in financial services law, a person employed by a financial group operating in a variety of fields and for multiple clients to ensure that no conflict of interest arises and that all obligations and regulations are complied with.
"Although we occasionally bring enforcement actions against compliance personnel, compliance officers who perform their responsibilities diligently, in good faith, and in compliance with the law are our partners and need not fear enforcement action," White told compliance officers at the National Society of Compliance Professionals annual meeting in Washington.
Dohmen said technology also has helped enhance the position of compliance officer. "The use of computers and the Internet has made it much easier for customers to become more knowledgeable about insurance products, and it has allowed both the departments of insurance and insurance companies to be more accessible by customers," he said.
Jobes held leadership positions across a number of biopharmaceutical companies, including senior vice president, chief compliance officer for Auxilium Pharmaceuticals, Inc.; vice president, chief compliance officer for Adolor (Cubist) Corp.; and senior director, Global Compliance for Cephalon, Inc.
Be that as it may, while the compliance officer is the primary implementor of the compliance program, its implementation would be more successful if there is shared responsibility among all the members of the organization, including the board of directors, since everyone ultimately benefits therefrom.
He has completed the Mississippi School of Banking sponsored by the Mississippi Bankers Association as well as the ICBA Compliance Institute which recognizes him as a Certified Community Bank Compliance Officer.
During that meeting, senior management should also make clear that the chief compliance officer speaks for senior management relative to compliance matters, and that what applies to the most junior staff member also applies to the most senior staff member.