Jobs in Compliance: Exploring Career Opportunities with a Master of Arts in Law

Learn more about how a Master of Arts in Law can prepare you for a variety of opportunities within the compliance field.

Compliance

In an age when legal standards and ethical obligations intersect with business operations, the field of compliance has grown in importance. It represents a multifaceted discipline, essential for organizations aiming to maintain integrity while avoiding regulatory repercussions. With an M.A. in Law, graduates are poised to tap into this dynamic sector, championing compliance roles that are both crucial and rewarding.

Here is a list of potential careers in compliance:

What does a compliance officer do?
A compliance officer is essential for guiding an organization through the maze of industry-specific regulations. Key responsibilities include:

• Legal framework navigation: Using their deep understanding of legal systems to ensure operations stay within legal parameters.
• Development of control systems: Creating, implementing, and overseeing systems that detect and deal with violations of regulations and internal policies.
• Evaluation: Regularly assessing the efficiency of control systems and suggesting improvements.
• Collaboration: Working in tandem with executive and managerial teams, reporting findings and advocating for corrective measures.
• Culture creation: Promoting a culture of adherence by educating and training company staff on compliance matters.

How an M.A. in Law degree elevates a compliance officer’s career
A Master of Arts in Law degree isn’t just a piece of paper; it’s a ticket to a thriving career in compliance. Here’s why:

• Analytical skills: Advanced legal education refines one’s ability to dissect and interpret complex regulations.
• Comprehensive knowledge: This degree provides a deeper understanding of legal concepts crucial for effective compliance.
• Specialization: Tailored expertise in areas like corporate governance, health care, finance, or data privacy can be obtained, making individuals invaluable in various industries.
• Risk management: With this degree, one can expertly shield organizations from potential legal pitfalls and reputational hazards.

How much can a compliance officer make?
The average salary for someone who works as a compliance officer is about $62,000 to $130,000 annually, with a median salary around $91,000, according to Salary.com*.

*Data gathered in 2023.

2. Compliance Analyst

Compliance analysts are essential professionals who ensure organizations adhere to legal standards. With a deep understanding of regulations, they navigate businesses through complex regulatory landscapes.

What does a compliance analyst do?
Compliance analysts play a vital role in ensuring an organization adheres to legal standards and in-house policies. Key responsibilities include:

• Monitoring regulations: Tracking changes in relevant legislation and ensuring the company’s compliance with external rules and regulations.
• Risk assessment: Identifying areas of compliance risk and working to mitigate those risks through strategic planning.
• Data analysis: Collecting and analyzing data to recognize compliance performance, preparing detailed reports for management.
• Policy development and implementation: Assisting in the creation and implementation of internal compliance policies and procedures.
• Training and support: Educating staff about compliance requirements and offering support in alignment with regulatory obligations.

What is the value of a Master of Arts in Law degree for a compliance analyst?
A Master of Arts in Law degree is an asset for anyone aspiring to become a compliance analyst. Here’s how it contributes:

• Critical thinking: The degree sharpens critical thinking skills needed for regulatory analysis.
• Regulatory expertise: Specialized knowledge in law helps in interpreting and applying complex regulations.
• Strategic planning: Advanced legal education aids in the strategic planning of compliance measures.
• Career growth: Enhances opportunities for career advancement in compliance within various industries.

How much can a compliance analyst make?
The average salary for someone who works as a Compliance Analyst is about $60,849 to $64,730 annually, according to Salary.com*.

*Data gathered in 2023.

3. Risk Analyst

Risk analysts are pivotal in assessing and mitigating potential vulnerabilities within organizations. Armed with analytical prowess, they forecast and strategize to safeguard businesses from unforeseen threats.

What does a risk analyst do?
A risk analyst is instrumental in identifying, evaluating, and mitigating risks to safeguard an organization’s assets and profitability. Key responsibilities include:

• Risk identification: Scanning business processes, financial structures, and market trends to pinpoint vulnerabilities.
• Quantitative analysis: Utilizing statistical techniques to gauge potential financial impacts of identified risks.
• Strategy development: Crafting strategies and recommendations to manage or reduce identified risks.
• Reporting: Presenting findings and strategic solutions to leadership and relevant stakeholders.
• Collaboration: Working alongside other departments to ensure that risk management strategies are integrated into company processes.

How a Master of Arts in Law degree provides value for a risk analyst
While traditionally a background in finance or statistics might be expected for a risk analyst, a Master of Arts in Law degree brings unique value. Here’s how:

• Legal acumen: Deep understanding of legal frameworks can inform risk assessment, especially in regulated industries.
• Critical evaluation: The degree cultivates a nuanced ability to dissect and interpret complex matters, vital for risk analysis.
• Ethical consideration: Legal training often emphasizes ethical considerations, ensuring risks are evaluated not just for profitability, but for ethical implications as well.
• Career differentiation: The blend of law and risk analysis can set candidates apart in a competitive job market.

How Much Can a Risk Analyst Make?
The average salary for someone who works as a risk analyst is about $92,911 annually, according to Glassdoor*.

*Data gathered in 2023.

4. Diversity Equity Inclusion (DEI) Compliance Specialist

In the contemporary corporate landscape, the importance of fostering diversity, equity, and inclusion (DEI) is paramount. A DEI compliance specialist is a crucial player, seamlessly melding legal acumen with the principles of DEI to ensure organizations not only meet regulatory standards but truly embody a culture of inclusivity and fairness.

What does a DEI compliance specialist do?
A DEI compliance specialist champions initiatives that promote a diverse, equitable, and inclusive work environment. Their primary responsibilities encompass:

• Policy development: Crafting and implementing policies that support diversity, equity, and inclusion within the organization.
• Monitoring and reporting: Assessing the effectiveness of DEI initiatives and producing detailed reports on progress, areas of improvement, and successes.
• Training and workshops: Organizing training sessions and workshops to educate employees about the importance of DEI and address unconscious biases.
• Collaboration: Engaging with leadership, HR, and other departments to embed DEI principles throughout company practices.
• Regulatory compliance: Ensuring that the organization meets any local, state, or federal DEI-related regulations or requirements.

The value of a Master of Arts in Law degree for a DEI compliance specialist
A Master of Arts in Law degree can significantly enhance the credentials of a DEI compliance specialist. Here’s the potential impact:

• Legal insight: A profound understanding of legal regulations surrounding equal employment opportunity, affirmative action, and other related areas.
• Ethical framework: Ability to frame DEI initiatives within a robust ethical and legal structure, ensuring genuine impact and compliance.
• Advanced negotiation: Skills in mediation and negotiation can facilitate more effective discussions around sensitive DEI topics.
• Career advantage: Combining DEI expertise with a legal background provides an edge in a rapidly evolving field.

The field of compliance offers a vast realm of opportunities for those equipped with the right credentials and skill set. With an M.A. in Law, graduates not only acquire a nuanced understanding of the legal landscape but also hone their analytical abilities to navigate the intricate maze of regulations and ethical standards. As businesses worldwide continue to evolve, so too will the need for professionals dedicated to ensuring that these entities operate within the bounds of law and ethics. An M.A. in Law therefore serves as a passport to a promising, impactful, and ever-evolving career in compliance.