Chief compliance officer job description and profile

The main duty of a chief compliance officer or CCO, in a company in to ensure that the company is being run according to laws and regulations and that no illegal practices take place in the company. The officer has right to investigate employees as well as the management personnel. She reports to the CEO of the company or directly to the Board of Directors. A CCO is required in all private and government enterprises.

Chief compliance officer duties and responsibilities

A CCO ensures that the company is running according to laws and regulations. The duties and responsibilities of a chief compliance officer are:

  • Keeping an eye on the functioning of the company and ensuring that neither the management nor the employees indulge in unethical or illegal activities
  • Investigate the different departments of the company and interact with the employees
  • Coordinating and organizing the compliance program and making sure that the program is executed to perfection
  • Formulating conduct guidelines in the company and organize a group to oversee the execution
  • Responding to the inquiries by the government bodies
  • Formulating plans and methods to ensure that the compliance rules are followed
  • Consulting corporate lawyers to ascertain law and order specifications
  • Ensuring that any outsourcing business in the company is according to the laws and also ensuring that the company or the individual who has been given the contract is eligible for the job

Chief compliance officer skills and specifications

The skills and specifications of a CCO are:

  • Exceptional leadership skills
  • Excellent communication skills
  • Excellent analytical, logical and statistical skills
  • Keen eye for detail in order to spot minor malpractices
  • A thorough knowledge about corporate law
  • Good organization skills

Chief compliance officer education and qualifications

The education and qualifications of a CCO are:

  • A bachelor’s degree in corporate law and regulations
  • A master’s degree is a huge advantage to aid quick professional growth

Many companies require at least 8 to 10 years experience in health care administration.

Chief compliance officer salary

The salary of a CCO ranges between $74,471 and $150,398.