Compliance House
Officer Compliance
In order for a compliance program to operate effectively, compliance monitoring within the company is necessary and a good Compliance Officer is indispensable. After all, in general, a Compliance Officer within the company is not only an advisor, but he or she is also responsible for supervising compliance with the existing compliance program.
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Furthermore, the role of a Compliance Officer varies from company to company and depends on the choices a company makes in view of the nature and complexity of its activities. For example, a Compliance Officer can play an important role in preventing violations of integrity and can continuously encourage both management and employees to behave well and therefore abidance by the compliance program. If necessary, a Compliance Officer can influence culture within the company.
Compliance Officer Duties
A Compliance Officer can be engaged both internally and externally and therefore usually has the following duties and powers:
- supervision of compliance with laws and regulations, including the policy drawn up by the company itself;
- monitoring the integrity of the company and its employees;
- authority to investigate and report incidents in the context of compliance to the management and, if necessary, the supervisory authority (e.g. the Netherlands Authority for the Financial Markets);
- informing employees about the importance of compliance within the organisation.
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