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Compliance director hiring summary. Here are some key points about hiring compliance directors in the United States:
Here's a step-by-step compliance director hiring guide:
Compliance Directors oversee the adherence of different business units to company policies. They are considered experts on the different processes, policies, and regulatory systems that govern the business's operations, be it internal or external. They also keep themselves updated on the different external regulations and compliance procedures from governing bodies. This helps them ensure that the company is following the current guidelines. Compliance Directors have a say in the different internal company policies while overseeing the compliance to finance, human resources, and other related procedures.
Before you post your compliance director job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a compliance director for hire on a part-time basis or as a contractor.
A compliance director's background is also an important factor in determining whether they'll be a good fit for the position. For example, compliance directors from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list presents compliance director salaries for various positions.
| Type of Compliance Director | Description | Hourly rate |
|---|---|---|
| Compliance Director | $34-70 | |
| Regulatory Affairs Manager | A regulatory affairs manager is in charge of ensuring that all aspects of a company adhere to the rules and regulations set by regulatory agencies. Their responsibilities revolve around devising regulation compliance strategies, creating training and orientation programs to inform the staff on the policies and standards, conducting internal inspections and information drives, and keeping abreast with the latest rules and regulations... Show more | $37-85 |
| Manager, Quality Management, Corporate Compliance | Depending on the industry, there are a lot of functions you need to comply with if you want to become a manager of quality management and corporate compliance. Commonly seen in banks, manufacturing, processing, automotive, and textile companies, this job position is responsible for monitoring, implementing, and oversees the quality of a product... Show more | $35-71 |
Including a salary range in your compliance director job description helps attract top candidates to the position. A compliance director salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.
For example, the average salary for a compliance director in Tennessee may be lower than in California, and an entry-level compliance director usually earns less than a senior-level compliance director. Additionally, a compliance director with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $132,320 | $64 |
| 2 | New York | $116,372 | $56 |
| 3 | New Jersey | $115,410 | $55 |
| 4 | Delaware | $112,578 | $54 |
| 5 | Connecticut | $111,034 | $53 |
| 6 | District of Columbia | $110,940 | $53 |
| 7 | Pennsylvania | $107,135 | $52 |
| 8 | Massachusetts | $105,393 | $51 |
| 9 | Nevada | $103,873 | $50 |
| 10 | Arizona | $103,329 | $50 |
| 11 | Virginia | $101,136 | $49 |
| 12 | Maryland | $98,750 | $47 |
| 13 | North Carolina | $98,262 | $47 |
| 14 | Washington | $97,825 | $47 |
| 15 | Utah | $92,712 | $45 |
| 16 | Texas | $91,294 | $44 |
| 17 | Minnesota | $90,854 | $44 |
| 18 | Indiana | $90,275 | $43 |
| 19 | Illinois | $90,263 | $43 |
| 20 | Florida | $90,053 | $43 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | McKinsey & Company Inc | $169,605 | $81.54 | |
| 2 | Meta | $166,555 | $80.07 | 120 |
| 3 | Pure Storage | $160,283 | $77.06 | 1 |
| 4 | PayPal | $158,662 | $76.28 | 7 |
| 5 | Netflix | $155,155 | $74.59 | |
| 6 | Exelixis | $151,190 | $72.69 | 6 |
| 7 | First Republic Bank | $148,620 | $71.45 | |
| 8 | Dolby Laboratories | $145,893 | $70.14 | |
| 9 | TripActions | $145,078 | $69.75 | |
| 10 | Dorsey & Whitney | $144,675 | $69.56 | |
| 11 | Santander Private Banking International | $141,918 | $68.23 | |
| 12 | Silicon Valley Bank | $140,701 | $67.64 | |
| 13 | Sumitomo Mitsui Financial Group | $139,685 | $67.16 | |
| 14 | Chewy | $138,616 | $66.64 | |
| 15 | JUUL | $138,389 | $66.53 | |
| 16 | Citi | $137,649 | $66.18 | 9 |
| 17 | BNP Paribas | $135,778 | $65.28 | |
| 18 | Navistar | $135,017 | $64.91 | 2 |
| 19 | Remitly | $134,877 | $64.84 | |
| 20 | Square | $134,604 | $64.71 |
A good compliance director job description should include a few things:
Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a compliance director job description:
There are various strategies that you can use to find the right compliance director for your business:
Recruiting compliance directors requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.
You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you have selected a candidate for the compliance director position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
After that, you can create an onboarding schedule for a new compliance director. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Hiring a compliance director comes with both the one-time cost per hire and ongoing costs. The cost of recruiting compliance directors involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of compliance director recruiting as well the ongoing costs of maintaining the new employee.
The median annual salary for compliance directors is $103,517 in the US. However, the cost of compliance director hiring can vary a lot depending on location. Additionally, hiring a compliance director for contract work or on a per-project basis typically costs between $34 and $70 an hour.