Over time various job industries have become extinct. This is due to the many changes that have taken place in technology, society, and the world. Though these changes have caused a number of job industries to become obsolete, they have contributed to the creation of new careers and job fields. One of the job fields or titles is compliance officer. These individuals are responsible for fixing company issues and preventing fraud.
It has been reported that the need for compliance officers have grown from zero to tens of thousands in just 20 years. These officers are responsible for preventing, locating, and repairing regulatory and ethical problems that exist within a business or company. Though the need for compliance officers has seen rapid growth just over the past 20 years, it has been forecasted that the need will grow exponentially. The growing need of compliance officers is due to the increased rules and regulations that the federal and state government has created for the businesses to abide by.
It is true that many people have stepped up to fill the current compliance officer needs but this does not mean that the job is simple and easy to do. In order to be a successful compliance officer one must be able to pay attention to detail, closely abide by a set of internal controls, and be able to connect and influence leadership members to make necessary changes within a company. If certain guidelines are not followed by a business then the consequences in the form of fines can be issued.
The growing opportunities in the corporate compliance field have caused a number of universities to create courses and degree programs that help to educate and equip individuals to becoming a compliance officer.
In addition to corporate compliance officers being an expanding job field, it is also a great career because it has many advancement opportunities. Also, these particular jobs are not only confined to the United States borders. Since many companies today are multinationals, there is a need from compliance officers.
Helane Morrison’s profile is an example of how some people ‘fall’ into the role of compliance officer. Her current title is Managing Director, General Counsel, and Chief Compliance Officer of Hall Capital Partners LLC. She stepped into her current position in 2007. Before stepping into her current position Morrison worked in the U.S. Securities and Exchange Commission from 1999 to 2007.
Other previous career opportunities help to prepare and shape Morrison for her role in the corporate compliance position. She practiced law from 1986 to 1996 where she focused on SEC matters, litigation, and private securities. Her knowledge of the law and ability to pay attention to detail has helped to ready her for her role in the corporate compliance field.