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The differences between compliance officers and compliance specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a compliance officer has an average salary of $64,058, which is higher than the $57,330 average annual salary of a compliance specialist.
The top three skills for a compliance officer include oversight, risk management and compliance program. The most important skills for a compliance specialist are patients, regulatory compliance, and strong analytical.
| Compliance Officer | Compliance Specialist | |
| Yearly salary | $64,058 | $57,330 |
| Hourly rate | $30.80 | $27.56 |
| Growth rate | - | 6% |
| Number of jobs | 69,161 | 34,610 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 61% |
| Average age | 46 | 46 |
| Years of experience | - | - |
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.
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.
Compliance officers and compliance specialists have different pay scales, as shown below.
| Compliance Officer | Compliance Specialist | |
| Average salary | $64,058 | $57,330 |
| Salary range | Between $42,000 And $96,000 | Between $38,000 And $85,000 |
| Highest paying City | Wilmington, DE | San Francisco, CA |
| Highest paying state | Delaware | Delaware |
| Best paying company | Meta | Meta |
| Best paying industry | Finance | Pharmaceutical |
There are a few differences between a compliance officer and a compliance specialist in terms of educational background:
| Compliance Officer | Compliance Specialist | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | Harvard University | Harvard University |
Here are the differences between compliance officers' and compliance specialists' demographics:
| Compliance Officer | Compliance Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 48.8% Female, 51.2% | Male, 38.4% Female, 61.6% |
| Race ratio | Black or African American, 11.1% Unknown, 4.5% Hispanic or Latino, 15.9% Asian, 8.3% White, 59.4% American Indian and Alaska Native, 0.8% | Black or African American, 10.9% Unknown, 4.5% Hispanic or Latino, 15.7% Asian, 8.2% White, 59.8% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 12% | 12% |