Mutual Fund Compliance Professionals
Overview
Introduction
A mutual fund is a professionally managed investment pool that is sold to the public through the sale of shares representing an ownership interest. Compliance professionals ensure that mutual fund companies are in compliance with laws and regulations that have been established by the federal government (such as the Investment Company Act of 1940 and the Investment Advisers Act of 1940 and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010), state governments, and voluntary investor-protection organizations such as...
Quick Facts
Median Salary
Employment Prospects
Minimum Education Level
Experience
Skills
Personality Traits
Earnings
Chief compliance officers earned an average salary of $106,250, according to Robert Half’s 2020 Salary Guide: Accounting & Finance.
Chief compliance officers received average total compensation of $431,957 in 2017, according to a Management Practice survey of 66 mutual fund CCOs that represented funds with $2.9 trillion in assets. (Management Practice is an indepen...
Work Environment
Compliance professionals work in a typical—but fast-paced—business environment with standard work hours (Monday through Friday, 9 to 5). A small amount of travel is required to industry conferences and to board meetings. At a large firm, a chief compliance officer is assisted by a large staff. At a small firm, the CCO may have to work solo or only have a handful of assistants. This job can be s...
Outlook
Stricter government regulation of the financial services industry has created good job opportunities for compliance professionals. The Occupational Information Network predicts 4 percent to 6 percent (about as fast as average) employment growth for compliance managers through 2028. There were 1.08 million compliance managers employed in the U.S. in 2018, and about 91,300 new jobs are expected t...
