Top Five U.S. High-Paying Jobs in the Compliance Industry

Today, organizations face a complex and challenging compliance management landscape. With the rapid advancements in technology and changing regulatory requirements, organizations must develop effective strategies to stay compliant. ISO 37301 has emerged as a valuable standard that organizations can use to develop robust compliance management systems. 

As regulatory demands evolve, the risk of non-compliance has become a significant concern for organizations globally. In response to this, ISO 37301 certification is gaining recognition in the professional world. The certification equips individuals with the knowledge and skills to develop, implement, and maintain compliance programs, ensuring organizations adhere to relevant laws and standards. 

ISO 37301-certified professionals are becoming indispensable assets to any organization, as ethical business practices and corporate responsibility become more prevalent. By obtaining the ISO 37301 Compliance Management Certification, professionals can demonstrate their expertise in compliance management, open doors to promising career opportunities, and contribute to a more ethical and compliant workplace.

1. Chief Compliance Officer

The average annual U.S. salary of a chief compliance officer is $176,710.

The main responsibilities of a chief compliance officer include: 

• Developing and implementing comprehensive compliance programs.
• Monitoring and reporting on potential compliance risks and violations.
• Creating and reviewing company policies to reflect laws and regulations.
• Providing training to educate employees about laws and policies.
• Assessing and mitigating potential compliance risks.
• Leading investigations into suspected violations or unethical behavior.
• Communicating with senior management and the board of directors.
• Interacting with external regulatory bodies and responding to inquiries.

The chief compliance officer role demands a versatile skill set for managing compliance effectively. This includes expert knowledge of regulations, sharp analytical abilities to assess risks, and excellent communication skills to engage with stakeholders. Leadership qualities are crucial to fostering a compliant culture, while strategic thinking and problem-solving navigate evolving challenges.

2. Compliance Director

The average annual U.S. salary of a compliance director is $121,865.

Compliance directors are primarily responsible for:

• Monitoring and interpreting changing regulations to ensure the organization's activities remain compliant.
• Creating and updating company policies to align with legal requirements and ethical standards.
• Identifying and evaluating potential compliance risks, and developing strategies to mitigate them.
• Providing training programs to educate employees about compliance policies and procedures.
• Conducting regular internal audits to assess the effectiveness of compliance measures and identify areas for improvement.
• Preparing and submitting compliance reports to regulatory bodies and management.
• Leading investigations into compliance breaches or violations, and taking corrective actions as needed.

The compliance director role requires a diverse skill set, encompassing adeptness in regulatory analysis, policy development, risk assessment and mitigation, strong communication and leadership abilities, proficient audit and investigative skills, and a deep understanding of ethical and legal frameworks. 

3. Risk Management Director

The average annual U.S. salary of a risk management director is $115,615.

Risk management directors are mainly responsible for:

• Identifying and evaluating potential risks that could impact the organization's objectives.
• Developing strategies and measures to minimize or eliminate identified risks.
• Establishing and enforcing risk management policies and procedures.
• Ensuring the organization complies with relevant regulations and standards.
• Monitoring the effectiveness of risk management efforts continuously.
• Providing accurate and timely risk assessment reports to senior management and stakeholders.
• Developing plans to address potential crises and emergencies.
• Collaborating with various departments to integrate risk management practices.
• Analyzing data to identify emerging risks and trends.

The position of a risk management director demands a skill set encompassing proficient risk assessment and mitigation abilities, expertise in policy formulation and regulatory compliance, strong analytical and data interpretation skills, effective communication and collaboration, crisis management proficiency, strategic thinking, and a commitment to fostering a risk-aware organizational culture.

4. Quality Assurance (QA) Manager

The average annual U.S. salary of a QA manager is $95,363.

QA managers are mainly responsible for: 

• Establishing and enforcing quality standards and guidelines for products or services.
• Identifying areas for process enhancement and implementing effective solutions.
• Conducting regular audits to ensure compliance with quality standards and regulations.
• Monitoring production processes to prevent defects and maintain consistent quality.
• Providing training to employees on quality protocols and best practices.
• Maintaining accurate records of quality tests, inspections, and improvements.
• Analyzing quality issues, determining root causes, and implementing corrective actions.
• Working with cross-functional teams to address quality concerns and drive improvements.

Quality assurance managers must be proficient in quality control processes, process improvement techniques, regulatory compliance, effective communication and leadership skills, attention to detail, data analysis, and commitment to continuous improvement in order to succeed. 

5. Internal Auditor

The average annual U.S. salary of an internal auditor is $79,218.

Internal auditors are mainly responsible for: 

• Identifying and evaluating potential risks within the organization's processes.
• Developing comprehensive audit plans to address specific areas of concern.
• Conducting thorough examinations of financial records and operational procedures.
• Ensuring adherence to laws, regulations, and internal policies.
• Analyzing financial and operational data for anomalies and irregularities.
• Providing actionable recommendations for process improvements and risk mitigation.
• Maintaining accurate records of audit findings and conclusions.
• Presenting audit results and insights to management and stakeholders.
• Assessing the effectiveness of internal controls and safeguards.
• Identifying potential instances of fraud or mismanagement.
• Evaluating the efficiency of operational processes and suggesting enhancements. 

The role of an Internal Auditor necessitates a skill set comprising sharp analytical abilities, proficiency in financial and operational analysis, knowledge of auditing principles and regulations, attention to detail, effective communication, strong documentation skills, critical thinking, problem-solving, ethical judgment, adaptability to changing environments, collaboration, and the capacity to provide actionable recommendations for process improvement and risk mitigation.

PECB ISO 37301 Compliance Management System Training Courses

The PECB ISO 37301 Compliance Management System training courses offer a comprehensive and practical learning approach to understanding and implementing the ISO 37301 standard for compliance management systems. These courses are designed to equip participants with the knowledge and skills required to effectively establish, manage, and enhance compliance processes within their organizations. 

Through expert-led instruction, interactive discussions, and real-world examples, participants will gain insights into the principles, requirements, and benefits of ISO 37301. From creating a culture of compliance to integrating compliance into business strategies, these courses cover key topics, such as risk assessment, performance evaluation, legal frameworks, and continuous improvement. 

Note: The salary information for the positions mentioned above has been sourced from Glassdoor. They are not definitive and they may change with time and industry development. 

CLICK TO SEE HOW PECB CAN HELP

About the Author

Vlerë Hyseni is the Digital Content Officer at PECB. She is in charge of doing research, creating, and developing digital content for a variety of industries. If you have any questions, please do not hesitate to contact her at: content@pecb.com.