If you are a person with strong analytical, interpersonal and organization skills then compliance attorney jobs are apt for you.
Responsibilities of a Compliance Attorney
Compliance attorneys are required to serve as primary person for compliance programs and ethics of a company. They also ensure that the company exercises sound internal control and diligence for carrying out regular operations with integrity while being protected against legal risks. A compliance attorney is responsible for developing and documenting compliance policies, procedures and ethics for meeting SOX and OIG requirements, OCG framework and federal sentencing guidelines. He maintains, manages and implements training on the compliance related and hot line processes. He also provides legal supports to audits and compliance investigations. He works with human resources and senior management for evaluating and responding to the alleged compliance violation, for consistent enforcement and remedial action protocol. Compliance attorneys draft and review the legal documents of the company. They also provide advice to the employees on regulatory and legal issues regarding sales, vendors and marketing.
Compliance attorneys have a hand in development and implementation of the internal compliance procedures and policies that include legal ethics law, legislative amendments in the foreclosure industry, client errors and internal investigations. They manage the claims of the clients well and also provide with the remedial action. Providing assistance to client complaints, claims and lawsuits is also handled by the compliance attorneys.
They work with the companies to conduct internal investigations into probable non-compliance allegations and irregularities. Unregistered and registered investment managers seek advice from compliance attorneys with emphasis on private equity and hedge funds. The advice cover various issues relating to agency cross transactions, registration requirements, record keeping, trade allocations and valuations.
With broad understanding of drafting compliance procedures and policies, compliance attorneys conduct compliance reviews that help clients in identifying the areas that require improvements. Clients are also provide counseling regarding compliance inspections and also take support of the litigation for ensuring a great outcome.
Educational and Skill Sets for Compliance Attorney Jobs
Good written and communication skills are the basic requirement for this profession. Compliance attorneys should be able to interact with employees and attorneys across the firm. They should pay attention to the minutest details as they have a crucial responsibility to review, negotiate and draft the legal documents, on their shoulders. Aspiring compliance attorneys should be well versed with their jobs as they have to manage the litigation matters.
They should be convincing and honest as they provide counseling as well as advice about product development, examination and regulatory compliance. These professionals should be spontaneous with strong analytical skills. They are required to evaluate, address and react to the regulatory enquiries.
Compliance attorneys for starting their career must at least have three to five years of experience in the ethics, regulatory and compliance field. Some experience in development and implementation of the compliance policies, procedures and tools is an added advantage. These individuals have to deal with the management of compliance matters, so they should have some in experience in that field too. The extensive experience of working with corporate officers and human resource managers helps in making and exercising compliance programs.
Future of Compliance Attorney Jobs
There is a need of efficient professionals to handle the legal complications within an organization. Around 77% of the compliance attorneys do not face any difficulty in getting the jobs even in the troubled economy. Bad state of economy has not affected the compliance attorney jobs and they are confident about their moving roles. With the unemployment still at hike and despite of economic uncertainty, employment opportunities for compliance attorneys has not faced any downfall. Average salary of the compliance attorney is around $59,000. The salary can vary on the basis of location, company, industry, benefits and experience of the attorney. The overall job prospects for compliance attorney jobs are good.
If you are an aspiring compliance attorney, make sure that you acquire appropriate degree and experience to be successful in your field. If you are not good at what you do then you will not be absorbed by the employers. The candidates should be very efficient and well versed with the work to make a name in their niche.
