Definition Compliance Officer. Description.
The Compliance Officer is the person or function (Compliance
Office) in a large corporation to coordinate that the company is in accordance
with relevant legal requirements and regulations, such as the
corporate governance regulations
issued by the SEC in the USA (Sarbanes-Oxley Act), or the Basel I, II and
III minimum capital requirements risk management regulations for financial
services firms.
The compliance function is an independent function
in an advisory role, aimed at controlling the risks that are relevant for
maintaining or strengthening the corporate reputation. However, the final
responsibility for controlling these compliance risks and for the definition
of integrity remains a task of the Executive Board.
The main personal qualities of a Compliance Officer
are discreetness, objectivity, independence, professionalism, and that he
should be experienced in relation to the activities of the corporation.
Furthermore, a Compliance Officer should have knowledge about legal,
economic, social, operational and commercial aspects and preferably have a
legal background.
|
Quotes on Compliance of Organizations. Quotations
"Hi, do you know of a remarkable, humorous quote by a famous person or a proverb related to compliance of organizations with the law and the role of compliance officers?
Please enter a reaction to share it for other people to enjoy! Please use this template:
Author Name Year of Birth - Year of Death, short characterization of author - The quote...
Thanks for contributing...!" |
|
|
|
Compliance Officer Special Interest Group
|
|
|
|
Compare with:
Corporate Governance
| Corporate Accountability
|
|
|
Compliance Officer Sponsor
|
|
|
|
Special Interest Group Leader
|
|
|
|
|
All you need to know about management
|
|
|
Management Smart Card
|
|
|
|
|
Log in
Would you like to be our 