Chief Risk and Compliance Officer

Career Guide
A Chief Risk and Compliance Officer leads the organization’s approach to managing risk and meeting legal and ethical obligations. The role sets policy, builds strong controls, advises the executive team and board, and ensures the company can grow while staying within accepted risk levels.

Key Responsibilities

  • Set the company risk and compliance strategy and priorities
  • Advise the CEO and board on major risk exposures and compliance matters
  • Build and maintain enterprise risk management practices
  • Oversee regulatory compliance programs and reporting
  • Design and enforce policies, standards, and codes of conduct
  • Lead investigations into misconduct and compliance breaches
  • Partner with legal to manage regulatory inquiries and examinations
  • Oversee internal controls and coordinate with internal audit
  • Own third party risk oversight for vendors and partners
  • Run risk assessments for new products, markets, and acquisitions
  • Deliver compliance training and communications
  • Track remediation plans and confirm issues are fixed and sustained
  • Lead crisis response planning for high impact risk events
  • Manage the risk and compliance team, budget, and tools

Top Skills for Success

Executive Communication
Stakeholder Management
Decision Making
Negotiation
Ethical Judgment
Program Leadership
Regulatory Knowledge
Corporate Governance
Risk Assessment
Policy Development
Control Design
Incident Management
Third Party Risk Management
Compliance Monitoring
Data Privacy
Cyber Risk Awareness
Reporting and Metrics

Career Progression

Can Lead To
Chief Risk and Compliance Officer
Chief Compliance Officer
Chief Risk Officer
Transition Opportunities
Chief Legal Officer
General Counsel
Chief Operating Officer
Chief Executive Officer
Board Member

Common Skill Gaps

Often Missing Skills
Board Level ReportingRisk Appetite SettingRegulatory Examination ReadinessControls Testing OversightThird Party Risk GovernanceData Privacy Program LeadershipCross Border Compliance ManagementRemediation Program ManagementRisk Technology Selection
Development SuggestionsBuild experience presenting to a board or audit committee, lead at least one enterprise wide risk assessment cycle, and own a major remediation effort from discovery through sustained testing. Strengthen credibility by partnering closely with legal, internal audit, security, and finance, and by developing clear metrics that show risk reduction over time.

Salary & Demand

Median Salary Range
Entry LevelRare title at entry level; typical pathway begins at Director level
Mid LevelUSD 220,000 to 350,000 base pay, plus bonus and equity depending on industry and company size
Senior LevelUSD 350,000 to 600,000 plus bonus and equity, with higher totals in financial services and large public companies
Growth Trend
Strong and steady demand, driven by stricter regulation, expanding data privacy requirements, cyber risk, and higher expectations from boards and regulators.

Companies Hiring

Major Employers
JPMorgan ChaseBank of AmericaCitigroupGoldman SachsMorgan StanleyWells FargoUnitedHealth GroupCVS HealthPfizerJohnson and JohnsonAmazonGoogleMicrosoftMetaWalmartTargetExxonMobilChevronBoeingLockheed Martin
Industry Sectors
BankingInsuranceAsset ManagementHealthcare ProvidersPharmaceuticalsMedical DevicesTechnologyEcommerceRetailManufacturingEnergyAerospace and DefenseTelecommunicationsTransportationConsumer Goods

Recommended Next Steps

1
Map the top ten risks for your organization and identify ownership, controls, and gaps
2
Create a simple risk dashboard with key metrics, trends, and remediation status
3
Review and refresh the code of conduct, core policies, and training plan
4
Run a tabletop exercise for a high impact scenario such as data breach or fraud
5
Assess third party risk coverage across onboarding, monitoring, and offboarding
6
Perform a compliance program gap review against current regulatory expectations
7
Define a clear escalation process for incidents and whistleblower reports
8
Strengthen partnerships with internal audit, legal, security, and finance
9
Benchmark compensation and reporting lines against peer organizations
10
Document a one year roadmap with measurable outcomes and resourcing needs