Compliance Manager

Your Fit

Income

$134K

Preparation

Considerable

Growth

3.3%

Definition
Your fit with this career
How much they earn
What they do
Job satisfaction
How to become

What is a Compliance Manager?

A Compliance Manager ensures that an organization adheres to legal standards and internal policies. They play a crucial role in assessing and mitigating compliance risks and ensuring operations are conducted ethically and legally.

Your test results

Why this fit score?

The fit report shows your areas of fit and misfit with Compliance Manager.

Fit report

Test scores

The scores report summarizes what we learned about you. It shows your results on everything measured in the career test.

Scores report

How much does a Compliance Manager earn

According to the U.S. Bureau of Labor Statistics, typical income (in USD) is...

Bottom 10%	Bottom 25%	Median (average)	Top 25%	Top 10%
$67K per year	$98K per year	$134K per year	$175K per year	$225K per year

Compared to other careers: Median is $86K above the national average.

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What does a Compliance Manager do?

Work environment

Compliance Managers typically work in office settings within various industries, including finance, healthcare, and technology. They often collaborate with different departments and interact with external regulatory bodies. The work involves regular office hours but can include additional hours for audits, investigations, or meeting regulatory deadlines.

Quick task list

Develops and oversees compliance programs.
Conducts internal audits and risk assessments.
Trains employees on compliance policies and procedures.
Monitors and reports on the effectiveness of compliance efforts.
Advises on new laws and regulations affecting the organization.

See full list of tasks with expert relevance ratings

Areas of specialization

Financial Compliance: Focusing on adherence to financial regulations and laws.
Healthcare Compliance: Specializing in compliance within healthcare settings, including patient privacy laws.
Environmental Compliance: Concentrating on environmental laws and sustainability practices.
Technology Compliance: Ensuring compliance in technology and data protection laws.

Description

Compliance Managers hold a pivotal role in maintaining the integrity of an organization by ensuring adherence to laws, regulations, and internal policies. Their day-to-day responsibilities involve developing compliance programs that match the specific needs of their industry, conducting regular audits to identify any areas of risk, and implementing corrective actions to mitigate these risks. They also stay abreast of new legislation and regulatory changes, adapting the organization's policies and procedures accordingly.

The role is dynamic and requires a strong understanding of both the legal landscape and the specific industry in which the manager operates. Compliance Managers not only need to understand complex legal jargon but also translate it into clear, actionable guidelines for the organization. Effective communication skills are essential, as they must regularly convey complex information to various stakeholders, including executive teams, employees, and external regulators.

A career as a Compliance Manager is intellectually stimulating and provides a sense of satisfaction from knowing your work ensures ethical practices and legal conformity. The role is crucial in safeguarding the organization's reputation and financial well-being by avoiding legal penalties and ensuring operational transparency.

Job Satisfaction

Sources of satisfaction

Playing a key role in upholding the ethical standards of the organization.
Continuously learning about new laws and regulations.
The challenge of solving complex compliance issues.

You might make a good Compliance Manager if you are...

Interested in law, ethics, and regulatory requirements.
Detail-oriented, able to understand and apply complex legal information.
An excellent communicator, capable of explaining regulations and policies.
Analytical and able to identify and mitigate risks.
Organized and proactive in managing compliance programs.

Pros:

High level of responsibility and influence within an organization.
Diverse work with opportunities in various industries.
Intellectual satisfaction from navigating complex regulatory environments.

Cons:

High-pressure role with significant responsibility.
Constant need to stay updated with changing laws and regulations.
Potential for long hours during audits or regulatory deadlines.

How to become a Compliance Manager

Typical education

This role usually requires a bachelor's degree in law, business administration, or a related field. Advanced degrees or certifications in compliance, such as Certified Compliance & Ethics Professional (CCEP), can be beneficial.

High school preparation

Courses:

Business Studies and Economics to understand the basics of business operations.
Government or Civics to get a foundation in law and regulations.
Mathematics for developing analytical skills.

Extra-Curricular Activities:

Participation in debate clubs to enhance argumentation and presentation skills.
Volunteering in community programs to understand societal and ethical issues.
Leadership roles in school organizations to develop management skills.

Preparation after high school

Obtain a bachelor's degree in law, business, or related fields.
Consider internships in regulatory bodies or compliance departments.
Pursue certifications like the Certified Compliance & Ethics Professional (CCEP).
Attend workshops and seminars on compliance and regulatory changes.

More resources

Society of Corporate Compliance and Ethics (SCCE) - Professional association offering resources and certifications.
Compliance Week - A publication offering news and insights on compliance.
National Association of Compliance Professionals - Offers education and networking opportunities for compliance professionals.
The Compliance and Ethics Blog - Provides updates and insights on the latest compliance trends and challenges.

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