Corporate Compliance Coordinator in New York Career Overview

As a Corporate Compliance Coordinator, you play a significant role in ensuring that your organization adheres to regulatory requirements and internal policies. Your responsibilities encompass a variety of tasks designed to uphold ethical standards and reduce risks related to non-compliance.

Key aspects of the role include:

  • Policy Development: You assist in creating and updating corporate compliance policies, making sure they align with local, state, and federal regulations.

  • Compliance Monitoring: Regular monitoring and audits are part of your duties. You evaluate company practices, identify areas for improvement, and ensure that compliance measures are effectively implemented.

  • Training and Education: You help design and facilitate training sessions for employees, raising awareness about compliance issues and promoting a culture of integrity within the organization.

  • Reporting and Documentation: You maintain thorough records of compliance activities, prepare reports for management, and help communicate findings and recommendations for corrective actions.

  • Regulatory Liaison: Serving as a point of contact for regulatory agencies, you manage inquiries and ensure that the organization responds promptly to any compliance-related issues.

Your contributions help mitigate risks, promote ethical practices, and build trust with stakeholders, making your role essential within the corporate structure. As businesses navigate a complex regulatory environment, Corporate Compliance Coordinators are increasingly valued for their expertise in maintaining organizational integrity.

Corporate Compliance Coordinator Salary in New York

Annual Median: $154,170
Hourly Median: $74.12

Data sourced from Career One Stop, provided by the BLS Occupational Employment and Wage Statistics wage estimates.

Required Education To Become a Corporate Compliance Coordinator in New York

To become a Corporate Compliance Coordinator, you will need specific educational qualifications and training. Generally, a bachelor’s degree is the minimum requirement for this role. Consider pursuing one of the following degree programs:

  • Business Administration and Management: This program provides a broad understanding of business operations and management practices, equipping you with the skills needed for compliance-related tasks.

  • Business Administration: A degree in Business Administration covers essential business principles and practices, offering you a solid foundation for understanding corporate compliance frameworks.

  • Business Law: This field of study focuses on legal principles and regulations affecting businesses, making it particularly relevant for those interested in compliance.

  • Business Management: A focus on management strategies and organizational behavior in this program prepares you to implement compliance policies effectively within an organization.

  • Business/Managerial Economics: This degree emphasizes economic principles and their application in real-world business scenarios, helping to inform compliance decisions and strategies that align with economic factors.

In addition to a degree, some employers may prefer candidates who have pursued further certification in compliance or related areas. Be sure to explore relevant courses, internships, or workshops that can enhance your qualifications in corporate compliance.

Best Schools to become a Corporate Compliance Coordinator in New York 2024

#1Maricopa County

University of Phoenix-Arizona

Phoenix, AZ

In-State Tuition:$9,552
Out-of-State Tuition:$9,552
Admission Rate:N/A
Graduation Rate:18%
Total Enrollment:88,891
#2Merrimack County

Southern New Hampshire University

Manchester, NH

In-State Tuition:$15,000
Out-of-State Tuition:$15,000
Admission Rate:96%
Graduation Rate:41%
Total Enrollment:164,091
#3Salt Lake County

Western Governors University

Salt Lake City, UT

In-State Tuition:$7,404
Out-of-State Tuition:$7,404
Admission Rate:N/A
Graduation Rate:49%
Total Enrollment:156,935
#4El Paso County

Colorado Technical University-Colorado Springs

Colorado Springs, CO

In-State Tuition:$12,036
Out-of-State Tuition:$12,036
Admission Rate:N/A
Graduation Rate:20%
Total Enrollment:24,808
#5Maricopa County

Grand Canyon University

Phoenix, AZ

In-State Tuition:$16,407
Out-of-State Tuition:$16,407
Admission Rate:78%
Graduation Rate:45%
Total Enrollment:101,816
#6Lynchburg City

Liberty University

Lynchburg, VA

In-State Tuition:$15,467
Out-of-State Tuition:$15,467
Admission Rate:99%
Graduation Rate:66%
Total Enrollment:96,709
Corporate Compliance Coordinator Job Description:
  • Plan, direct, or coordinate activities of an organization to ensure compliance with ethical or regulatory standards.

