Vice President, Compliance Officer Salary
The average salary for Compliance VPs in the United States is $114K annually, and pay runs especially high in Boston, where the average is $154K. Compliance VPs will also find cushy salaries in New York (+17 percent) and San Francisco (+14 percent). Figures cited in this summary are based on replies to PayScale's salary questionnaire.
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.
Vice President, Compliance Officer Job Listings
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Popular Employer Salaries for Vice President, Compliance Officer
Offering a median salary of only $120K, J.P. Morgan Chase & Co. (JPMCC) gives out the smallest paychecks. Furthermore, the earnings range of $81K to $174K isn't that wide, either.
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 Microsoft Word also typically command lower compensation. Those proficient in Microsoft Office are, more often than not, also skilled in Microsoft Excel.
Pay by Experience Level for Vice President, Compliance Officer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Individuals who have worked for fewer than five years report earning $111K on average, a generous six-figure sum for those just starting out. After working for 10 to 20 years, Compliance VPs make a median salary of $130K. Survey participants with more than twenty years of experience only make around $129K on average, though; this group reports a lower median than the one claimed by mid-career individuals.