SecurityBrief Asia logo
Asia's leading source of cybersecurity and cyber-attack news
Story image

The rise of the chief compliance officer – Digital Guardian

By Contributor
Thu 11 Oct 2018
FYI, this story is more than a year old

Article by Digital Guardian EMEA, VP and GM Jan van Vliet

With GDPR now in force, the position of chief compliance officer (CCO) has risen in prominence as a corporate coordinator and navigator of compliance issues.

But what exactly is the CCO, and does an organisation need one?

The Chief Compliance Officer (CCO) oversees and manages compliance issues within their organisation.

The role involves ensuring organisational compliance with various regulatory requirements and that employees are in adherence to internal procedures and policies. 

The CCO typically reports to the chief executive officer or chief operations officer.

The role of the CCO

The CCO should come up with corporate policies and procedures needed by their company for compliance.

He or she will then need to communicate these policies and train employees to avoid compliance mishaps.

The role also involves monitoring compliance and measuring and evaluating the level of compliance across the entire organisation.

The CCO is tasked with reporting to the board on everything related to compliance (from policy development and monitoring to enforcement and implementation).

In their role, the CCO coordinates with different departments including internal audit, employee services, and risk management to ensure that compliance issues are fleshed out, investigated, and resolved.

The CCO should also be proactive in identifying potential vulnerabilities and be able to address these head on with corrective measures.

They must also be able to come up with proper guidance on how employees and the company can avoid similar situations in the future.

Hiring a CCO

A good CCO must have a thorough technical and practical knowledge of the business.

This allows a CCO to envision and then supervise compliance solutions.

A CCO is responsible for designing the right policies and procedures and tapping into technologies needed for compliance.

A good CCO should also have great interpersonal skills, as they regularly interface with a variety of people, from C-level executives to the rank and file.

The CCO’s responsibilities take them from the boardroom, reporting on compliance issues, to top management and the board of directors, as well as to the manufacturing plant in order to train production workers on compliance.

Additionally, a good CCO is able to navigate legal matters with relative ease and build lasting positive relationships with regulators.

Superior multitaskers often make the best chief compliance officers as they need to make strategic decisions, supervise complex monitoring programs, manage and educate highly skilled professionals, and even talk with other departments on issues relating to risk and control.

What’s more, they need to stay up-to-date on what’s happening in their industry and stay informed about changes in regulatory requirements. 

Challenges of the role

Like any position, there are inherent challenges and risks faced by Chief Compliance Officers.

The first challenge is that the job is not really clearly defined. For example, some companies give the CCO role to their general counsel, thinking that it only involves legal concerns.

Then there is the challenge of not having the independence and authority to make decisions.

Ideally, the CCO works with the CEO, the board of directors, and other employees to make compliance second nature to the company.

However, conflicts of interest might arise, and for some departments, compliance might get in the way existing processes.

Another problem faced by CCOs is that they might not have the necessary resources to do their jobs, as compliance teams tend to be lean and underfunded.

However, investing in enterprise data loss prevention (DLP) software allows for deeper visibility and information control that can make compliance simpler and easier for the team.

DLP software extends a compliance team’s capabilities while increasing efficiency, making it an essential part of a successful CCO’s operations.

Despite the challenges, the role of a Chief Compliance Officer can be quite rewarding, and it’s a role that’s becoming increasingly important for modern organisations in heavily regulated industries.

As regulations continue to become more stringent and complex, CCOs will be in even higher demand as companies seek qualified professionals who are able to manage the complexities of the regulatory landscape.

