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Is chief compliance officer a C suite?

In doing so, they are creating new departments, positions, and ethics-training programs. For many corporations, there is now a new C in the C-suitethe chief compliance officer, or CCO (see The Emergence of Compliance: A new profession?).

What makes a good CCO?

The ability to influence both internal and external stakeholders is the single most important characteristic of the CCO. The CCO spends her or his time convincing others that changes being proposed will positively affect the success of the company.

What makes a good chief compliance officer?

A successful CCO needs the skills to: Evaluate current compliance program activities and gauge their effectiveness and impact. Absorb data and analytics to evaluate the ongoing ROI of a program, while also identifying opportunities for program improvements and risk mitigation.

What is the difference between a COO and a chief compliance officer?

It is the role of the COO to lead their compliance officers in managing compliance risk so the business passes audits by the government or security audits. The CCO role is generally on the executive level and who they report to is up to the company, but they play a very important role in the health of the company.

How do I become a successful compliance officer?

We have identified six crucial skills that every compliance officer needs to possess to protect their company effectively. Connect with people. Understand where they fit in the bigger picture. Effective problem-solvers. Ability to show empathy. Can work closely with other departments. Have a proactive nature.

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