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The compliance and risk management functions have grown much closer in recent years, to the point where conversations about compliance inevitably involve discussions of risk. Intensifying enforcement, the rising cost of compliance breaches, and the underlying risk of reputation damage are all forces Chief Compliance Officers must reckon with.
In this edition of Risk Angles, Maureen Mohlenkamp, principal, Deloitte LLP in the United States, answers five questions about the evolution of the compliance function and emerging compliance risks, and Aida Demneri, Director of Enterprise Risk Services for Deloitte Netherlands, takes a closer look at the evolving role of the CCO.
This Risk Angle answers the following questions
- How has the role of the compliance function shifted over the years?
- What’s the relationship between the compliance and risk function?
- What are some of the top risks in this area?
- How can the compliance function become more effective in combatting risk?
- What role does technology play?
It also takes a look at the evolving role of the CCO.