Have You Considered a Compliance and Ethics Career?

Written by ArticleCafe.NET

The compliance and ethics field encompasses how people act in large organizations, and how to keep those organizations out of trouble. At the root, we must recognize that organizations act in ways different from individuals, and that individuals in organizations do things that they would not do if acting alone. Those of us working in the field of ethics and compliance seek to prevent organizational misconduct and to protect those who can be harmed by it. Elements of the field have existed for decades in companies' handling of a variety of legal, ethical and reputational risks, in such areas as advertising, antitrust, off-the-book accounts, discrimination, financial statements, harassment, labor, privacy, purchasing, and more. But the field really began to take shape with the advent of the U.S. Sentencing Guidelines for organizations. The guidelines helped to shape the development of compliance programs and to prevent a stove-pipe approach, as well as encouraged judges to give breaks to companies and other organizations that set up "effective" compliance programs. The field of compliance and ethics has formed in response, and it demands motivated and experienced professionals. Why should you go into this field? There are both practical and personal reasons you will find the field appealing. On the practical side, good compliance opportunities exist everywhere. Every large organization needs compliance people, including blue-chip companies. Compliance is a wide-open field, drawing professionals from countless backgrounds. Of course, there are positions best suited to people with certain experience. Of particular interest to a trained accountant may be positions such as Compliance Accountant, Finance Compliance Education Coordinator, and Senior Financial Compliance Analyst -- not to mention countless Sarbanes-Oxley-based positions. As for advancement and mobility, compliance may not be the best path to the top (CEO), but the top compliance position is typically an executive-level position (Chief Compliance/Ethics Officer). Many in this field have moved outside and become entrepreneurs, starting their own compliance provider service. Others may have found themselves in high demand as chief financial officers and general counsels, particularly at companies with compliance problems and scandals. Compensation is another factor to consider. A recent study by the Ethics and Compliance Officer Association (ECOA), performed in conjunction with Salary.com, found the median annual salary for many positions, including: Top Global Ethics and Compliance Officer: $206,800 Top Domestic Ethics and Compliance Officer: $180,600 Corporate Manager, Ethics and Compliance: $120,000 Salary will vary according to industry and experience. Perhaps more importantly, personal reasons are often cited as the primary motivators behind a move into a compliance career. Compliance people are commonly heard to say, "In the compliance and ethics field, we have the knowledge that we have spent our day trying to do the right thing." Still working to help the company succeed, compliance people know that their efforts help prevent harm, protecting all stakeholders, such as executives, employees, and shareholders. Another appealing aspect of the field is the people working in it. Compliance and ethics is an open field, where the model relies on the sharing of best practices and consulting with one another about our experiences. It is a great source of strength -- compliance people always have someone to turn to when facing a problem.