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Bank Compliance Officer Career Overview

A bank compliance officer works to make sure that all of the bank's lending, accounting, and investment practices adhere to state and federal regulations. Generally, these officers will have a bachelor's degree in a business-related field, and some supervisors must hold a master's degree. Read the following career overview to learn more.

Recommended Schools for Business Admin:

  • Strayer University

    • » Associate in Arts in Accounting
    • » Associate in Arts in Business Administration
    • » Bachelor of Business Administration: Banking Concentration
    • » Bachelor of Business Administration: Finance Concentration
    • » Bachelor of Science in Accounting

  • Capella University

    • » Bachelor: Accounting
    • » Bachelor: Business Administration
    • » Bachelor: Finance
    • » MBA: Accounting
    • » MBA: Finance

  • University of Phoenix

    • » Associate of Arts: Accounting
    • » Associate of Arts: Financial Services
    • » Associate of Arts: Foundations of Business
    • » Bachelor of Science: Business - Accounting
    • » Bachelor of Science: Business - Administration

  • Colorado Technical University

    • » Associate: Accounting
    • » Associate: Business Administration
    • » Bachelor: Business Administration
    • » Bachelor: Business Administration - Finance
    • » Bachelor: Financial Planning

  • American InterContinental University

    • » Associate of Arts - Business Administration
    • » Bachelor of Business Administration
    • » Bachelor of Business Administration - Accounting
    • » Bachelor of Business Administration - Finance
    • » Bachelor of Business Administration: Operations Management

Duties and Responsibilities of a Bank Compliance Officer

Bank compliance officers are bank supervisors whose job entails making sure that the bank's lending policies, financial transactions and commodities activities adhere to all state and federal regulations. These bankers are usually very knowledgeable about banking laws and ethics, and they are often very involved in the daily operations of their bank. Sometimes bank compliance officers have other roles within a financial institution, such as an overall manager. Sometimes the responsibilities of a bank compliance officer involve activities other than those that are strictly financial. Here are two sample job postings from Monster.com:

  • 'Facilitating and coordinating the bank compliance management program in New York; Reporting to the bank Compliance and Operational Risk Committee; Particular emphasis on coordinating issue management.' - Compliance
  • 'The individual is responsible for developing and maintaining, in cooperation with senior marketing managers, region-wide compliance programs, policies, procedures, plans and controls consistent with regulations and regulatory policy of the Americas.' - Investment Bank

Job Requirements

Most bank compliance officers have a bachelor's degree in economics, finance or a related degree. Increasingly, employers are requiring that these officers have a master's degree in business management, accounting or a similar field, as well. In order to find a position as a compliance manager, you'll need related work experience and a good track record. Additional job requirements for bank compliance positions are often stringent and could be similar to the following as contained in job samples from Monster.com:

  • 'BA/BS and 7 or more years of relevant experience required. Advanced degree preferred. Extensive knowledge of investment regulations.' - The Bank of New York Mellon
  • 'Demonstrated experience in interfacing with and communicating information on BSA - AML issues to senior management and business units; Strong working knowledge of BSA - AML regulations, more specifically in non-bank securities and investment business areas.' - Zions Bancorporation

Employment Outlook

The banking and financial industries are strongly tied to the overall health of the economy, so in times of economic downturn job seekers may have difficulty in obtaining positions. On the other hand, new regulations within the banking and investment industry have opened doors for bankers who have specific training and experience in bank compliance. The Bureau of Labor Statistics (www.bls.gov) states that the employment outlook for bank compliance officers should be about average. Officers who wish to work their way up to supervisory roles should plan on garnering as much relevant experiences in compliance and comptrolling as possible. The median salary for bank compliance officers is $81,880 per year.

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Strayer University

Strayer University responds quickly to information requests through this site.

Program suggestions:

  • Associate in Arts in Accounting,
  • Associate in Arts in Business Administration,
  • Bachelor of Business Administration: Banking Concentration,
  • Bachelor of Business Administration: Finance Concentration,
  • Bachelor of Science in Accounting

Academic fields:

Business Admin, Accounting and Record Keeping, Business Mgmt and Operations, Business Mgmt Economics, Entrepreneurship and Small Business Management, Finance...

Degree levels:

Certificate Courses, Certificate - Post-Degree Classes, Graduate Classes, Undergraduate
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Capella University

Capella University responds quickly to information requests through this site.

Program suggestions:

  • Bachelor: Accounting,
  • Bachelor: Business Administration,
  • Bachelor: Finance,
  • MBA: Accounting,
  • MBA: Finance

Academic fields:

Business Admin, Accounting and Record Keeping, Business Mgmt and Operations, Finance and Banking Classes, Banking Services Courses, Credit and Loan...

Degree levels:

Certificate - Post-Degree Classes, Graduate Classes, Undergraduate
Request Info

University of Phoenix

University of Phoenix responds quickly to information requests through this site.

Program suggestions:

  • Associate of Arts: Accounting,
  • Associate of Arts: Financial Services,
  • Associate of Arts: Foundations of Business,
  • Bachelor of Science: Business - Accounting,
  • Bachelor of Science: Business - Administration

Academic fields:

Business Admin, Accounting and Record Keeping, Business Administrative Services and Support, Business Mgmt and Operations, Human Resource Mgmt. Programs,...

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Certificate Courses, Graduate Classes, Undergraduate
Request Info

Colorado Technical University

Colorado Technical University responds quickly to information requests through this site.

Program suggestions:

  • Associate: Accounting,
  • Associate: Business Administration,
  • Bachelor: Business Administration,
  • Bachelor: Business Administration - Finance,
  • Bachelor: Financial Planning

Academic fields:

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Degree levels:

Graduate Classes, Undergraduate
Request Info

American InterContinental University

American InterContinental University responds quickly to information requests through this site.

Program suggestions:

  • Associate of Arts - Business Administration,
  • Bachelor of Business Administration,
  • Bachelor of Business Administration - Accounting,
  • Bachelor of Business Administration - Finance,
  • Bachelor of Business Administration: Operations Management

Academic fields:

Business Admin, Accounting and Record Keeping, Business Mgmt and Operations, Finance and Banking Classes, Banking Services Courses, Credit and Loan...

Degree levels:

Graduate Classes, Undergraduate
Request Info

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