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Compliance manager hiring summary. Here are some key points about hiring compliance managers in the United States:
Here's a step-by-step compliance manager hiring guide:
Compliance managers are professionals who maintain the ethical and legal integrity of an organization. They establish and oversee control systems to deal with and prevent violations against internal policies and legal guidelines. It is their responsibility to assess the efficiency of controls and improve their continuity. They are professionals with exceptional analytical skills as they design control systems, execute regular audits, and enforce organizational policies. The skills necessary for this job include strong communication skills and knowledge of industry regulations and procedures.
Before you post your compliance manager 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 manager for hire on a part-time basis or as a contractor.
Hiring the perfect compliance manager also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.
The following list breaks down different types of compliance managers and their corresponding salaries.
| Type of Compliance Manager | Description | Hourly rate |
|---|---|---|
| Compliance Manager | $31-65 | |
| 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 |
| Head Of Ethics And Compliance | A company's head of ethics and compliance is in charge of implementing policies and regulations to ensure a safe and efficient work environment. They typically manage staff, set department goals and timelines, establish guidelines and protocols, and develop strategies to optimize operations... Show more | $42-95 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $123,348 | $59 |
| 2 | New York | $108,033 | $52 |
| 3 | New Jersey | $106,377 | $51 |
| 4 | District of Columbia | $105,530 | $51 |
| 5 | Massachusetts | $101,893 | $49 |
| 6 | Connecticut | $99,881 | $48 |
| 7 | Washington | $97,845 | $47 |
| 8 | Maryland | $97,679 | $47 |
| 9 | Oregon | $97,122 | $47 |
| 10 | Nevada | $96,909 | $47 |
| 11 | Arizona | $95,168 | $46 |
| 12 | North Carolina | $92,912 | $45 |
| 13 | Virginia | $92,273 | $44 |
| 14 | Ohio | $90,674 | $44 |
| 15 | Texas | $85,716 | $41 |
| 16 | Pennsylvania | $84,862 | $41 |
| 17 | Iowa | $84,524 | $41 |
| 18 | Maine | $84,066 | $40 |
| 19 | Illinois | $83,500 | $40 |
| 20 | Oklahoma | $82,913 | $40 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Meta | $156,323 | $75.16 | 69 |
| 2 | McKinsey & Company Inc | $148,790 | $71.53 | 30 |
| 3 | PayPal | $148,526 | $71.41 | |
| 4 | Apple | $147,494 | $70.91 | 4 |
| 5 | Latham & Watkins | $143,118 | $68.81 | |
| 6 | The Walt Disney Company | $142,869 | $68.69 | 1 |
| 7 | ICE Mortgage Technology | $142,629 | $68.57 | |
| 8 | First Republic Bank | $139,447 | $67.04 | |
| 9 | Chegg | $138,692 | $66.68 | |
| 10 | $138,656 | $66.66 | 8 | |
| 11 | NVIDIA | $138,078 | $66.38 | |
| 12 | Atlassian | $137,870 | $66.28 | |
| 13 | eBay | $137,688 | $66.20 | 1 |
| 14 | ZS | $136,097 | $65.43 | |
| 15 | Box | $135,093 | $64.95 | 1 |
| 16 | Databricks | $134,795 | $64.81 | |
| 17 | F5 | $133,525 | $64.19 | 4 |
| 18 | Mayo Clinic | $132,580 | $63.74 | |
| 19 | Wind River | $132,419 | $63.66 | |
| 20 | Bunge | $132,260 | $63.59 |
A job description for a compliance manager role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a compliance manager job description:
To find the right compliance manager for your business, consider trying out a few different recruiting strategies:
Recruiting compliance managers 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.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
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 manager 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 good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
After that, you can create an onboarding schedule for a new compliance manager. 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.
Before you start to hire compliance managers, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire compliance managers pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
The median annual salary for compliance managers is $95,130 in the US. However, the cost of compliance manager hiring can vary a lot depending on location. Additionally, hiring a compliance manager for contract work or on a per-project basis typically costs between $31 and $65 an hour.