Bank Compliance Officer Job Description

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The banking and financial industries have become volatile markets in the last couple of years. Other than the Great Depression, it was almost unheard of to imagine a bank or credit union going bankrupt. As a result of the volatile nature of the financial markets and the decrease in the public's trust in banks, now more than ever is it needed for banking institutions to ensure they are fully complying with rules and regulations in the financial industry. This is why the job role of a bank compliance officer was created. In terms of a bank compliance officer job description, this job is ideal for anyone who enjoys monitoring that the proper procedures are being carried out.

Job Description & Duties

It is the role of the bank compliance officer to be the bridge between the senior managers and the junior staff in developing a compliance model that everyone can follow. Therefore, expect to be working closely with senior managers to control how the bank is managing all of the compliance information set out by the relevant financial regulating body.

Bank compliance officers develop and manage all details of the compliance management program, which include planning, organizing, and controlling the daily lending and operational activities of the bank. Working closely with senior bank management, the compliance officer also takes an active leadership role on various committees and examinations.

The duties listed for a bank compliance officer employment description are quite varied. They are mainly in charge of ensuring compliance is carried out in all areas of the bank or credit union. The compliance should be in the way customers are handled, in the way staff complete daily tasks, the banking software used to process transactions, and overall how the bank deals with its day-to-day operations. This job role can have a bank compliance manager that the officer may report to.

Necessary Qualifications

This bank compliance officer job description should include the qualifications necessary for this role. Anyone applying for this job should have at least a bachelor's degree from an institution that is accredited by the government. The bachelor's degree should be in a field that is related to this type of work. For example, a degree in economics, business, finance, or accounting is often the most popular one. A master's degree would give someone a very competitive edge when applying for a role such as this. Some officers within this job role can also have specialized qualifications from the relevant professional bodies.

Environment For This Job Role

This job is usually completed at a bank or a credit union. It is mandatory that these financial institutions have someone to oversee banking compliance. As a result you can expect to be working either in a bank, credit union, or any other financial institution that is used by the general public for banking purposes. Based on the banking compliance officer job description, most officers will work a typical forty hour week, with either working Saturday or weekends off depending on the hours of the bank.

Growth in This Job Role

The growth in career prospects for a bank compliance officer continues to expand. There are numerous prospects involving growth by using either general banking courses or through specialization in different areas of banking. The financial world and the economy are joined in such a way that when the financial world is not doing well, usually the economy will follow close behind. However, with this job role there will always be a need for people who are compliance officers within the banking sector, or people who have specialized in certain areas of banking. Thus new jobs are being created in this area of banking. Therefore, anyone thinking of going into this field based on this bank compliance officer job description should find that the job search in this role is not impossible. Career growth and jobs can be found in this sector.


The compensation in this job role will differ depending on which area you reside in. As of 2010, you can expect a salary from $45,000 to $80,000. Some officers can get a salary as low as $40,000 to upwards of $100,000.

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