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The chief compliance officer job is a very important position in any corporation. In the past 10 years more companies have hired chief compliance officers. In the past the job was just a a side note, something that was taken care of by middle management. But the job has had to grow and evolve into what it is now.

A CCO reports directly to either the chief executive officer or chief financial officer. In most cases the CCO also has a direct line to the board of their company. This kind of direct communication is important. The CCO has to make decisions that affect the entire company and those decisions couldn’t be made by someone in a lower position.

The responsibilities of the chief compliance officer are important. He or she makes sure that all of the requirements of any regulations are being met. For example, in a finance company the CCO would make sure that the company is following all the Federal regulations about banking. In the industrial field the chief compliance officer would make sure that OSHA and state safety laws are being followed.

Other responsibilities of the CCO would include setting the policy and procedure manual for the company. This means that he or she defines the regulation for the company and dictates how it is followed. One example of this is that while the each company follows OSHA, individual companies can translate how that works for them. One company may drug test after any accident while another may drug test only after major accidents. They are both in compliance with the regulations, but their policies are different.

The chief compliance officer also makes sure that everyone knows what the policies and procedures are for their company. He or she trains all levels of management and make sure that all other employees have information about the policies and how they are affected. The CCO also tests the employees at all levels about the policies. He or she also makes sure that the policy and procedures manual is available for all employees.

If any employee comes to the CCO or his or her staff to report a violation the CCO is in charge of investigating the claim. If the claim is valid then he or she must decide what to do with the non-compliant employees as well as do anything necessary to make sure that the company comes back to compliance.

Another part of the chief compliance officer job is to monitor the compliance of the company. There are a few ways that this can happen. One is for the CCO to run spot checks. He or she can check on one particular department at any time to evaluate what they are doing and how they are following the regulations. Of course the CCO can’t do this all on their own, he or she will have staff that helps to put policies into place and insure that they are followed properly.

In any company, large or small, the chief compliance officer job is very important. A company that isn’t in compliance with all the regulations and rules can end up paying thousands in fines. The CCO saves the company money from fines and lawsuits.

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