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 Creative Officer) The executive person in charge of a company's brand and image. In a design firm, the CCO oversees the art directors and artists. In a startup, the CCO may hold a very prominent position.

(3) (Chief Cloud Officer) The executive person in charge of an organization's deployment of cloud services. CCOs are responsible for selecting cloud computing providers as well as overseeing the migration to cloud platforms. Cloud security and governance also fall under the CCO's jurisdiction. See cloud computing and XaaS.

(4) (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.
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References in periodicals archive ?
Since the 2008 financial crisis in the U.S., regulations have been set to ensure that such financial misconduct will never occur again, which has translated into heightened compliance needs, and thusly the growing importance of the chief compliance officer. Legislation such as Dodd-Frank have put standards in place that are slowly being integrated into the roles of financial institutions as the Securities and Exchange Commission fleshes them out.
Southern Company (NYSE: SO), an energy company serving the US Southeast through its subsidiaries, has named James Y Kerr II as its general counsel, chief compliance officer and executive vice president, effective March 8.
Thomas Jr., chief compliance officer Susan Christina, and former owner and chief compliance officer Stephen Derby Gisclair, they failed to adopt and implement written compliance policies and procedures and conduct annual compliance reviews to satisfy the Compliance Rule.The Equitas firms made false and misleading disclosures about historical performance, compensation and conflicts of interest, and they inadvertently yet repeatedly overbilled and underbilled their clients.
Yellowstone Capital LLC, a New York-based fintech and alternative financing company, has announced it has appointed Tangela Griffin to the position of Chief Compliance Officer, the company said.
Lannett Company Inc (NYSE: LCI), a company that develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical indications, announced yesterday that it has promoted Kristie Stephens as the vice president of regulatory affairs and chief compliance officer.
10 traits of a good chief compliance officer: Lessons from polar exploration
Amgen (NASDAQ: AMGN), a company that discovers, develops, manufactures and delivers human therapeutics, announced on October 12 that it has named Cynthia M Patton as its senior vice president and chief compliance officer, effective October 22, 2012.
BANKING AND CREDIT NEWS-October 30, 2018-Artivest names general counsel, chief compliance officer
Global Banking News-October 30, 2018-Artivest names general counsel, chief compliance officer

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