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
- Collaborate with technical and operational personnel to refine and enforce compliance.
- Compile and evaluate regulatory submissions like reports, renewals, variations, maintenance logs, etc.
- Develop, disseminate, and enforce regulatory strategies, policies and guidelines.
- Conduct feasibility and user test cases to identify, resolve, or escalate problems.
Common Career Paths for Regulatory Compliance Manager
Regulatory Compliance Managers might see a strong upturn in salary after transitioning into upper-level roles such as Chief Compliance Officer, a seemingly popular career choice. People currently working in the latter position report a noticeably higher median income of $102K per year.
Compliance Manager Job Listings
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Popular Skills for Regulatory Compliance Manager
Regulatory Compliance Managers seem to require a number of specific skills. Most notably, skills in Legal Research, Program Management, Auditing, and Project Management are correlated to pay that is above average, with boosts between 6 percent and 10 percent. Those listing Safety Compliance as a skill should be prepared for drastically lower pay. Quality Assurance / Quality Control and Legal Compliance also typically command lower compensation. Most people who know Project Management also know Legal Compliance.
Pay by Experience Level for Regulatory Compliance Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
More years of relevant experience do not necessarily translate to higher paychecks. The median compensation for relatively untried workers is $73K; in the five-to-10 year group, it's higher at around $80K. On average, Regulatory Compliance Managers make $93K following one to two decades on the job. More than 20 years of experience mean a somewhat bigger median paycheck of $98K, but it's not much more than what less experienced people make.
Pay Difference by Location
For Regulatory Compliance Managers, Boston provides a pay rate that is 40 percent greater than the national average. Regulatory Compliance Managers can also look forward to large paychecks in cities like Philadelphia (+31 percent), Houston (+30 percent), New York (+21 percent), and Cleveland (+21 percent). Regulatory Compliance Managers in Louisville make 28 percent less than the national average, proving that location is a major factor in pay. Workers in Boise and Columbus earn salaries that trail the national average for those in this profession (26 percent less and 9 percent less, respectively).