What is a compliance officer?
The CCO must have a thorough understanding of regulatory requirements and stand firm in the face of challenge, especially when what is “right” is the subject of debate and interpretation among the CCO and members of the advisory firm. What the rules mean in a given situation involves a fact-based analysis. Part of the compliance process involves the ability to interpret the facts correctly and then negotiate or present the points to management in a compelling manner.
We are a nation of laws, rules, and regulations. These laws, rules, and regulations are put in place to protect the public. Otherwise, businesses or people will be looking for ways to cut corners to the detriment of the general public. This is where compliance officers come in. Their job is to make sure businesses or people are following the laws, rules, and regulations. Compliance officers can be found in various areas of our lives. Some of them are: a. The National Bureau of Labor working for Occupational Health and Safety Administration (OSHA) to make sure working conditions of businesses are safe for employees. b. The Environmental Protection Agency (EPA) to monitor hazardous waste disposal, water and air pollution, and other environmental related issues. c. Businesses to help them stay in compliance with relevant rules and regulations. d. Etc. A typical compliance inspector has to make sure of certain things in the course of performing his or her duties. Some of those things are:
Related Questions
- What is the name and address of the Designated Officer/Compliance Officer of the company who is responsible for assisting and handling investor grievances?
- May a compliance officer who reports outside athletics (to the president) provide the outside review of the compliance program?
- What can the Quality Assurance and Compliance Officer (Special Needs) do?
