Risk and Compliance Professional Job Description [Updated for 2025]

In the era of stringent regulatory frameworks and business complexities, the demand for Risk and Compliance Professionals has skyrocketed.

As the business landscape evolves, the call for proficient individuals who can assess, manage, and mitigate business risks while ensuring regulatory compliance grows louder.

But let’s delve deeper: What is exactly expected from a Risk and Compliance professional?

Whether you are:

• A job seeker trying to understand the core of this role,
• A hiring manager outlining the ideal candidate,
• Or simply intrigued by the intricacies of risk and compliance,

You’ve landed on the right page.

Today, we introduce a customizable Risk and Compliance Professional job description template, designed for easy posting on job boards or career sites.

Let’s dive right into it.

Risk and Compliance Professional Duties and Responsibilities

Risk and Compliance Professionals play a crucial role in ensuring that an organization adheres to legal standards and internal policies.

This job role requires expertise in identifying and managing potential risks that could hinder the reputation, safety, security, and financial prosperity of their organization.

Their main duties and responsibilities include:

• Developing and implementing an organization’s risk management plan and compliance program
• Identifying potential risks and recommending mitigation strategies
• Ensuring compliance with laws, regulations, and internal policies
• Carrying out internal audits to evaluate the effectiveness of control systems
• Monitoring and reporting on risk and compliance issues
• Reviewing and setting policies and managing the risk and compliance policy framework
• Responding to requests for information from regulators or external auditors
• Providing training to employees to increase awareness and knowledge of compliance matters
• Keeping up-to-date with, and understanding, relevant laws and regulations
• Maintaining a strong working knowledge of industry trends, innovations, and changes in law

 

Risk and Compliance Professional Job Description Template

Job Brief

We are in search of a diligent Risk and Compliance Professional to join our team.

Your role will be to ensure our company adheres to legal standards and in-house policies, enforce regulations in all aspects and levels of business as well as providing guidance on compliance matters.

The successful candidate should be well-versed in legal guidelines and corporate governance.

Ultimately, you will ensure that our operations and business transactions follow all relevant legal and internal guidelines.

 

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 regulatory developments within or outside of the company as well as evolving best practices in compliance control
• Prepare reports for senior management and external regulatory bodies as appropriate

 

Qualifications

• Proven experience as a Compliance Officer or Compliance Manager
• Experience in risk management
• 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
• Business acumen
• Teamwork skills
• Attention to detail
• 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: Risk and Compliance Professional
• Work Environment: Office setting with occasional travel for audits or regulatory meetings.
• Reporting Structure: Reports to the Compliance Manager or Director of Compliance.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $75,000 minimum to $120,000 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 Professional Do?

Risk and Compliance Professionals typically work for organizations across various industries, including financial services, healthcare, and technology companies.

They can also be employed by consulting firms or work as independent consultants.

They are responsible for identifying potential risks that could jeopardize the safety, reputation, or financial sustainability of an organization.

This involves conducting risk assessments and audits, developing and implementing risk management strategies and processes, and providing advice on risk mitigation measures.

Their duties also include ensuring that an organization complies with relevant laws, regulations, and industry standards.

This may involve creating and implementing compliance programs, educating staff about compliance requirements, and monitoring the organization’s compliance status.

Risk and Compliance Professionals work closely with other professionals such as lawyers, accountants, and business managers to ensure that risk and compliance issues are addressed in business decisions.

They may also be involved in addressing specific risk and compliance issues such as data privacy, cybersecurity, financial fraud, and workplace safety.

In addition to their technical duties, Risk and Compliance Professionals often play a key role in shaping an organization’s ethical culture and corporate governance practices.

This may involve developing policies and procedures, providing training, and promoting awareness of ethical and compliance issues.

 

Risk and Compliance Professional Qualifications and Skills

A proficient Risk and Compliance Professional should have the skills and qualifications that align with your job description, such as:

• Knowledge of local, state, and federal laws and regulations to ensure an organization operates within these rules and avoid potential legal or financial penalties.
• Ability to apply logical and critical thinking skills to identify risks in various business operations and strategize ways to mitigate them.
• Strong organizational skills to manage and prioritize multiple compliance programs or projects simultaneously.
• Exceptional communication skills to explain and enforce regulations, policies, and procedures to all levels within the organization, as well as address any concerns or queries that may arise.
• A keen eye for detail to review operations and identify areas where a business may be exposed to risk, including financial, operational, or technological risks.
• Excellent problem-solving skills to devise effective solutions for identified risks and compliance issues, reducing potential threats to an organization’s operational efficiency and profitability.
• A strong ethical framework to uphold, and ensure the company adheres to, ethical standards and best practices.
• Proficiency in using risk assessment software tools and other technology to help in evaluating, monitoring, and minimizing risks.

