How much money does a compliance officer make

Find jobs Company reviews Find salaries. Upload your resume. Sign in. Compliance officer Explore career information doees location. Search Location. How much does a Compliance Officer make in the United States? Most common benefits Pet insurance Volunteer time off Stock purchase plan On-site gym Wellness program View more benefits. Where can a Compliance Officer earn more? Compare salaries for Compliance Officers in different locations. Explore Compliance Officer openings Compare. Top companies for Compliance Officers in United States.

Education Requirements

Find jobs Company reviews Find salaries. Upload your resume. Sign in. Compliance officer Explore career information by location. Search Location. Most common benefits Pet insurance Volunteer time off Stock purchase plan On-site gym Wellness program View more benefits. Where can a Compliance Officer earn more? Compare salaries for Compliance Officers in different locations. Explore Compliance Officer openings Compare. Best-paid skills and qualifications for Compliance Officers. Top certifications Certified Internal Auditor. Top skills Tableau. Top fields of study Law Degree.

Learn About the Salary, Required Skills, & More

Salaries by qualifications.

Are you an HR manager or compensation specialist?

The U. In terms of importance and financial impact, chief compliance officers rank among chief financial officers CFOs and chief executive officers CEOs on some executive staffs, since a proper compliance environment keeps Uncle Sam at bay and represents a noticeable advantage over less-prepared competitors. This is increasingly true in finance. According to the BLS , in , the top-paying industries for compliance jobs included government, credit, and management. The compliance officer or manager positions are available in a myriad of industries, but job duties and responsibilities of individuals who hold a compliance officer position are similar. The primary duty of any compliance officer is to ensure a company is being run legally and ethically, complying with all applicable industry regulations. This job duty begins with an in-depth analysis of current regulations and ethical standards in a particular industry.

Understand the total compensation opportunity for a Chief Compliance Officer, base salary plus other pay elements

Salary ranges can vary widely depending on many important factors, including education , certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary. Individualize employee pay based on unique job requirements and personal qualifications. Get the latest market price for benchmark jobs and jobs in your industry. Analyze the market and your qualifications to negotiate your salary with confidence. Search thousands of open positions to find your next opportunity. Monitors compliance with federal, state, and local regulatory requirements. Being a Corporate Compliance Officer — Healthcare stays abreast of laws and regulations that might affect the organization’s policies and procedures. Prepares compliance reports to present to senior management. Additionally, Corporate Compliance Officer — Healthcare requires a bachelor’s degree in a related area. To be a Corporate Compliance Officer — Healthcare typically requires 4 to 7 years of related experience.

Choose a country to display salary information.

This is better than the 7 percent growth projected for all occupations. They also help train employees on requirements that must be met and assist with regulatory processes. Training Requirements. Focusing on prevention, police officers are dedicated to protecting others and minimizing situations that are potentially deadly. An aspiring compliance professional should identify those industries for which he has a passion or knack, and he should understand the practical and regulatory obstacles for those industries. These documents will need to be understood thoroughly. Experience will set you apart in the job field. Police officers keep communities safe. Continue Reading. Investment Banker: What’s the Difference? Additionally, employees might sometimes view compliance officers negatively, as someone looking over their shoulders, policing their work. For them, it projects job growth of about 10 percent for the decade ending in About the Author Dr.

Open Compliance Officer Jobs

Even states with relatively low public benefits, such as Colorado and Minnesota, significantly outpace average benefits packages with the best private employers. Compliance officers must understand how to interpret these regulations and how they fit into the business operations of their companies. These different jobs ensure that companies obey regulations, comply hoq laws, follow policies and contractual obligations, meet eligibility requirements for licenses and permits, and. A position as a compliance officer or manager is not typically deemed as entry-level complianec. Career Advice. Compliance officers also share information regarding compliant behavior and ethical procedures with management, employees and C-suite executives. This job duty begins with an in-depth analysis of current regulations and ethical comoliance in a particular industry. Making sure that the firm complies with state securities laws.

Average Base Salary

The U. In terms of importance and financial impact, chief compliance officers rank among chief financial officers CFOs ofifcer chief executive officers CEOs on some executive staffs, since a proper compliance environment keeps Uncle Sam at bay and represents a noticeable advantage over less-prepared competitors.

