Roles and missions of the regulatory officer
Regulatory officers are regulatory information and knowledge managers who guide organizations in complying with applicable regulations. They are responsible for researching, analyzing and implementing regulations. Regulatory managers are responsible for ensuring that their organizations follow business practices and regulatory requirements.
Some of the key duties and responsibilities of regulatory managers include:
- Regulatory Management: Regulatory managers are responsible for identifying applicable regulations and laws and ensuring that their organizations are in compliance.
- Monitoring regulatory changes: Regulators are responsible for monitoring changes in the regulatory landscape and ensuring that their organizations are in compliance.
- Employee education and awareness: Regulators are required to educate and train employees as regulations and practices evolve.
- Implementation of compliance plans: Regulators work with their organizations to establish compliance plans and ensure that appropriate controls are in place to monitor compliance.
- Communicating with regulators: Regulators are responsible for communicating with regulators, responding to their requests and providing information for inspections.
- Regulatory and Policy Monitoring: Regulators are required to research existing and upcoming regulations and propose solutions for compliance.
- Audit and review: Regulators must conduct periodic audits and reviews of systems, processes and controls to ensure that their organizations are in compliance with regulations.
Salary and career development of a regulatory manager
The salary of a regulatory manager varies greatly depending on the years of experience and the sector in which he or she works. In France, here is the evolution of the annual gross salary for a regulatory manager according to his experience:
- 0 to 2 years: between 35.000 and 45.000 €.
- 2 to 5 years: between 45.000 and 55.000 €.
- 5 to 10 years: between 55.000 and 70.000 €.
- 10 to 15 years : between 70.000 and 85.000 €.
- More than 15 years: between 85.000 and 95.000 €.
A regulatory manager may also receive benefits in kind or an annual bonus for their work. The subsequent jobs available for this position are many and varied. Here are 5 possibilities in terms of career development for a regulatory manager:
- Risk Manager
- Financial Operations Manager
- Audit Manager
- Director of partnerships
- Senior management advisor.
