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Working as a compliance advisor can be both demanding and rewarding. Compliance advisor jobs require you to ensure an organisation is compliant with all relevant regulations and guidelines. The role can feature a variety of duties, and you will likely have to work across a variety of locations.
With compliance becoming increasingly important in business, a growing number of compliance advisor employers and jobs can be found in the UK. As such, the role offers excellent career opportunities and long-term stability. Read on to learn more about compliance advisor jobs, including expected salaries and career progression.
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Working as a compliance officer involves ensuring a company is fully compliant in everything it does in terms of industry and government regulations. The role is important as failure to comply with such regulations can results in large fines and even closure for some companies. Your main duties will be to review your employer’s processes, equipment and guidelines and make any recommendations and changes to ensure they meet all required regulations.
You may be working as part of a team or alone. Whilst specific duties will vary depending on the sector you are working in; general tasks are likely to include the following:
- Creating and performing risk assessments
- Creating and presenting reports to members of staff, including senior management
- Keep up to date with all relevant industry regulations and recommendations
- Educate employers on risk assessments and other areas, such as health & safety
The qualification requirements for compliance advisor jobs vary depending on the employer. Traditionally, there have been no formal education requirements for people working as a compliance advisor. However, as the role becomes more important, this has changed in some industries. Therefore, compliance advisor employers in some sectors, such as finance and engineering, may require you to have a university degree in a related area to theirs.
However, many people working as a compliance advisor still do so by working their way up to the position. You must be able to show compliance advisor employers your understanding of the role and the requirements that must be met. Skill sets that will help in compliance advisor jobs include:
- Strong ethical standards and determination
- Excellent attention to detail and ability to multi-task
- Strong written and spoken communications skills
- Confidence in own ability and expertise, even when pressured by others to change your mind
Compliance advisor jobs can have excellent career prospects. You will be in a position of authority and be expected to take the lead in all compliance-related issues. Most compliance advisor employers will provide full on the job training, enabling you to also gain valuable experience and skills, both of which can be used to further your career or used in different roles should you decide to change roles. Compliance advisor jobs are found across many sectors, and there continues to be a skills shortage in this role. This means there are many opportunities to start working as a compliance advisor and that long-term job security is also good.
Wages can vary significantly in this role, with factors such as industry, size of employer, your previous experience and qualifications and the location all affecting how much you will earn initially. Starting salaries for compliance advisor jobs are generally around £18,000 to £30,000. This will then rise as you develop further, with people working in senior-level compliance advisor roles earning anything up to £70,000.
Compliance advisor jobs can be a great way to develop a career in a promising and increasingly important role. Your work will be valued, and you will be helping to make a real difference to a company, including ensuring its employers and clients are kept safe. You will have opportunities to develop professionally and salaries are above the national average.
However, the role can be demanding. You will undertake a lot of responsibility and be expected to always keep up to date with industry regulations. You may also have to introduce and enforce unpopular processes. Long hours, tight deadlines and the lots of paperwork can also be negative issues related to compliance advisor jobs.