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Regulatory compliance specialist hiring summary. Here are some key points about hiring regulatory compliance specialists in the United States:
Here's a step-by-step regulatory compliance specialist hiring guide:
A regulatory compliance specialist job is to ensure that organizations conform to industry standards, specifications, regulations, and laws. They review operating practices, make and enforce compliance plans, and perform regulatory possible risk management. They may be employed as consultants or hired by an organization. They will review documentation, coordinating regulatory compliance procedures across organizations, collaborating with stakeholders, internal and external, on issues related to compliance, and performing audits. In addition, this job requires extensive experience in regulatory compliance and profound industry knowledge.
Before you post your regulatory compliance specialist 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 regulatory compliance specialist for hire on a part-time basis or as a contractor.
A regulatory compliance specialist's background is also an important factor in determining whether they'll be a good fit for the position. For example, regulatory compliance specialists 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.
Here's a comparison of regulatory compliance specialist salaries for various roles:
| Type of Regulatory Compliance Specialist | Description | Hourly rate |
|---|---|---|
| Regulatory Compliance Specialist | $20-44 | |
| Compliance Officer | 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... Show more | $20-46 |
| Chief Compliance Officer | A CCO or Chief Compliance Officer's primary responsibility is to ensure all procedures or activities are compliant with the company's overall policy and adhering to legal protocols with state and federal laws. Thus, the CCO drafts, proposes and develops compliance programs for the company to implement... Show more | $31-76 |
Including a salary range in the regulatory compliance specialist job description is a good way to get more applicants. A regulatory compliance specialist salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a regulatory compliance specialist in Montana may be lower than in New Jersey, and an entry-level engineer typically earns less than a senior-level regulatory compliance specialist. Additionally, a regulatory compliance specialist with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $78,957 | $38 |
| 2 | New Jersey | $76,536 | $37 |
| 3 | District of Columbia | $73,556 | $35 |
| 4 | Delaware | $72,298 | $35 |
| 5 | Massachusetts | $72,005 | $35 |
| 6 | Washington | $71,168 | $34 |
| 7 | Maryland | $69,091 | $33 |
| 8 | Virginia | $69,081 | $33 |
| 9 | Pennsylvania | $65,196 | $31 |
| 10 | New York | $64,567 | $31 |
| 11 | Illinois | $63,994 | $31 |
| 12 | North Carolina | $63,635 | $31 |
| 13 | Texas | $63,571 | $31 |
| 14 | Arizona | $63,082 | $30 |
| 15 | Colorado | $62,338 | $30 |
| 16 | North Dakota | $58,888 | $28 |
| 17 | Oregon | $58,327 | $28 |
| 18 | Michigan | $57,982 | $28 |
| 19 | Missouri | $56,154 | $27 |
| 20 | Indiana | $56,118 | $27 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Microsoft | $112,761 | $54.21 | 2 |
| 2 | Stryker | $98,694 | $47.45 | 5 |
| 3 | Cisco | $95,944 | $46.13 | 3 |
| 4 | Zebra Technologies | $90,700 | $43.61 | |
| 5 | Capital Group | $88,032 | $42.32 | |
| 6 | Ernst & Young | $87,990 | $42.30 | 77 |
| 7 | Amazon | $87,949 | $42.28 | 27 |
| 8 | BASF | $87,065 | $41.86 | 2 |
| 9 | Duquesne Light Company | $86,366 | $41.52 | 1 |
| 10 | Oracle | $84,529 | $40.64 | 285 |
| 11 | Morgan Stanley | $82,946 | $39.88 | 11 |
| 12 | Gilead Sciences | $82,363 | $39.60 | 7 |
| 13 | Arizona Public Service | $82,171 | $39.51 | |
| 14 | UBS | $80,940 | $38.91 | 3 |
| 15 | Robinhood | $80,478 | $38.69 | 5 |
| 16 | Pinnacle West Capital | $80,357 | $38.63 | |
| 17 | Cytec Industries | $79,504 | $38.22 | |
| 18 | JUUL | $77,954 | $37.48 | 1 |
| 19 | Moss Adams | $77,934 | $37.47 | 1 |
| 20 | Denbury Resources | $76,986 | $37.01 |
A good regulatory compliance specialist 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 regulatory compliance specialist job description:
To find regulatory compliance specialists for your business, try out a few different recruiting strategies:
Your first interview with regulatory compliance specialist candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to 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 regulatory compliance specialist 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 equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.
Once that's done, you can draft an onboarding schedule for the new regulatory compliance specialist. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
There are different types of costs for hiring regulatory compliance specialists. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new regulatory compliance specialist employee.
Regulatory compliance specialists earn a median yearly salary is $63,073 a year in the US. However, if you're looking to find regulatory compliance specialists for hire on a contract or per-project basis, hourly rates typically range between $20 and $44.