Corporate Compliance Coordinator Required Skills and Competencies in New York

  • Regulatory Knowledge: You should have a thorough understanding of relevant laws, regulations, and guidelines that impact your industry. This includes knowledge of federal, state, and local compliance requirements.

  • Attention to Detail: Possessing strong attention to detail is essential for identifying discrepancies or risks in compliance processes, policies, and documentation.

  • Analytical Skills: Being able to analyze data and processes critically will allow you to assess compliance effectiveness and recommend necessary improvements.

  • Communication Skills: You must be adept at both verbal and written communication to effectively convey compliance policies and procedures, as well as to collaborate with various stakeholders.

  • Problem-Solving Abilities: You should be skilled in identifying problems and developing actionable solutions, particularly when compliance issues arise.

  • Project Management: Strong organizational skills and the ability to manage multiple tasks and projects concurrently will help you maintain compliance initiatives effectively.

  • Interpersonal Skills: Building relationships across departments is important for promoting a culture of compliance within the organization.

  • Ethical Judgment: You need to possess a strong sense of integrity and ethical judgment, ensuring that the company's compliance activities align with its values.

  • Technical Proficiency: Familiarity with compliance management software, data analysis tools, and basic IT skills will enhance your ability to perform your job efficiently.

  • Training and Presentation Skills: Being able to develop and deliver training sessions on compliance topics can help reinforce the importance of compliance throughout the organization.

Job Duties for Corporate Compliance Coordinators

  • Discuss emerging compliance issues to ensure that management and employees are informed about compliance reporting systems, policies, and practices.

  • Identify compliance issues that require follow-up or investigation.

  • Report violations of compliance or regulatory standards to duly authorized enforcement agencies as appropriate or required.

Technologies and Skills Used by Corporate Compliance Coordinators

Compliance software

  • Actimize Brokerage Compliance Solutions
  • Thomson Reuters Paisley Enterprise GRC

Electronic mail software

  • Email software
  • Microsoft Outlook

Presentation software

  • Microsoft PowerPoint

Basic Skills

  • Reading work related information
  • Thinking about the pros and cons of different ways to solve a problem

People and Technology Systems

  • Figuring out how a system should work and how changes in the future will affect it
  • Thinking about the pros and cons of different options and picking the best one

Social

  • Changing what is done based on other people's actions
  • Talking people into changing their minds or their behavior

Job Market and Opportunities for Corporate Compliance Coordinator in New York

  • The job market for Corporate Compliance Coordinators in New York is currently strong, with a noticeable demand driven by increased regulatory scrutiny across industries. Companies are prioritizing compliance to adhere to local, state, and federal regulations, leading to a broader need for skilled professionals in this field.

  • Growth potential in this sector remains promising. As businesses expand their operations and face more complex regulations, the role of Corporate Compliance Coordinator is expected to evolve and grow. Organizations are increasingly recognizing the importance of compliance in mitigating risks and avoiding legal pitfalls, indicating a stable trajectory for roles involved in compliance management.

  • Geographical hotspots for Corporate Compliance Coordinator positions in New York include:

    • New York City: The financial services, healthcare, and technology sectors are particularly prominent here, creating a robust demand for compliance professionals. Major corporations and banks often seek compliance coordinators to navigate the complexities of regulatory requirements.

    • Albany: As the state capital, Albany houses numerous governmental agencies and regulatory bodies. This area offers opportunities in compliance related to public policy and governance.

    • Buffalo and Rochester: These cities have seen growth in their healthcare and manufacturing sectors, leading to an increased need for compliance specialists to ensure adherence to industry regulations.

    • Westchester County: Proximity to New York City and the presence of several corporations in finance and biotech contribute to job opportunities in compliance roles.

  • The emergence of new regulations in various sectors, particularly in data privacy, environmental compliance, and corporate governance, will likely fuel further demand for compliance coordinators. As industries adapt to evolving regulations, companies are expected to invest more in compliance functions, enhancing job growth in this area.

  • Networking opportunities through industry conferences, seminars, and professional groups in New York can provide valuable leads. Engaging with organizations such as the Society of Corporate Compliance and Ethics (SCCE) can help you stay connected to the latest trends and job openings in the field.

