For entry-level positions, you’ll need to complete a compliance-related internship or participate in a co-operative educational experience during college. This can be at a wealth management firm, in the compliance department of a corporation, or at a regulator such as the Securities and Exchange Commission. To become a chief compliance officer (CCO), you will need five to 10 years of compliance experience; at least half of this time should be in a managerial position. Some wealth management firms prefer to hire CCOs who have law degrees.
A successful compliance professional has a good understanding of his or her firm’s business and its financial products, expertise in federal and state securities laws, and the ability to assess risks that may affect the firm’s ability to comply with these laws. Compliance workers must be excellent communicators because they frequently interact with wealth managers, risk managers, government regulators, and their fellow compliance professionals. Strong analytical and problem-solving skills are necessary to identify and mitigate areas of risk. Other important traits include first-rate organizational skills, personal integrity, curiosity, creativity, good presentation skills, excellent judgment, a detail-oriented personality, and the ability to work both independently and as a member of a team.
- Chief Information Officers
- Financial Quantitative Analysts
- Tax Managers
- Wealth Management Accountants
- Wealth Management Analysts
- Wealth Management Associates
- Wealth Management Investor Relations Specialists
- Wealth Management Lawyers
- Wealth Management Managing Directors
- Wealth Management Risk Managers
- Wealth Management Vice Presidents
