Vice President, Compliance Officer Salary
Average Compliance VPs in the United States make around $114K per year. Total cash compensation to Compliance VPs approaches anywhere from $73K on the lower end to $199K on the higher end; in exceptional cases, this can include more than $36K from bonuses and upwards of $20K from profit sharing. The most important factor affecting compensation for this group is location, followed by tenure and the individual firm. Medical benefits are awarded to almost all, and a large number earn dental coverage. Women Compliance VPs who took the survey just slightly outnumber men. Most Compliance VPs report high levels of job satisfaction.
|Salary||$69,592 - $172,325|
|Bonus||$2,004 - $36,224|
|Profit Sharing||$0.00 - $19,574|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$72,983 - $199,434|
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. (Copyright 2017 PayScale.com)
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 imply that Compliance VPs put a diverse skill set to use. Most notably, facility with Risk Management / Risk Control and Legal Compliance are correlated to pay that is significantly above average, leading to increases of 22 percent and 6 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Anti-Money Laundering, Microsoft Excel, and Microsoft Word. Those familiar with Microsoft Office also tend to know Microsoft Excel.
Pay by Experience Level for Vice President, Compliance Officer
Pay by Experience for a Vice President, Compliance Officer has a positive trend. An entry-level Vice President, Compliance Officer with less than 5 years of experience can expect to earn an average total compensation of $110,000 based on 74 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Vice President, Compliance Officer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $117,000 based on 127 salaries. An experienced Vice President, Compliance Officer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $130,000 based on 217 salaries. A Vice President, Compliance Officer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $135,000 based on 94 salaries.
Pay Difference by Location
With a pay rate for Compliance VPs that is 102 percent greater than the national average, Washington offers a comfortable salary for those in this profession. Compliance VPs will also find cushy salaries in Philadelphia (+59 percent), San Francisco (+40 percent), Boston (+24 percent), and New York (+18 percent). Compliance VPs in Atlanta report much lower salaries than the rest of the country — 36 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 (18 percent lower and 11 percent lower, respectively).
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