Legal, investment and financial firms rely on portfolio compliance specialists to assist in the ongoing oversight and administration of investment compliance programs. The path to a portfolio compliance specialist career can begin with enrolling in the online Master of Business Administration (MBA) in Finance program from Florida Institute of Technology.
Job Outlook
The U.S. Bureau of Labor Statistics (BLS) projects that financial analyst jobs, including portfolio compliance specialist positions, will grow by 9% by 2033, much faster than average. The increasing number of assets held by firms and individuals, as well as the complexity and global diversification of investments, will spur demand for compliance professionals.
As a result, job applicants can expect competition for these well-paying jobs. Candidates with master’s degrees in business or finance should have the best prospects.
Job Duties
Professionals working as portfolio compliance specialists use their in-depth knowledge of fixed income and other securities to monitor and review trading activity for regulatory and compliance issues and to make appropriate trade decisions. They are typically responsible for the design, implementation and ongoing maintenance of portfolio management. In addition, they may develop policies and procedures, monitor investment compliance and oversee trading. Continuous pre- and post-trade compliance monitoring is another important aspect of this position.
Portfolio compliance specialists research potential issues and report them to clients or company management. These finance experts also analyze account transactions and portfolio holdings for risk and work toward resolving any violations. They may also collaborate with executives to discover the best way forward. Ensuring that an organization is in compliance with all accounts and funds is the overall goal of the portfolio compliance specialist.
Typically, the portfolio compliance specialist position is a challenging and multifaceted role. Additional responsibilities could include conducting complete compliance verifications for all accounts and mutual funds; researching potential compliance issues; reporting to management; and leading process improvement, scenario analysis and technology testing.
The typical work environment for portfolio compliance specialists is a comfortable office. While a 40-hour week is standard, longer hours could be necessary during certain activities, such as resolving compliance issues. Depending on the employer, travel may be required.
Potential Salary for Portfolio Compliance Specialists
BLS data for May 2023 indicates that the average annual salary for compliance officers was $80,190, while the middle 50% earned between $56,180 and $100,340. The lowest 10% earned approximately $43,790, while those in the highest 10% bracket brought in $123,710.
According to Robert Half, portfolio managers in the financial services industry earn a salary in the range of $105,000-$155,500. The data shows that the top salaries generally go to those with more experience and an advanced education.
Education and Training Requirements
Portfolio compliance specialist jobs usually require a bachelor’s degree. According to the Graduate Management Admission Council (GMAC) Corporate Recruiters Survey, many employers prefer to hire candidates with an MBA or a master’s degree in finance. In addition, a broad understanding of finance, business, economics, accounting and statistics is usually required.
Finance and business professionals who wish to enter the field of portfolio compliance can boost their chances for success by enrolling in a finance MBA program. Coursework typically includes strategic management, investment management, portfolio analysis, and financial markets and institutions.
Employers can be confident that professionals with an MBA in finance can do the following:
- Understand how finance best practices, including compliance, affect operations and business success
- Position a company for success through strong portfolio performance
- Develop effective solutions to real-world business problems
- Analyze interest rates and investment returns
- Leverage advanced knowledge and skills to succeed as a portfolio compliance specialist
Essential Skills for Success in a Portfolio Compliance Specialist Career
Are you interested in working in a dynamic, fast-paced field? Do you flourish in challenging environments? Do you have the ability to shift priorities as needs dictate?
With these attributes and skills, such as analytical problem-solving, written and verbal communication, and attention to detail, you could achieve success as a portfolio compliance manager. If you want to stand out and land an exciting portfolio compliance specialist position, Florida Tech’s online MBA in Finance program offers the business knowledge employers seek.
Learn more about Florida Tech’s online MBA in Finance program.
