Compliance auditors are responsible for ensuring that companies adhere and conform to the state and federal regulations related to their line of work. In line with this duty, they develop compliance auditing plans based on thorough research on government agencies and professional organizations' studies. They also analyze potential risks within the company to avoid possible compliance issues. Compliance auditors earn a median sum of $62,000 annually or $29 per hour.
Compliance auditors may work in various industries, including accounting, insurance, and many more. They perform their duties to protect the company's assets and primarily enforce compliance with internal regulations. They may act as consultants. Due to the job's delicate nature, they need to understand operations and practices within the industry for which they are auditing and using relevant software when performing such duties as data analysis or quality assurance. Compliance auditors typically possess a bachelor's degree in a relevant field and an industry-specific certification.
Employers mostly prefer candidates with some years of auditing experience and in-depth knowledge of the industry's rules, guidelines, and regulations. They are also expected to have a keen eye for detail and solid analytical skills to boot.
There is more than meets the eye when it comes to being a compliance auditor. For example, did you know that they make an average of $30.75 an hour? That's $63,962 a year!
Between 2018 and 2028, the career is expected to grow 6% and produce 90,700 job opportunities across the U.S.
There are certain skills that many compliance auditors have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and detail oriented.
When it comes to the most important skills required to be a compliance auditor, we found that a lot of resumes listed 23.7% of compliance auditors included internal audit, while 7.1% of resumes included regulatory agencies, and 5.9% of resumes included compliance audits. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the compliance auditor job title. But what industry to start with? Most compliance auditors actually find jobs in the health care and finance industries.
If you're interested in becoming a compliance auditor, one of the first things to consider is how much education you need. We've determined that 62.9% of compliance auditors have a bachelor's degree. In terms of higher education levels, we found that 12.0% of compliance auditors have master's degrees. Even though most compliance auditors have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a compliance auditor. When we researched the most common majors for a compliance auditor, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on compliance auditor resumes include master's degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a compliance auditor. In fact, many compliance auditor jobs require experience in a role such as medical coder. Meanwhile, many compliance auditors also have previous career experience in roles such as customer service representative or auditor.