As businesses work to meet an array of complex compliance requirements, from anti-money laundering laws to the Sarbanes-Oxley Act, the demand for compliance officers is rising. In the financial services industry, for example, many employers are continually on the lookout for highly experienced compliance professionals to help them keep current with global and domestic regulatory standards.

Compliance officers are responsible for ensuring their organization complies with government regulations — domestically as well as globally, if applicable — and avoids missteps that could result in hefty fines, legal ramifications and reputation damage. Compliance officers also need to make sure that employees are following internal compliance policies.

Along with assessing financial risks and creating a game plan to handle those potential issues, compliance officers provide regular reports on the effectiveness of a business’s compliance measures. They also advise business leadership on any actions or changes that should be implemented. In many organizations, senior management expects the compliance officer to collaborate as a partner, and demonstrate how compliance is a business priority and can help drive strategy.

Here’s an overview of some typical duties for compliance officers:

Developing, implementing and managing an organization’s compliance program
Coordinating with federal and state regulators
Planning, implementing and overseeing risk-related programs
Creating and coordinating proper reporting channels for compliance issues
Developing company compliance communications
Coordinating and scheduling required compliance training for employees