A growing thicket of federal regulations under the Obama administration has contributed to an employment spike in at least one corner of the job market: the increasingly vital compliance industry.
ObamaCare, the Dodd-Frank Act and other large federal undertakings have led to an outpouring of new agency rules derided by business groups and defended by advocates.
But the regulations have also been a boon for professional compliance officers paid to help companies understand and adapt to the new requirements.
“Staff to track compliance issues is on the rise, and it has been for the last several years,” said Richard Riese, senior vice president for regulatory compliance at the American Bankers Association. “And, at the moment, there’s no prospect it will decrease anytime soon.”
Data kept by the Bureau of Labor Statistics (BLS) shows an 18-percent increase in the number of compliance officers in the United States between 2009 and 2012, according to an analysis conducted by the conservative American Action Forum (AAF).
At last count, there were an estimated 227,500 compliance officers employed in the United States, according to the BLS. The bureau defines a compliance officer as an employee responsible for evaluating conformity with laws and regulations.
The agency estimates do not include professions like bank examiners, tax collectors, or Occupational Safety and Health Administration inspectors that are tasked to monitor companies for fraud and safety violations.
Compliance officers make an average of just under $65,000 annually, a gross national labor cost of roughly $14.7 billion, according to the BLS data.
Via: The Hill
Continue Reading.....
Subscribe to:
Post Comments (Atom)
Popular Posts
-
President Joe Biden is hiding a myriad of information on the more than 75,000 Afghans his administration has brought to the United States ...
-
'It's A Great Opportunity For Me Personally, It's Great Opportunity For Our State' ASBURY PARK, N.J. (CBSNewYork) –...
-
Twenty-three House Democrats failed to build a “remembrance” exhibit by the first anniversary of the January 6 protests. In the wake of th...
-
The new Netflix film Don’t Look Up is sort of the big budget sequel to celebrities singing Imagine , The film has an impressive cast—Le...
-
Dr. Ivar Giaever (AP) A Nobel Prize-winning scientist who supported President Barack Obama has said that he does not believe global...
-
by JOHN NOLTE 3 Jul 2015 1719 With the fascist left on a fascist rampage , why not add a little defiance to your 4th of July b...
-
For reporters trying to cover the opening months of Hillary Rodham Clinton's second presidential campaign, Waterloo, Iowa might be her...
-
PALM BEACH, Fla. – With Election Day less than 11 weeks away, top-rated radio host Rush Limbaugh says Democrats are “set to implode,” be...
-
President Obama has been claiming that people can keep their favorite doctors under the Affordable Care Act . But anyone who wants a prem...
-
Shepard Fairey, the artist who designed Barack Obama’s “Hope” poster that symbolized his 2008 campaign, said that he thinks Americans are ...
No comments:
Post a Comment