Belgium faces an emerging demand for compliance talent, offering attractive growth prospects for compliance professionals across a range of sectors.  

Stephen Fournier, senior consultant at international recruitment firm Robert Walters, explains exactly what the compliance officer job entails, explains more about the current demand for these professionals and reveals the salary you can expect in this role. 

What are the main duties and responsibilities of a compliance officer? 

Stephen: "Compliance Officers play a central role in ensuring legal compliance and ethical integrity within organisations. These professionals are responsible for enforcing external rules and internal policy guidelines, and work closely with management to identify potential risks. Based on these findings, internal policies are constantly reviewed and updated, so that the right strategic decisions can also be made." 

What training and skills does the compliance officer role require? 

A solid foundation in the legal sphere, for example a law degree, is important to understand the relevant laws and regulations for the organisation, and be able to translate them into business practices. A master's degree in an economic field also offers opportunities, depending on the specific scope of the position, as well as experience within audit and risk management.  

"In addition, achieving recognition as a 'Certified Compliance Officer' is decisive," Stephen adds. "Professionals who invest in themselves and pass this exam significantly increase their job opportunities." 

Besides education and background, some human skills are also essential for the compliance officer role. For instance, strong communication skills and empathy are crucial. After all, you are in daily contact with various departments and management, overseeing compliance with laws and regulations. This can sometimes lead to conflicts, so persuasion and diplomacy are important. Anticipation, analysis and critical thinking are also among the skills required. Given the constant changes in legislation and the need for rigorous compliance, stress resistance is also a required trait.  

What is the current demand for compliance officers?  

With the rapid development of compliance requirements and increasingly stringent legislation, the complexity of this field is increasing. In addition, financial crime is on the rise due to digitalisation, making credit institutions face this challenge more than ever. These factors are leading to an acute shortage of compliance talent in the banking and insurance industry.  

The number of vacancies remained continuously high in the fourth quarter of 2023, with a significant spike in October (source: Jobfeed). "When we compare with the same period last year, we see an interesting shift in terms of region," says Stephen. "While at the end of 2022, region Brussels accounted for no less than 48% of all compliance officer vacancies, today 34% of these jobs are in Brussels, and the number of vacancies is proportionally increasing in the provinces of Flemish Brabant and Antwerp. On the one hand, this is explained by the fact that Antwerp is, after Brussels, a major hotspot for headquarters of financial services companies. On the other hand, due to the increasing importance of compliance, the need for compliance talent is also becoming higher in other sectors besides banking and insurance, such as food, pharmaceuticals and chemicals." 

What future prospects does the compliance officer role hold? 

"Every large organisation that is reputation- and risk-oriented has a compliance team: in large corporate structures today, 1 compliance specialist is not enough," Stephen explains. "This means there are great opportunities both in banking and insurance and beyond for professionals with a legal or economic background." 

If the position of Compliance Officer appeals to you, then taking the CCO (Certified Compliance Officer) exam is definitely recommended to increase your chances in the job market. If you like to go the extra mile and want to do more than just what is expected of you to support your supervisor, you will also progress faster. And who knows, in time you might then become the Head of Compliance with a full team under you. 

What salary can you expect as a compliance officer? 

Stephen: "On average, a Compliance Officer earns between 4500 - 6000 EUR gross per month. A Senior Compliance Officer or Compliance Manager with several years of experience can expect a gross monthly salary of EUR 6000 - 7500. That salary is further supplemented in most organisations by an insurance package, a company car, a mobile phone and laptop and meal vouchers or a company restaurant. Once you supervise an entire team as Head of Compliance, your salary rises to EUR 10,000 gross per month on average.” 

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