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Compliance Analyst: Job Description & Requirements

Compliance analysts, also known as compliance officers, work to ensure that the activities of their employing companies adhere to guidelines established by the government or non-profit agencies that regulate them. These professionals generally need bachelor's degrees and years of experience to obtain employment.

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Compliance Analyst Job Description

Exact responsibilities for a compliance analyst will vary depending on industry. In general, a compliance analyst plans and coordinates the operational activities of a given company or organization to guarantee compliance with governmental regulations and ordinances. Analysts are needed in nearly all types of settings, including corporations, government agencies, non-profits, hospitals, and schools.

Some specific duties for a compliance analyst may include ensuring that all policies and procedures are implemented and well documented, performing occasional internal reviews, and identifying compliance problems that call for formal attention. They also develop risk management strategies to avoid non-compliance and file compliance reports with regulatory bodies.

Compliance Analyst Educational Requirements

According to November 2013 CareerBuilder.com job listings for compliance analysts, employers tend to prefer applicants who hold bachelor's degrees in accounting, business, or related fields. Employers may also consider applicants who hold degrees related to the industries in which they work. For example, an analyst who works in the crop farming industry might hold a degree in agriculture. Employers also prefer candidates with at least three years of industry-specific experience.

Suggested Skills

Since compliance analysts often implement operational functions at the highest level of management, excellent communication, and writing skills are generally required. Also, familiarity with basic computer functions is necessary. Strong problem-solving and decision-making skills may prove beneficial as well.

Salary and Economic Outlook for Compliance Analyst

According to the U.S. Bureau of Labor Statistics (BLS), the mean annual wage earned by specialized types of managers, including compliance analysts, was $100,890 in May 2012 (www.bls.gov). The executive branch of the federal government was the greatest employer of these types of managers and paid a mean annual wage of $115,710. The BLS also reports that employment of specialty managers like compliance analysts was expected to grow at a slower-than-average rate from 2010-2020.

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Source: Bureau of Labor Statistics