What does a Compliance Manager do?
Compliance Managers work in an office environment and are often part of an office’s Human Resources team or legal department. They host trainings to educate their colleagues about regulations that apply to their work and develop procedures, policies and best practices for operating within legal and ethical guidelines. Compliance Managers design methods for reporting and dealing with compliance breaches and ethical issues when they occur. They produce reports on any regulatory changes within their industry and advice the leadership team on how new laws might impact current operations or future business prospects.
Compliance Manager skills and qualifications
The person applying for the position of a Compliance Manager should have strong organizational, communication and conflict management skills. In addition to those qualifications, candidates should have the following:
- Proficiency in word processing, spreadsheet and presentation software
- Good grasp of industry processes and existing business regulations
- Excellent analytical skills
- Ability to solve problems when they arise
- Excellent interpersonal skills
Compliance Manager salary expectations
The average salary for a Compliance Manager, also referred to as a Compliance Officer, is $73,829 per year. This amount can vary depending on an applicant’s experience level, geographical location or education. Additional perks typically include a 401(k), health insurance and paid time off.
Compliance Manager education and training requirements
Compliance Managers typically require a minimum of a bachelor’s degree in business management, legal studies, business administration, project management or a similar field of study. Additional certifications in the field of compliance and administration are a bonus. Candidates with a master’s degree in any related field are usually given more consideration for this position.
Compliance Manager experience requirements
Candidates looking to secure employment as Compliance Managers should have at least 3 years of experience in a professional setting, particularly in the realm of compliance. In-depth knowledge of industry standards, rules and regulations is greatly preferred.
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