What Does it Take to Be a Compliance Manager?
Career Description Plan, direct, or coordinate activities of an organization to ensure compliance with ethical or regulatory standards.
A Day in the Life of a Compliance Manager
- Evaluate testing procedures to meet the specifications of environmental monitoring programs.
- Disseminate written policies and procedures related to compliance activities.
- Oversee internal reporting systems such as corporate compliance hotlines and inform employees about these systems.
- Conduct or direct the internal investigation of compliance issues.
- Prepare management reports regarding compliance operations and progress.
- Verify that software technology is in place to adequately provide oversight and monitoring in all required areas.
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Things a Compliance Manager Should Know How to Do
Below is a list of the skills most Compliance Managers say are important on the job.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Speaking: Talking to others to convey information effectively.
Active Learning: Understanding the implications of new information for both current and future problem-solving and decision-making.
Related Job Titles
- Financial Compliance Officer
- Regulatory Compliance Specialist
- IRB Compliance Coordinator
- Compliance Coordinator
- Regulatory Compliance Officer
Is There Going to be Demand for Compliance Managers?
In 2016, there was an estimated number of 992,100 jobs in the United States for Compliance Manager. New jobs are being produced at a rate of 8% which is above the national average. The Bureau of Labor Statistics predicts 79,600 new jobs for Compliance Manager by 2026. The BLS estimates 79,200 yearly job openings in this field.
The states with the most job growth for Compliance Manager are Utah, Washington, and Nevada. Watch out if you plan on working in Vermont, Maine, or Maryland. These states have the worst job growth for this type of profession.
How Much Does a Compliance Manager Make?
Compliance Managers make between $52,550 and $183,430 a year.
Compliance Managers who work in District of Columbia, Virginia, or California, make the highest salaries.
How much do Compliance Managers make in different U.S. states?
| State | Annual Mean Salary |
|---|---|
| Alabama | $106,680 |
| Alaska | $118,650 |
| Arizona | $101,630 |
| Arkansas | $86,410 |
| California | $143,350 |
| Colorado | $138,490 |
| Connecticut | $129,730 |
| Delaware | $134,410 |
| District of Columbia | $147,460 |
| Florida | $99,240 |
| Georgia | $118,060 |
| Hawaii | $93,760 |
| Idaho | $85,070 |
| Illinois | $90,080 |
| Indiana | $71,560 |
| Iowa | $101,360 |
| Kansas | $102,560 |
| Kentucky | $92,630 |
| Louisiana | $87,080 |
| Maine | $96,570 |
| Maryland | $122,050 |
| Massachusetts | $131,450 |
| Michigan | $98,780 |
| Minnesota | $128,590 |
| Mississippi | $82,230 |
| Missouri | $97,820 |
| Montana | $76,990 |
| Nebraska | $101,380 |
| Nevada | $102,060 |
| New Hampshire | $123,580 |
| New Jersey | $138,820 |
| New Mexico | $96,490 |
| New York | $124,160 |
| North Carolina | $121,500 |
| North Dakota | $109,820 |
| Ohio | $107,320 |
| Oklahoma | $102,710 |
| Oregon | $94,400 |
| Pennsylvania | $126,290 |
| Rhode Island | $114,660 |
| South Carolina | $100,890 |
| South Dakota | $99,030 |
| Tennessee | $83,010 |
| Texas | $122,130 |
| Utah | $102,290 |
| Vermont | $105,950 |
| Virginia | $134,500 |
| Washington | $125,490 |
| West Virginia | $77,290 |
| Wisconsin | $85,050 |
| Wyoming | $100,310 |
Tools & Technologies Used by Compliance Managers
Although they’re not necessarily needed for all jobs, the following technologies are used by many Compliance Managers:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- Email software
- Word processing software
- Microsoft Windows
- Microsoft Project
- Spreadsheet software
- Adobe Systems Adobe Acrobat
- Microsoft Visio
- Microsoft SharePoint
- IBM Notes
- Scheduling software
- Microsoft Internet Explorer
- LexisNexis
- StataCorp Stata
How do I Become a Compliance Manager?
What education or degrees do I need to become a Compliance Manager?
What work experience do I need to become a Compliance Manager?
Where Compliance Managers Work
The table below shows the approximate number of Compliance Managers employed by various industries.
References:
Image Credit: Mike Moore via public domain
More about our data sources and methodologies.
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