High School
Compliance professionals need strong communication skills, so it’s a good idea to take classes in English and speech, as well as to join the debate club. They also need strong financial and business acumen (taking economics, business, and accounting classes will be useful to develop these talents), skill at using computers and knowledge of information technology (computer science, database design and management, computer security, advanced artificial intelligence) and critical-thinking skills (social studies, history, philosophy).
Postsecondary Education
Compliance professionals need a minimum of a bachelor’s degree in business, finance, accounting, or pre-law. For upper-level positions, some companies prefer to hire applicants with graduate degrees in the aforementioned areas, or those who have law degrees. A few colleges, such as Loyola University Chicago and the University of South Florida (USF), offer master’s degree concentrations in compliance studies or related areas. Classes in USF’s Compliance, Risk & Anti-Money Laundering concentration include Risk Management and Legal Compliance; Forensic Accounting and Legal Issues; Accounting Systems Audit, Control, and Security; Database Management; and Decision Process for Business Continuity and Disaster Recovery. Law schools—such as the Seton Hall Law School—are beginning to offer concentrations in compliance. The Regulatory Compliance Association’s College of Regulatory Compliance provides a law and master’s concentration in asset management practice, compliance, and regulation. The International Compliance Association offers postgraduate diplomas in governance, risk, and compliance; financial crime compliance; and other areas.
Certification
A few colleges offer undergraduate and graduate certificates in compliance. Typical classes in these programs focus on risk management, leadership, ethics, and accounting systems. Contact the following colleges for more information about their programs:
- Saint Louis University: https://www.slu.edu/business/centers/emerson-leadership-institute/certificate-programs/corporate-ethics-compliance-management.php
- University of South Florida: https://www.usf.edu/graduate-studies
- San Francisco State University: https://cob.sfsu.edu/programs
The International Compliance Association (https://www.int-comp.org/learn-and-develop/quick-course-finder/page/1) offers certificates that focus on financial crime prevention, due diligence, legal compliance, business compliance, anti-money laundering, risk management, and other areas.
Other Education or Training
A variety of webinars, conference seminars, and other continuing education opportunities are offered by professional associations such as the Society of Corporate Compliance and Ethics, International Compliance Association, Regulatory Compliance Association, and American Bar Association. Topics include compliance standards, policies, and procedures; communications, education, and training; ethics; and risk assessment. Contact these organizations for more information.