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How to Become a Risk and Compliance Officer: Australian Careers in Business Management

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What is a Risk and Compliance Officer?

What will I do?

What skills do I need?

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What is a Risk and Compliance Officer?

A Risk and Compliance Officer protects an organisation by managing risk and ensuring it follows the law. They build compliance programs, run audits, and train staff on their legal duties. This role sits at the heart of good governance in banking, healthcare, government, and many other sectors.

Day to day, these professionals review policies, track regulatory changes, and report their findings to senior leaders. They work with legal, HR, finance, and operations teams to embed compliance across the whole business. Their goal is to prevent problems before they arise rather than react after the fact.

Common tasks include conducting risk assessments, investigating breaches, and briefing the board or regulators. When something goes wrong, the officer leads the investigation and puts fixes in place. This proactive role protects both the organisation and the people who work in it.

As regulations grow more complex, demand for skilled Risk and Compliance Officers keeps rising across Australia. The role suits people who enjoy analysis, detail, and working across departments. It offers a clear career path from officer to compliance manager and beyond. Explore risk and compliance courses on CourseFinder to get started.

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Career snapshots For Risk and Compliance Officers

Risk and Compliance Officers work primarily in financial services, government, and large corporates. Most roles are full-time permanent positions, with a standard week of 38–40 hours. Workers in this field tend to be between 30 and 45 years old, based on recent Australian workforce data.

The average salary is around $95,000 per year, with entry-level roles starting near $70,000. Experienced professionals in senior positions can earn $130,000 or more (Robert Half, 2026; PayScale, 2026). Demand is strong and growing, particularly in banking, financial services, and the public sector. Job prospects are expected to remain well above average through the late 2020s.

What will I do?

A Risk and Compliance Officer protects a business from legal, financial, and reputational harm. They build compliance programs, review processes, and train staff on their duties. This versatile role spans strategy, operations, and reporting across many departments.

  • Risk Assessment – Checking for risks that could harm business operations or reputation.
  • Policy Development – Writing and updating compliance policies to align with current laws and best practice.
  • Training and Awareness – Running workshops and training sessions to help staff meet their compliance duties.
  • Monitoring and Reporting – Tracking compliance activities and reporting findings to senior management.
  • Incident Management – Looking into breaches and recommending steps to stop them happening again.
  • Collaboration – Working with legal, HR, finance, and operations teams to embed compliance across the business.
  • Regulatory Liaison – Engaging with regulators such as ASIC and APRA on behalf of the business.
  • Continuous Improvement – Reviewing compliance processes to find and fix gaps in risk controls.

What skills do I need?

Risk and Compliance Officers need strong analytical skills and the ability to communicate clearly. They must read complex laws and turn them into plain, practical guidance for their teams. Attention to detail matters, as small errors can lead to serious legal or financial harm.

Beyond technical know-how, these professionals need strong people skills. They influence behaviour across the business, run training sessions, and work closely with leaders. They also need to adapt quickly as laws and rules change over time.

Skills/attributes

  • Analytical thinking and critical reasoning
  • Attention to detail
  • Clear written and verbal communication
  • Knowledge of Australian laws and regulations
  • Risk assessment and problem-solving
  • Ability to work calmly under pressure
  • Understanding of risk management principles
  • Proficiency in compliance software and tools
  • Teamwork and stakeholder engagement
  • Ethical judgement and integrity
  • Adaptability to changing regulations
  • Project and time management
  • Ability to conduct audits and gap analysis
  • Strong organisational skills
  • Commitment to ongoing professional learning

CourseFinder makes every effort to ensure the information we provide is correct at the time of publication. We welcome your input to help keep our career profiles as accurate and up to date as possible. All queries and feedback will be taken into consideration as we conduct periodic reviews of our content. Add your voice to the conversation!

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About the author

Laura Atkinson

Laura Atkinson

Laura Atkinson is an Account Management and SEM specialist at Course Finder Group with six years' experience in the Australian education sector. She works day to day with universities, TAFEs and independent training providers, which gives her a close view of how courses map to real career outcomes. She writes practical guidance on career pathways, choosing the right qualification and what to expect when moving into a new field.