BEST PRACTICES

A topic often raised by compliance officers and the bosses who love them.

1

Regulatory Knowledge

A CCO must have an in-depth knowledge of the laws, regulations, interpretations, and regulatory positions as well as the firm’s compliance policies and procedures and their implementation.

2

Firm Knowledge

A CCO must become intimate with the firm’s organization, finances, clients, and culture.

3

Industry Experience

An effective CCO must advise his/her firm’s executives about how other industry players implement products, develop structures, work with the regulators, and utilize technologies.

4

Analytical Intelligence

Dynamic firms in dynamic markets require a CCO who can be flexible to adopt new approaches, yet professionally skeptical of unproven methods, products and structures.

5

Diplomatic

Knowledge and experience will only go so far if a CCO does not have the political skills to convince business executives.

6

Calm

A CCO must always display grace under pressure and show confidence regardless of the situation and implications.

7

Fearless

A CCO must exercise independence with senior executives and put personal issues aside while tackling difficult issues even in the face of possible personal liability.