Compliance officers ensure that an organization abides by all laws, rules, and regulations when conducting financial transactions. All employees, managers, and executives must be compliant to avoid potential legal issues.
If you are a detailed oriented individual and have a strong understanding of finance industry policies and regulations, this is a career path to consider.
Compliance officers work in a finance setting. You work in an office and will spend much of your time working on a computer. You will also be expected to participate in meetings, helping to educate others about compliance issues. Most compliance officers work a standard 40-hour work week. Overtime may be required occasionally. You will report to the compliance manager and execute tasks assigned by them.
As a compliance officer (also sometimes known as a compliance analyst) your role is to ensure people within your organization understand compliance policies and act in accordance with the law when conducting financial transactions and doing business with vendors, investors, and customers.
Compliance officers may work on completely different projects and tasks from one day to the next. In general, here are the responsibilities that are part of your job as a compliance officer in finance:
Finance compliance officer and analyst roles are most commonly found in the financial services industry with banks, mutual fund companies, lending companies, and investment dealers. These companies vary in size, so you could find yourself working for a small business or a large national corporation.
Jobs of this nature are typically found in cities with a large finance sector such as Toronto and throughout the Greater Toronto Area. You may also be able to find compliance roles in local bank and finance branches across the country.
As a compliance officer, you are required to have a combination of business acumen, finance knowledge and be a strong communicator. Here are some of the skills and abilities hiring companies are looking for in candidates for this role:
The vast majority of compliance officers today have a university or college degree in finance, accounting, human resources, or related field of study. You will also need to have experience in a more junior finance role. Obtaining industry certifications is essential. Many companies require you to have the Canadian Securities Course (CSC).
If you work in a bank, you will be required to complete the Branch Managers Course (BMC). You will be expected to obtain additional certification as you work your way up and take on more senior roles.
After working as a compliance officer for a number of years, the natural progression is for you to move up to a compliance management role and eventually to a chief compliance officer role. Compliance officers can also work for finance agencies and take on a compliance consulting role as a third party.
Are you looking for compliance officer jobs in Canada? Ready to take the next step in your career? Contact Randstad Canada to learn more about your career options.
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