 

Risk and Compliance Professional Experience Requirements

Entry-level candidates for a Risk and Compliance Professional role generally require at least 1 to 2 years of experience in risk management, compliance, or a related field.

This experience can be gained through internships or part-time roles in regulatory bodies, auditing firms, or financial institutions.

Candidates may also benefit from gaining practical knowledge in roles such as Risk Analyst, Compliance Assistant, or Financial Analyst.

Candidates with more than 3 years of experience in risk and compliance often have extensive knowledge in industry regulations, standards, and risk management strategies.

They may have honed their skills in roles like Risk Manager, Compliance Officer, or Regulatory Consultant.

Individuals with over 5 years of experience in the field usually have a deep understanding of the risk and compliance landscape.

They may have held leadership positions in their previous roles and have shown the ability to manage teams and implement risk and compliance programs.

These candidates are often ready for senior roles or managerial positions in the risk and compliance sector.

Regardless of the level, Risk and Compliance Professionals are expected to stay updated on regulatory changes and industry best practices, often through continuous professional development programs.

 

Risk and Compliance Professional Education and Training Requirements

Risk and Compliance Professionals typically have a bachelor’s degree in finance, business, economics, or a related field.

They need to have a solid understanding of business operations and regulatory laws which can be obtained through business management and law courses at the undergraduate level.

In addition, certification such as Certified in Risk and Information Systems Control (CRISC), Certified Internal Auditor (CIA), or Certified Regulatory Compliance Manager (CRCM) are often required or preferred.

These certifications demonstrate a professional’s ability to identify and manage risk, and to design and implement compliance programs.

Many positions, particularly those at a managerial or executive level, might require a master’s degree in business administration (MBA) or related field, with a focus on risk management and compliance.

Professionals in this field should also be familiar with industry-specific regulations and standards.

They may choose to specialize in healthcare, finance, or environmental compliance, for example, each of which will have its own set of regulations and requirements.

Continuing education is also important in this field, as regulations and compliance requirements often change.

This may involve attending workshops, seminars, or industry conferences.

Finally, work experience in a related field such as law, auditing, or business analysis could also be beneficial for a career in risk and compliance.

 

Risk and Compliance Professional Salary Expectations

The average salary for a Risk and Compliance Professional is around $80,193 (USD) per year.

This compensation can fluctuate greatly based on factors such as years of experience, education level, industry, and geographical location.

 

Risk and Compliance Professional Job Description FAQs

What skills does a Risk and Compliance Professional need?

Risk and Compliance Professionals need to have excellent analytical skills to assess potential risks and develop strategies to mitigate them.

They should possess strong communication skills to interact effectively with various stakeholders and explain complex regulations clearly.

An understanding of business operations and laws is also essential.

Moreover, they need good problem-solving skills to resolve compliance issues and keep the company on the right path.

 

Do Risk and Compliance Professionals need a degree?

Yes, Risk and Compliance Professionals generally need at least a bachelor’s degree in fields such as Business, Finance, Law, or related disciplines.

However, many employers prefer candidates with a master’s degree or professional certifications in risk management or compliance.

Some roles may also require familiarity with specific regulations, such as those in banking, healthcare, or environmental sectors.

 

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

A Risk and Compliance Professional’s resume should show a solid background in risk management and regulatory compliance.

Experience in developing and implementing risk mitigation strategies and compliance programs is essential.

They should also demonstrate knowledge of relevant laws and regulations.

Certifications like Certified Regulatory Compliance Manager (CRCM) or Certified Risk Professional (CRP) are a plus.

 

What qualities make a good Risk and Compliance Professional?

A good Risk and Compliance Professional is detail-oriented and able to spot possible areas of risk or non-compliance.

They are proactive, able to anticipate potential issues and take measures to prevent them.

They possess strong ethical standards and integrity, ensuring they can uphold and enforce the company’s compliance policies.

Finally, they have excellent decision-making skills, allowing them to choose the best course of action when managing risks.

 

Is it difficult to hire Risk and Compliance Professionals?

Hiring Risk and Compliance Professionals can be challenging due to the specific skills and knowledge required for this role.

It is important to find candidates who are not only aware of the relevant laws and regulations but can also apply this knowledge practically to help the business navigate risks.

The demand for these professionals is high, especially in sectors like finance and healthcare where regulatory compliance is paramount.

 

Conclusion

And there you have it.

Today, we’ve unraveled the intricate role that a risk and compliance professional plays in an organization.

And guess what?

It’s not just about preventing risks and ensuring compliance.

It’s about safeguarding the company’s reputation, one policy at a time.

Armed with our insightful risk and compliance professional job description template and real-world examples, you’re ready to jump into action.

But why stop there?

Go a step further with our job description generator. It’s your tool for creating meticulous job listings or honing your resume to perfection.

Remember:

Every policy implemented is a step towards a safer and more secure business.

Let’s ensure a better future. Together.

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