Compliance examiners audit organizations to ensure compliance with company policies and regional/national laws. Jobs are found in various industries, with a focus on finance and accounting. Regulatory agencies employ examiners to ensure banks and securities dealers comply with regulations. Lawyers can become compliance examiners for agencies that ensure compliance with laws governing contracts and advertising. Some companies employ in-house compliance examiners to audit departments. Experience and education in relevant fields are typically required.
Compliance examiners conduct audits of organizations and companies to ensure that employees are in compliance with company policies as well as regional and national compliance laws. While compliance jobs are found in a variety of industries, many of these roles are primarily focused on accounting and finance related issues. So, in addition to gaining some industry-specific experience, someone wanting to become a compliance examiner may have to complete a finance-related degree.
In many countries, bank regulatory agencies employ compliance examiners; these individuals are tasked with ensuring that banks have sufficient cash assets to cover outstanding liabilities. In addition, examiners are responsible for ensuring that loan agents and underwriters collect proper documentation before extending credit to consumers and businesses. Someone who wants to become a compliance examiner for a banking regulatory authority must have prior banking experience. Generally, senior bank officials who have worked as lenders or bank managers are eligible to apply for these roles. Many regulatory agencies prefer to hire experienced bankers with a college degree in finance, accounting or similar subjects.
In addition to banks, compliance examiners are often employed by securities regulators. These individuals ensure that stockbrokers and stock dealers do not carry out unauthorized transactions. In addition, examiners review the financial records of publicly traded companies to ensure that the public is aware of any underlying issues that may affect the value of securities issued by those companies. Someone wishing to become a compliance examiner for a securities regulatory agency must have prior experience working in the investment arena as a broker or investment representative. Due to the complex nature of degrees, many agencies require job applicants to have advanced degrees in economics or a related subject.
While many examiners are concerned about financial regulations, some examiners are tasked with ensuring that companies comply with other types of laws. A licensed attorney can become a compliance examiner for an agency that ensures companies comply with regional or national statutes that govern the laws of contracts, advertising disclosures, and other types of information. In addition to being a lawyer, regulatory agencies typically prefer to hire people with relevant industry experience, in which case the lawyer employed by a mortgage company might get a job as a mortgage industry compliance examiner.
Some companies employ in-house compliance examiners who ensure staff follow company procedures as well as local and national laws. These individuals often perform monthly or quarterly audits of company departments. Salaries of departmental managers can be affected by the examiner’s conclusions. Typically, internal examiners are experienced company employees with prior administrative experience, and in many cases companies also require these individuals to have college degrees in business or finance related topics.
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