What does a trade compliance officer do?
Every company involved in international trade (export and import) must be able to ensure that their business/trading process is in accordance with applicable trade rules and regulations. Companies must comply with laws such as customs, export & import regulations, and others so that transactions and trade processes can run well.
A trade compliance officer exists for that exact purpose. A trade compliance officer oversees their company’s compliance and makes sure their company complies with all domestic and international laws or regulations relating to trade.
In general, the following are the main responsibilities of a trade compliance officer:
Reviewing documents related to trade and shipping
Submitting paperwork for sales agreements and trade licenses
Assist with weekly and monthly compliance reporting
Stay updated on changes in regulations, legislation, and laws related to global trade that may affect companies
Assisting relevant departments in companies to help them adjust their practices based on changes in trade laws and regulations
Developing processes and procedures required to standardize trade procedures across the business unit
Creating export documentation in accordance with internal business processes, domestic and international trade law
Helping companies expedite trade affairs (export/import) is the main task of the trade compliance officer. And facilitating compliance of trade activities (import/export) is the most important responsibility of compliance officers. It’s important to understand that a trade compliance officer has a crucial role in ensuring the company’s trade processes can run smoothly.
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Requirements to be a trade compliance officer
Companies need a skilled trade compliance officer to ensure their trade processes comply with all relevant international & trade laws. But what does it take to become a trade compliance officer?
The following are the general requirements to become a trade compliance officer:
Bachelor’s or Master’s degree in foreign trade or a related field
Have sufficient knowledge of international laws, custom issues & trade policies
Experience in customs policy, freight forwarding, export/import, and logistics
Update with government regulatory changes and the general operations of companies
Strong analytical and problem-solving skills
Experience in compliance risk analysis and valuation
Familiar with word-processing software such as Microsoft Office
How to start a career in trade compliance?
The demand for talented trade compliance officers is increasing over the next few decades, especially since the volume of international trade continues to grow consistently. Because, after all, trade compliance officers have an important role in ensuring the productivity of a company’s business processes, especially business processes that involve cross-border business.
Sufficient knowledge and experience regarding customs and trade laws are not enough. Trade compliance officers need to have good problem-solving skills. Because their jobs are not only to identify risks or issues that are relevant to global trade, but trade compliance officers must also develop strategies & solutions to respond to these risks and issues to avoid problems for companies in the business process.
Are you a problem-solver and want to start a career in trade compliance to help companies smooth their global trade affairs? Get the latest jobs in trade compliance here.