How to become a Compliance Officer
Here are some steps to take when becoming a compliance officer:
- You should possess a bachelor's degree as a minimum requirement
- Have an advanced degree, such as a master's degree in business administration
- Become a Certified Professional Compliance Officer
- You should research on the applicable rules and regulations to gain in-depth knowledge
- You should go through a compliance officer internship program
- Get a minimum of five years' experience
- Have high ethical standards, be honest and possess adequate social skills
How to become: Risk Manager · Risk Analyst · Compliance Auditor · Director of Compliance · Associate
These qualifications are required: Driver's License · PMP · CPA
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What skills help Compliance Officers find jobs?
- Accounting
- Analysis skills
- Banking
- Communication skills
- Compliance management
- Computer skills
- Customer service
- English
- FDA regulations
- Financial services
- Information security
- LIHTC
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Career progression for Compliance Officer
Education levels for Compliance Officers
| required level of education | percent of job openings |
|---|---|
| Bachelor's degree | 4.0% |
| High school diploma or GED | 3.0% |
| Master's degree | 2.0% |
| Associate's degree | 1.0% |
| Doctoral degree | 0.0% |
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Expected salary by experience
| Years of experience | Annual salary in USD |
|---|---|
| 0 - 4 | $48,200 |
| 4 - 8 | $53,900 |
| 8 - 12 | $60,100 |
| 12 - 16 | $64,400 |
| 16 - 20 | $67,400 |
| 20 - 24 | $71,000 |
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Common qualifications for Compliance Officers
Certified Internal Auditor
CRISC
Certified Information Systems Auditor
CISSP
PMP
Series 7
Certified Anti-Money Laundering Specialist
FINRA License
Enrolled Agent
CPA
Driver's License
Certified Compliance & Ethics Professional
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Common questions about career advices for a Compliance Officer
Apart from professional qualifications, how does one become a great compliance officer?
The individual must have an in-depth understanding of the mission and values of the company they are in. Moreover, they need to come up with an adequate training program that communicates everything related to regulatory compliance. This ensures that employees become aware of what they are supposed to do and how to achieve what is expected of them.
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Which compliance certification is the best?
The best compliance certification is determined by the industry the officer wants to focus on. However, several certifications are highly demanded. These certifications include:
- Certified Anti-Money Laundering Specialist Credential
- Certification in Healthcare Compliance
- Certified Regulatory Compliance Manager
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