Related stories
Top stories
Story image
Ivanti
Ivanti and Lookout bring zero trust security to hybrid work
Ivanti and Lookout have joined forces to help organisations accelerate cloud adoption and mature their zero trust security posture in the everywhere workplace.
Story image
BeyondTrust
BeyondTrust integrates Password Safe solution with SailPoint
BeyondTrust has announced the integration of BeyondTrust Password Safe with SailPoint identity security offerings.
Story image
SaaS
Absolute Software expands Secure Access product offering
Absolute Software is enhancing its Secure Access product portfolio, enabling minimised risk exposure and optimised user experiences in the hybrid working environment.
Story image
Tech job moves
Tech job moves - Datacom, Micro Focus, SnapLogic and VMware
We round up all job appointments from May 6-12, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Mitiga
Mitiga discovers potential hidden dangers in Google Cloud Platform’s (GCP) cloud control plane
The company also says that there is significant risk in cloud development caused by not recognising the differences between cloud and traditional definitions of common architecture terms.
Story image
Artificial Intelligence
IBM study reveals changing sentiments around AI ethics
80% of respondents pointed to a non-technical executive, such as a CEO, as the primary 'champion' for AI ethics, a sharp uptick from 15% in 2018.
Story image
Artificial Intelligence
Updates from Google Workspace set to ease hybrid working troubles
Google Workspace has announced a variety of new features which will utilise Google AI capabilities to help make hybrid working situations more efficient and effective.
Story image
Microsoft
Microsoft unveils three new security managed services
Security Experts includes three new managed services, Defender Experts for Hunting, Defender Experts for XDR, Security Services for Enterprise.
Story image
Secure access service edge / SASE
Versa Networks recognised as SASE leader in Govie Awards
Versa Networks has announced its SASE offering has been recognised in The Govies Government Security Awards competition by Security Today magazine.
Story image
Phishing
Google reveals new safety and security measures for users
Google's new measures include automatic two step verification, virtual cards and making it easier to remove contact information on Google Search results.
Story image
Training
Fortinet training edges toward closing cybersecurity gap
The Fortinet Training Institute has made significant progress in closing the cybersecurity skills gap, on track to train one million people by 2026.
Story image
Cybersecurity
HackerOne launches Attack Resistance Management solution
HackerOne has launched Attack Resistance Management - a new category of security solution that targets the root causes of the attack resistance gap. 
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Digital Transformation
Physical security systems guide the hybrid workplace to new heights
Organisations are reviewing how data gathered from their physical security systems can optimise, protect and enhance their business operations in unique ways.
Story image
APAC
Odaseva expands in APAC and UK with more security features
Odaseva, a data platform for Salesforce, is establishing new headquarters in London as well as a new data center in India.
Story image
Cybersecurity
World (un)Password day? Yubico releases MFA guide encouraging new ideas
In a slight departure from traditional World Password Day lore, Yubico has today announced a multi-factor authentication (MFA) guide.
Story image
Public Cloud
Radware announced launch of CNP spinoff SkyHawk Security
“We recognise the growing opportunities in the public cloud security market and are planning to capitalise on them."
Story image
Blue Prism
Blue Prism Desktop uses IA to defend against vulnerabilities
SS&C Blue Prism Desktop aims to help protect businesses against vulnerabilities, using a combination of security measures and intelligent automation tech.
Story image
Malware
Use of malware, botnets and exploits expands in Q1 2022
"As zero-day attacks and other vulnerabilities among companies like Google and Microsoft come to light, threat actors are quickly adjusting their tactics."
Story image
Phishing
Developments in phishing and how to protect your business
Phishing, the practice of sending malicious emails to encourage users to perform actions that benefit an attacker, is a key security concern for modern businesses due to its prevalence and impact.
Story image
Cybersecurity
Video: 10 Minute IT Jams - An update from IronNet
Michael Ehrlich joins us today to discuss the history of IronNet and the crucial role the company plays in the cyber defence space.
Story image
Apple
Jamf unveils new technologies for business security
Jamf has showcased new technologies it has developed to assist organisations in offering an enterprise secure and straightforward environment for consumers.
Story image
Cybersecurity
Global bot security market to reach US$2.5 billion by 2032
The global bot security market to reach US$2.5 billion by 2032 driven by a growing need for cyber security, according to a new report.
Story image
Cybersecurity
CyberArk launches $30M investment fund to advance security
CyberArk has announced the launch of CyberArk Ventures, a $30 million global investment fund dedicated to advancing the next generation of security disruptors.
Story image
Firewall
Sophos named Gartner Peer Insights Customers Choice for network firewalls
The company earned the highest overall customer rating among vendors with at least 150 verified customer reviews.
SonicWall
Find out how you and your business can prevent being caught out by everything from ransomware to cryptojacking.
Link image
Story image
Fortinet
Fortinet sees 34% revenue increase in latest financial results
Fortinet has released its financial results for the first quarter ended March 31, 2022, seeing a total revenue increase of 34.4% compared to the same quarter last year.
Story image
Machine Learning
Radware named Leader for application and API protection
“It is a reflection of our ability to innovate in key areas, such as automated API discovery, bot management, and behavioural-based ML algorithms."
Story image
Salesforce
Salesforce resets user passwords as GitHub breach investigation continues
Salesforce is increasing its security measures after a recent GitHub breach incident investigation reported in Heroku.
Story image
Cybersecurity
Companies rushing to secure print infrastructure
As the pandemic prioritised communication channels and the shift to remote work, IT departments fell behind in updating the security of print and IT infrastructure.
Story image
Appian
Appian awarded billions in damages against Pegasystems Inc.
Appian has been awarded USD$2.036 billion in damages against Pegasystems Inc as the result of a jury verdict in the Circuit Court for Fairfax County, Virginia.
Story image
Application Security
Data Theorem launches "industry first" attack surface management solution
"No solution uses full-stack application runtime analysis and dynamic inventory discovery to support the challenges around vendor management."
Story image
Malware
Sharp increase in phishing as cybercriminals leverage SEO to lure victims
"Malware lurking everywhere, from cloud apps to search engines, leaving organisations at greater risk than ever before."
Story image
Surveillance
Genetec launches new enclosure management system for data centers
Genetec has released a new enclosure management solution that will give data centers the ability to secure, monitor and manage access to racks and cabinets remotely.
Story image
Tech job moves
Tech job moves - Cisco, Hitachi Vantara, Tricentis & Zscaler
We round up all job appointments from April 28 - May 5, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Ransomware
Shopping for cyber insurance? Six questions to ask before calling the insurer
The cyber threat landscape has always been worrisome, but today these concerns are heightened given an anticipated uptick in cyber-attacks from bad actors.
Story image
Data Protection
Managed Service Providers key to customer data protection
Frequent cyberattacks in the ASEAN region drive the demand for MSPs that can deliver purpose-built security solutions for SME customers.
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Story image
Artificial Intelligence
ForgeRock releases Autonomous Access solution powered by AI
ForgeRock has officially introduced ForgeRock Autonomous Access, a new solution that uses AI to prevent identity-based cyber attacks and fraud.
Story image
Ransomware
Zerto unveils updates to ransomware recovery capabilities
"Organisations face increased risks from the volume and sophistication of ransomware attacks prevalent today."
Story image
VPN
Palo Alto Networks says ZTNA 1.0 not secure enough
Palo Alto Networks is urging the industry to move to Zero Trust Network Access 2.0 because previous versions have major gaps in security protection.
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
Microsoft
Apple, Google and Microsoft expands plans to get rid of passwords
FIDO Alliance says the world is closer to not relying on passwords after Apple, Google and Microsoft expands their support for a passwordless sign-in standard.
Story image
Cybersecurity
A10 Networks finds over 15 million DDoS weapons in 2021
A10 Networks notes that in the 2H 2021 reporting period, its security research team tracked more than 15.4 million Distributed Denial-of-Service (DDoS) weapons.