Introduction
Every organization has various rules and organizations that govern its operations. The rules and regulations are basically meant to ensure that the operations including the code of conduct and behavior of employees are put under control. A society without rules and regulations cannot progresses as everybody would act as they desire. This would bring about commotion and conflict. Rules and regulations are therefore very important in promoting the growth of any given society. It is therefore important that every person follows the laid down rules without possible flouting. To comply means to follow strictly the laid down rules and regulations.
Nature of the Job
Industrial compliance is one of the most controversial issues of the time. This is so because most industries do not comply with the laid down rules and regulations and so are their policies. Most industries find it easier to use shortcuts as this helps maximize profits at the lowest possible costs. The compliance industry's main aim and goals is to ensure that activities of industries are carried out at the lowest possible costs, while still ensuring that the laid down rules and regulations either in the constitution or any legislations are not in any way flouted.
New legislations have provided for a compliance Act whereby every organization or company is required to have a compliance department. The compliance jobs entail checking thoroughly all the activities of that particular organization and ensuring that they are all in line with the relevant set rules and regulations. Compliance jobs are however more often found in banks. Bank employees have an obligation to act within the set laws and regulations. Failure to act as aforementioned may attract heavy penalties on the part of the employee. Therefore the main aim of compliance jobs is to ensure that individuals within organizations stick to the laid down rules without possible misconduct as this would put the organizations into serious trouble.
It is also required that people taking compliance jobs must exercise high levels of integrity making sure that honesty is maintained at all times. There are many reasons why people opt to join this particular field of industrial compliance. Besides any personal reasons that a person may have, it is a fact that there are many benefits that are tied with the compliance jobs. Firstly, unlike most other career fields, the compliance industry is quite vast thus there are numerous opportunities in this field. In addition, one does not only get a job opportunity but also an opportunity to grow as an all round person. The compliance industry therefore provides opportunities that may not be found in any other career field. Every organization has a compliance department and thus has compliance jobs.
Another advantage is that the compliance industry is not selective when it comes to the professional affiliation of a person. This means that the compliance industry is open to any professional as the compliance industry is as wide as the careers and professions are. It is however worth mentioning that for someone who desires to reach the topmost of an organization and hold the title of a CEO the compliance industry may not be a good option. This is so because, in the compliance industry the highest position one can ever hold is Chief Compliance Officer. It however does not mean that one cannot grow in this particular field.
Earnings
Besides other benefits that are attached to the compliance industry, it may also be wise to look at the remuneration. People taking compliance jobs are moderately remunerated and there are hefty benefits in terms of allowances that come with each salary package. For instance, a survey conducted recently indicates that employees in the compliance industry are remunerated between $120,000 to 206,800. This however varies with the particular industry one is and also the different organizations. Experience also plays a key role in determining the amount of salary that one earns with those having experience gaining more in terms of earnings.
How to join the Compliance Industry
To be able to join the compliance field, there are some requirements that one need to have. Besides having basic educational background and preferably belonging to a certain career field, there are some personal attributes that employees in the compliance industry will always look out for. Some of these attributes include the ability to exercise honesty and integrity. In simpler terms, dishonesty is totally unacceptable and intolerable in this particular career field. In addition one must be able to work under minimum or no supervision at all. Ability to handle pressure from work is equally an attribute that employers in the field of compliance will always prefer. Other attributes that employers in the compliance industry look out for are the attention to details, a deep sense of responsibility and obligation and a source of inspiration to other people.
Job titles
As mentioned already, the compliance industry is actually an open field where every professional may give it a try. For that reason therefore, the job titles in the compliance industry are equally many as the professions are. One of the job titles is a compliance officer. A compliance officer normally works in the financial departments of institutions, especially banks. Although any person can occupy the position of a compliance officer, a person with better understanding of the operations of the industry is more preferable as he is better positioned to work in that particular position. The major function is to ensure that that particular organization is in compliance with the laid down rules especially in terms of finances. Other job titles include compliance manager, and compliance assistants among others. They all play the same role but differ slightly due to the academic qualifications; hence some are more senior than others.
Conclusion
In conclusion, it is clear from the above discussion that compliance field and industrial compliance to be specific is quite a wide field and what's more it is very accommodative. It is actually one career that allows any professional to join without many limitations as it is with other fields. Therefore for any person who believes that they possess the aforementioned attributes and skills, maybe it is time to consider switching careers to compliance industry.
