What is a compliance officer? What they do, job duties and more

What do compliance officers do?

A compliance officer is a professional responsible for ensuring that an organization adheres to legal regulations, internal policies and ethical standards.

In this role, you could be overseeing anti-money laundering measures in a financial institution, ensuring safety protocols in a manufacturing facility or monitoring data privacy for a tech company. By proactively identifying and addressing potential risks, compliance officers can prevent violations and maintain a company’s accountability.

“A career as a compliance officer is a perfect choice for someone with a strong sense of integrity and a high level of attention to detail,” said Jennifer Ward, an assistant teaching professor at Arizona State University’s Sandra Day O'Connor College of Law.

James Maguire, a faculty associate at the law school, added, “Compliance is a rewarding career that has a variety of uses; whether dedicated strictly to compliance and privacy roles, or in areas where these skills are highly transferable such as operations and business development”.

Daily job duties and responsibilities

As a compliance officer, your daily responsibilities might involve conducting routine audits, updating policies, providing training or serving as a point of contact for regulatory agencies. This could include reviewing financial transactions for irregularities, ensuring safety procedures on job sites or addressing employee concerns about workplace ethics. Overall, compliance officers focus on helping maintain the operational integrity of an organization to protect employees and minimize legal risks.

“They are often the company’s ‘first responders’, taking action at the first sign of compliance trouble,” noted Martin Biegelman, a faculty associate at ASU’s College of Law. “With a blend of knowledge, expertise and swift and decisive action, compliance officers can minimize legal and ethical damage.”

The skills you’ll need to succeed

“Compliance officers require a number of skills and qualities,” noted Biegelman. “They include an understanding of laws and the regulatory environment, leadership and leading by example, effective communication skills, dealing with ambiguity, problem-solving skills, risk assessment and mitigation, relationship-building, analytical reasoning and more.”

“A key asset for a compliance officer is a deep understanding of the law, along with the ability to keep up with frequent legal changes,” added Ward.

Some of the most important skills that compliance officers need to possess are:

• Adaptability: Staying updated on changing laws and regulatory requirements.
• Analytical thinking: Strong problem-solving skills to assess compliance risks and develop effective solutions.
• Attention to detail: The ability to identify risks or non-compliance issues in policies and practices.
• Communication skills: The ability to explain complex regulations clearly to employees, management and stakeholders.
• Conflict resolution: Addressing compliance issues and resolving disputes effectively.
• Ethical judgment: A strong sense of integrity and the ability to make unbiased decisions.
• Organizational skills: Managing compliance audits, training sessions and documentation efficiently.
• Project management: Coordinating multiple compliance programs and initiatives simultaneously.
• Regulatory knowledge: A deep understanding of industry-specific laws, regulations and standards.
• Technological proficiency: Familiarity with compliance management software and data analysis tools.

Earn your online Master of Legal Studies with Arizona State University

Pursuing a career as a compliance officer requires a strong foundation and hands-on experience in regulatory knowledge to navigate complex legal standards. ASU Online’s Master of Legal Studies (MLS), provides you with a comprehensive education that combines legal principles with specialized compliance training. The professors who teach these courses are subject matter experts in their fields, including experience as compliance officers.

For example, faculty associate Martin Biegelman served as the Microsoft Corporation’s first ever director of financial integrity, where he created and led a global business conduct investigations and compliance program. “I leverage that experience in the two MLS program courses I teach, incorporating both theory and practice in my teaching using my real-world case studies, stories, and knowledge,” he said. “In my Conducting Fact Investigations and Reporting course, my students hear what it’s like to conduct an investigation, how to overcome obstacles, how to present the strongest and fairest case possible, and in the process promote organizational justice and corporate compliance.”

“This program prepares students to navigate the complex regulatory environments in both corporate and healthcare sectors, covering business law, risk management, privacy laws, fraud examination, compliance fundamentals and ethics,” Maguire shared. In this program, you’ll complete courses in criminal law, U.S. law and legal analysis, fundamentals of contract law, administrative regulations and more related subjects.

“By earning a respected MLS degree from ASU, and relevant certifications, students are well-prepared for rewarding careers in corporate or healthcare compliance, advancing their professional standing in the compliance field,” Maguire added.