Based on recent jobs postings on Zippia, the average salary in the U.S. for a Compliance Analyst is $59,108 per year or $28 per hour. The highest paying Compliance Analyst jobs have a salary over $87,000 per year while the lowest paying Compliance Analyst jobs pay $39,000 per year
The role of compliance specialists is to ensure that companies comply with relevant industry standards and regulations. Their duties may vary depending on the industry they work in, such as healthcare or banking. Tasks include reviewing their company's business practices to ensure they follow specific regulations, resolving compliance issues that may arise, and being up-to-date with regulatory changes. As a compliance specialist, you should have industry expertise, in-depth knowledge of regulations, and auditing skills.
A compliance officer is responsible for monitoring company operations, ensuring that all the processes and members are adhering to the regulatory and procedural policies set by the company. Compliance officers' duties also include proposing compliance programs, reviewing and updating existing company policies with management approval, taking immediate actions for policy violations, and mitigating risks. A compliance officer must have extensive knowledge of legal procedures and regulatory standards to manage and evaluate problems, providing meaningful solutions, and keep the company's positive reputation.
Team leaders are responsible for managing a team for a specific project or work component. They primarily guide the team members and ensure that they are still working towards the set goals. Team leaders create strategies to reach goals, cascade the goals and strategies to team members, assign tasks, conduct periodic check-ups on the roadmap towards the goals, foster an engaging work environment, motivate and coach team members, monitor team performance, evaluate the strategies and come up with mitigating plans as needed. They are also responsible for reporting the team's progress to higher management.
Supervisors are responsible for overseeing the daily functions of employees in a specific team, department, or even a work shift. They create work schedules, organize work processes and workflows, train new hires, provide necessary reports related to the team function and the employees, monitor and evaluate employee performance, and ensure that goals of the specific team or department are met. When needed, supervisors also provide guidance to employees in terms of their career or even personal challenges. They also help in fostering harmonious work relationships by resolving interpersonal conflicts at work. To be successful in their role, they must have leadership skills, time management skills, decision-making capabilities, analytical skills, and problem-solving skills.
A senior compliance analyst is a professional who is responsible for ensuring an organization's projects, practices, and policies conform to all relevant laws and regulations. Senior compliance analysts are required to work with a team of legal researchers to help the organization adjusts its policies and practices for compliance with new laws. To avoid facing scrutiny from government auditors, senior analysts must review the organization's policies to enhance compliance and improve efficiency. They also assist the organization in obtaining permits from federal or state agencies before launching projects or programs.
Compliance analysts make about $60,900 per year. Prospective entry-level compliance analysts may see about $48,400 annually, while those with extensive experience will see numbers hovering around $69,400 to $77,139 on the higher end.
Yes, compliance is a good career.
Some prefer to follow an executive career path that will take them to the heights of chief corporate compliance officer. Others may choose to continue as a mixed compliance officer, accepting entry-level roles where they screen customers and ensure daily compliance is followed to the high-tier roles that could involve legislative and governance.
The qualifications you need to be a compliance officer are a bachelor's degree and demonstrating an appropriate skill set. There are no current accredited degrees for compliance; however, a degree in criminal justice, business management, or finance are all preferred modes of entry for budding compliance officers.
The skills needed to be a compliance analyst are knowledge of the industry's legal and ethical practices, heavy analytical and data interpretation skills, and comfort with investigative research and modeling.