How To Establish an Effective Chief Compliance Officer's (CCO) or Chief Risk Officer's (CRO) Function - Organization and Responsibilities - NASBA CPE 2.4
- Speaker:Javier F. Kuong
- Date: 5th December 2018 11:00 AM PST | 02:00 PM EST
- Product Code:GRC-90483
- NASBA CPE: 2.4 CPE Credits
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This training will provide valuable knowledge on what companies need to do to establish an "effective" Compliance Office that leads to conceiving, developing and implementing successful GRC programs and provides top level coordinating leadership for governance, risk management and compliance issues across the enterprise.
Information Technology and other Business Support Services are under great pressure to be identified with business value and performance measurement concepts. Any service provided, either internal or outsourced, requires a set of criteria for reaching agreement on and measuring the performance of the services rendered. This need has been further enhanced with the advent of outsourcing of services and business processes. The use of SLAs is not only for just IT outsourced services anymore but also for internal service provisioning of any business service that is vital to supporting the critical business processes required to run a successful enterprise.
In today's performance-oriented business environment service level agreements are not only for physical, utility services, networks and IT infrastructure but any support service that enables the key business processes of an organization.
- Why Do You Need a Chief Compliance Officer or a Chief Risk Officer (CRO)? – Key Drivers
- What is the Nature of the CCO/CRO Function? – Traditional vs. Modern View of these functions
- What are the Key Functions of a CCO and a CRO? Some differences in the Charter for these two functions
- To Whom Should the CCO/CRO Report? – Organizational Structure Options
- What Is the Compensation for the CCO?
- What Are The Key Factors that Contribute to a Successful CCO or CRO Function?
- Excerpts from a Sample Functional Charter
- Mistakes to Avoid When Hiring Chief Compliance Officers or Risk Officers
Why Should you Attend?
The regulatory environment created by Sarbanes-Oxley, GLB, HIPAA and countless new regulations make it imperative that organizations, large and small, establish an effective Compliance Office (CO) headed by a C-level Executive in the form of The Chief Compliance Officer (CCO) or, more recently, The Chief Risk Officer (CRO). The Board, the CEO and other line and staff executives need to rely on one single source for meaningful information on the company’s status on risks that can impact Company activities and profitability and compliance to regulatory mandates. They need to rely on one authoritative entity to develop risk management and compliance strategies and spearhead and coordinate Governance, Risk management and Compliance (GRC) programs on an "enterprise-wide" basis.
Selecting an effective CCO/CRO with a broad vision and perspective and with the proper skill set to enable him/her to function in the current 'global' regulatory environment requires that you consider many key factors to ensure the success of the new function. This unique webinar will focus on these key factors. It offers a strategic and top-down view of this important new function and how it can materially assist management in establishing a function with an aggregate view of Governance, Risk Management and Compliance to replace the highly fractionated structure that was typical of previous risk and compliance functions that functioned at mainly the tactical and operational level. By having a top-down functional charter, the new function would facilitate the involvement of the Board and senior management in addressing the most important areas of governance and compliance in the most cost-effective manner to maximize return on investment in governance and compliance with limited resources.
Who Will Benefit:
- CEOs, Board members and Audit or Corporate Governance Committee Members
- CFOs, Controllers and Accounting professionals
- CIOs, CTOs and IT professionals
- Chief Compliance Officers (CCOs), Chief Risk Officers (CROs)
- Legal Counsel, Human Resources and Public Relations
- Internal and external Auditors
- Senior Risk Management and Operational Risk Officers
- Consultants and risk, compliance and governance advisors
- Compliance specialists
- Compliance, risk management and governance product vendors
- Any line manager or employee responsible for developing and deploying governance and compliance programs
- Quality Assurance Managers Any manager of service professional that needs to measure service performance and needs to develop their service SLAs
- This webinar will provide valuable knowledge on what companies need to do to establish an "effective" Compliance Office that leads to conceiving, developing and implementing successful GRC programs and provides top level coordinating leadership for governance, risk management and compliance issues across the enterprise.
Javier F. Kuong, is the President and Principal Consultant of Management Advisory Services & Publications (MASP), an organization that for over 30 years has been devoted solely to consulting, training, publications, research and development in Enterprise and IT Governance, Compliance, Auditing, Risk Management, Security, and Business Continuity Planning on a global basis. His previous experience includes positions as CIO/IT Director, Senior Manager for a major four CPA firm, Consulting and Management training in the areas of his expertise. He is the author of 40 books and treatises, including 3 books on Sarbanes-Oxley compliance, GRC, IT Governance, and Internal Controls for SMBs (Small and Medium size businesses). He is also the editor of COM-SAC, Computer Security, Auditing & Control and CPR-J Contingency Planning & Recovery Journal. He has lectured in all regions of the world in Conferences, seminars and for many independent Professional Training Institutes and Professional Associations. He is the recipient of the New England ISACA Chapter nomination.