The following article discusses the career path of Compliance Officer. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Compliance Officers.
Compliance officers are responsible for the supervision of any issues that are related to compliance with regulations or laws. This includes ensuring that all licensing requirements are fully up to date. They often write reports on their findings to the governing body of the organization and they make recommendations in terms of necessary changes. Industries with heavy regulations, such as finances and health care, all require compliance officers as part of their staff.
Usually, compliance officers work for external contracting companies. Through this, they can get to work in a variety of different environments. Sometimes, they will work in an office and, other times, in the field
Other job duties of compliance officers are:
- To assess operational risks, and compliance with regulations
- Create risk management strategies
- Perform internal audits and reviews to ensure compliance is maintained
- To direct or conduct internal investigations in relation to compliance
- To monitor and oversee all activities in relation to a company’s compliance with federal, state, and company regulations
Where We Work
The U.S. Bureau of Labor Statistics does not yet categorize compliance officers in their Occupational Outlook Handbook. According to the U.S. News & World Report, however, these professionals can work in a variety of locations. In fact, they can be found anywhere where documents have to be reviewed and licenses or permits need to be held. They do often have to hold specialized certifications, applicable to the field in which they work.
How to Become
Typically, a bachelor’s degree is required as a minimum. However, compliance officers may also need additional certification, as they relate to the industry in which they work. This could be related to finances, health care, industry, environment, and so on. Generally, these certifications must be maintained through continuous education credits. As such, they must be committed to lifelong learning.
A bachelor’s degree in a field such as finance, business, or accounting is the most common degree held by compliance officers, although some positions do not require a degree at all. The exact requirements vary widely depending on the role and certification as well as retraining is commonly needed. Having the right traits and qualities, as described below, is generally of greater importance.
Traits & Qualities
The most effective compliance officers have the following traits to some degree or other:
- Leadership skills
- Excellent communication skills in terms of public speaking and report writing
- Ethical decision making skills
- Extensive training on instructional design
- True integrity
- The ability to work with confidential reports and information
The national average salary estimate for Compliance Officer was $69,393. This number is estimated from over 2,201,324 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $36.14 and monthly of $5,783.
- Most Reported
Salary by State
The following section lists Compliance Officer salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Massachusetts had the largest quoted salary of $90,694 while Idaho had the smallest quoted salary of $21,984.
Top 20 National Employers
According to Indeed.com, the following states had employers looking to hire a Compliance Officer. The quoted salary figure represents the average salary from all job postings by this employer.
|Employer Name||Location||Average Salary|
|Ramax Search Compliance Officer||New Jersey||$190,000|
|Huxley Associates Compliance Officer||DC||$163,801|
|MMS Group Compliance Officer||Nevada||$139,644|
|Compliance Search Compliance Officer||New Jersey||$138,357|
|Request Technology – Jacqueline White Compliance Officer||Texas||$137,477|
|Kforce Compliance Officer||Michigan||$137,343|
|Sysazzle Inc. Compliance Officer||DC||$134,963|
|Ascendo Resources Compliance Officer||North Carolina||$133,868|
|Enliven Archive Compliance Officer||Virginia||$130,000|
|Request Technology – Sasha Michaels Compliance Officer||Virginia||$129,617|
|Lyneer Staffing Solutions Compliance Officer||New Jersey||$129,021|
|Bristol-Myers Squibb Compliance Officer||New Jersey||$124,762|
|TriMet Compliance Officer||Oregon||$124,434|
|Request Technology Compliance Officer||Virginia||$123,480|
|Robert Walters US Compliance Officer||New York||$120,784|
|NORTH STAR Compliance Officer||Pennsylvania||$120,000|
|Atlantic Group-Fortune 100 Company Compliance Officer||Pennsylvania||$120,000|
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|Career Name||Average Salary|
|Marketing Communications Manager||$70,119|
|Human Resources Manager||$69,342|