How To Become a Regulatory Compliance Officer
October 21, 2009 by admin
Filed under Career Planning
An answer to this question lies in understanding what regulatory compliance is. In layman terms, regulatory compliance means adhering to or satisfying “the laws of the land”. These can consist of statutes or laws enacted by the legislature or the rules and regulations created by various departments, governmental and quasi-governmental bodies which fall under the executive branch of government. To hark back to an elementary Civics 101 lesson, the legislative branch of a government creates the law, the executive branch implements the law and the judiciary interprets the law. Regulatory compliance, therefore, falls mainly under the purview of the executive branch of the government, which functions through the various entities mentioned above.
Contrary to popular opinion, regulatory compliance is not limited to the world of money and finance alone, though we certainly often hear more about this type of compliance. Each and every industry, whether pharmaceutical, healthcare, environmental, manufacturing, etc has its own list of laws, rules and regulations which must be followed by all participants engaged in that industry. Regulatory compliance is a dynamic field, which means that there is a constant process of amendment or new norms being added almost every day as new issues or problems are identified! So, what exactly is required to become a compliance officer? Here’s the inside scoop…
- Qualifications: …
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