The fourth ingredient in a world-class ethics and compliance program has been saved
Perspectives
The fourth ingredient in a world-class ethics and compliance program
The Chief Compliance Officer
Enterprise ethics and compliance executives represent a young, but rapidly maturing profession—one that began to emerge in the late 1980s when several government initiatives and high level commissions began recommending that specific senior-level personnel should have responsibility for overseeing an organization's compliance and ethics program. These key business leaders are responsible not only for maintaining compliance, but also for safeguarding what is arguably an organization’s most valuable asset: its reputation.
Key differentiators
What separates a “good” ethics and compliance program from a “great” one? While there are a number of factors that separate the “good” from the “great,” in our experience, there are five factors that are key differentiators in the highest performing compliance programs:
- Tone at the top
- Corporate culture
- Compliance risk assessments
- The chief compliance officer
- Testing and monitoring
Click here to download a compendium that provides details about all five ingredients. This 32-page document allows for easier reading and reference.
The chief compliance officer
This article takes a look at the role of the chief compliance officer (CCO). Companies with world-class ethics and compliance programs make sure they have a world-class CCO leading the charge. Read this paper to learn how the role has evolved in some organizations:
- From compliance gatekeeper to risk manager
- From legal program manager to senior-level advisor
- From checking boxes to asking questions
- From an expense to an asset
- From living apart to building bridges
- From no you can’t, to yes we can
- From down in the weeds to up in the trees
- From cleaning up to keeping clean
These individuals have helped to bring the profession to a new level. It’s a level that many aspire to—and it’s also an indication of where the profession is headed.
The Chief Compliance Officer
Recommendations
Building world-class ethics and compliance programs
Making a good program great
