As the hunt for rewarding employment becomes more difficult in a strained economy, it may feel like finding a needle in the proverbial haystack. If compliance has popped up in conversation, put some thought into it before serious pursuit occurs. It is important to find the right fit for the right personality when it comes to compliance jobs. Here are five things to consider before applying for a job.
Know what you are getting into.
Compliance differs from company to company. In general, an employment position in the compliance department focuses on making sure a business and personnel adhere to the rules. Communications with regulating bodies are par for the course as well. The compliance personnel will pay attention to all security measures, budget regulations, and arbitration. In short, if there is a rule to follow, the compliance department makes sure it happens and corrects the situation as necessary. This can potentially be seen as interfering and cause hostility among other employees, but ultimately you are keeping the company up to speed with latest developments with everyones best interests at heart.
Be prepared to be a good communicator.
Compliance jobs mean interacting with the staff, the public, and authorities. This is not a job for anyone who is introverted. Expect to deal with complaints from consumers, to be a problem solver, and field questions as they arise. Communicating the reasons and latest rules and regulations in meetings is essential.
An education is required.
Expect to have at least four years of education as a prerequisite before applying for a position in compliance. In general, a bachelor’s degree in business, management, or other related fields would be considered adequate. However, now that competition has increased for positions, even a master’s degree may be required to get one’s foot in the door. Once you have experience in one place and have learnt the ropes when you come to moving on your experience will help you stand out amongst other candidates.
It may be necessary to be licensed.
Some employers will expect employees to become licensed in areas pertaining to the securities industry. Requirements will vary according to the position in question.
Compliance applicants need to have high moral standards.
An individual applying for a job in compliance needs to be a cut above the rest. If one is to expect others to abide by the law of the land, so to speak, that individual must live by high standards. It is also important to have keen mind and an interest in analysing data. Compliance is a position for the person who loves to deal with facts and figures. Getting things actioned and making a difference to a company are some of the rewards. So a proactive approach is needed in this field.
For anyone who enjoys the close study of information and ensuring that a company maintains its integrity, compliance is the ideal field. With adequate preparation, a satisfying career lies ahead. Make an impeccable application is prepared and send in that application!
Ursula Jones is a specialist writer in the careers sector, here she looks at the auditing and compliance