15-03-2018
A chief compliance officer needs to be independent and have adequate authority within the organization. But do not get confused by the concept of independence. Compliance depends on collaborative relationships with other corporate functions. Most importantly, a compliance program’s success depends on its ability to embrace the company’s business. To do so, the compliance staff has to learn and understand the company’s business inside and out. If a compliance staff sits in its respective offices and waits to hear from employees about compliance issues, the compliance program is doomed to fail.
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