Chief compliance officer

Chief compliance officer

The chief compliance officer (CCO) of a company is the officer primarily responsible for overseeing and managing compliance issues within an organization. Generally, a CCO is in charge of overseeing and managing compliance issues within an organization, ensuring, for example, that a company is complying with regulatory requirements, and that the company and its employees are complying with internal policies and procedures. The CCO typically reports to the Chief Executive Officer or Chief Operations Officer. The role has long existed at companies that operate in heavily regulated industries such as financial services and healthcare. For other companies, the rash of 2000s accounting scandals, the Sarbanes-Oxley Act, and the recommendations of the U.S. Federal Sentencing Guidelines have led to additional CCO appointments. Scott Cohen, editor and publisher of Compliance Week, dates the proliferation of CCOs to a 2002 speech by SEC commissioner Cynthia Glassman, in which she called on companies to designate a "corporate responsibility officer."[1] The responsibilities of the position often include leading enterprise compliance efforts, designing and implementing internal controls, policies and procedures to assure compliance with applicable local, state and federal laws and regulations and third party guidelines; managing audits and investigations into regulatory and compliance issues; and responding to requests for information from regulatory bodies.

References

  1. ^ SEC Commissioner's Speech: Sarbanes-Oxley and the Idea of "Good" Governance (Cynthia A. Glassman)

External links


Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • Chief executive officer — Chief Executive redirects here. For other uses, see Chief executive (disambiguation). CEO and CEOs redirect here. For the island, see Ceos. For the musical project, see ceo (musician). A chief executive officer (CEO, American English), managing… …   Wikipedia

  • Chief information officer — (CIO), or information technology (IT) director, is a job title commonly given to the most senior executive in an enterprise responsible for the information technology and computer systems that support enterprise goals. The title of Chief… …   Wikipedia

  • Chief business officer — is a term used to describe the position of the top business and operating executive of an academic or research institution such as a university, college, institute or teaching hospital. The chief business officer title is becoming more… …   Wikipedia

  • Chief marketing officer — (CMO) is a corporate title referring to an executive responsible for various marketing activities in an organization. Most often the position reports to the chief executive officer. Contents 1 Role 2 Challenges 3 CMO Associations 3.1 …   Wikipedia

  • Chief science officer — (CSO) is a position at the head of scientific research operations at companies performing significant scientific research projects. In some organizations, the same person may hold this title along with that of Chief Technology Officer (CTO).… …   Wikipedia

  • Chief analytics officer — (CAO) is a job title for the senior manager responsible for the analysis of data within an organization, such as a listed company or an educational institution. The CAO often reports to the chief executive officer. This position, along with that… …   Wikipedia

  • Chief channel officer — (CCO) is a corporate title for the person responsible for all indirect revenue with a partner within an organization. The Channel Chief typically reports to the chief executive officer (CEO) as a corporate officer or to the Chief operating… …   Wikipedia

  • Chief product officer — (CPO), sometimes designated as chief production officer is a corporate title referring to an executive responsible for various product related activities in an organization. Most often the position reports to the chief executive officer. Role A… …   Wikipedia

  • Chief risk officer — The chief risk officer (CRO) or chief risk management officer (CRMO) of a corporation is the executive accountable for enabling the efficient and effective governance of significant risks, and related opportunities, to a business and its various… …   Wikipedia

  • Chief process officer — A chief process officer (CPO) is an executive responsible at the highest level of an organization. CPOs usually report direct to the CEO or board of directors. They oversee the business process activities, are responsible for defining rules and… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”