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Compliance Manager

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What Does it Take to Be a Compliance Manager?

Example of Compliance Manager Job Plan, direct, or coordinate activities of an organization to ensure compliance with ethical or regulatory standards.

Compliance Manager Responsibilities

  • Conduct or direct the internal investigation of compliance issues.
  • Verify that software technology is in place to adequately provide oversight and monitoring in all required areas.
  • Identify compliance issues that require follow-up or investigation.
  • Provide assistance to internal or external auditors in compliance reviews.
  • Assess product, compliance, or operational risks and develop risk management strategies.
  • File appropriate compliance reports with regulatory agencies.

Compliance Manager Skills

Compliance Managers state the following job skills are important in their day-to-day work.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Writing: Communicating effectively in writing as appropriate for the needs of the audience.

Speaking: Talking to others to convey information effectively.

Active Learning: Understanding the implications of new information for both current and future problem-solving and decision-making.

Types of Compliance Manager Jobs

  • Legal Compliance Officer
  • Credit Compliance Officer
  • Corporate Ethics Officer
  • BSA Officer
  • Compliance Director

Is There Job Demand for Compliance Managers?

In 2016, there was an estimated number of 992,100 jobs in the United States for Compliance Manager. New jobs are being produced at a rate of 8% which is above the national average. The Bureau of Labor Statistics predicts 79,600 new jobs for Compliance Manager by 2026. Due to new job openings and attrition, there will be an average of 79,200 job openings in this field each year.

Forecasted Number of Jobs for Compliance Managers in U.S.

The states with the most job growth for Compliance Manager are Utah, Washington, and Nevada. Watch out if you plan on working in Vermont, Maine, or Maryland. These states have the worst job growth for this type of profession.

Do Compliance Managers Make A Lot Of Money?

The salary for Compliance Managers ranges between about $52,550 and $183,430 a year.

Salary Ranges for Compliance Managers

Compliance Managers who work in District of Columbia, Virginia, or California, make the highest salaries.

How much do Compliance Managers make in different U.S. states?

State Annual Mean Salary
Alabama $106,680
Alaska $118,650
Arizona $101,630
Arkansas $86,410
California $143,350
Colorado $138,490
Connecticut $129,730
Delaware $134,410
District of Columbia $147,460
Florida $99,240
Georgia $118,060
Hawaii $93,760
Idaho $85,070
Illinois $90,080
Indiana $71,560
Iowa $101,360
Kansas $102,560
Kentucky $92,630
Louisiana $87,080
Maine $96,570
Maryland $122,050
Massachusetts $131,450
Michigan $98,780
Minnesota $128,590
Mississippi $82,230
Missouri $97,820
Montana $76,990
Nebraska $101,380
Nevada $102,060
New Hampshire $123,580
New Jersey $138,820
New Mexico $96,490
New York $124,160
North Carolina $121,500
North Dakota $109,820
Ohio $107,320
Oklahoma $102,710
Oregon $94,400
Pennsylvania $126,290
Rhode Island $114,660
South Carolina $100,890
South Dakota $99,030
Tennessee $83,010
Texas $122,130
Utah $102,290
Vermont $105,950
Virginia $134,500
Washington $125,490
West Virginia $77,290
Wisconsin $85,050
Wyoming $100,310

Tools & Technologies Used by Compliance Managers

Although they’re not necessarily needed for all jobs, the following technologies are used by many Compliance Managers:

  • Microsoft Excel
  • Microsoft Word
  • Microsoft Office
  • Microsoft PowerPoint
  • Microsoft Outlook
  • Web browser software
  • Microsoft Access
  • Email software
  • Word processing software
  • Microsoft Windows
  • Microsoft Project
  • Spreadsheet software
  • Adobe Systems Adobe Acrobat
  • Microsoft Visio
  • Microsoft SharePoint
  • IBM Notes
  • Scheduling software
  • Microsoft Internet Explorer
  • LexisNexis
  • StataCorp Stata

How do I Become a Compliance Manager?

What education is needed to be a Compliance Manager?

Compliance Manager Degree Level

How many years of work experience do I need?

Compliance Manager Work Experience

Compliance Managers Sector

Compliance Manager Sectors

Below are examples of industries where Compliance Managers work:

Compliance Manager Industries

References:

Image Credit: Mike Moore via public domain

More about our data sources and methodologies.

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