Chief Compliance Officer Job Description Just Updated
Chief Compliance Officer Job Description is critical in the recruiting process for an effective CCO. The individual must have a broad vision and perspective. Additional skills enable him/her to function in the ‘global’ regulatory environment. This requires that they consider many key factors to ensure the success of the compliance management processes.
C-Level executives are continuously looking for help in preventing fraud and protecting sensitive information. The fact that key corporate executives carry personal liability in the event of non-compliance virtually ensures compliance to be a key initiative in any large organizations.
Role of CCO
The Chief Compliance Officer oversees the Corporate Compliance Program, functioning as an independent and objective body that reviews and evaluates compliance issues/concerns within the organization. The position ensures the Board of Directors, management and employees are in compliance with the rules and regulations of regulatory agencies, that company policies and procedures are being followed, and that behavior in the organization meets the company’s Standards of Conduct.
Janco’ detail CCO job description provides afocus on these key factors. It offers a strategic and top-down view of this important new function. It defines how the CCO can materially assist the enterprise in establishing a function with an aggregate view of Governance, Risk Management and Compliance. They need to replace the highly fractionated structure that was typical of previous risk and compliance functions that functioned at mainly the tactical and operational level.
The job description is 2,000 words in length and takes up six packed pages of job requiurements.
Compliance Management Team
The Compliance Management Team serves as the focal point for compliance activities. The team typically is composed of persons of high integrity, having other duties that are not in conflict with the compliance goals.
Coordination and communication are the key functions of the Compliance Management with regard to planning, implementing, and monitoring the compliance program.