Skills & Competencies for Compliance Specialist III

Compliance Specialist III job profile

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JOB SUMMARY for Compliance Specialist III

Supports the development and implementation of compliance programs, policies, reporting, and practices for an organization or business.

JOB RESPONSIBILITIES for Compliance Specialist III

Monitors activities impacted by regulatory requirements related to the organization's governance and any industry-specific or location-specific laws. Utilizes established internal controls and auditing systems to identify, detect, and correct noncompliance. Implements changes to compliance processes due to new or amended regulations. Prepares and updates communication materials. Assists with training initiatives that inform stakeholders about compliance requirements.

Compliance Specialist III SALARY RANGE

BASE 50%
$96,420
TOTAL 50%
$100,419
Job Level
P03
Job Code
FA06000732
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Compliance Specialist III Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Compliance Specialist III skill and competencie below to view definitions.
JOB FAMILY COMPETENCIES CORE COMPETENCIES
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2 general skills or competencies (Job family competencies) for Compliance Specialist III

1 Job Family Competencies – Training and Development
Proficiency Level -2
Skill definition-The process of improving the job performance of an individual or group through structured and planned training sessions.
Level 1 Behaviors
(General Familiarity)
Compiles a list of risks and challenges in the training and development process.
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Level 2 Behaviors
(Light Experience)
Applies appropriate methods and tools in assessing the learning needs of a specific group of employees.
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Level 3 Behaviors
(Moderate Experience)
Assesses training needs to develop a curriculum in support of employee skill development.
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Level 4 Behaviors
(Extensive Experience)
Creates the strategy and oversees the design, development and delivery of training programs to ensure compliance with regulations.
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Level 5 Behaviors
(Mastery)
Champions the adoption of assessment instruments to evaluate learning outcomes.
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2 Job Family Competencies – Compliance Monitoring
Proficiency Level -3
Skill definition-Ensuring that the staff is following all policies and procedures in our business.
Level 1 Behaviors
(General Familiarity)
Compiles a list of compliance monitoring challenges, gaps, and regulatory needs.
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Level 2 Behaviors
(Light Experience)
Assists in reviewing documentation to ensure compliance with program and federal guidelines.
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Level 3 Behaviors
(Moderate Experience)
Administers testing programs to ensure compliance with all applicable laws and regulations.
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Level 4 Behaviors
(Extensive Experience)
Creates compliance monitoring dashboards to identify and resolve compliance issues on time.
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Level 5 Behaviors
(Mastery)
Creates overall monitoring strategies to mitigate compliance and operational risks.
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3 Compliance Specialist III - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Compliance Specialist III
Proficiency Level - 4
5 Competency for - Compliance Specialist III
Proficiency Level - 5

11 soft skills or competencies (core competencies) for Compliance Specialist III

1 Core Competencies – Knowledge Management
Proficiency Level -2
Skill definition-The process of identifying, using, sharing, and maintaining an organization's intellectual assets, best practices, product innovations, etc. to improve organizational performance.
Level 1 Behaviors
(General Familiarity)
Describes the concepts, activities, and processes of knowledge management.
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Level 2 Behaviors
(Light Experience)
Assists in maintaining the knowledge management system by documenting solutions to problems.
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Level 3 Behaviors
(Moderate Experience)
Audits knowledge management activities to ensure continued compliance with organizational policies.
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Level 4 Behaviors
(Extensive Experience)
Advises both employees and managers on how to better apply the knowledge in daily work.
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Level 5 Behaviors
(Mastery)
Creates and updates policies, processes, and standards to guide organizational knowledge management practices.
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2 Core Competencies – Project Management
Proficiency Level -2
Skill definition-Applying specific knowledge, skills, tools, and techniques to manage a project from initial conception to successful completion.
Level 1 Behaviors
(General Familiarity)
Cites methods and techniques used for scheduling project deadlines.
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Level 2 Behaviors
(Light Experience)
Adheres to organizational policies to guarantee the project aligns with standards and expectations.
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Level 3 Behaviors
(Moderate Experience)
Analyses new project management tools and methodologies and reports recommendations to management.
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Level 4 Behaviors
(Extensive Experience)
Delegates tasks and responsibilities when unanticipated circumstances arise.
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Level 5 Behaviors
(Mastery)
Develops and oversees the execution of an adaptable standard operating procedure for projects.
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3 Compliance Specialist III - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Compliance Specialist III
Proficiency Level - 4
5 Competency for - Compliance Specialist III
Proficiency Level - 5

Summary of Compliance Specialist III skills and competencies

There are 0 hard skills for Compliance Specialist III.
2 general skills for Compliance Specialist III, Training and Development, Compliance Monitoring.
11 soft skills for Compliance Specialist III, Knowledge Management, Project Management, Attention to Detail, etc.
While the list totals 13 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Compliance Specialist III, he or she needs to be proficient in Knowledge Management, be proficient in Project Management, and be skilled in Attention to Detail.

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