What Does A Compliance Manager Do (including Their Typical Day at Work)

Stan T.Career, Overview

Salary, Job Description, How To Become One, and Quiz

Compliance Managers

Compliance Managers plan, direct, or coordinate activities of an organization to ensure compliance with ethical or regulatory standards.

Salary
$75620
Becoming One
Hard
Education
Bachelor's degree
Job Satisfaction
Job Growth

Personality
Interest Match





Find a job you love and you will never work a day in your life.Confucius

What they do

Compliance Managers plan, direct, or coordinate activities of an organization to ensure compliance with ethical or regulatory standards.

  • Report violations of compliance or regulatory standards to duly authorized enforcement agencies as appropriate or required.
  • Identify compliance issues that require follow-up or investigation.
  • Discuss emerging compliance issues to ensure that management and employees are informed about compliance reporting systems, policies, and practices.
  • File appropriate compliance reports with regulatory agencies.

Typical day

On a daily basis, Compliance Managers discuss emerging compliance issues to ensure that management and employees are informed about compliance reporting systems, policies, and practices. They serve as a confidential point of contact for employees to communicate with management, seek clarification on issues or dilemmas, or report irregularities.

A typical day for a Compliance Manager will also include:

  • Maintain documentation of compliance activities, such as complaints received or investigation outcomes.
  • Identify compliance issues that require follow-up or investigation.
  • Review communications such as securities sales advertising to ensure there are no violations of standards or regulations.
  • Oversee internal reporting systems, such as corporate compliance hotlines.
  • Keep informed regarding pending industry changes, trends, or best practices.

Other responsibilities

Besides their typical day, Compliance Managers also develop or implement environmental compliance plans for programs, such as air quality, stormwater, wastewater treatment, hazardous waste management, pollution prevention, or solid waste management. They may also conduct or direct the internal investigation of compliance issues.

On a weekly to monthly basis, Compliance Managers conduct environmental audits to ensure adherence to environmental standards. They might also consult with corporate attorneys as necessary to address difficult legal compliance issues.

In addition, they design or implement improvements in communication, monitoring, or enforcement of compliance standards.

Although specific duties may vary, many of them review communications such as securities sales advertising to ensure there are no violations of standards or regulations.

To some Compliance Managers, it is also their responsibility to provide employee training on compliance-related topics, policies, or procedures.

Freedom to make decisions

How much decision making freedom does this job offer?

No freedom
0%

Very little freedom
2%

Limited freedom
17%

Some freedom
32%

A lot of freedom
49%

Structured vs unstructured work

To what extent is this job structured for you versus allowing you to determine your own tasks, priorities, and goals?

No freedom
0%

Very little freedom
2%

Limited freedom
5%

Some freedom
50%

A lot of freedom
42%


Featured Schools


What is the job like

Job satisfaction

Very High

Is this job meaningful

High

75% said they were satisfied with their job and 62% said they found their job meaningful.


CraftCover

I’m a Broking and Compliance Manager at Craftcover. We provide specialist cover for the crafting sector. My typical day My day starts by dealing with any emails or queries from customers who have questions about the quotes that they have received or policy wording. This can range from emailing a customer back who might not … Read More


Entrust Solutions

A typical day for me involves a fair amount of review because compliance standards are constantly evolving and expanding. I have to ensure that our systems, employees, and clients are meeting the compliance standards required by our contracts. I also work on the requirements for potential upcoming contracts. Some of my key responsibilities are researching … Read More


Pros

Suitable for people who like to follow routines.

Suitable for people who value achievements and are results-oriented.

This career is perfect for people who love to work indoors.

One of the highest-paid careers in the world.

Cons

Not suitable for people who like to work with designs.

It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.

Long working hours (More than 40 hours per week).

How much do they make

Average salary

$75620 per year

Average hourly wage

$36 per hour

Entry-level Compliance Managers with little to no experience can expect to make anywhere between $40,160 to $52,670 per year or $19 to $25 per hour.

Salary by experience Annual Hourly
Highest (Top 10%) $115,220 $55
Senior (Top 25%) $95,330 $46
Median $71,100 $34
Junior (Bottom 25%) $52,670 $25
No experience (Bottom 10%) $40,160 $19

This table shows the top 10 highest paying industries for Compliance Managers based on their average annual salary.

