Chief Compliance Officer Overview Chief compliance officer jobs are available for those with a high amount of ...
Chief Compliance Officer Overview
Chief compliance officer jobs are available for those with a high amount of experience in the financial sector. These officers examine the financial actions that companies and government agencies take before those actions go through. They ensure that every aspect of the transaction meets local, state and federal laws. Chief compliance officers also examine the data available to them and look for alternative methods and ideas when needed. Similar positions open to those with this skill set include government contract jobs and Internal Revenue Service specialist jobs.
Chief Compliance Officer Education Requirements
Chief compliance officers must have a bachelor's degree in business, finance, management or a related field, and some positions require CRCM certification in addition to a degree. Though employees will spend some time learning how the office operates, they must have some skills when applying for the job. Strong computer skills, familiarity with accounting software and experience in tax preparation are all helpful. A compliance officer is an entry-level position, but a chief compliance officer is an advanced position that usually requires five to 10 years of experience.
Chief Compliance Officer Job Market
Approximately 236,090 people worked as chief compliance officers in 2013. Statistics show that this represents a growth of 0.5 percent in recent years. The mean annual wage reported by compliance officers increased by 0.2 percent at the same time that the number of jobs increased. According to recent statistics, the number of jobs in this field will grow at a faster rate than similar business and financial jobs. When the American unemployment rate reached more than 7 percent, workers in this field experienced an unemployment rate of less than 6 percent. As the government keeps a close eye on what businesses do and how companies operate, there will be an increased need for trained and qualified chief compliance officers.
Chief Compliance Officer Salary
The mean annual salary of a chief compliance officer is $66,770, which is $32.10 per hour. The highest wages reported come from employees working for insurance carriers, the federal government and management companies. The top 10 percent of chief compliance officers make more than $99,000 a year.