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What does a Compliance Manager do?

Posted on: 23 Jun 15
What does a Compliance Manager do?

Summary

What does a Compliance Manager Do?


Also known as

  • Compliance Specialist
  • Compliance Analyst
  • Compliance Manager

What is the Job of a Compliance Manager:

Compliance Managers work to ensure that their company complies with all laws and regulations that apply to healthcare businesses. Compliance Managers work close with upper levels of management to deal with compliance problems when they occur.
 

Job Responsibilities of a Compliance Manager:

  • Identifies issues with legality and ethics regarding both the company and each employee
  • Finds the safest and fastest course of action to fix issues as effective and quickly as possible
  • Creates and ensures the enforcement of action plans related to a variety of legal and ethical behaviours within the company
  • Builds strategies as precautionary measures to protect the reputation and integrity of the company before it is jeopardized
  • Keeps up to date with current regulations and law guides
  • Proactively advises all employees, including executives, to ensure compliance with all laws and regulations

Qualifications/Experience Needed to Start a Career as a Compliance Manager

  • A Bachelor’s degree in a relevant subject (Finance, Business, Legal or other related field) is required for this job; Master’s desired
  • Previous experience in healthcare preferred
  • Previous experience in HR department or quality assurance departments, also a bonus
  • Experience working with cross functional teams
  • Extensive knowledge on compliance related topics (Pharma code, anti-bribery, conflict of interest, transparency, payments to health care providers, etc.)
  • Broad base of technical skills
  • Integrity
  • Ability to manage and solve problems
  • Attention to detail
  • Communication and leadership skills
  • Ability to work well in a team

Career Progression for a Compliance Manager

The learning path for a Compliance Manager does not stop after getting a master’s degree and part of a healthy career progression is taking on specialized courses and professional certifications as well as keeping up to date on all laws and regulations in your area of expertise. Developing leadership skills such as delegating or the ability to speak in public are also requirements for more advanced positions as most of them require the Compliance Manager to build and manage an efficient team. There are several professional certifications for Compliance Managers available:

  • Certified Fraud Examiner (CFE)
  • Certified Compliance and Ethics Professional (CCEP)
  • Certified Risk and Compliance Management Professional (CRCMP)
  • Certified Regulatory Compliance Manager (CRCM)
  • Certified Bank Compliance Officer (CBCO)

Job opportunities include:

  • Director of Corporate Compliance
  • Chief Compliance Officer

 

Mike Wood - Pharmiweb editor

Last updated on: 23/06/2015 15:35:59

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