Salary by industry Annual Hourly
Metal Ore Mining $111580 $53.65
Engine, Turbine, and Power Transmission Equipment Manufacturing $98650 $47.43
Securities, Commodity Contracts, and Other Financial Investments and Related Activities $94200 $45.29
Scientific Research and Development Services $93380 $44.90
Computer and Peripheral Equipment Manufacturing $92940 $44.68
Electric Power Generation, Transmission and Distribution $92870 $44.65
Aerospace Product and Parts Manufacturing $92410 $44.43
Pipeline Transportation of Crude Oil $92090 $44.28
Natural Gas Distribution $91950 $44.20
Navigational, Measuring, Electromedical, and Control Instruments Manufacturing $90820 $43.66

View more salary by industries here.

Where can they work

Where can Compliance Managers work? Here is a table showing the top 10 largest employers of Compliance Managers including the average salary in that industry.

Employers Total Employed Annual Salary Hourly Wages
Federal Executive Branch 61690 $86730 $41.70
State Government 37800 $60900 $29.28
Local Government 28670 $62240 $29.92
Management of Companies and Enterprises 19940 $82400 $39.61
Credit Intermediation and Related Activities 10910 $73950 $35.55
Insurance Carriers 10810 $76120 $36.59
Management, Scientific, and Technical Consulting Services 9440 $74960 $36.04
Scientific Research and Development Services 7570 $93380 $44.90
Agencies, Brokerages, and Other Insurance Related Activities 7520 $74630 $35.88
General Medical and Surgical Hospitals 7310 $74570 $35.85

What is the work day like

Working hours

Less than 40 hours
0%

40 hours
28%

More than 40 hours
72%

Working schedule

87%

13%

0%

Work with group or team

How important is it to work with others in a group or team in this job?

Not important at all
0%

Fairly important
0%

Important
0%

Very important
24%

Extremely important
76%

Deal with external customers

How important is it to work with customers in this job?

Not important at all
7%

Fairly important
7%

Important
17%

Very important
24%

Extremely important
45%

Manage or lead others

How important is it to coordinate or lead others in completing work activities in this job?

Not important at all
0%

Fairly important
0%

Important
25%

Very important
37%

Extremely important
38%

Email

How often do you use email in this job?

Once a week
0%

Every day
100%

Telephone

How often do you have telephone conversations in this job?

Once a week
16%

Every day
81%

Group discussions

How often do you have group discussions in this job?

Once a week
22%

Every day
78%

Public speaking

How often does this job require you to do public speaking?

Never
0%

Once a year
60%

Once a month
10%

Once a week
13%

Every day
17%

Frequency of conflict situations

How often are there conflict situations in this job?

Never
0%

Once a year
25%

Once a month
33%

Once a week
18%

Every day
25%

Dealing with angry people

How often do you have to deal with angry, unpleasant, or discourteous individuals in this job?

Never
0%

Once a year
35%

Once a month
33%

Once a week
8%

Every day
23%

Dealing with physically aggressive people

How often do you have to deal with physically aggressive people in this job?

Never
31%

Once a year
37%

Once a month
22%

Once a week
0%

Every day
10%

Level of competition

How much competitive pressure is in this job?

Not competitive at all
11%

Slightly competitive
7%

Moderately competitive
34%

Highly competitive
34%

Extremely competitive
14%

Repetition in this job

How important is repeating the same type of task over and over in this job?

Not important at all
5%

Fairly important
13%

Important
9%

Very Important
42%

Extremely Important
32%

Impact of decisions on co-workers or company results

What results do your decisions usually have on other people or the reputation or financial resources of your employer?

No impact
0%

Minor impact
0%

Moderate impact
26%

Important impact
23%

Very important impact
52%

Frequency of decision making

How frequently do you have to make decisions that affect other people, the financial resources, and/or the reputation of the company?

Never
0%

Once a year
0%

Once a month
41%

Once a week
10%

Every day
49%

Responsibility for others’ health and safety

How much responsibility is there for the health and safety of others in this job?

No responsibility
6%

Limited responsibility
9%

Moderate responsibility
11%

High responsibility
29%

Very high responsibility
45%

Responsibility for outcomes and results

How much responsibility is there for the work outcomes and results of other workers?

