All About Compliance Managers
Compliance Manager Definition Plan, direct, or coordinate activities of an organization to ensure compliance with ethical or regulatory standards.
Compliance Manager Responsibilities
- Report violations of compliance or regulatory standards to duly authorized enforcement agencies as appropriate or required.
- Prepare management reports regarding compliance operations and progress.
- Assess product, compliance, or operational risks and develop risk management strategies.
- Maintain documentation of compliance activities, such as complaints received or investigation outcomes.
- Conduct periodic internal reviews or audits to ensure that compliance procedures are followed.
- Review communications such as securities sales advertising to ensure there are no violations of standards or regulations.
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Skills Needed to be a Compliance Manager
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.
Other Compliance Manager Job Titles
- Regulatory Compliance Officer
- Compliance Review Officer
- Credit Compliance Officer
- Corporate Compliance Director
- Head of Ethics and Compliance
What Kind of Compliance Manager Job Opportunities Are There?
In the United States, there were 992,100 jobs for Compliance Manager in 2016. 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.
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.
Average Compliance Managers Salary
Compliance Managers make between $52,550 and $183,430 a year.
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 |
What Tools & Technology do Compliance Managers Use?
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 or degrees do I need to become a Compliance Manager?
How many years of work experience do I need?
Where do Compliance Managers Work?
Compliance Managers work in the following industries:
References:
Image Credit: Mike Moore via public domain
More about our data sources and methodologies.
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