As many compliance officers know, being a compliance department of one, even with some administrative support, is difficult enough. What if you’re an organization’s first-ever compliance officer? How do you go about building a program from scratch?
The initial and most important step is ensuring that the program is correctly positioned, says Donna Boehme, principal with Compliance Strategists. “The correct selection, positioning and structuring of the compliance officer and compliance function within the company—getting this step right can make the difference between good self-governance and becoming the next Wall Street Journal headline.”
