With the rise of compliance management, companies are creating new titles and responsibilities. A compliance team can be one person or an entire department. No matter how many people you have on staff, your compliance team should have five areas of responsibility: identification, prevention, monitoring and detection, resolution, and advisory. Here are a few roles you might want in your compliance management tiger team:
- Compliance manager. A compliance manager stays up-to-date on relevant laws and regulations and ensures that the company adheres to them to minimize financial and legal risk.
- Data protection officer. A data protection officer is responsible for creating and managing a company’s data protection strategy and implementation.
- Risk management officer. A risk management officer identifies vulnerabilities and risks that an organization faces and advises on how to avoid or address them.
