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Compliance Officer Roles and Responsibilities in Guatemala

In Guatemala, compliance officers play a crucial role in ensuring that organizations adhere to applicable laws, regulations, and standards.

Compensation Package

According to recent data, the average base salary for a compliance officer in Guatemala is Q371,958 per year, with an average hourly rate of Q178.83. The compensation package also includes an average bonus of Q22,206 per year.

Salary Estimates by Experience Level

  • Entry-level compliance officers (1-3 years of experience): Average salary of Q262,078
  • Senior level compliance officers (8+ years of experience): Average salary of Q471,048

Responsibilities

In addition to their compensation package, compliance officers in Guatemala are responsible for:

  • Overseeing and coordinating the development, maintenance, implementation, and revision of policies and procedures
  • Ensuring that all departments within the organization are in compliance with applicable federal, state, and industry laws, regulations, and standards

Career Outlook

According to a recent report, the estimated salary potential for compliance officers in Guatemala is expected to increase by 6% over the next five years.

Education and Cost of Living

  • The majority of compliance officers in Guatemala hold a master’s degree, with the typical field of study being Human Resources Management/Personnel Administration
  • The cost of living in Guatemala is relatively low, with food, transportation, health services, rent, utilities, taxes, and miscellaneous expenses making up the bulk of the cost of living index

Location and History

Guatemala is located in Central America, bordered by Mexico to the north and west, Belize to the northeast, Honduras to the east, and El Salvador to the southeast. The country has a rich history, hosting the core of the Maya civilization and being conquered by the Spanish in the 16th century.

Conclusion

Overall, compliance officers play a vital role in ensuring that organizations operate within the boundaries of applicable laws and regulations in Guatemala. With a growing demand for compliance professionals, salaries are expected to increase over the next five years, making it an attractive career option for those interested in this field.