Compliance managers are responsible for observing the practices of a company or institution, in relation to the standards and regulations outlined by the government. Compliance managers perform their job by performing regular inspections and audits, examining both the working conditions as well as the employees themselves. Any violations of government regulations are attributed to the compliance manager directly, and thus a compliance manager is typically very watchful. Compliance managers are commonly employed by organizations where regulation compliance plays an important role, for example financial institutions.
A Bachelor’s degree in a subject related to finances or economics is required from candidates for compliance managers. Since a lot of the experience is attained on the job, it also plays an important role in determining candidates’ eligibility and prospects for future employment. A strong character and observant nature are very beneficial for compliance managers, as is an extensive knowledge of the various regulations in their current jurisdiction.
As a compliance manager, one can expect to earn between $73,000 and $110,000 annually. The large difference comes from the fact that experience affects a compliance manager’s effectiveness to a very large extent, and thus more skilled ones tend to be compensated a lot more than beginners – something which is common for many other jobs, but especially noticeable in this position. Compliance managers employed by private companies are generally able to earn more than those working for government organizations, though it’s not rare for government-employed compliance managers to earn good, stable paychecks as well.