Find out the top 10 core skills you need to master as a director of compliance and what hard skills you need to know to succeed in this job.
A director of compliance is tasked with ensuring that the company complies with the legal requirements, develops policies, and takes charge of the legislative affairs. He/she ensures that the company's policies are current, accurate and they comply with the regulations of the state as well as reviewing and updating policies as there are changes in the law.
In terms of other duties he/she will get to; develop compliance organizational strategies through research, analysis and recommendations, protect company assets by establishing compliance standards, attract new clients through constant improving of compliance systems, enforcing new regulations and recommendations and ensuring that all compliance activities are in line with all standard procedures, rules, and regulations.
Core Skills Required to be a Director of Compliance
Core skills describe a set of non-technical abilities, knowledge, and understanding that form the basis for successful participation in the workplace. Core skills enable employees to efficiently and professionally navigate the world of work and interact with others, as well as adapt and think critically to solve problems.
Core skills are often tagged onto job descriptions to find or attract employees with specific essential core values that enable the company to remain competitive, build relationships, and improve productivity.
A director of compliance should master the following 10 core skills to fulfill her job properly.
Negotiation Skills:
Negotiation Skills are a deliberative process by which people settle their differences through an acceptable agreement to both parties to co-exist without argument and dispute in the workplace.
A Director of Compliance must learn to resolve any disputes that arise in the workplace using the principles of fairness, seeking mutual benefit and maintaining a cordial relationship that builds a success at the workplace.
Interviewing:
Interviewing is an essential skill in making a sound hiring decision that seeks to find out the candidate's background, work experience, skill level, general overall intelligence, enthusiasm, attitudes, etc.
A Director of Compliance ought to be equipped with the right techniques to handle interviews whether they are face to face or telephone as they can be grueling and intimidating to the candidate; clarity and calmness of tone and the atmosphere are ideal.
Strategic Planning:
Strategic Planning is organizational management activity that is used to set priorities, focus energy and resources, strengthen operations while guaranteeing that employees and other stakeholders are working towards common goals.
A Director of Compliance should be liable to develop the systematic tools to be used in the organization's processes that coordinate and align resources and actions with the mission, vision, and strategy throughout the organization.
Management Skills:
Management Skills are also known as leadership skills and involve planning, decision making, delegation, time management and time management to ensure optimum organization in focus and the technical of how and why of accomplishing tasks.
A Director of Compliance must understand the business organization, finance, and communication as well as the market and the relevant technologies used to help manage everyone as they work together in a group.
Assertiveness:
Assertiveness is the inclination to stand up for your rights or other people's rights in a calm and concrete way without being aggressive or accepting a wrong.
A Director of Compliance must be self-assured and confident to master the skills to put his points across without upsetting others or becoming angry and allowing the employees to do the same while complying with the company's policies and procedures.
Emotion Management:
Emotion Management is the ability to realize, readily accept and successfully control feelings on oneself and sometimes in others around you by being in complete authority over your thoughts and feelings that are generated whenever your values are touched.
A Director of Compliance must be able to manage his emotions as well as assist the staff to control their emotions to ensure that the professional reputation, the efficiency, and productivity is not compromised.
Consistency and Reliability:
Consistency and Reliability are the ability to be trusted to do what you do best all the time with or without supervision and without failure to produce results.
A Director of Compliance is liable to maintain a high level of consistency and reliability by engaging with employees and treating them with respect deserved which produces excellent results in various kinds of reliability coefficients.
Personal Commitment:
Personal Commitment is an obligation that you have voluntarily agreed to fulfill without being cajoled or threatened and are willing to be held accountable for the results.
A Director of Compliance ought to understand that though adopting new policies and procedures will be met with resistance, the approach by which safety standards are implemented and enforced influences employee's attitudes and commitment towards the organization.
Goal and Objective Setting:
Goal and Objective Setting is the strategic plan that is set and laid down identifying how goals should be accomplished, by who and by what time.
A Director of Compliance must detect and schedule each employee's goals, strategy, and objectives and keep motivating them to ensure all of them are met within the set time bringing growth to both the company and the employee.
Entrepreneurial Thinking:
Entrepreneurial Thinking is a mindset that allows embraces critical questioning, innovation, service and continuous improvement with an attitude of change.
A Director of Compliance should challenge himself to see the big picture and creatively think outside the box too with the ability to fight all the challenges faced and keep going in the face of calamity and the social skills needed to build great teams in the workplace.
Hard Skills Required to be a Director of Compliance
Hard skills are job-specific skill sets, or expertise, that are teachable and whose presence can be tested through exams. While core skills are more difficult to quantify and less tangible, hard skills are quantifiable and more defined.
Hard skills are usually listed on an applicant's resume to help recruiters know the applicant's qualifications for the applied position. A recruiter, therefore, needs to review the applicant's resume and education to find out if he/she has the knowledge necessary to get the job done.
A director of compliance should have a good command of the following hard skills to succeed in her job.