Head of Legal and Compliance

Roles and responsibilities

Core Knowledge Areas

1. Corporate and Business Law:

   • Understanding laws governing contracts, corporate governance, mergers, and acquisitions.

2. Regulatory Compliance:

   • Familiarity with laws and regulations in your industry, such as:
     • Financial Services: Anti-Money Laundering (AML), Basel III.
     • Healthcare: HIPAA, FDA regulations.
     • Technology: GDPR, CCPA, cybersecurity regulations.

3. Ethics and Corporate Governance:

   • Establishing frameworks for ethical decision-making and transparency.

4. Risk Management:

   • Identifying, assessing, and mitigating legal and regulatory risks.

5. Contract Management:

   • Drafting, reviewing, and enforcing contracts to ensure compliance.

Key Skills

1. Legal Expertise

• Policy Development: Drafting and implementing internal policies to comply with legal standards.
• Legal Research: Staying updated on changing laws and regulations.
• Regulatory Filings: Preparing and submitting documents to regulatory authorities.

2. Compliance Knowledge

• Internal Auditing:
  • Conducting regular audits to ensure adherence to laws and internal policies.
• Investigations:
  • Leading or assisting in investigations related to fraud, misconduct, or non-compliance.
• Reporting and Documentation:
  • Keeping accurate records of compliance processes and incident reports.

3. Analytical and Risk Assessment Skills

• Identifying potential regulatory or legal risks.
• Developing mitigation strategies and contingency plans.

4. Communication and Training

• Stakeholder Engagement:
  • Explaining legal and compliance matters to non-experts, including senior management.
• Employee Training:
  • Educating employees about compliance policies, whistleblower systems, and ethics programs.

5. Problem-Solving and Decision-Making

• Handling complex compliance issues and recommending practical solutions.

Technical Proficiency

1. Compliance Management Software:
   • Tools like NAVEX, Compliance 360, or MetricStream.
2. Legal Research Tools:
   • Platforms like Westlaw, LexisNexis for case law and regulation updates.
3. Risk Management Tools:
   • Software for risk assessment and mitigation, such as Resolver or LogicManager.

Specialized Areas in Legal and Compliance

1. Data Privacy and Protection:

   • Ensuring compliance with GDPR, CCPA, and other privacy regulations.
   • Implementing data security measures and conducting privacy audits.

2. Anti-Corruption and Fraud Prevention:

   • Enforcing anti-bribery laws like the Foreign Corrupt Practices Act (FCPA) or the UK Bribery Act.

3. Environmental, Social, and Governance (ESG):

   • Aligning business practices with sustainability goals and ethical governance.

4. Whistleblower Policies:

   • Creating safe and confidential reporting mechanisms for misconduct.

5. Third-Party Risk Management:

   • Evaluating suppliers, vendors, and partners for compliance risks.

Desired candidate profile

Specialized Areas in Legal and Compliance

1. Data Privacy and Protection:

   • Ensuring compliance with GDPR, CCPA, and other privacy regulations.
   • Implementing data security measures and conducting privacy audits.

2. Anti-Corruption and Fraud Prevention:

   • Enforcing anti-bribery laws like the Foreign Corrupt Practices Act (FCPA) or the UK Bribery Act.

3. Environmental, Social, and Governance (ESG):

   • Aligning business practices with sustainability goals and ethical governance.

4. Whistleblower Policies:

   • Creating safe and confidential reporting mechanisms for misconduct.

5. Third-Party Risk Management:

   • Evaluating suppliers, vendors, and partners for compliance risks.

Certifications and Professional Development

1. Legal Certifications:

   • Bar admission in your jurisdiction.
   • Certifications in contract law or business law.

2. Compliance Certifications:

   • Certified Compliance & Ethics Professional (CCEP).
   • Certified Regulatory Compliance Manager (CRCM).
   • Certified Information Privacy Professional (CIPP).

3. Risk Management Certifications:

   • Financial Risk Manager (FRM).
   • Certified Risk and Compliance Management Professional (CRCMP).

Emerging Trends

1. RegTech (Regulatory Technology):
   • Leveraging technology for compliance automation and monitoring.
2. AI in Compliance:
   • Using AI for predictive analytics, fraud detection, and monitoring compliance risks.
3. Globalization of Compliance:
   • Managing compliance across multiple jurisdictions with varying regulations.
4. Focus on ESG:
   • Meeting rising demands for ethical and sustainable business practices.

Career Opportunities

1. Roles in Legal and Compliance:

   • Compliance Officer.
   • Legal Counsel.
   • Risk and Compliance Manager.
   • Chief Compliance Officer (CCO).

2. Industries:

   • Financial Services.
   • Pharmaceuticals and Healthcare.
   • Technology and Telecommunications.
   • Energy and Manufacturing.

Key Tools to Master

• Policy Management: NAVEX, LogicManager.
• Risk Assessment: Resolver, MetricStream.
• Contract Management: DocuSign, ContractWorks.
• Legal Research: Westlaw, LexisNexis.