Compliance analysts ensure companies operate within industry guidelines and have a broad knowledge of regulatory laws. A bachelor’s degree in business or finance is common, with some companies requiring a master’s degree. Internships and continuing education can increase job prospects, and working in another role within a company can provide a stepping stone to becoming a compliance analyst.
To become a compliance analyst, a college degree is usually required. Some companies prefer compliance analysts to have at least a bachelor’s degree, while others require a master’s degree. Professional experience and continuing education are also important to becoming a compliance analyst.
Compliance analysts generally ensure that employees and companies are operating within the guidelines that govern the industry. A broad knowledge of regulatory laws is required. Individuals in this position may also help write company policy and procedures. Compliance analysts also ensure that the company is protected from potential lawsuits by acting as part of the company’s preventive team, and they are also responsible for ensuring that advertising materials are within legal boundaries.
A bachelor’s degree in business or finance are two options for students looking to become a compliance analyst; Specific grades for this position are generally not found. Many companies require compliance analysts to also have an advanced degree. A Master of Business Administration is one of the most common advanced degrees among compliance analysts.
While attending school, students can increase their job prospects by doing an internship. While sometimes unpaid, they provide valuable work experience that often makes students more job-seekers. Also, companies sometimes hire interns as full-time employees upon graduation. Another option, if internships are not available, is to hide or observe a compliance analyst. This experience can give students a more concrete idea of what a compliance analyst does. It will also allow the student to ask the analyst questions to find out more about the work.
Another way to become a compliance analyst is to become licensed or certified in the field. This usually involves continuing education even after obtaining a bachelor’s degree. Continuing education also keeps a compliance analyst up-to-date on any changes in laws pertaining to the industry.
Working for a company in another role, such as an accountant in the finance department, for example, is another path that can be beneficial for anyone wanting to become a compliance analyst. This work experience familiarizes the employee with the company and its operation. It may provide a stepping stone to moving into a compliance analyst position at a later date.
Protect your devices with Threat Protection by NordVPN
