Home » Job Descriptions » Compliance Auditor Job Description

Compliance Auditor Job Description

Do you have a head for business and a deep understanding of state and federal regulations?

If so, working as a compliance auditor could be perfect for you. This job mainly involves evaluating companies and making sure they follow industry regulations to the letter.

This role can take place in a range of industries, including finance, accounting, IT, and insurance. You need to be prepared to do a lot of research and make sure your knowledge is always up to date.

To discover if this could be your dream job, check out my in-depth…

compliance auditor job description

Compliance Auditor Job Description

A typical job description will start by providing an overview of the company you would be working for. It should provide details of the team you will work with and the general working environment. This is likely to include information on the type of contract and the base salary you can expect to receive.

The daily duties you would perform in this role should be clearly outlined. There will be information on the education and experience that candidates need to have. It may also include the skills and knowledge the manager is looking for in the ideal candidate.

the compliance auditor job description

Duties And Responsibilities

There is a wide range of tasks you will need to complete well in order to work as a Compliance Auditor. Naturally, the regularity of these tasks will depend on the industry and company you work for. Here are some of the main duties and responsibilities you are likely to be charged with on a regular basis.

Overseeing and Conducting Audits

You are likely to be in charge of overseeing both internal and external audits for the company. This includes reviewing reports, records, software, activities, and programs that could be affected by regulations. To do this effectively, you are likely to work closely with a team of people.

Identifying Risks

You need to analyze the potential risks within different areas of the company. This will help the company to avoid compliance issues. This can include reviewing the risk assessment studies that are conducted by professional organizations and government agencies.

Making Recommendations

Once you have completed the audit, you will need to compile a comprehensive report. This will highlight any company practices and procedures that do not comply with certain regulations. You will also make recommendations of different changes that should be implemented.

Maintaining Compliance Records

It is important to keep track of any violations that have been reported against the company you work for. You also need to have detailed records of the responses to the violations and plans to avoid them in the future. Keep records of any compliance training that company employees complete.

Skills And Attributes

There are certain hard skills you need to develop in order to do this job well. There is also a range of soft skills that will help you do your work more efficiently. Here are the main skills and attributes a successful compliance auditor should possess.

Communication Skills

You need to be able to communicate clearly with both colleagues and clients. When talking about tricky situations, you need to be able to be tactful while sticking to the truth. You also need to develop strong listening skills to understand the needs of clients and managers.

Critical Thinking

You need to be able to evaluate the different solutions to a particular problem. This includes working out the strengths and weaknesses of each option. This will help you to choose the perfect solution for the company you are working for.

Business Insight

It is important to have deep knowledge about all of the latest business technologies. This includes understanding the industry and company from the perspective of the shareholders. You also need to know the legal status of the shareholders as well as best practices and business trends.

Integrity

You need to have a solid reputation for being honest and trustworthy. Companies need to be able to trust you to review sensitive documents and keep them fully protected. You need to be sure that they will not share their business secrets with third parties.

Organizational Skills

It is essential to be able to keep records, and other documents separate and well organized. You need to be able to prioritize tasks and create schedules for your workload. This will help to ensure that the audit is completed before the deadline.

Leadership Skills

You are likely to have to manage a team of people from time to time. If you are heading an audit team, you need to know the strengths and weaknesses of each team member. This will help you to assign tasks to the best person for each job. You also need to be able to motivate people and make sure they are working hard.

Teamwork Skills

It is important to be able to work well with people from all walks of life. You need to be ready and able to support the people you are collaborating with on their tasks. You should also be able to resolve any conflicts that arise quickly and smoothly.

Decision-Making

It is important to be able to make quick and insightful decisions that will help the company you work for. You need to determine whether or not you have all the information you need to make different decisions. It is also essential to avoid delaying decisions for longer than absolutely necessary.

Education And Training

You need to hold a bachelor’s degree in accounting, finance, business, or management to secure this role. You will need to study the governmental regulations that relate to your company’s products and services. It is also important to remain up to date with amendments to the regulations and any new legislation that is passed.

In order to take your career to the next level, you may need to obtain a master’s degree. In most cases, you can work on this after you have gained some work experience. You may also be able to work on your master’s degree in your spare time while you continue working.

Looking For A Career In Finance?

Why not start with our Best Jobs For Economics Majors for alternative job ideas.

I’ve also put together some great bank applications for you, such as my Bank of America Job Application, and Bank of America Interview Questionnaire, or my TD Bank Application, and TD Bank Interview Questions, my Capital One Application, PLS Financial Application, Fifth Third Bank Application, my Citibank Application and finally my Check Into Cash Application.

If you do have a criminal record, please read up on Does Bank Of America Hire Felons before moving forward.

Additionally, if you’re looking to become a financial analyst or advisor, we recommend these fantastic online guides such as the Absolutely Legendary Financial Analyst, Success as a Financial Advisor For Dummies, or how about the Financial Analyst’s Indispensable Pocket Guide, or the CFA Confidential: What It Really Takes to Become a Chartered Financial Analyst, and Financial Intelligence available online in 2022.

We also found The 10X Financial Advisor: Your Blueprint for Massive, or the Succession Planning for Financial Advisors: Building, The Million-Dollar Financial Advisor: Powerful Lessons, and The New Financial Advisor, The Financial Advisor’s Success Manual: How to, or what about The Ultimate Financial Advisor Marketing System, or the Knock Out Networking for Financial Advisors and Other, as well as the Prospecting Through Positioning For The Financial to really excel in your field.

Final Thoughts

The typical salary for this role depends on the industry and the company you work for. The highest salaries are usually offered by finance, pharmaceutical, and technology companies. As you start on your career path, you can expect to earn around $47,000 per year.

After a few years, your salary is likely to rise to around $63,000 per year. Gaining special skills and experience can dramatically boost your earning potential.

If you work for a pharmaceutical company, your salary could climb to $83,000 per year over time.

All the very best getting a job as a Compliance Auditor!

5/5 - (117 votes)
Share:

Leave a Comment

Your email address will not be published. Required fields are marked *

About Calvin Miller

Calvin has over 20 years of experience in a leading employment agency in Tucson, Arizona, and is passionate about finding the perfect position for everyone who uses the company’s services.

He lives with his wife, Annette, and their two sons Jake and Joseph.

Other Articles of Interest

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top