Life as a Chief Compliance Officer is not so easy. The job, as defined, means living with day-to-day risks, any one of which is significant enough to damage or even destroy the company for whom you work. CCOs learn to live with risk.
When a CCO has the backing of the board and the CEO, their job is relatively easier. That does not mean it is an easy job. To the contrary, every CCO has their challenges in their company to secure adequate resources, to gain the cooperation of other business components, and to persuade senior managers and employees that ethics and compliance is important to the company bottom line.
The inherent difficulty for the CCO is to demonstrate his or her importance to an organization by proving a negative – we have not had any serious law violations because of the existence of the company’s ethics and compliance program. That is a hard argument to make, but luckily it is intuitive and it naturally appeals to intelligent senior managers and a CEO.