CCO

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CCO

(1) (Chief or Corporate Compliance Officer) The executive person in charge of compliance issues, regulatory requirements, internal controls and managing audits within an enterprise or organization. Hiring for the position of CCO became popular in the early 2000s as a response to accounting and fraud scandals of such companies as Enron, Tyco and WorldCom, which were involved in corporate governance and financial disclosure problems. Legislation to ensure responsible reporting was passed, and policy compliance became a significant focus of upper management everywhere. See Sarbanes-Oxley Act.

(2) (Chief Confusion Officer) The head of the confusion department in large software companies who oversees the group that ensures that the next version of their software will mystify all previous users and drive them batty.
References in periodicals archive ?
Internet services company VEON Ltd (NASDAQ:VEON)(Euronext Amsterdam:VEON) disclosed on Wednesday the election of Josh Drew as its group chief compliance officer.
Home Point Financial Corporation, a national multi-channel mortgage originator and servicer, has said that it has appointed Ross Gloudeman as its chief compliance officer.
Clinician services company TeamHealth reported on Wednesday the election of Jennifer Morrison as its chief compliance officer effective 16 May 2017.
Rob Easton, Chief Compliance Officer, Risk and Insurance Services, Marsh & McLennan Cos.
Pharmaceutical business Pernix Therapeutics Holdings (NasdaqGM:PTX) disclosed on Friday the addition of Ken Pina as senior vice president, general counsel and chief compliance officer.
Albino will be based in Tampa and report to Daniel Wright, NPH chief compliance officer.
The SEC said Key Energy's new chief compliance officer oversaw (1) the suspension of payments to all vendors and third parties in Mexico shortly after the independent investigation/internal review began; (2) the engagement of a manual review of over 600 vendors in Mexico for purposes of clearing legitimate payments and assessing whether to move forward with those vendors in current and future operations; (3) reviewing all vendors in use in Russia and Colombia and instituting an enhanced due diligence procedure for all vendors globally; (4) establishing enhanced financial controls around payment processes in Mexico, Colombia and Russia; and much more.
There should be a sign-in sheet, which should be retained by the chief compliance officer as part of the firms compliance records.
Easton reports to Jim McNasby, General Counsel for MMC's Risk and Insurance Services segment, which includes Marsh and Guy Carpenter, and to Carey Roberts, MMC's Deputy General Counsel & Chief Compliance Officer.
He previously served as Chief Compliance Officer for Van Kampen Investments, a mutual fund complex with over $80 billion under management.
The new senior vice president, chief compliance officer and deputy general counsel serves as senior vice president, chief compliance officer, corporate secretary and general counsel for subsidiary Georgia Power.
Beeler joined the company in 2013 as associate general counsel and chief compliance officer and was promoted to senior vice president, legal and chief compliance officer in January 2015.

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