Does a role in compliance top your list of career aspirations? With issues like data privacy, cyber security, and ESG sitting front-of-mind for many businesses, compliance managers are more in-demand than ever.
Robert Half Practice Manager Thomas Durkin has helped dozens of professionals secure compliance jobs over the years. He shares tips and advice on how to get a job in compliance, what a compliance manager job description looks like, how much you could earn, and where you could take your career in future.
Inside the compliance manager job description
Compliance managers are responsible for ensuring their organisation adheres to laws and regulations. These can include GDPR (General Data Protection Regulation), the Data Protection Act (DPA), the Bribery Act, ESG policies, and other sector-specific regulations.
As a compliance manager, you'll develop, maintain, and update internal policies and procedures on behalf of the company. You'll also be responsible for training staff and helping to foster a culture of compliance within the business. Compliance managers conduct regular audits and are responsible for investigating and reporting any breaches to the relevant regulatory bodies.
Compliance managers usually work within the company’s compliance and risk team but can also work as part of the legal team. As managers, they typically sit within the middle or senior management tier, below C-suite executives. In most cases, the compliance manager reports to the Chief Compliance Officer (CCO) or the Chief Executive Officer (CEO).
“The role of a compliance professional is a key position in any organisation but none more so than in highly regulated sectors such as financial services,” says Thomas.
“The compliance officer's duty is to keep their respective business safe from external and internal risks. Great compliance officers work with business leaders to create a set of controls, policies, and procedures that protect the firm from risks but also allow the business to move freely and maintain a competitive edge.”
Tasks and responsibilities include:
- Developing and implementing policies and procedures to ensure compliance with laws and regulations
- Preparing and submitting regulatory paperwork
- Leading and managing the compliance team
- Conducting audits and investigations
- Identifying compliance risks and developing mitigation strategies
- Developing and running staff training programmes
- Liaising with various external regulatory bodies
- Advising the business on compliance matters
- Creating and maintaining records and documentation
How to get a job in compliance
The best way to secure a compliance manager role is to ensure you have the right qualifications, experience, and skills behind you. A degree in law, accounting, or business is helpful, alongside industry qualifications like the Certified Compliance and Ethics Professional (CCEP) certification.
The necessary qualifications differ depending on the sector you choose to work in — each industry has its own standards, laws, and regulations. Because of this, it's better to select a specialism and train specifically for it.
Having several years of compliance or legal experience on your CV is also helpful. You can set your career on the right trajectory by taking an entry-level position as an analyst or a related junior compliance or legal role.
“The most obvious route to a compliance manager level position as a graduate is to get a job as a compliance analyst or compliance assistant,” says Thomas.
“The compliance career path has evolved hugely over the last 10 years and is now a very attractive sector to work in. The most opportunity for compliance professionals is in highly regulated sectors such as financial services and pharmaceuticals. Once you’ve established yourself as a compliance analyst, you could expect to promote to a manager-level role in around four or five years.
“To promote from a compliance analyst position to a compliance manager level role, you’ll need to demonstrate not only a great technical understanding of your current duties but also the ability to impart this knowledge to the more junior compliance team members,” says Thomas.
“Ultimately, you need to gain further visibility in the company as an SME. One idea to help this is asking to have more involvement in training sessions with other employees from the wider business,” he advises.
“As a compliance manager, you need to be visible within your company and be a great ambassador. Compliance is all about adoption — getting employees to do the right thing and follow the controls, policies, and procedures set by the compliance department. This is far easier to achieve if everyone is aligned to the vision.”
Compliance manager qualifications:
- Certified Compliance and Ethics Professional (CCEP)
- Advanced Certificate in Compliance
- Certificate and Diploma in Anti Money Laundering
- Certificate in Financial Crime Awareness
Soft skills:
- Fastidious attention to detail
- Team collaboration
- Strong leadership skills
- Excellent communication skills
- Problem-solving skills
- Strong ethics and values
- Ability to work well under pressure
The average compliance manager salary in the UK
According to research for the Robert Half 2023 Salary Guide, the national midpoint salary for a compliance manager in the UK is £78,250. Entry-level compliance manager roles typically offer an average of £86,010, and senior professionals with extensive experience can hope to command £116,815 per year.
The highest salaries are in London, where professionals are getting an average of £95,465 — a 22% increase on the national midpoint due to London’s status as a prominent financial hub of Europe.
You can increase your earning potential as a compliance manager by training into the most in-demand skills for 2023. Our research shows employers are looking for professionals with GDPR and tech experience.
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Future career prospects for compliance managers
You can take your career as a compliance manager in several directions, depending on your salary goals and which areas of the role interest you most.
You can move up the corporate ladder and aim for a Chief Compliance Officer (CCO) position. The CCO sits on the executive team and is the leading subject matter expert on all matters relating to risk and compliance within the business. In addition, they're responsible for guiding compliance teams, advising the leadership team and the board, and overseeing the entire compliance work plan for the business.
You could also move into a role within risk management, which focuses on identifying and mitigating risks across different areas of the business. If you enjoy risk management, you could also consider side-stepping into a business continuity and disaster recovery career.
“If you decide the lofty heights of CCO are not for you, or you don’t want the responsibility of holding control functions, then you may want to consider going into a consulting role,” says Thomas.
“Different companies will leverage your experiences to guide their efforts for a robust compliance programme. You’ll gain more exposure in a consulting role across a variety of businesses and different compliance programmes.”
For more career and salary guidance, visit the Robert Half advice blog or download your free 2023 Salary Guide. Are you ready to start browsing compliance roles? Find our latest vacancies online here.
