How to Be Legal Compliance Specialist - Job Description, Skills, and Interview Questions

Aug 15, 2022 / 5 Minutes Read / By Albert

How to Become

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The increasing complexity of laws and regulations has led to the emergence of the Compliance Specialist, a highly sought-after professional whose primary responsibility is to ensure that organizations comply with applicable laws, regulations, and standards. This professional is instrumental in helping organizations navigate the complex legal landscape, identify and mitigate any potential risks, and ensure they remain compliant. Compliance Specialists are highly valued by organizations because their expertise plays an important role in protecting the organization's reputation, ensuring compliance with legal requirements, and helping to reduce the cost of potential litigation.

Steps How to Become

Earn a Bachelor's Degree. Most employers prefer applicants for legal compliance specialist positions to have a bachelor's degree in a field such as business, law or accounting. Courses in business law, finance, economics, accounting and computer science can be beneficial.
Develop Knowledge of Relevant Laws and Regulations. To become a legal compliance specialist, you must understand the laws and regulations that govern the industry you are working in. Research the laws and regulations that affect the organization you work for and become familiar with them.
Pursue Relevant Certifications. Many organizations prefer to hire legal compliance specialists that have certifications that demonstrate their knowledge in the field. The Society of Corporate Compliance & Ethics and Compliance Certification Board offer relevant certifications.
Gain Professional Experience. Many employers prefer applicants that have experience in the field. Consider internships or volunteer positions to gain the experience you need.
Advance Your Career. Consider joining professional organizations and attending conferences or seminars related to your profession to stay up to date on developments in the field.

To become a successful Compliance Specialist, one must possess a combination of essential skills and qualities. Firstly, they must have a strong understanding of the relevant laws and regulations, as well as the ability to interpret them accurately. They must also be highly organized and have excellent attention to detail when it comes to paperwork.

Furthermore, a Compliance Specialist must be able to effectively communicate with both legal and business teams to ensure that all procedures are followed correctly. having strong problem-solving and negotiation skills will prove to be invaluable in resolving any disagreements. Finally, being able to stay up-to-date with the latest changes in regulations is also essential for a Compliance Specialist to remain skilled and competent.

All these skills and qualities, when combined, enable Compliance Specialists to fulfill their role effectively, helping to protect the interests of their company and clients.

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Job Description

Draft and review legal documents and contracts to ensure compliance with federal, state and local laws
Research laws, regulations and industry standards to ensure compliance
Monitor and review changes in laws and regulations that affect the organization
Develop and maintain policies and procedures for compliance
Educate staff on legal compliance requirements
Identify potential areas of legal risk and develop strategies to address them
Represent the organization in legal proceedings, as necessary
Liaise with external parties, such as government agencies and corporate counsel, to ensure compliance
Track and report on compliance activities
Manage the implementation of compliance initiatives

Skills and Competencies to Have

Knowledge of applicable laws and regulations related to the field.
Ability to interpret and apply legal language.
Analytical and problem-solving skills.
Excellent written and verbal communication skills.
Attention to detail.
Proficiency in Microsoft Office Suite, especially Word and Excel.
Ability to work independently and collaboratively.
Ability to prioritize tasks and work under tight deadlines.
Ability to assess risk and develop compliance processes.
Knowledge of best practices in legal compliance.

The role of a Compliance Specialist is critical to the success of any business. The ability to comply with laws and regulations is essential to maintain a successful and profitable operation. Compliance Specialists must possess excellent organizational, communication, and problem-solving skills.

They must be able to understand and interpret complex legal documents, create effective policies and procedures, and ensure that the organization is in compliance with relevant laws and regulations. In addition, Compliance Specialists must be able to identify potential risks and develop strategies to mitigate them. These skills are essential for any business, which is why having a knowledgeable and experienced Compliance Specialist is so important.

Without one in place, a business may not only suffer from legal and financial issues, but also suffer from reputational damage.

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Frequent Interview Questions

How have you ensured compliance with relevant laws and regulations in past roles?
Describe a time when you identified a compliance issue and took action to resolve it.
What techniques do you use to stay up to date on changing laws and regulations?
How do you ensure that all employees are aware of and adhering to legal policies?
What strategies do you use to identify and address potential compliance risks?
When have you had to handle a situation where a policy or law was broken?
What experience do you have developing internal compliance programs?
What challenges have you faced when implementing compliance initiatives?
How would you handle a situation where an employee refuses to comply with a legal requirement?
What methods do you use to measure the effectiveness of compliance initiatives?

Common Tools in Industry

Regulatory Compliance Software. This software helps organizations comply with regulations from various governing bodies by providing automated alerts, tracking and reporting capabilities. (eg: LogicManager)
Contract Management Software. This software helps organizations create, manage, and track contracts within their organization. (eg: DocuSign)
Document Management Software. This software helps organizations store, organize, and share documents with team members. (eg: Dropbox)
Legal Research Software. This software helps organizations research laws and regulations from various governing bodies. (eg: LexisNexis)
Policy Management Software. This software helps organizations create, manage, and enforce their internal policies and procedures. (eg: PolicyTech)
Audit Management Software. This software helps organizations track and manage audits conducted by external auditors. (eg: ACL GRC)

Professional Organizations to Know

American Bar Association
American Society for Compliance Professionals
Compliance Certification Board
International Association of Privacy Professionals
International Compliance Association
National Society of Compliance Professionals
Regulatory Compliance Association
Society of Corporate Compliance and Ethics
The Association of Certified Anti-Money Laundering Specialists
The Institute of Internal Auditors

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Common Important Terms

Employment Law. Employment law is a set of laws and regulations that govern the employment relationship between employers and employees. It covers topics such as minimum wage, overtime, workplace safety, and anti-discrimination policies.
Labor Law. Labor law is a set of laws and regulations that govern the relationship between employers and employees. It covers topics such as wages, hours, collective bargaining, and union organizing.
Workplace Safety Laws. Workplace safety laws are a set of laws and regulations that govern the safety of employees in the workplace. They cover topics such as hazardous materials, workplace injuries, and occupational health.
Anti-Discrimination Laws. Anti-discrimination laws are a set of laws and regulations that prohibit discrimination against employees on the basis of race, gender, religion, national origin, age, or disability.
Contract Law. Contract law is a set of laws and regulations that govern the formation and enforcement of contracts between parties. It covers topics such as offer and acceptance, consideration, and breach of contract.
Privacy Laws. Privacy laws are a set of laws and regulations that protect personal information from unauthorized use or disclosure. They cover topics such as data security, data privacy, and data protection.

Frequently Asked Questions

What is a Legal Compliance Specialist?

A Legal Compliance Specialist is a professional who is responsible for ensuring that an organization complies with all applicable laws and regulations.

What are the duties of a Legal Compliance Specialist?

The duties of a Legal Compliance Specialist include researching laws and regulations, monitoring changes to legal requirements, implementing policies and procedures to ensure compliance, and serving as the primary point of contact for legal inquiries.

What qualifications do you need to become a Legal Compliance Specialist?

To become a Legal Compliance Specialist, you need a degree in law or a related field, such as business administration or public policy. You may also need experience in the legal field or related industries.

What is the average salary for a Legal Compliance Specialist?

The average salary for a Legal Compliance Specialist is around $76,000 per year.

What is the job outlook for a Legal Compliance Specialist?

The job outlook for a Legal Compliance Specialist is positive, with the demand for these professionals expected to grow at an above-average rate over the next decade.