- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-12-19T22:38:00
Compliance teams most often report to their firm’s legal department, Compliance Week’s “Inside the Mind of the CCO” survey found. However, heavily regulated companies and those with fewer employees are more likely to have compliance directly under the chief executive officer.
Of the 322 total respondents to the survey, 39 percent said their compliance department reported to legal. This was followed by reporting to the CEO (34 percent); a board committee (21 percent); the board itself (17 percent); or the chief operating officer, chief financial officer, or chief risk officer (9 percent each). Multiple responses were allowed.
Amy Matsuo, principal and national leader, compliance transformation and regulatory insights at KPMG, said there is no one best reporting structure.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Register for free
Access one free, non-premium article each month.
Complimentary CPE webcasts, resources, and e-Books.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Many ethics and compliance programs have refocused their efforts away from bribery and corruption and onto data security and privacy, complex government regulations, artificial intelligence security, and other contemporary challenges, a survey from LRN found.
The Walt Disney Company is reportedly parting with Chief Compliance Officer Alicia Schwarz, whose responsibilities will be assumed by General Counsel Horacio Gutierrez.
Todd Hartman, general counsel and chief risk officer of Best Buy, shares the catalyst behind revamping the retailer’s second line of defense and the lasting benefits of separating compliance from legal.
A new report on corporate whistleblowing and hotline trends in 2023 found reporting volume at an all-time high, with key disparities uncovered between reports filed by third parties and those filed by employees.
Nearly 800 financial crime professionals said the biggest threats to the effectiveness of their anti-money laundering programs are budget cuts and their inability to keep pace with more aggressive and innovative uses of technology by criminals to commit fraud.
Just 25 percent of corporate leaders felt their organizations were highly prepared to handle the governance and risk issues posed by generative artificial intelligence, a Deloitte survey found.
