Brazilian state-owned oil company Petrobras said last month that it has approved the newly-created position of executive director of governance, risk and compliance—and at a time when the company faces several investigations for its involvement in a widespread money-laundering and bribery scandal.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...