Regulatory compliance specialists are experts who make sure organizations comply with industry specifications, standards, regulations, and laws. They evaluate operational practices, processes, and documentation. They develop and enforce compliance plans.
Also, they perform regulatory risk management. These professionals can either be employed by organizations or work as consultants. Moreover, they'll work with stakeholders to resolve compliance-related issues and perform compliance audits. Additionally, they train staff in compliance practices and procedures.
For this role, a bachelor's degree in a related field is mostly required with at least five years of relevant work experience. Having accredited qualifications in regulatory and compliance assurance is of added advantage. You must possess analytical, organization, interpersonal, and communication skills. You must be conversant with industry regulations and governing laws. Also, you must be proficient in office and compliance management software. Annually, you'll earn a whopping sum of $110,807 which can vary from $78,000 to $157,000.
There is more than meets the eye when it comes to being a regulatory compliance specialist. For example, did you know that they make an average of $29.81 an hour? That's $62,010 a year!
When it comes to the most important skills required to be a regulatory compliance specialist, we found that a lot of resumes listed 19.1% of regulatory compliance specialists included regulatory agencies, while 8.7% of resumes included risk assessments, and 7.8% of resumes included internal audit. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the regulatory compliance specialist job title. But what industry to start with? Most regulatory compliance specialists actually find jobs in the health care and manufacturing industries.
If you're interested in becoming a regulatory compliance specialist, one of the first things to consider is how much education you need. We've determined that 59.8% of regulatory compliance specialists have a bachelor's degree. In terms of higher education levels, we found that 11.3% of regulatory compliance specialists have master's degrees. Even though most regulatory compliance specialists have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a regulatory compliance specialist. When we researched the most common majors for a regulatory compliance specialist, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on regulatory compliance specialist resumes include associate degree degrees or doctoral degree degrees.
You may find that experience in other jobs will help you become a regulatory compliance specialist. In fact, many regulatory compliance specialist jobs require experience in a role such as administrative assistant. Meanwhile, many regulatory compliance specialists also have previous career experience in roles such as law clerk or internship.