This training will provide valuable knowledge on what companies need to do to select an “effective” Compliance Officer who will lead the organization to conceiving, developing and implementing successful GRC programs and providing top level coordinating leadership for governance, risk management and compliance issues across the enterprise.
The regulatory environment created by Sarbanes-Oxley, GLB, HIPAA and countless new regulations make it imperative that organizations, large and small, select a Chief Compliance Officer (CCO) or, more recently, The Chief Risk Officer (CRO) best suited to the position.
The Board, the CEO and other line and staff executives need to rely on One Single Source for meaningful information on the company’s status on risk and compliance. The impact on Company activities and profitability can be impacted by it’s compliance to regulatory mandates. Development and use of one authoritative entity to assess risk management and compliance strategies and spearhead and coordinate Governance, Risk management and Compliance (GRC) programs on an “enterprise-wide” basis is essential. To do so, the right person must fill that role.
Selecting an effective CCO/CRO with a broad vision and perspective and with the proper skill set to enable him/her to function in the current ‘global’ regulatory environment requires that you consider many key factors to ensure the success of the new function.
The skill set needed by this individual goes beyond training and certification. It takes a unique individual with a strong internal compass and the willingness to state what is needed, even when facing financial challenges. The ability to communicate the essence and structure behind a good compliance program is essential to its success. The skills needed to do this will be reviewed. With the increase in whistleblowers, ensuring a corporate culture that supports compliance is essential.
Areas Covered in the Session :
Why Do You Need a Chief Compliance Officer or a Chief Risk Officer (CRO)?
Mistakes to Avoid When Hiring Chief Compliance Officers or Risk Officers
Characteristics of a CCO/CRO
Internal versus external candidates
How to establish a true picture
Supports needed for the candidate
Team members needed
Strategic Planning required facilitating success
Who Will Benefit:
CEOs, Board members and Audit or Corporate Governance Committee Members
CFOs, Controllers and Accounting professionals
CIOs, CTOs and IT professionals
Chief Compliance Officers (CCOs), Chief Risk Officers (CROs)
Legal Counsel, Human Resources and Public Relations
Internal and external Auditors
Senior Risk Management and Operational Risk Officers
Consultants and risk, compliance and governance advisors
Compliance, risk management and governance product vendors
Any line manager or employee responsible for developing and deploying governance and compliance programs
Quality Assurance Managers