Compliance officers are under increasing pressure to demonstrate to senior officers, their boards, and regulators that the compliance function works. At the Compliance Week 2012 conference, a panel of executives shared their approaches to measuring compliance program effectiveness.
Measuring the effectiveness of a compliance initiative can help an organization better manage its risks and prioritize its goals. Yet members of the panel agreed that finding good compliance metrics is among the most difficult tasks facing compliance officers. And some say they spend too much time gathering data rather than analyzing it.
