Compliance Officer

Compliance Officer job description

In the highly regulated world of financial services, the Compliance Officer plays a critical role in ensuring the organisation meets its legal, regulatory, and ethical obligations. This role provides assurance that internal policies and external regulatory requirements are adhered to across all business functions.

Compliance Officer duties and responsibilities of the job

Key responsibilities of a typical Compliance Officer in financial services include:

Monitoring and interpreting relevant regulatory developments (e.g., ASIC, APRA, AML/CTF) and assessing their impact on the business

Developing, implementing, and maintaining effective compliance policies, procedures, and controls

Conducting regular compliance reviews and internal audits to assess adherence to standards and identify potential risks

Providing guidance to business units on regulatory requirements and supporting the resolution of compliance-related queries

Maintaining a regulatory change register and coordinating the business response to significant changes (e.g., DDO, FAR, CPS 230)

Preparing and delivering compliance training to ensure employee awareness and understanding of obligations

Investigating compliance breaches, incidents, or complaints, and preparing reports with recommendations for remediation

Liaising with regulatory bodies and assisting with the preparation of submissions and reports

Assisting in the implementation of risk mitigation strategies and supporting ongoing risk assessments

Maintaining accurate records of compliance activities, obligations, and findings

This role is ideal for detail-oriented professionals with a strong understanding of financial services regulations, excellent communication skills, and a commitment to maintaining the integrity and reputation of the business.

Typical Compliance Officer job qualifications and requirements

A degree in law, finance, business, or a related field is essential, along with experience in compliance or risk management within the financial services sector. Professional certifications such as CCRP, ICA, or CAMS are highly valued.

Key skills and attributes for success in this role include:

Strong knowledge of regulatory frameworks (e.g. APRA, ASIC, AML/CTF regulations)

Experience developing and implementing compliance policies and procedures

High attention to detail and strong analytical skills

Ability to interpret complex legislation and regulatory guidance

Excellent organisational skills with the ability to manage multiple priorities

Strong written and verbal communication skills

Confidence in engaging with internal stakeholders and external regulators

Understanding of financial products and services relevant to the business

Experience with breach reporting and regulatory submissions (e.g. ASIC breach reports)

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Salary for Compliance Officer

83000 - 127000

25th Percentile

83000

The candidate has little or no prior experience in the position and is still developing relevant skills.

50th Percentile

107000

The candidate has an average level of experience and has most of the necessary skills.

75th Percentile

127000

The candidate has above-average experience, has most or all the necessary skills and may have specialised qualifications.

Salary range based on three percentiles The starting salaries represent gross yearly salaries. They do not include bonuses, benefits or superannuation.

Projected salaries for related positions

Position title

25th Percentile

50th Percentile

75th Percentile

Compliance Manager

136000

146500

161000

Senior Compliance Manager

155500

171000

195000

Head of Compliance

184000

224500

273000

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