Compliance Jobs on the Rise
Since the Dodd-Frank Act passed in July 2010, the demand for compliance officers has skyrocketed. And it will continue to grow – the U.S. Department of Labor projects that compliance officer jobs will grow by 31 percent between 2008 and 2018, much faster than the average for all occupations.
The Dodd–Frank Wall Street Reform and Consumer Protection Act impacted just about every part of the country’s financial services industry after it was signed into federal law in July 2010. The goal of the Act was to promote the country’s financial stability by improving accountability and transparency in the financial system, ending bailouts, and creating a consumer protection bureau.
All jobs in compliance will increase in the next decade as corporations’ need to comply with new regulations grows. Because they are in high demand, compliance officers can earn up to $98,000 annually. According to GlassDoor.com, the average compliance officer salary is $65,000 annually. According to the U.S. News & World Report, the highest-paid compliance officers worked in the metropolitan areas of Stamford, CT, Brunswick, GA, San Francisco, CA, San Jose, CA, and Bethesda, MD.
Compliance jobs usually require experience with audit management, and either Certified Fraud Examiner or Certified Internal Auditor certification, or even a master's degree in accounting or finance. While hiring of Compliance Officers continues nationwide, the biggest demand is in those cities with the largest concentration of financial service firms, such as New York, Chicago and Dallas.
Compliance Jobs include:
• Regulatory Compliance Officer
• Director of Regulatory Compliance
• Compliance Analyst
• Compliance Officer
• Director of Compliance
• Consumer Compliance Manager
• Director of Securities Compliance
• Sarbanes-Oxley compliance auditors
• Sarbanes-Oxley compliance analysts
• SOX Internal Auditors
• SOX External Auditors