Career Path-Compliance Professional

Compliance Professional

Compliance Officer Compliance Professionals ensure management and personnel are complying with the company’s policies and procedures, as well as applicable laws and regulations. A strong compliance program is an essential component in identifying and mitigating the risk of fraud.

Benefits of the CFE Credential
Job Description
Education
Knowledge, Skills and Abilities
Compensation
Resources

Benefits of the CFE Credential

The CFE credential provides Compliance Professionals with the knowledge to detect and deter fraud by ensuring the organization and its employees are in compliance with all fraud-related regulations and laws and that the organization's compliance program adheres to anti-fraud best practices. The CFE credential is preferred by many employers, and candidates who have earned it are looked to as leading experts in the anti-fraud field.

The ACFE’s global salary study found that CFEs earn a 9.6 percent income premium over their peers without the credential, which demonstrates the value employers place on the credential. The study also provides valuable information and comparisons helpful to all anti-fraud professionals in benchmarking their compensation levels and career growth. The training, fraud resources and continuing education provided by the ACFE will help in any stage of your career path. Refer to the Compensation section below for more information about the compensation ranges for governance, risk and compliance professionals.

Job Description

Individuals working in the compliance function plan, administer, maintain and implement procedures and policies to manage the risk of non-compliance and to deter and detect fraud. They verify that departments in a company are in compliance with organizational policies and procedures, and that the company is in compliance with all applicable laws and regulations. If a company is in violation, compliance officers must address the violations and implement and monitor corrective actions. The compliance function of a company can fall under many different titles, some of which include:

Compliance Specialist

Compliance Analyst

Compliance Manager

Director of Corporate Compliance

Chief Compliance Officer

Education

A bachelor’s degree in law, business administration, accounting, finance or another related field is usually required. A master’s degree is preferred. Professional certifications for compliance officers include the Certified Fraud Examiner (CFE), Certified Compliance and Ethics Professional (CCEP), Certified Risk and Compliance Management Professional (CRCMP), Certified Regulatory Compliance Manager (CRCM) and the Certified Bank Compliance Officer (CBCO).

Knowledge, Skills and Abilities

It is important to plan and conduct an honest self-assessment of your knowledge, skills and abilities. In particular, employers are looking for:

Knowledge

Laws, regulations and standards

Ethical business behavior

U.S. Sentencing Guidelines

Risk management

Governance

External and internal audits

Skills

Technical

Decision-making

Judgment

Abilities

Leadership

Analytical

Written communication

Verbal communication

Interpersonal communication

Public speaking

Ability to problem solve

Integrity

Organization

Attention to detail

Timeliness

Compensation

Below are compensation ranges by several different governance, risk and compliance positions taken from the 2010/2011 Compensation Guide for Anti-Fraud Professionals:

ACFE - Association of Certified Fraud Examiners

Compliance Professional

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