Chief Compliance Officer

The role of chief compliance officer has changed dramatically over the last decade with the implementation of new regulations and standards. The chief compliance officer must ensure compliance with a broad range of laws, regulations, and internal policies across a range of internal operations and departments. It is a major undertaking to get that right, be able to demonstrate to the regulators that you are in control and to assure your board and senior management that the organization is not at risk because of compliance shortcomings.

Most often, the chief compliance officer is now a member of the C-suite and is in the spotlight.  The chief compliance officer has to put in place a very comprehensive and robust compliance program which takes into consideration all these new requirements affecting their industry and operations, while staying ahead of the curve by anticipating new requirements coming down the road.

Stakeholders look to the chief compliance officer to be on top of key risks in all facets of the business. This is a very challenging task; especially in a global environment where regulations are increasing and notions of corporate responsibility are evolving. Your business innovates and is always looking for new ways to carry out operations, new avenues for revenue, strategic partnerships, and joint ventures in emerging markets.  The chief compliance officer must be a step ahead of these potential risks. You really need to be as innovative with your compliance program as the business is with its operational programs.

  • The breadth of compliance is increasing.  This complexity is reflected in new regulations and guidance, changes to the business environment and requirements to monitor third parties.
  • Every organization relies on third parties including suppliers, providers, partners and agents.  Their actions can have an adverse impact on your organization and you need to monitor and minimize that risk.
  • Compliance responsibilities and activities may be distributed across your organization. Coordination becomes a much larger challenge as you seek to balance effectiveness with minimal overlap and redundancy.

How we can help

Supplier Risk and Performance Management automates the myriad of spreadsheets most organizations use to monitor their suppliers, business associates and agents.  Automating this process makes it much more efficient and effective, allowing you to identify and correct problems rather than just focusing on gather data.

Our Privacy Impact Assessment enables your team to identify any project, initiative or partnership that could have an impact on your compliance.  It allows your team to provide detailed and customized guidance as to what your employees and partners must do to ensure compliance.  Finally, it allows you to monitor progress, manage any corrective action and be fully prepared for an audit.

Third Party Anti-Corruption helps you meet the need to have a monitoring and attestation process to meet the requirements of FCPA, UK Bribery and other regulations.  Most FCPA issues involve third parties and it is critical that you can demonstrate a reasonable level of diligence.

Medicare Advantage Compliance provides a cost effective way to meet your obligations to assess your contract holders, business associate and downstream entities to enable your team to demonstrate full compliance.

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