what does a regulatory compliance attorney do

The Regulatory Compliance Attorney II is responsible for monitoring and researching regulatory compliance issues relating to insurance operations for the Globe Life family of companies, and preparing summary analysis, drafting documents and making recommendations to the Chief Compliance Officer and senior management.

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What does a compliance attorney do?

A compliance attorney serves as the primary point person for a company’s ethics and compliance program, ensuring that the company exercises due diligence and sound internal controls to operate with integrity and protect against legal risk.

What does a Regulatory Compliance Specialist do?

The job of a regulatory compliance specialist is to ensure that the organization or company they represent adheres strictly to the laid down regulations obtainable both at the federal and state levels. His/her job description entails addressing compliance issues in an organization.

What does a regulatory lawyer do?

The role of a regulatory lawyer The role of a regulatory lawyer Legal professionals in the regulatory sector can work across a wide variety of markets such as pharmaceuticals, energy and telecommunications.

What do regulatory compliance directors study in college?

The Regulatory Compliance Directors who went onto college to earn a more in-depth education generally studied Business and Law, while a small population of Regulatory Compliance Directors studied Biology and Nursing.

Is regulatory compliance a good career?

Job security for top compliance professionals That amounts to about 6,900 openings projected per year on average, due to compliance officers moving to other firms or retiring. Meeting regulatory compliance mandates is a top pressure point for accounting and finance organizations.

What is the difference between legal and regulatory compliance?

Laws are also rules that govern everyone equally, while regulations only effect those who deal directly with the agency who is enforcing them. In other words, a law can govern the action of both the DEP and the FBI, but the DEP cannot write regulations that would be enforceable to the FBI.

What are regulatory compliance requirements?

Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business processes. Violations of regulatory compliance often result in legal punishment, including federal fines.

What is the role of compliance counsel?

In your capacity as Compliance Counsel, you will be in charge of ensuring that our company complies with relevant laws and policies. This includes staying abreast of developments, interpreting laws in the context of the company's activities and ensuring that key personnel are in possession of necessary information.

Can a lawyer become a compliance officer?

As the demand for lawyers declines, more legal professionals are transitioning into the compliance field. In most cases, this trend makes sense. Lawyers can make excellent compliance officers. However, a compliance officer does not have to be a lawyer.

Does compliance mean legal?

Compliance is the state of conforming to applicable laws. There are many ways to apply the compliance definition, such as compliance with industry regulations in the business world or compliance with laws in the realm of civil and criminal law.

What are the four types of compliance?

Figure 6 depicts the four types of compliance behaviour (deliberately compliant, accidentally non-compliant, accidentally compliant and deliberately non-compliant) and the contribution that intention and/or administrative effectiveness provides to the performance of the behaviour.

Who does the regulatory compliance?

Regulatory compliance involves following external legal mandates set forth by state, federal, or international government. In contrast, complying with company policies and procedures involves following internal requirements set forth by the business. Both, however, help drive accountability in the workplace.

Is regulatory compliance a skill?

We ranked the top skills based on the percentage of Regulatory Compliance Specialist resumes they appeared on. For example, 19.1% of Regulatory Compliance Specialist resumes contained Regulatory Agencies as a skill.

Does a compliance officer need to be a lawyer?

Unlike a COLP, the COFA does not need to be a lawyer. This allows practices greater flexibility about who they can appoint.

What are the five key functions of a compliance department?

A compliance department typically has five areas of responsibility—identification, prevention, monitoring and detection, resolution, and advisory. A compliance department identifies risks that an organization faces and advises on how to avoid or address them.

What questions are asked in a compliance interview?

Compliance interview questions with sample answersWhat would your compliance program look like in our organization? ... How have you handled a compliance conflict in the past? ... What certifications or training have you received in compliance? ... What would be your first steps for a new compliance assignment?More items...•

Why is compliance important for lawyers?

Compliance also allows lawyers to marry their legal skills with other interests and strengths, like a passion for health care. Add in the good work-life balance, solid ...

Do lawyers need a law degree to be a compliance lawyer?

