Vice President, Compliance Officer Salary
Median pay for Compliance VPs in the United States is around $116K annually. Total cash compensation to Compliance VPs approaches anywhere from $72K on the lower end to $197K on the higher end; in exceptional cases, this can include more than $36K from bonuses and upwards of $32K from profit sharing. The most important factor affecting compensation for this group is geographic location, followed by experience level and the particular employer. Women make up a slight majority of Compliance VPs (54 percent) survey respondents. Most Compliance VPs like their work and job satisfaction is high. Medical benefits are awarded to nearly all, and most earn dental coverage. Respondents to the PayScale salary survey provided the data for this report.
|Salary||$68,322 - $171,423|
|Bonus||$1,989 - $36,071|
|Profit Sharing||$0.00 - $32,362|
|Total Pay (||$71,694 - $196,996|
Job Description for Vice President, Compliance Officer
A vice president (compliance officer) is ultimately responsible for a company's corporate compliance program. They are tasked with maintaining an independent body within the company that helps determine if the company is in compliance with laws, regulations, and company bylaws. The vice president of compliance must determine if the company's board of directors and executives are fulfilling their required duties. They also lead efforts to determine if the behavior and decisions of the board and executives fulfill the fiduciary duties owed to the company. If the vice president of compliance and the corporate compliance team determine that a duty was breached by a board member or executive, then the vice president of compliance takes the necessary corrective actions. If the issue can be easily solved, then the vice president of compliance presents a report to the governing body of the company so that corrective action can be taken. If it cannot, then the vice president of compliance works out a legal strategy for the company to minimize loss and risk.Read More...
The vice president of compliance also examine other departments and members of the company. For example, the vice president of compliance often reviews the policies, procedures, and actions of the company's human resources department to ensure that the company is complying with federal and state employment laws.
Vice presidents of compliance are usually legal professionals (with a law degree and state licensing) that have several years of experience in a related experience. They must be strong communicators who are capable of paying attention to fine detail. Most vice presidents of compliance work in an office setting during regular business hours, but they may be required to travel to analyze different business operations.
Vice President, Compliance Officer Tasks
- Oversee organization to ensure laws, regulations, and internal policies are met.
- Review and verify accuracy of all compliance documentation.
- Inform all levels of organization about current and future compliance.
- Keep all policies up to date with current legislation and environment.
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Popular Skills for Vice President, Compliance Officer
Survey results suggest that Compliance VPs put a wide range of professional skills to use. Most notably, skills in Risk Management / Risk Control, Legal Compliance, Regulatory Compliance, and Microsoft Office are correlated to pay that is above average. Those listing Microsoft Excel as a skill should be prepared for drastically lower pay. Anti-Money Laundering and Windows Operating System General Use also typically command lower compensation. For most people, competency in Microsoft Office indicates knowledge of Microsoft Excel.
Pay by Experience Level for Vice President, Compliance Officer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and pay tend to be weakly linked for Compliance VPs — those with more experience do not necessarily bring in higher earnings. Annually raking in $111K, the average professional in this position sees a six-figure salary within the first five years. On average, Compliance VPs make $131K following one to two decades on the job. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $133K.
Pay Difference by Location
Compliance VPs will find that San Francisco offers an impressive pay rate, one which exceeds the national average by 37 percent. Compliance VPs will also find cushy salaries in Boston (+23 percent) and New York (+15 percent). Compliance VPs in Atlanta report much lower salaries than the rest of the country — 37 percent below the national average — proving that residence is a major factor in overall pay. Not at the bottom but still paying below the median are employers in Houston and Los Angeles (19 percent lower and 14 percent lower, respectively).
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Key Stats for Vice President, Compliance Officer
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