Make sure workers obey company rules, and the company obeys industry rules.
What does a Chief Compliance Officer do?
A Chief Compliance Officer makes sure a corporation adheres to local and national laws and devises internal policies, procedures and a company code of ethics. A big part of the job of a Chief Compliance Officer is also making sure employees understand the rules and are abiding by them.
On some days you’ll act as an Investigator, following up on reports of violations like unsafe working conditions. If these reports result in a federal or state investigation, you, as the Chief Compliance Officer, will be the main point of contact for involved government agencies. Other days might find you evaluating departments to make sure they are following the company’s rules to the letter. Sometimes you’ll be revising portions of the compliance regulations to address efficiency and other company changes, and setting up programs to help employees report issues without fear of losing their jobs.
You are the head of this work, meaning that you get the say in deciding priorities and deadlines. Then periodically you check in with a company’s Chief Executive Officer and Board Members to discuss risk assessment, ethics violations and developing better programs to ensure everyone in the organization knows the rules.
If you think a Chief Compliance Officer is the fun police or like a pesky hall monitor, think again. As a CCO, you’d make sure everyone in a company is getting treated fairly. You’d also help prevent financial meltdowns, fraud, and misconduct by upper management. It’s a vital position in companies that value employee welfare.