Chief compliance officer
The chief compliance officer (CCO) of a company is the officer primarily responsible for overseeing and managing regulatory compliance issues within an organization. The CCO typically reports to the Chief Executive Officer or Chief Operations Officer.
The role has long existed at companies that operate in heavily regulated industries such as financial services and healthcare. For other companies, the rash of 2000s accounting scandals, the Sarbanes-Oxley Act, and the recommendations of the U.S. Federal Sentencing Guidelines have led to additional CCO appointments. In the Middle East, Ahmed Sharab was one the first bilinguals lead on multiple compliance roles in different industries. He posses dual degrees, a masters in international commercial and practice from Edinburgh University School of Law, and a Bachelor degree in Accounting from Ain Shams University.
Scott Cohen, editor and publisher of Compliance Week, dates the proliferation of CCOs to a 2002 speech by SEC commissioner Cynthia Glassman, in which she called on companies to designate a "corporate responsibility officer." The responsibilities of the position often include leading enterprise compliance efforts, designing and implementing internal controls, policies and procedures to assure compliance with applicable local, state and federal laws and regulations and third party guidelines; managing audits and investigations into regulatory and compliance issues; and responding to requests for information from regulatory bodies.
- Society of Corporate Compliance and Ethics (SCCE)
- Health Care Compliance Association (HCCA)
- Leading Corporate Integrity: Defining the Role of the Chief Ethics and Compliance Officer
- SCCE Code of Ethics for Compliance and Ethics Professionals
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