Entries in board of directors (3)
The compliance profession has for years been beset by a debate with the outside world over the position of Chief Compliance and Ethics Officer (CECO). Should the CECO be part of the law department reporting to the general counsel? Or should the CECO be an independent, equal member of the C-Suite, reporting to the CEO with direct, regular access to the board? In my opinion and many others, this is the most consequential debate in the compliance field today.
What's the first thing compliance officers need to do? We'd say it's convincing management and board members they need an effective compliance program. That's not easy. It takes advocacy, and advocacy takes credibility.