--- title: What does the Compliance Officer role actually require? description: Oversees AML/CTF policies, is the main contact with AUSTRAC, manages day-to-day compliance. --- [Skip to content](https://knowledge.easyaml.com/compliance-officer-role-requirements#main-content) English - Australia Show submenu for translations Open main navigation Close main navigation - English - Australia Show submenu for translations How can we help you? - There are no suggestions because the search field is empty. 1. [easyAML Help Centre](https://knowledge.easyaml.com/?hsLang=en-au) 2. [FAQs](https://knowledge.easyaml.com/faqs?hsLang=en-au) 3. [General](https://knowledge.easyaml.com/faqs?hsLang=en-au#general) # What does the Compliance Officer role actually require? ## Oversees AML/CTF policies, is the main contact with AUSTRAC, manages day-to-day compliance. The Compliance Officer (CO) is the **person designated to oversee the firm's AML/CTF compliance** under AUSTRAC's framework. The role carries specific obligations: **Core responsibilities:** - **Oversees AML/CTF policies** - ensures the AML/CTF Program is in place, current, and aligned with the firm's actual designated services. - **Main contact with AUSTRAC** - receives regulatory communications, manages enrolment, lodges Annual Compliance Reports. - **Oversees day-to-day compliance** - ensures the firm's CDD, screening, monitoring and reporting activities are happening as required. - **Ensures the business identifies and manages ML/TF risks** - the strategic compliance posture, not just operational. **Personal qualifications:** - **Sufficient authority** - enough seniority to escalate compliance issues and make compliance decisions binding on the firm. - **Independence** - ability to exercise judgement without commercial pressure overriding compliance concerns. - **Adequate resources** - enough time, training and operational support to perform the role. - **Management-level position** - typically a director, partner, senior manager or equivalent. - **Fit and proper** - no relevant disqualifying history (criminal record relating to financial crime, regulatory ban, etc.). - **Australian resident** where the firm's services are provided locally - AUSTRAC's framework expects the CO to be present in the jurisdiction. **Reporting obligations:** - **Reports to the governing body at least annually** - a formal compliance report to the board, partnership or owner covering the year's compliance activity, issues identified, and remediation. - **Lodges Annual Compliance Reports to AUSTRAC** - platform-generated, signed off by the CO. - **Escalates suspicious matters** to AUSTRAC via Suspicious Matter Reports (SMRs). **Practical scope:** The CO **doesn't perform every task personally** - they oversee the firm's compliance, not do every CDD check themselves. Frontline Staff and CDD Users handle operational work; the CO is the accountable person ensuring it's done properly. **Sole trader case:** A sole conveyancer or sole accountant appoints themselves as CO - the obligations don't reduce, but the day-to-day scale is smaller and the platform automation handles most of the heavy lifting. **Detailed responsibilities are listed in the easyAML platform** under the CO's role documentation - comprehensive checklist with platform-specific guidance for each obligation. See AUSTRAC's [AML/CTF Program reform](https://www.austrac.gov.au/amlctf-reform/reforms-guidance/amlctf-program-reform) for the framework's CO expectations. ### Related articles - [easyAML (Platform) Set-up Checklist](https://knowledge.easyaml.com/set-up-checklist?hsLang=en-au) - [How do I Complete my AML/CTF Training?](https://knowledge.easyaml.com/how-do-i-complete-my-aml/ctf-training?hsLang=en-au) - [What happens if I don't meet AUSTRAC's fit-and-proper requirements? Does my business have to shut down?](https://knowledge.easyaml.com/failing-fit-and-proper?hsLang=en-au) - [What happens when the CO goes on extended