Compliance Associate

A compliance associate ensures that their company’s employees comply with all guidelines, management directives, and human resources policies. They make sure staff members conform to industry practices and professional standards in all activities, with specific practices and standards depending on the company and field. Other tasks completed by the compliance associate include investigating and resolving compliance issues, implementing procedures for monitoring compliance guidelines, maintaining files and databases of all records relating to compliance and risk, and participating in compliance audits. They are also responsible for reviewing agency reports, formulating responses and corrective actions regarding agency reports, and distributing information regarding new and ongoing requirements. Compliance associates generally work full time in an office setting; these professionals may work in a variety of fields.

A bachelor's degree in accounting, finance, or a related field is often required for this role; a master's degree and/or relevant certifications (in areas such as internal audits and forensic accounting) may be needed as well. A compliance associate must be a proven leader, possess excellent communication skills, and be able to analyze complex initiatives, reports, and data. They also need to be able to develop criteria for gathering and reporting data, develop criteria for tools and techniques related to projects, and review and verify data for complete accuracy.

As a Compliance Associate with 0-3 years of experience in Singapore, your main responsibilities include:

• Conducting internal compliance audits to ensure adherence to regulatory and legal requirements, documenting findings, and proposing corrective actions.
• Assisting in the development, implementation, and monitoring of compliance programs, policies, and procedures to mitigate risks and maintain regulatory compliance.
• Supporting compliance training and awareness programs for employees to promote a culture of compliance.
• Assisting in the preparation and submission of regulatory reports and filings, ensuring accuracy and timeliness to meet regulatory obligations.

For a Compliance Associate job role, the following qualifications are required:

• In-depth knowledge of regulatory compliance standards and procedures to ensure adherence to applicable laws and regulations.
• Strong attention to detail and accuracy in conducting compliance assessments, audits, and risk assessments.
• Excellent research and analytical skills to identify potential areas of non-compliance and develop appropriate remediation plans.
• Effective communication and interpersonal skills to collaborate with internal stakeholders and provide guidance on compliance-related matters.

The Compliance Associate plays a crucial role in ensuring adherence to rules and regulations within an organization. If you have 0-3 years of work experience in Singapore, here are following alternative roles that you can consider:

• Risk and Compliance Analyst: This role involves conducting risk assessments, implementing compliance programs, and ensuring regulatory compliance across the organization.
• Internal Auditor: As an internal auditor, you will be responsible for evaluating and assessing internal controls, identifying risks, and ensuring compliance with policies and procedures.
• Legal Assistant: This role entails assisting the legal department in researching laws and regulations, drafting legal documents, and providing support in compliance matters.
• Data Privacy Officer: With the increasing importance of data privacy, this role involves ensuring compliance with data protection regulations, developing data privacy policies, and conducting privacy impact assessments.

The projected growth of the Compliance Associate role in Singapore is expected to be strong in the coming years. According to a 10-year analysis, the job role has witnessed a consistent increase in demand due to evolving regulatory requirements and the need for companies to maintain compliance. The market for this role is expanding, offering promising opportunities for employment. With an increasing emphasis on corporate governance, risk management, and regulatory compliance, more companies are seeking compliance professionals to ensure adherence to regulations. The future looks promising for individuals seeking employment in this field in Singapore.