager Education and Training Requirements

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

They should have a solid understanding of risk management principles and control practices, as well as a working knowledge of relevant laws, regulations, and standards.

Some positions may require Risk and Compliance Managers to hold a master’s degree in business administration (MBA) or a similar advanced degree.

Specialized knowledge or experience in the specific industry, such as healthcare or banking, may also be required.

Certifications such as the Certified Compliance & Ethics Professional (CCEP), Certified Regulatory Compliance Manager (CRCM), or Certified Risk and Compliance Management Professional (CRCMP) may be beneficial.

These certifications demonstrate a commitment to the field and a high level of expertise.

In addition, Risk and Compliance Managers should have several years of experience, as they are often required to make significant decisions based on their understanding of complex regulatory environments.

They should also have strong analytical, problem-solving, and decision-making abilities, as well as excellent communication and leadership skills.

Continuous learning is essential in this role as regulatory environments and risk management practices constantly evolve.

Therefore, ongoing professional development and training are highly recommended.

 

Risk and Compliance Manager Salary Expectations

A Risk and Compliance Manager can expect an average salary of $105,610 (USD) per year.

However, this salary can vary greatly depending on a variety of factors including the individual’s level of experience, the size and sector of the company they are employed by, and the specific geographical location of the job.

 

Risk and Compliance Manager Job Description FAQs

What skills does a Risk and Compliance Manager need?

Risk and Compliance Managers need a range of skills including analytical thinking to identify and assess potential risks, excellent communication skills to convey complex information to all levels of staff, and attention to detail to ensure all regulatory requirements are met.

They must also possess sound decision-making skills, as they often need to make tough decisions in high-pressure situations.

 

Do Risk and Compliance Managers need a degree?

Yes, a Risk and Compliance Manager typically requires a bachelor’s degree in fields such as business, finance, law or a related field.

Some employers may prefer candidates with a master’s degree.

Additionally, certifications like Certified Compliance and Ethics Professional (CCEP) or Certified Regulatory Compliance Manager (CRCM) are often preferred.

 

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

A resume for a Risk and Compliance Manager should highlight experience in risk management, compliance, or auditing, preferably within the same industry as your company.

Look for a strong understanding of the applicable regulatory standards and laws.

The ability to manage teams and excellent communication skills are also important.

Certifications in compliance and risk management could be advantageous.

 

What qualities make a good Risk and Compliance Manager?

A good Risk and Compliance Manager has a high level of integrity, as they are responsible for ensuring the company adheres to all legal and ethical standards.

They should be detail-oriented and have a deep understanding of regulatory guidelines.

These professionals must also be good problem solvers, as they must develop strategies to mitigate potential risks.

 

What are the daily duties of a Risk and Compliance Manager?

A Risk and Compliance Manager typically spends their day reviewing and updating compliance procedures, conducting risk assessments, and training staff on compliance issues.

They may also be involved in investigations into non-compliance incidents and liaise with various departments to ensure compliance with laws and regulations.

Ongoing communication with regulatory bodies and staying up-to-date with new laws and regulations is also a key part of their role.

 

Conclusion

And there we have it.

We’ve just demystified what it entails to be a Risk and Compliance Manager.

Intriguing, right?

It’s not just about managing risks and enforcing regulations.

It’s about shaping the safety and integrity of an organization, one risk assessment at a time.

Now that you have our comprehensive Risk and Compliance Manager job description template and real-world examples, you’re ready to step up.

But why limit yourself?

Delve deeper with our job description generator. It’s your secret weapon to crafting the perfect job listing or polishing your resume to perfection.

Keep this in mind:

Every compliance strategy forms a part of the bigger picture.

Let’s shape that future. Together.

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