Business and administration
Regulatory compliance officer
Performing regulatory services functions and/or supporting compliance activities.
Summary
The main purpose of regulatory compliance is to ensure that organisations operate within the boundaries of the regulations that they are subject to.
The occupation is found in compliance functions of small, medium, large and multinational organisations. These organisations work in private, public and third sectors including Government departments, local authorities, environmental health, gambling and licencing, health and social care organisations, retail, education institutions and charities. The occupation is also found in national regulators such as the Food Standards Agency (FSA), Health and Safety Executive (HSE), Office for Product Safety and Standards (OPSS) or Environment Agency
The broad purpose of the occupation is to perform various regulatory compliance functions, support businesses and individuals to comply with relevant legal, regulatory and organisational requirements, identify risks which may result in non-compliance by businesses or individuals and assist in further developing policies and procedures to mitigate any identified risks. Individuals should be excellent communicators providing clear advice and guidance and have the ability to work independently, taking responsibility for their own caseload and responsibilities.
In their daily work, an employee in this organisation interacts with key stakeholders, regulators, clients, customers, suppliers and employees within other business functions internally. They use these interactions to build and manage relationships and to provide excellent service in helping individuals perform within their regulatory landscape.
An employee in this occupation will be responsible for obtaining information and data and using digital skills to make risk assessments as to the extent to which businesses and individuals meet regulations and standards for a specific sector.
Typical job titles include
- Regulatory compliance officer
Knowledge, skills and behaviours (KSBs)
K1:
The role of regulation as a tool of Government through statutory and non-statutory measures.
K2:
Legal and regulatory frameworks and how they apply to businesses and individuals within their sector.
K3:
The statutory and non-statutory regulations relevant to their regulatory function(s).
K4:
The relationship between legal and regulatory requirements of a sector and the sector and organisational requirements through codes of practice, policies and procedures.
K5:
The roles and responsibilities of partner organisations and their interrelationships.
K6:
Risk assessment as a tool to support compliance and protect businesses and individuals.
K7:
The business environment that Regulatory Compliance Officers work in and the effect on businesses and individuals in their sector.
K8:
Intervention methods available to businesses and individuals to secure compliance.
K9:
Techniques available to a regulatory compliance officer to assess compliance, monitor progress and identify trends
K10:
How regulation and the way it is enforced can impact on the businesses regulated.
K11:
The factors that affect approaches taken by businesses and individuals to compliance and the responses of businesses and individuals to these factors.
K12:
Statutory and non-statutory interventions available to a Regulatory Compliance Officer to assess and respond to identified non-compliance.
K13:
The need to provide compliance support to businesses and individuals they work with.
K14:
The products and services provided by businesses in the sector in which they operate and the potential risks to compliance associated with these.
K15:
The purpose of auditing and inspection and associated techniques, processes and documentation.
K16:
Types of internal controls that businesses can have in place to support compliance.
K17:
Types of data and methods to analyse data that can contribute to the assessment of a business or individual’s compliance with legislation, regulation and organisational requirements and their sources.
K18:
How to source and access and present appropriate data to solve problems and address business need, ensuring data integrity and being mindful of data bias.
K19:
Legal, regulatory and organisational requirements related to data storage, retention and sharing.
K20:
The value of feedback from those they regulate, and the beneficiaries of legislation, regulation and organisational requirements, such as consumers, in informing future activities.
K21:
Communication methods and techniques, including digital technologies used to extract and convey information to different audiences in different situations.
K22:
Principles of customer service and their application to interacting with key stakeholders when carrying out duties.
K23:
Principles and policies of equity, diversity and inclusion relevant to their role and their impact on the organisation and its stakeholders, including the impact of unconscious bias.
K24:
Techniques for managing a caseload and own wellbeing.
K25:
Ethical practices that seek to preserve the trust of stakeholders including the need for fairness, accountability and transparency.
Technical Educational Products
- ST0430: Regulatory compliance officer (Level 4) Retired
- Reference:
- OCC0430
- Status:
Approved occupation
- Average (median) salary:
- £44,063 per year
- SOC 2020 code:
- 2482 Quality assurance and regulatory professionals
- SOC 2020 sub unit groups:
- 2482/01 Compliance and regulatory professionals
- 2482/02 Quality assurance professionals
S1:
Work within legal and regulatory frameworks and the organisation's policies and procedures.
S2:
Make informed assessments of the risk of a business or individual’s non-compliance.
S3:
Use outcomes of risk assessment to guide decisions, activities and targeting of resources.
S4:
Make proportionate and risk-based intervention choices to ensure compliance is achieved.
S5:
Collect evidence and data related to non-compliance using available techniques, for example investigations, audits, inspections.
S6:
Take actions to deal with non-compliance using proportionate interventions.
S7:
Monitor progress made by businesses and individuals against assessed risks.
S8:
Assess products and services, including any associated internal controls to ensure they meet legal, regulatory and organisational requirements.
S9:
Use and analyse data, making decisions about the relevance, quality and accuracy to inform evidence-based and objective risk assessments.
S10:
Take a systematic approach to data curation and apply data quality controls to ensure the correct use of data-driven findings.
S11:
Identify patterns and trends in compliance issues.
S12:
Promote the importance of compliance and their organisation’s role in supporting compliance.
S13:
Build and maintain good working relationships with stakeholders and tailor their approach to the needs and circumstances of those they interact with.
S14:
Communicate with stakeholders including businesses, individuals and regulators.
S15:
Use digital technologies to manage, share and store information and to communicate with others.
S16:
Follow and apply equity, diversity and inclusion rules and procedures when making evidence-based decisions and interacting with stakeholders.
S17:
Use workload management techniques to plan, organise and prioritise own tasks and manage time effectively.
Technical Educational Products
- ST0430: Regulatory compliance officer (Level 4) Retired
- Reference:
- OCC0430
- Status:
- Approved occupation
- Average (median) salary:
- £44,063 per year
- SOC 2020 code:
- 2482 Quality assurance and regulatory professionals
- SOC 2020 sub unit groups:
- 2482/01 Compliance and regulatory professionals
- 2482/02 Quality assurance professionals
B1:
Works sustainably ensuring resources are used efficiently and responsibly
B2:
Acts in a professional manner with integrity and confidentiality.
B3:
Works flexibly and adapts to circumstances
Technical Educational Products
- ST0430: Regulatory compliance officer (Level 4) Retired
- Reference:
- OCC0430
- Status:
- Approved occupation
- Average (median) salary:
- £44,063 per year
- SOC 2020 code:
- 2482 Quality assurance and regulatory professionals
- SOC 2020 sub unit groups:
- 2482/01 Compliance and regulatory professionals
- 2482/02 Quality assurance professionals