No responsibility
7%

Limited responsibility
6%

Moderate responsibility
20%

High responsibility
20%

Very high responsibility
46%

What is the work environment like

Office-style environment

Indoors in an environmentally controlled condition

Never
0%

Once a year or more
9%

Once a month or more
0%

Once a week or more
4%

Every day
88%

Warehouse-style environment

Indoors in a non-controlled environmental condition such as a warehouse

Never
57%

Once a year or more
32%

Once a month or more
0%

Once a week or more
0%

Every day
11%

Outdoors

Outdoors exposed to all weather conditions

Never
69%

Once a year or more
13%

Once a month or more
0%

Once a week or more
10%

Every day
8%

Outdoors – Under Cover

Outdoors but under cover (e.g. structure with roof but no walls)

Never
85%

Once a year or more
8%

Once a month or more
0%

Once a week or more
6%

Every day
0%

How to become one

Difficulty to become one

Hard
You will need a considerable amount of work-related skill, knowledge, or experience. Careers in this difficulty category usually require a Bachelor’s degree and several years of work-related experience, on-the-job training, and/or vocational training. Similar careers include Database Administrators, Chemists, Art Directors, and Accountants.

Required level of education

What level of education do you need to perform the job?

Less than a High School Diploma
0%

High School Diploma or equivalent
9%

Post-Secondary Certificate
7%

Some College Courses
1%

Associate’s Degree or similar
5%

Bachelor’s Degree
63%

Post-Baccalaureate Certificate
0%

Master’s Degree
14%

Post-Master’s Certificate
0%

First Professional Degree
0%

Doctoral Degree
0%

Post-Doctoral Training
0%

Relevant work experience

How much related work experience do you need to get hired for the job?

None
13%

1 month
0%

1 to 3 months
0%

3 to 6 months
1%

6 months to 1 year
0%

1 to 2 years
10%

2 to 4 years
43%

4 to 6 years
18%

6 to 8 years
5%

8 to 10 years
5%

Over 10 years
5%

On The Job Training

How much on the job training do you need to perform the job?

None or short demonstration
0%

1 month
9%

1 to 3 months
27%

3 to 6 months
21%

6 months to 1 year
14%

1 to 2 years
23%

2 to 4 years
0%

4 to 10 years
0%

Over 10 years
7%

Should you become one

Best personality type for this career

The Organizer

People with this personality type likes to follow set procedures and routines. They prefer working with data and details more than with ideas.

The Builder
52%

People with The Builder personality type likes practical and hands-on work. They prefer working with plants, animals, and real-world materials like wood, tools, and machinery.


The Thinker
52%

People with The Thinker personality likes to work with ideas that require an extensive amount of thinking. They prefer work that requires them to solve problems mentally.


The Artist
19%

People with The Artist personality likes to work with designs and patterns. They prefer activities that require self-expression and prefer work that can be done without following a clear set of rules.


The Helper
24%

People with The Helper personality type likes to work with people and in teams. They prefer work that allows them to build relationships with others.


The Leader
76%

People with The Leader personality likes to start and work on projects. They also like leading people and making many decisions.


The Organizer
81%

People with The Organizer personality type likes to follow set procedures and routines. They prefer working with data and details more than with ideas.


You can read more about these career personality types here.

People who are suitable for this job tend to like following set procedures and routines. They like working with data and details more than with ideas.

They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk-taking and often deal with business.

Take this quiz to see if this is the right career for you.

Work Values

Which values are the most important to a person’s satisfaction for this job?

Achievement
71%

You are someone who is results oriented. You prefer work that allows you to utilize your skills and abilities while at the same time giving you a sense of accomplishment.

Working Conditions
64%

You are someone who values job security, steady employment, and good working conditions. You also prefer work that keeps you busy all the time with something different to do every day.

Recognition
67%

You are someone who values job advancement and leadership roles. You prefer work that receives recognition for the work you do and jobs that are looked up to by others in the company and your community.

Relationships
67%

You are someone who likes to provide a service to others. You prefer a work environment where you can work with your co-workers in a friendly non-competitive environment.

Support
71%

You are someone who values a company that stands behind their employees. You prefer a work environment where everyone is treated fairly and is being supported by the company.

Independence
67%

You are someone who likes to work on your own and make your own decisions. You prefer work that requires little supervision and are allowed to try out your own ideas.

FAQ


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