Regulatory Compliance Manager Salary
Job Description for Regulatory Compliance Manager
Organizations' employees must adhere to internal guidelines, and the organization must conform to governmental regulations as well. The regulatory compliance officer is in charge of ensuring those rules are known and followed. These managers may work for a specific organization or for a government agency; their duties may vary depending on the position. However, basic duties include conducting consistent and/or random monitoring to inspect an organization's operations, assess how compliant these operations are with rules and regulations, and offer feedback to those being inspected and those in charge so that appropriate changes may be made. Compliance officers also examine reports of activities that may indicate non-compliance and follow up on them. They complete reports for their employer as well, and they may be required to make formal presentations to managers. Regulatory compliance officer's must have a thorough understanding of the regulations related to their hiring organization; they must keep up to date on changes to those rules as well.Read More...
Requirements for regulatory compliance manager positions vary by employer. A bachelor's degree in a related field may be required; a law degree may be required as well. Previous experience in a similar position is generally required or preferred. Regulatory compliance managers must pay strong attention to detail, have excellent problem solving skills, and be able to assess situations and departments objectively.
Regulatory Compliance Manager Tasks
- Develop, disseminate, and enforce regulatory strategies, policies and guidelines.
- Conduct feasibility and user test cases to identify, resolve, or escalate problems.
- Collaborate with technical and operational personnel to refine and enforce compliance.
- Compile and evaluate regulatory submissions like reports, renewals, variations, maintenance logs, etc.
Common Career Paths for Regulatory Compliance Manager
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Popular Skills for Regulatory Compliance Manager
Regulatory Compliance Managers report using a wide range of professional skills. Most notably, skills in Legal Research, Program Management, Project Management, and Legal Compliance are correlated to pay that is above average, with boosts between 5 percent and 9 percent. Those listing Safety Compliance as a skill should be prepared for drastically lower pay. Quality Assurance / Quality Control and Requirements Analysis also typically command lower compensation. Those proficient in Project Management are, more often than not, also skilled in Legal Compliance.
Pay by Experience Level for Regulatory Compliance Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Regulatory Compliance Managers with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Relatively untried employees who have less than five years' experience have a median salary of $72K. Those who have been around for five to 10 years can expect to take home more — $80K on average. Regulatory Compliance Managers see a median salary of $92K after reaching one to two decades on the job. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $102K.
Pay Difference by Location
For Regulatory Compliance Managers, San Diego provides a pay rate that is 48 percent greater than the national average. Regulatory Compliance Managers will also find cushy salaries in Philadelphia (+31 percent), Boston (+29 percent), New York (+26 percent), and Houston (+21 percent). Regulatory Compliance Managers in Louisville report much lower salaries than the rest of the country — 29 percent below the national average — proving that residence is a major factor in overall pay. Employers also pay below the national average in Boise (26 percent lower) and Los Angeles (6 percent lower).
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Key Stats for Regulatory Compliance Manager
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