As effective communicators and problem solvers, lawyers can leverage their legal training in compliance, even though a law degree may not be required. In fact, compliance is often not technically a legal role, and compliance professionals typically do not provide legal opinions or represent their firms.

Is compliance booming?

Given its wide reach and relevance, it’s no surprise that compliance is booming, especially in such areas as financial services, health care, and government. The ever changing regulatory and technology landscape keeps compliance professionals on their toes as well.

What is the role of regulatory compliance officer?

Therefore, the regulatory compliance officer is saddled with the responsibility of ensuring that an organization or firm take necessary steps to comply with relevant laws, policies, and regulations in the process of attaining the goals and objectives that the particular organization aspires. A regulatory compliance officer owes his ...

What is regulatory compliance?

A regulatory compliance officer ensures that an organization complies or operates in conformity with its outside regulatory and legal requirements, as well as internal policies and bylaws. Generally, compliance refers to the act or process of conforming to a rule, such as a specification, policy, standard, or law.

What degree do you need to become a regulatory officer?

However, various industries or fields such as law, accounting, science, and financial management require regulatory officers to possess at least a Bachelor’s degree, several years of professional experience, and some specialization in the relevant field.

What is the role of disciplinary policy in a company?

Ensuring standards through disciplinary policies to ensure the organization achieves and maintains government compliance. Creating and implementing organizational policies, standards, and procedures to comply with applicable regulations.

What is regulatory compliance?

A regulatory compliance specialist is expected to be an expert in a particular field or industry . This is because there is need for a compliance specialist in various sectors, including banking, health care, government, manufacturing, etc. Regulatory compliance specialists are also responsible for keeping track of the company’s compliance.

What skills are required for a regulatory compliance specialist?

Computer skills: It is also important that applicants have strong computer skills and use of software application (s), including MS Windows, MS Office (Word, Excel, and PowerPoint) Communication skills: The regulatory compliance specialist job involves providing counsel, education, and providing answer to compliance related questions, and reporting.

How much does a regulatory compliance specialist make?

According to online sources, the average salary of a regulatory compliance specialist falls between $48,000 and $61,000. This can be negotiated depending on the agreement between the regulatory compliance specialist and the employer. It could be lesser or higher.

Do you have to include regulatory compliance on your resume?

If you have had some experience working as a regulatory compliance specialist and are now writing a new resume, you will have to include the professional or job experience section to your resume to show the experience .

What is a compliance officer?

Regularly reporting on compliance status and measures to both internal and external parties. Preparing for and facilitating third-party audits as necessary. Acting as a liaison between their organization and state, local, federal, and international agencies to submit required forms and paperwork.

What is regulatory affairs specialist?

Domain expertise: To be effective in the role, a regulatory affairs specialist must be an expert in the domain of their company or organization. This means having a deep understanding not just of the products or services offered by the company, but also of the broader industry in which the company operates and the agencies that regulate it.

What industries do regulatory affairs specialists work in?

Most often, they work in the food and beverage, pharmaceutical, and medical devices industries, though many other companies—such as those that produce automotive or mechanical components, and even financial services—also require regulatory compliance. Because most regulatory affairs specialists ...

What is the sense of mission of regulatory affairs?

Sense of mission: The best regulatory affairs specialists—those that truly make a difference—do not simply see regulatory affairs as a job. They understand the importance of their role in protecting consumers from danger and are compelled by this mission to reduce harm.

Why is it important to have a more focused role in regulatory?

A more focused role allows for increased specialization compared to organizations with smaller teams, which may require more flexibility from workers. Some of the most common tasks and responsibilities of regulatory specialists include:

What skills are needed to work in regulatory affairs?

Communication skills : While regulatory expertise is essential to working in regulatory affairs, it’s useless if you cannot effectively communicate with those around you, whether they be coworkers, team members, vendors, or customers.

Why is it important to stay abreast of regulatory developments?

Continuing education: Because the regulatory affairs industry is rapidly evolving as new regulations and technologies are created , it’s critical that regulatory professionals stay abreast of the latest developments affecting the industry. Network: Who you know in the industry can have a major impact on your career.