Benefits of the CFE CredentialThe 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. Candidates who have earned their CFE credentials are regarded as leading experts in the field, making them more attractive to many employers.
The ACFE’s Global Salary Study found that CFEs earn a 17% 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 Association of Certified Fraud Examiners (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.
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, then implement and monitor corrective actions.
The compliance function of a company can be associated with many different titles, some of which include:
- Compliance Specialist
- Compliance Analyst
- Compliance Manager
- Director of Corporate Compliance
- Chief Compliance Officer
EducationA 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).
Knowledge, Skills and Abilities
It is important to plan and conduct an honest self-assessment of your knowledge, skills and abilities. Particularly employers are looking for:
|Laws, Regulations and standards||Technical||Leadership|
|Ethical business behavior||Decision-making||Analytical|
|U.S. Sentencing Guidelines||Judgement||Written communication|
|Risk management||Verbal communication|
|External and internal audits||Public speaking|
|Ability to problem solve|
|Attention to detail|
Income level varies depending on education, experience and certifications. Download the 2022 Compensation Guide for Anti-Fraud Professionals, which benchmarks salary and benefits across several categories for anti-fraud professionals around the world.