Find out the top 10 core skills you need to master as a regulatory manager and what hard skills you need to know to succeed in this job.
A regulatory manager is responsible for ensuring that an organization complies with the regulatory standards accordingly. They prepare documents and avail reports to the regulatory agencies as well as providing information about services or products as required by the agency.
Aside from the preparation of documents required by the regulatory agencies, he/she is responsible for making sure that the company is not sued by working together with the legal department staff to ensure optimum compliance. They are also mandated to prepare local working standards to facilitate effective compliance, training the staff on best compliance practices and staying updated regarding new regulatory standards and related legislations.
Core Skills Required to be a Regulatory Manager
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 regulatory manager 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 Regulatory Manager 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.
Multi-Tasking:
Multi-Tasking allows one to juggle and perform more than one task at a time without losing track of what you are working on or dropping the ball.
A Regulatory Manager must learn the trick of multitasking and help the staff balance the competing demands of their time and energy that they are expected to handle multiple priorities every day without compromising on the effectiveness of the work done.
Motivating others:
Motivating is using persuasion, incentives and mental or physical stimulants to influence the way people think or behave individually or in groups.
A Regulatory Manager ought to learn how to tap into the employee's enthusiasm as well as motivate the staff not just with money but with a motivation that comes through the daily relationship with each employee and creating an environment that fosters employee engagement and motivation.
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 Regulatory Manager 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.
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 Regulatory Manager 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 Regulatory Manager 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 Regulatory Manager 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.
Managing Details:
Managing Details is the skill of paying close attention to details of every element of your job performance to ensure nothing is overlooked.
A Regulatory Manager should be keen to handle every detail using strategic planning and organizational techniques that make it easy to keep track of everything that is happening in the organization consistently desiring to improve their knowledge and skills.
Business Etiquette:
Business Etiquette is a basic framework of rules set by companies to ensure and allow you to understand the way you should conduct yourself in the professional world.
A Regulatory Manager must establish the tone for proper behavior in the workplace by making sure all the distinct boundaries are laid out for everyone to follow and understand the implications of defaulting.
Entrepreneurial Thinking:
Entrepreneurial Thinking is a mindset that allows embraces critical questioning, innovation, service and continuous improvement with an attitude of change.
A Regulatory Manager 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 Regulatory Manager
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 regulatory manager should have a good command of the following hard skills to succeed in her job.