Vice President, Compliance Officer Salary
For Compliance VPs, annual average wages total $115K per year. Including potential for bonuses and profit sharing — peaking near $37K and $20K, respectively — total cash payment to Compliance VPs can bottom out near $73K or peak near $200K depending on individual performance. Location is the main element affecting pay for this group — experience level and the specific company are driving factors as well. Women make up a slight majority of Compliance VPs (56 percent) survey respondents. The majority of Compliance VPs claim high levels of job satisfaction. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
|Salary||$69,510 - $173,111|
|Bonus||$2,004 - $36,781|
|Profit Sharing||$0.00 - $20,426|
|Total Pay (||$72,643 - $200,490|
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
Compliance VPs report using a diverse set of skills on the job. 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 Anti-Money Laundering as a skill should be prepared for drastically lower pay. Microsoft Excel and Microsoft Word also typically command lower compensation. It is often found that people who know Microsoft Office are also skilled in 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
Washington is home to an above-average pay rate for Compliance VPs, 98 percent higher than the national average. Compliance VPs will also find cushy salaries in Philadelphia (+57 percent), San Francisco (+38 percent), Boston (+22 percent), and New York (+16 percent). Compliance VPs in Atlanta make 37 percent less than the national average, proving that location is a major factor in pay. Not at the bottom but still paying below the median are employers in Houston and Los Angeles (19 percent lower and 13 percent lower, respectively).
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Key Stats for Vice President, Compliance Officer
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