A senior compliance analyst is found in almost every industry including corporations, government, non-profits, hospitals and educational facilities. The main duty of a senior compliance analyst is to ensure that the activities of the company are within the laws and guidelines set up by the regulatory agency overseeing their industry. This job requires a bachelor’s degree and extensive on-the-job training.
Operational Activities
One of the duties of a senior compliance analyst is to plan and coordinate the operational activities of the company to guarantee the compliance with the regulations pertaining to the industry they are working in.
Management Duties
The senior compliance analyst will oversee each compliance officer to ensure they are completing their assigned duties. Each compliance officer is assigned a department or regulatory body and reports back to the senior compliance analyst. Managing and assigning the tasks of the compliance officers is the responsibility of the senior compliance analyst.
Regulatory Duties
The senior compliance analyst will review the regulations pertaining to their industry and implement any changes required. This duty includes meeting with the regulatory body overseeing their industry and updating any changes in the laws. The senior compliance analyst will also communicate these changes to company management and the departments.
Response Duties
A senior compliance analyst will respond to any inquiry or exam given by the regulatory body. This shows the government that the company is running under the law and guidelines outlined. It will show the regulators that the company is open to process improvements and will make efforts to correct any action deemed questionable by the regulators.
Communication Duties
Communicating the necessary changes or implementation of guidelines and laws to the workers is the responsibility of the senior compliance analyst. Having excellent communications and writing skills will benefit them along with strong problem solving and decision making skills.