Responsibilities of a Chief Compliance Officer

It is essential that a Chief Compliance Officer first write, maintain and revise all Compliance Program policies and procedures. Once they are in place, he should monitor and report the results of all of the compliance and ethics efforts of the enterprise. In this effort, he fully supports the CEO and the Board of Directors' Corporate Compliance Committee.

From time to time, he will be called upon to audit and evaluate compliance issues within the organization to ensure that the Board of Directors, management and employees are in full compliance with the rules and regulations of various regulatory agencies.

Collaboration with other departments such as Risk Management, Internal Audit, etc., is of paramount importance in order to direct compliance issues to appropriate existing channels as needed to resolve difficult legal compliance issues.

He should also initiate and coordinate ongoing Compliance Training programs through a close working relationship with the Human Resources Department.