Compliance Officers are responsible for ensuring that companies and organizations comply with internal policies and external regulations. Their job description typically includes developing and implementing compliance programs, conducting audits and risk assessments, providing training to employees, investigating compliance issues, and recommending corrective actions to ensure adherence to laws and regulations. They also monitor changes in regulations and industry standards to update policies accordingly.
This income data is sourced from the May 2023 Occupational Employment and Wage Statistics (OEWS) survey. The dataset is updated annually.
Annual Pay Distribution | Salary |
|---|---|
10th percentile | $42,330.00 |
25th percentile | $56,370.00 |
median (50th percentile) | $70,010.00 |
75th percentile | $100,760.00 |
90th percentile | $126,440.00 |
Hourly Pay Distribution | Hourly Rate |
|---|---|
10th percentile | $20.35 |
25th percentile | $27.10 |
median (50th percentile) | $33.66 |
75th percentile | $48.44 |
90th percentile | $60.79 |
Compliance officers typically need a bachelor’s degree in finance, accounting, business administration, law, or a related field. Some employers may prefer candidates with a master’s degree or certification in compliance or a relevant field. While a high school diploma is necessary for entry-level positions, completing college education (bachelor's or higher) is essential for advancing in the field of compliance and accessing more senior roles that involve complex regulatory requirements and responsibilities. Training for compliance officers often includes on-the-job experience, workshops, seminars, and continuing education courses to stay updated on regulatory changes, industry best practices, and emerging trends. Some organizations also provide specialized training programs tailored to their specific compliance needs and expectations, ensuring that compliance officers have the knowledge and skills required to perform their duties effectively and efficiently.