Typically working in the financial sector, due diligence analysts are also known as compliance analysts, compliance officers and compliance managers. They support an organization’s efforts to stay within legal and ethical boundaries while engaging in business activities. Enrolling in a bachelor’s degree program in criminal justice can augment a business or financial knowledge base and give aspiring professionals an edge when competing for the best due diligence analyst jobs.
The U.S. Bureau of Labor Statistics (BLS) predicts much faster than average employment growth for compliance officers, including due diligence analysts, in coming years. Regulatory changes and an expanding economy should fuel job growth and demand for due diligence analysts.
Due Diligence Analyst Job Duties
Due diligence analysts oversee the operations of a business or organization as they relate to regulatory and legal compliance. These professionals may work with senior management to establish procedures and policies, and analyze and monitor activities to ensure compliance at every level. In addition, due diligence analysts often create and implement staff training programs.
Another important aspect of a due diligence analyst’s job is to help an organization minimize risk by reviewing its advertising, product or service communications, personnel policies, notices and disclosures for compliance. Analysts must stay on top of new laws and industry regulations, and advise management on any changes that may be necessary to comply with new requirements.
Due diligence analysts are usually expected to maintain detailed records of compliance activities. They must also keep computer databases and written documentation updated to reflect current processes and new changes.
A deep understanding of legal issues, ethics and federal, state and local regulatory activities is essential for due diligence analysts to perform their jobs. They often work closely with legal, marketing and operations staff regarding applicable industry regulations and laws.
Due diligence analysts usually work in an office environment. A 40-hour week is normal, but overtime may be necessary. Some employers may require travel.
National salary data on Indeed.com indicated that due diligence analysts earned an average salary of $78,000 as of October 2010. Recent bachelor's degree graduates will typically start out in entry-level positions at a correspondingly lower rate of pay and move up in salary and responsibility as they gain work experience.
Education and Training
Becoming a due diligence analyst generally requires a bachelor’s degree in finance, business, accounting or a related field, plus work experience. Some employers may favor candidates with a master's degree.
A bachelor's degree in criminal justice can also be extremely beneficial to individuals interested in pursuing a career as a due diligence analyst, as this role requires a comprehensive understanding of the legal system and the potential penalties for non-compliance. Students pursuing a criminal justice degree will typically complete courses such as introduction to law and the legal system, substantive criminal law, research methods in criminal justice, law enforcement systems and criminal justice ethics.
Employers can be confident that graduates of a criminal justice program are able to:
- Understand the legal ramifications of corporate non-compliance.
- Apply legal concepts to real-world business challenges.
- Use tested methods, techniques and technologies to perform a crime analysis.
- Analyze trends and statistics relating to criminal activities.
- Leverage advanced skills and knowledge to succeed in a due diligence analyst position.
Many employers offer opportunities for continuing education. It’s possible to gain an entry-level position with a bachelor's degree and use tuition assistance to further your education.
Considering a Career as a Due Diligence Analyst?
If you have strong analytical, decision-making, communication and computer skills, then a career as a due diligence analyst could be a great fit for you. This challenging occupation also requires some knowledge of finance, accounting and legal processes. By combining business or finance expertise with a bachelor’s degree in criminal justice, you can position yourself as an outstanding candidate for the best due diligence analyst career opportunities.
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