How to Become a Lead Compliance Analyst?
Steps to Become a Compliance Analyst
Compliance analysts ensure that companies are operating according to state and federal regulations. While a formal education is necessary, compliance analysts must possess skills that you can't learn in a classroom. Successful compliance analysts excel at communication, organization, and complex problem-solving, and they also have to interact with and educate members of different departments within companies. If you're comfortable offering constructive critiques and assisting your fellow employees, this might be a good role for you. In this article, we provide five steps for becoming a compliance analyst.Pursue a relevant degree.
Compliance analysts typically hold a bachelor's degree related to the industry that they choose to work in. For example, if you plan on working as a compliance analyst for a financial company, you'll want to pursue a bachelor's degree in financial management or accounting. A bachelor's degree in a computer-related field will come in handy if you plan on working in the computer technology industry.
While employers don't always require compliance analysts to have a master's degree, earning one can help you stand out among other potential hires. Plus, with a master's degree, you're more likely to qualify for a promotion.
Apply for a compliance analyst internship.
As you enter your junior year of college, you'll be eligible for available compliance analyst internships. Compliance interns assist with testing policies and procedures, updating files, and preparing process documents and flowcharts. Completing an internship will give you much-needed practical experience and allow you to grow your professional network. Internships can often turn into permanent positions, but even if yours doesn't, it's still an excellent addition to your resume.
Apply for entry-level compliance positions.
After completing your degree and gaining experience as an intern, it's time to apply for an entry-level compliance job. Companies typically recent graduates as compliance specialists or assistants before promoting them to analyst positions. An entry-level role will give you time to learn how the company you work for operates and familiarize yourself with your industry's regulations.
Earn a professional certification.
Compliance is an ever-evolving field, so it's essential to stay updated with industry developments and continue your training. The Society of Corporate Compliance and Ethics offers a Certified Compliance and Ethics Professional (CCEP) credential that will help you expand your knowledge and prove to your employer that you have the necessary skills to work as an analyst. Plus, earning a certification is an excellent way to demonstrate your commitment to the industry.
Apply for compliance analyst jobs.
Once you have a few years of experience in compliance to add to your resume, it's time to apply for compliance analyst jobs. Don't hesitate to find a position with a new company if there aren't any opportunities to advance in your current workplace. It isn't uncommon for compliance analysts to work for various companies throughout the course of a career.
Lead Compliance Analyst Career Path
Lead Compliance Analyst
Principal Compliance Analyst
Senior Principal Compliance Analyst
Salary Trajectory
Lead Compliance Analyst Career Path
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