Is becoming a compliance manager right for me?
The first step to choosing a career is to make sure you are actually willing to commit to pursuing the career. You don’t want to waste your time doing something you don’t want to do. If you’re new here, you should read about:
Still unsure if becoming a compliance manager is the right career path? Take the free CareerExplorer career test to find out if this career is right for you. Perhaps you are well-suited to become a compliance manager or another similar career!
Described by our users as being “shockingly accurate”, you might discover careers you haven’t thought of before.
How to become a Compliance Manager
Becoming a compliance manager involves a combination of education, experience, and specific skills. Here's a guide to help you pursue a career in compliance management:
- Obtain a Relevant Bachelor's Degree: Most compliance managers hold a bachelor's degree in fields such as business, finance, accounting, law, or a related discipline. Some organizations may prefer candidates with specialized degrees in areas like compliance, ethics, or risk management.
- Gain Relevant Work Experience: Entry-level positions in areas such as auditing, risk management, finance, or legal services can provide valuable experience relevant to compliance management. Consider roles like internal auditor, compliance analyst, or legal assistant to gain a foothold in the field.
- Pursue Advanced Education (Optional): While not always necessary, obtaining a Master's Degree in Business Administration (MBA), Ethics, or a related field can enhance your qualifications and improve your chances of securing senior-level positions in compliance management. Some universities also offer specialized master's programs in compliance, ethics, or regulatory affairs.
- Develop Specialized Skills: Compliance managers need specific skills, including a deep understanding of regulations, excellent analytical skills, attention to detail, and strong communication and interpersonal abilities. Developing these skills will make you an attractive candidate for compliance management roles.
- Certifications (Optional): Pursuing certifications such as Certified Compliance & Ethics Professional (CCEP) or Certified Information Privacy Professional (CIPP) can enhance your credibility and demonstrate your expertise to employers (see below).
- Gain Industry Experience: Focus on gaining industry-specific experience. Different sectors (such as healthcare, finance, or manufacturing) have unique compliance requirements. Having experience in a specific industry can make you a more desirable candidate for compliance management roles within that sector.
- Network and Seek Internships: Networking within the compliance community can provide valuable insights and job opportunities. Consider seeking internships or volunteering in compliance-related roles to gain practical experience and expand your professional network.
- Pursue Entry-Level Compliance Positions: Apply for entry-level compliance positions within organizations. These roles often include titles like compliance analyst or compliance coordinator. Gain practical experience in these roles to build your expertise and advance in your career.
- Advance Your Career: As you gain experience, consider taking on roles with increasing responsibilities. With a few years of experience, you can aim for mid-level management positions, such as compliance officer or senior compliance analyst. Continuous professional development and a track record of successful compliance management can lead to becoming a compliance manager.
Certifications
There are several certifications available for compliance managers that can enhance their skills, knowledge, and credibility in the field of compliance management. Here are some reputable certifications that are widely recognized in the industry:
- Certified Compliance & Ethics Professional (CCEP): Offered by the Society of Corporate Compliance and Ethics (SCCE), the CCEP certification is designed for professionals working in compliance and ethics. This certification demonstrates expertise in compliance processes, ethical standards, and relevant regulations. It covers areas such as risk assessment, internal investigations, and compliance program development.
- Certified Regulatory Compliance Manager (CRCM): The CRCM certification, offered by the American Bankers Association (ABA), is specifically tailored for professionals in the banking and financial services industry. It focuses on regulatory compliance within the banking sector, covering areas such as lending, deposits, operations, and information technology. This certification is ideal for compliance managers working in financial institutions.
- Certified Information Privacy Professional (CIPP): Offered by the International Association of Privacy Professionals (IAPP), the CIPP certification is suitable for compliance managers who specialize in data protection and privacy. It covers various global privacy laws and regulations, including GDPR, HIPAA, and CCPA. Compliance managers dealing with data privacy issues can benefit significantly from this certification.
- Certified Fraud Examiner (CFE): The Certified Fraud Examiner certification, offered by the Association of Certified Fraud Examiners (ACFE), is ideal for compliance managers involved in fraud prevention and detection. It covers areas such as fraud investigation, fraud prevention, and deterrence, providing a comprehensive understanding of fraud-related issues.