Dear CCOs: There’s still no crying in Compliance!

Dear CCOs: There’s still no crying in Compliance!

Donna Boehme – Compliance & Ethics Professional – August 2015

still no crying

Remember a few years ago, when we began a conversation in our profession about the supply/demand aspect of our field? Refresher: It is especially important—even as Compliance is being touted as the “hot trade” on Wall Street—that compliance professionals continue to demand opportunities that are positioned for success. Although there is no perfect one-size-fits-all structure for a CCO role positioned for success, there are five essential features of a well-designed Compliance 2.0 role and, by extension, a well-designed compliance program: empowerment, independence, line of sight, seat at the table, and resources.

The ages-old Compliance 1.0 model is fatally flawed because it usually reflects few or none of these critical features, and otherwise does not position the CCO or compliance program to effectively achieve its mandate to find, fix, and remedy problems, as I’ve noted here. By contrast, Compliance 2.0 equips and empowers the CCO to lead and oversee a robust, world-class program that is positioned for success.

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