This is increasingly true in finance. According to the BLSinthe top-paying industries for compliance jobs included government, credit, and management. The compliance officer or manager muchh are available in a myriad of industries, but job duties and responsibilities of individuals who hold a compliance officer position are similar. The primary duty of any compliance officer is to ensure a company is being run legally and ethically, complying with all applicable industry regulations.

This job duty begins with an in-depth analysis of current regulations and ethical standards in a particular industry. Compliance officers must understand how to interpret these regulations and how they fit into the business operations of their companies.

In addition to understanding legal regulations, compliance officers must also have a sound knowledge of ethical practices and standards in their industries. Although there are norms that constitute theoretical ethical behavior in most sectors, in practice, ethics are often left up to the interpretation of a compliance officer or manager. The need for ethics interpretation makes it crucial for compliance officers to understand the underlying values of a company so that they can establish and implement standard procedures.

An ongoing review of a company’s ethical standards is a necessary part of any compliance officer’s job. Compliance officers also share hod regarding compliant behavior and ethical procedures with management, employees and C-suite executives. In industries where regulatory burdens are high, compliance officers spend a substantial portion of their time developing, improving and distributing compliance programs to company employees. For example, compliance officers in the financial services industry focus their attention on anti-money laundering initiatives, including ongoing training and education programs that detail how employees can remain compliant with overarching regulation.

Similarly, a compliance officer who is working at a health care facility may devote a substantial amount of time to creating and disseminating training programs that focus on disclosure and privacy laws for protecting the facility’s patients.

Individuals who hold compliance officer positions are also responsible for reviewing the current and prospective risk a business enterprise faces. The information regarding business- or industry-specific risks is passed along to high-level executives to establish internal controls to minimize exposure. A compliance officer must continually review the risks that face the organization monfy with the procedures that are in place to reduce that risk so that the company is well-positioned to manage it effectively.

Generally speaking, all compliance workers need analytical, investigative and decision-making skills. For obvious reasons, it’s best if the officer has some experience working in whichever industry he intends to serve in a compliance capacity.

No two compliance officers face the same challenges, and the nature of the job is such that every officer becomes a perpetual student: Regulatory changes take place consistently. Degrees in engineering, law, and chemistry — along with economics, finance, mzke management — are great assets on a compliance resume.

Those in the financial sector might need to carry securities licenses more on that, below ; professional certifications in a relevant field are also good choices.

A lower-income earner in a compliance officer position is more likely to have minimal past work experience or hold a degree not directly clmpliance to the industry in which he works.

A worker with a higher income often has officeg tenure in his position or has earned advanced degrees in business, accounting, law or finance. Of course, those who work at a large institution are more likely to have access to fringe benefits that increase the total compensation package, with chief compliance officers possessing those on a par with other C-Suite executives. There are compliance jobs in almost every field, which can make it a difficult career path to prepare.

For example, a compliance officer working at S or Wells Fargo has very compliacne responsibilities and educational requirements than a compliance officer working for Dow Chemical or Exxon Mobil. An aspiring compliance professional should identify those industries for which he has a passion or knack, and he should understand the practical and regulatory obstacles for those industries.

Certain industries, such as food, chemicals, health care, and finance, are lending themselves to compliance department growth. However, a majority of new jobs for compliance staff come from the public sector, not private business. Compliance careers are not just in finance. Jobs might also be in healthcare and telecommunications. According to the BLS, the top three employers of compliance officers are the federal government, state governments, and local governments.

In fact, local governments those with OES designations employ more compliance officers 28, as of than private companies and insurance carriers 25,albeit at lower pay. Even though state and local public sector compliance jobs generally come with lower starting salaries than their private sector counterparts, benefits, and job security are far better.

Even states with relatively low public benefits, such as Colorado and Minnesota, significantly outpace average benefits packages with the best private employers. It’s also difficult to get fired from a kake sector job, essentially adding a form of unemployment insurance. Before drilling down into how to become a financial firm’s compliance officer or a member of a jow teamit is important first to understand what that job entails.

To be clear, the duties of moey personnel vary by firm and job description; however, the following are tasks that are typically accomplished by compliance departments:. As mentioned above, the financial industry is a ripe field for those interested in a compliance-related career. A position as a compliance officer or manager is not typically deemed as entry-level employment.

