Companies around the world say regulation and compliance risk is their No. 1 threat – a trend that hasn’t slowed down in the past several years. With a growing number of regulations cropping up in response to large federal undertakings like the Affordable Care Act and the Dodd-Frank Act, the compliance industry has become increasingly vital in helping companies understand and adapt to the new requirements.
The number of private sector compliance jobs increased by 122 percent over the past decade in the U.S., with an 18 percent increase in positions reported between 2009 and 2012, despite high unemployment nationwide. Industry officials have declared no end to the growth in sight, with firms reporting they will spend more to manage risk and compliance in the years ahead, driving up the demand for compliance professionals with advanced knowledge of regulations.
Compliance officers ensure that companies are following the law, but they do more than that. They work as creators and stewards of healthy organizational culture. Employment opportunities are found in the government, nonprofit and for-profit sectors. National reports demonstrate that demand for compliance expertise continues to exceed the pool of qualified professionals.
Read Dean Robert K. Vischer's article, "Training the Next Generation of Compliance Professionals," in the May 2014 edition of Compliance & Ethics Professional.