  • Overall, the outlook for Corporate Compliance Coordinators in New York reflects a growing recognition of the importance of compliance within organizations. This trend is expected to lead to a steady increase in job opportunities in varied industries throughout the state.

Top Related Careers to Corporate Compliance Coordinator 2024

Compliance Audit Director
Ethical Standards Manager
Regulatory Affairs Manager
Regulatory Compliance Officer

Additional Resources To Help You Become a Corporate Compliance Coordinator in New York

  • Society of Corporate Compliance and Ethics (SCCE)
    A leading organization providing resources, training, and certifications for compliance professionals.
    SCCE Website

  • Compliance Week
    A publication that offers insights, analysis, and best practices in corporate governance and compliance.
    Compliance Week Website

  • Association of Certified Fraud Examiners (ACFE)
    Offers education, training, and certifications related to fraud prevention and detection, which is an essential part of compliance.
    ACFE Website

  • International Association of Privacy Professionals (IAPP)
    A resource for privacy compliance professionals, focusing on data protection laws and best practices.
    IAPP Website

  • Federal Sentencing Guidelines
    Offers an overview of sentencing guidelines that affect corporations, relevant for understanding compliance failures and corporate liability.
    Federal Sentencing Guidelines Publication

  • Corporate Compliance Insights
    Provides articles, blogs, and webinars on the latest trends and challenges in compliance and ethics.
    Corporate Compliance Insights Website

  • New York State Department of Financial Services (DFS)
    A valuable resource for regulations and compliance standards specific to financial institutions in New York.
    NY DFS Website

  • Corporate Compliance Alliance
    This organization focuses on providing tools and resources for effective compliance programs and legal requirements.
    Corporate Compliance Alliance Website

  • Harvard Law School Forum on Corporate Governance
    Offers articles and discussions on governance and compliance, making it a relevant resource for compliance coordinators.
    Harvard Law School Forum Website

  • American Bar Association (ABA) - Business Law Section
    Provides resources including articles, guidelines, and networking opportunities for legal professionals in business, including compliance.
    ABA Business Law Section

Utilize these resources to deepen your understanding of corporate compliance and stay updated on best practices and regulatory changes in New York.

Frequently Asked Questions (FAQs) About Corporate Compliance Coordinator in New York

  • What is the primary role of a Corporate Compliance Coordinator?
    A Corporate Compliance Coordinator ensures that a company's operations adhere to legal standards and internal policies. This involves monitoring compliance with regulations, conducting audits, and coordinating training programs.

  • What qualifications are needed to become a Corporate Compliance Coordinator?
    Typically, a bachelor's degree in business, law, or a related field is required. Many employers also prefer candidates with certifications such as Certified Compliance and Ethics Professional (CCEP) or Certified Internal Auditor (CIA).

  • What skills are important for a Corporate Compliance Coordinator?
    Key skills include strong analytical abilities, attention to detail, excellent communication skills, and a solid understanding of regulatory requirements relevant to the industry.

  • What industries hire Corporate Compliance Coordinators?
    Corporate Compliance Coordinators are needed in various industries, including finance, healthcare, manufacturing, and technology, where compliance with regulatory standards is critical.

  • What is the typical salary range for this position in New York?
    The salary for a Corporate Compliance Coordinator in New York typically ranges from $60,000 to $100,000 per year, depending on experience, company size, and industry.

  • What are the typical career advancement opportunities?
    Advancement opportunities can include roles such as Compliance Manager, Compliance Director, or Chief Compliance Officer, where you would take on more responsibility and leadership roles within the compliance function.

  • What does a typical day look like for a Corporate Compliance Coordinator?
    A typical day might include reviewing compliance policies, conducting training sessions, preparing reports on compliance findings, and participating in audits or investigations related to compliance issues.

  • How can I stay updated on compliance regulations?
    You can stay informed through continuous education, subscribing to industry newsletters, attending conferences, and participating in professional organizations related to compliance.

  • Is experience in auditing beneficial for this role?
    Yes, experience in auditing can be very beneficial, as it provides valuable skills in risk assessment, regulatory frameworks, and understanding internal controls, which are essential for compliance work.

  • What challenges do Corporate Compliance Coordinators face?
    Common challenges include staying current with constantly changing regulations, managing diverse compliance requirements across different regions, and fostering a culture of compliance within an organization.