Compliance directors ensure that corporations or agencies conform to all rules, regulations, and laws relevant to their functions. They interpret the new regulations and put them in clear terms for their organization's senior management. They also accomplish compliance human resource strategies by determining accountabilities, earning an average sum of $112,000 per year, which is $54 per hour.
Compliance directors are typically the head of a department. That means they are expected to oversee many simultaneous issues in various stages of the compliance and regulatory process. You can guarantee that anything from the conceptual stage and implementation to any operational problems that occur, the compliance director will be there every step of the way. They are also responsible for managing and correcting any violation that occurs as well as instituting policies to eliminate the lapse in regulatory compliance.
Compliance directors mostly hold a bachelor's or master's degree in business or a related field. The position usually requires a minimum of ten years of experience in roles of increasing leadership and responsibility. So it's definitely not an entry-level position. Some employers also prefer to hire candidates with legal, attorney experience.
There is more than meets the eye when it comes to being a compliance director. For example, did you know that they make an average of $51.41 an hour? That's $106,931 a year!
When it comes to the most important skills required to be a compliance director, we found that a lot of resumes listed 9.1% of compliance directors included regulatory agencies, while 6.5% of resumes included oversight, and 6.4% of resumes included privacy. 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 director job title. But what industry to start with? Most compliance directors actually find jobs in the finance and health care industries.
If you're interested in becoming a compliance director, one of the first things to consider is how much education you need. We've determined that 39.8% of compliance directors have a bachelor's degree. In terms of higher education levels, we found that 32.3% of compliance directors have master's degrees. Even though most compliance directors 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 director. When we researched the most common majors for a compliance director, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on compliance director resumes include doctoral degree degrees or associate degree degrees.
You may find that experience in other jobs will help you become a compliance director. In fact, many compliance director jobs require experience in a role such as compliance manager. Meanwhile, many compliance directors also have previous career experience in roles such as manager or director.