Chief compliance officers are responsible for the finances and operations within their company. Whenever a department or division undertakes a new initiative requiring executive budget approval, the chief compliance officer must make a decision on whether to grant that permission. Chief compliance officers are also responsible for ensuring that operations within the company adhere to all applicable rules, regulations, policies, and laws. For example, chief compliance officers must ensure that procedures within their company's manufacturing plants are in line with Occupational Safety and Health Administration (OSHA) safety standards.
Chief Compliance Officer Tasks
Conduct or direct the internal investigation of compliance issues.
Oversee and monitor activities for compliance with company, state and federal regulations.
Assess product, compliance, or operational risks and develop risk management strategies.
Conduct periodic internal reviews or audits to ensure that compliance procedures are followed.