It is not every day that compliance managers are compared to Renaissance men, but if you read Protiviti’s publication, The Art & Science of Compliance
, you will understand why today’s chief compliance officer (CCO) is to be perceived as exactly that.
Long gone are the days when CCOs were primarily responsible for writing compliance policies and procedures. The role of the compliance officer is expanding rapidly, and this has broadened the range of skills required to become an effective head of compliance. Robust risk management capabilities and technological know-how are essential skills, but the modern CCO also needs to be proficient at developing and maintaining strong relationships with internal and external stakeholders. No compliance officer can practice his or her art successfully without this support.