The ethics and compliance office is home for an organisation’s ethics and compliance program. The choices an organisation makes about it’s staffing, structure and resources will significantly impact the effectivenesss of the ethics and compliance program. Many mid-size and large organisations typically designate one high-level individual to serve as the Chief Ethics and Compliance Officer (CECO). The Chief Ethics and Compliance Officer (stand alone or as a member of a team) should be an essential and important function in organization. But, is it the case?
What is the CECO’s real everyday practice and routine? What are their experiences and obstacles encountered?
We’ll try to reveal answers to those questions during the panel discussion with CECOs themselves. In addition, we’ll ask them:
- Who’s accountable for your organisation’s ethics and compliance program?
- What’s the reporting structure within your organisation? To whom you report?
- Do you have proper level of independence? Do you have direct access to Board of Directors, Top Management and Key-Executive decision makers?
- Is the leadership of the organisation knowledgeable and supportive of the ethics and compliance program and your function itself? Is it strongly and visibly commited to ethics and compliance?
- Do you have credentials that allows you to be accepted as a high-ranking and valuable officer of the organisation and a respected member of the senior executive team?
- In your opinion, what is the qualification, prior experience, training and educational background of the ideal CECO? What else is valuable?
- What responsibilities you have to undertake? Who is responsible for building and maintaining organisation’s culture?
- Are you properly staffed, given the appropriate resources and provided with an adequate budget?
- What’s your interface with management, control, audit, human resources, finance department?
- What mechanisms are available to employees to report suspected wrongdoing? How frequently is each used? What’s the statistic? Do you have a hot-line?
- How often do you reach for/get an outside, independent additional expertise, advice and education?
- Does the organisation use performance management tools, such ascompensations, bonuses and promotion to help ensure that employees take ethics and compliance seriously?
And so on…