What is a Compliance Admin?
A compliance administrator is a specialized role responsible for managing, monitoring, and ensuring adherence to regulatory, legal, and ethical standards. They work closely with compliance officers and other departments to oversee policies relating to legal violations.
These professionals also help reduce risks in areas like data protection, environmental regulations, financial reporting, and employee conduct. Admins often track compliance-related documentation, conduct regular reviews of policies, and implement corrective actions to address compliance gaps.
What are the responsibilities of a compliance administrator?
The responsibilities of a compliance admin may vary depending on the company’s industry and regulatory requirements but generally include:
- Implementing regulatory policies and internal standards that align with legal requirements.
- Planning and executing regular audits to identify any compliance gaps or risks. These include examining financial reports or ensuring adherence to anti-corruption laws.
- Handling documentation and record-keeping of employee training, audit outcomes, and non-compliance incidents.
- Design and deliver training programs to educate employees on policies related to their roles.
- Serving as the point of contact for external audits, regulatory inquiries, and internal investigations.
How to Become a Compliance Administrator
The qualifications to becoming a compliance administrator may vary, but generally requires:
- Education background: Most companies require a bachelor’s degree in fields like business administration, finance, law, and compliance management. It’s also ideal to be in specialized programs like those offered by the Society of Corporate Compliance and Ethics (SCCE) or the International Compliance Association (ICA).
- Relevant experience: It’s advantageous to gain experience in fields like regulatory affairs, risk management, or internal auditing. Experience with compliance standards (e.g. HIPPA in healthcare) can be particularly valuable.
- Certifications: Having a certification can demonstrate expertise and credibility. Some examples include the Certified Compliance and Ethics Professional (CCEP) or the Certified Regulatory Compliance Manager (CRCM), if you’re in the financial sector.
- Networking and continuing education: Joining professional organizations or attending compliance seminars can provide networking opportunities. Many admins also pursue advanced degrees or additional certifications as they progress in their careers.
What is the salary of a compliance admin?
The salary of compliance admins varies depending on factors such as location, industry, and level of experience. In the United States, the average annual salary ranges between $55,000 to $75,000 — with higher salaries for those in highly regulated sectors like finance and healthcare. Entry-level roles may start around $45,000, while senior compliance admins or those with specialized certifications can earn upwards of $85,000 annually.