leave?](https://knowledge.easyaml.com/what-happens-when-the-co-goes-on-extended-leave?hsLang=en-au) - [Glossary: Key Terms & Definitions](https://knowledge.easyaml.com/easy-aml-glossary?hsLang=en-au) - [easyAML Set-up Checklist](https://knowledge.easyaml.com/easyaml-set-up-checklist?hsLang=en-au) - [Training Videos](https://knowledge.easyaml.com/training-videos?hsLang=en-au#main-content) - [Register for Upcoming Webinars](https://knowledge.easyaml.com/training-videos?hsLang=en-au#register-for-upcoming-webinars) - [Previously Recorded Webinars](https://knowledge.easyaml.com/training-videos?hsLang=en-au#previously-recorded-webinars) - [FAQs](https://knowledge.easyaml.com/faqs?hsLang=en-au#main-content) - [General](https://knowledge.easyaml.com/faqs?hsLang=en-au#general) - [AML/CTF basics](https://knowledge.easyaml.com/faqs?hsLang=en-au#aml-ctf-basics) - [Getting started](https://knowledge.easyaml.com/faqs?hsLang=en-au#getting-started) - [Compliance Program](https://knowledge.easyaml.com/faqs?hsLang=en-au#compliance-program) - [Customer Due Diligence (CDD)](https://knowledge.easyaml.com/faqs?hsLang=en-au#customer-due-diligence-cdd) - [Training](https://knowledge.easyaml.com/faqs?hsLang=en-au#training) - [Reporting](https://knowledge.easyaml.com/faqs?hsLang=en-au#reporting) - [Sector Coverage](https://knowledge.easyaml.com/faqs?hsLang=en-au#sector-coverage) - [Pricing & Plans](https://knowledge.easyaml.com/faqs?hsLang=en-au#pricing-plans) - [Sales & Onboarding](https://knowledge.easyaml.com/faqs?hsLang=en-au#sales-onboarding) - [Trusts & Complex Structures](https://knowledge.easyaml.com/faqs?hsLang=en-au#trusts-complex-structures) - [Reliance & KYC Sharing](https://knowledge.easyaml.com/faqs?hsLang=en-au#reliance-kyc-sharing) - [ACMA SMS Sender ID Register](https://knowledge.easyaml.com/faqs?hsLang=en-au#acma-sms-sender-id-register) - [Quick Answers](https://knowledge.easyaml.com/faqs?hsLang=en-au#quick-answers) - [How-to Guides](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#main-content) - [Tasks](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#tasks) - [Transactions](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#transactions) - [Entities](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#entities) - [Insights](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#insights) - [Training](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#training) - [Compliance](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#compliance) - [Reports](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#reports) - [Account Settings](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#account-settings) - [Billing & Plans](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#billing-plans) - [KYC Information](https://knowledge.easyaml.com/kyc-information?hsLang=en-au#main-content) - [Client Resources](https://knowledge.easyaml.com/kyc-information?hsLang=en-au#client-resources) - [Person being verified](https://knowledge.easyaml.com/kyc-information?hsLang=en-au#person-being-verified) - [Glossary](https://knowledge.easyaml.com/glossary?hsLang=en-au) - [Integrations](https://knowledge.easyaml.com/integrations?hsLang=en-au#main-content) - [General](https://knowledge.easyaml.com/integrations?hsLang=en-au#general) - [Action Step](https://knowledge.easyaml.com/integrations?hsLang=en-au#action-step) - [Clio](https://knowledge.easyaml.com/integrations?hsLang=en-au#clio) - [XPM](https://knowledge.easyaml.com/integrations?hsLang=en-au#xpm) - [Scantek](https://knowledge.easyaml.com/integrations?hsLang=en-au#scantek) - [News Feed](https://knowledge.easyaml.com/news-feed?hsLang=en-au#main-content) - [Latest Release Notes](https://knowledge.easyaml.com/news-feed?hsLang=en-au#latest-release-notes) - [Support](https://knowledge.easyaml.com/support?hsLang=en-au) [![easyAML-Logo\_Magenta](https://knowledge.easyaml.com/hs-fs/hubfs/easyAML-Logo_Magenta.png?width=200&height=47&name=easyAML-Logo_Magenta.png "easyAML-Logo_Magenta")](https://easyaml.com/) Copyright © 2026, easyAML