As the SEC continues to focus on private funds and regulatory requirements proliferate, fund managers are attributing more value and importance to their respective compliance programs. Accordingly, demand for qualified CCO candidates has never been higher as managers scramble to fill the role or upgrade their existing compliance teams. There is a constantly evolving standard, however, as to the types of skills, experience and traits an individual needs to thrive as a CCO, as well as the amount of compensation managers need to offer to secure their services. This first article in a two-part series discusses current drivers and trends in the CCO market; the experience, skills and attributes firms are looking for in candidates; and the typical compensation ranges for CCOs based on a firm’s size and sophistication. The second article will examine the timeline for filling the CCO role, key stakeholders involved in the interview process and an array of sample questions that firms use to vet which candidate is best suited for the role. See “SEC Risk Alert Reflects Growing Concerns About and Focus on Private Funds” (Mar. 8, 2022); and “SEC Private Fund Statistics Report: Continued Growth in Private Funds and Private Fund Assets” (Apr. 7, 2020).