Bachelor’s degrees are usually a minimum requirement, and some employers may look for advanced degrees, like a law degree or a master’s degree in business administration MBAespecially to qualify for a higher-level position.

The CCEP requires participation in an intensive prerequisite course along with the successful passing of an exam. In the s, a four-year bachelor’s degree was less frequently required to get work in a compliance department.

A good number of people back then merely had high school diplomas, and even if they did graduate from college, it often wasn’t with a finance degree. At that time, the idea was that employees would learn on the job. All of that has changed. A degree in finance, management, accounting, economics or law is a must if you would like to get hired at any one of the bulge bracket firms. Additionally, although it’s not mandatory, a master’s degree in finance, accounting or economics can help to set an individual apart from the countless other candidates that have bachelor’s degrees.

Finally, those with a law degree often have a leg up on the competition as they already have a feel for the way the law works, which often makes them top candidates for many brokerage houses. Through the National Regulatory Services Office NRSindividuals seeking advancement in careers as comp,iance officers within the financial services and investment industry can complete the Investment Adviser Certified Compliance Professional credential.

This advanced certification program provides participants with up-to-date regulatory content that is relevant to financial experts working in compliance departments. A firm may require its compliance personnel to become licensed. It is common for firms to require their compliance personnel to sit for the Series 7 and Series 63 exams. The curriculum for these licensing exams allows compliance officers to obtain a good foundation and understanding of the securities industry.

Other licenses that a firm may sponsor a compliance individual for include the Series 14, Series 26, Series 27 and Series 39 exams. These exams require an understanding of net capital rules, Municipal Securities Rulemaking Board MSRB rules, rules for maintaining customer accounts, sales and other supervisory roles and record-keeping.

Compliance teams will occasionally hire those who have worked in other fields or aspects of the industry, such as brokerage sales and trading. However, a large number of those who work their way up the compliance ranks seem to have extensive back office experience in trade settlement or operations.

Beyond that, many companies will also look to see whether the candidate has had prior experience at a firm of similar size and stature. This experience ensures that the individual will be able to handle the type of duties and often frantic pace characteristic of the compliance department. The nature of the work of odficer compliance mkch at a large firm or warehouse is often much more involved than those of a compliance officer at a smaller, regional firm.

Even if an individual meets all of the above requirements and looks good on paper, there are specific complaince sets that he or she must also have to be successful in the field of compliance.

For example:. All individuals in compliance should be beyond reproach. That is, to do this job correctly they must maintain a high level of integrity and serve as an example for other employees of the company. Career Advice. Your Money. Personal Finance. Your Practice. Popular Courses. Careers Career Advice. Table of Contents Expand. The Hottest Job in America. Compliancw Description. Compliance and Ethical Procedures.

Compliance and Risk Management. Skills and Qualifications. Salary Ranges. Career Paths. Public Sector Compliance Careers. What is Financial Compliance? Financial Industry Careers. Training Requirements. Educational Requirements. What About Securities Licenses? Work Experience. Skill Set. The Bottom Line. Key Takeaways Compliance officer is one of the hottest jobs in America. Compliance jobs are often in financial services, healthcare, and telecommunications.

Compliance officers often need knowledge of ethical practices in their industries. Degrees in engineering, law, and chemistry, as well as economics, finance, and management, are often part of an education in compliance. Ensuring that the company adheres to minimum net capital rules. Making sure that employees are following internal compliance guidelines. Fielding and addressing customer complaints. Maintaining a dialogue with regulatory bodies.

Sunita Mansigani, Compliance Officer for Danske Bank gives an insight into working in compliance.

Salary ranges can vary widely depending on many important factors, including educationcertifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary. View the Cost of How much money does a compliance officer make in Major Cities.

Find a Job

Responsible for an organization’s compliance with financial policy and reporting regulations. Plans and directs programs, policies, and practices to ensure that all business units’ activities are in compliance with regulatory requirements. Tracks laws and regulations that might affect the organization’s policies and implements necessary changes. Requires a bachelor’s degree in area of specialty. Demonstrates expertise in a variety of the field’s concepts, practices, and procedures. Typically reports to top management. Manages a departmental function within a broader corporate function. Develops major goals to support broad functional objectives. Approves policies developed within various sub-functions and departments. Comprehensive knowledge of the overall departmental function. Copyright Salary. Take just three simple steps below to generate your own personalized salary report. Bachelor’s Degree.