CIOs Playing Large Role in Compliance Efforts

By Dennis McCafferty  |  Posted 07-09-2013

CIOs Playing Large Role in Compliance Efforts

Top Gun  80% of organizations have a chief compliance officer or head of compliance, and about one-third have had one for more than 10 years.

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

Lofty Status  24% list the head of compliance as a senior vice president or executive vice president, and 16% consider this position as C-suite level.

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

People Power  37% have increased staffing for compliance within the last 12 months, and only 7% have decreased such staffing.

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

A Funded Initiative  36% have increased the budget for compliance in the last 12 months, and only 8% have decreased it.

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

Major Assist  71% rely upon technology to conduct training for risk and compliance initiatives—the top function that tech performs in this area.

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

Other Top Tech-Supported Compliance Functions  Document management: 57%Employee surveys: 53%Case and incident management: 44%Policy management: 44%Audit management: 40%

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

Top Areas of Risk for Organizations  Data privacy: 32%Industry-specific regulations: 31%Corruption and bribery: 28%Strategic risk: 20%Safety and environment: 18%

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

A Minor Concern  Only 4% of organizations consider social media to represent a major risk.

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

Social Standards  65% have launched a policy related to employee use of social media.

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

A Watchful Eye  57% monitor social sites for postings that would suggest potential misconduct.

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

Due Diligence  45% review public social media as part of a pre-hiring screening.

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

Useful Tools  29% use social media as part of its ethics and compliance program, and 42% communicate about this topic via external social-media channels.

CIOs Playing Large Role in Compliance Efforts

CIOs Playing Large Role in Compliance Efforts

A Working Plan  84% believe the compliance program is helping achieve its goals.

CIOs Playing Large Role in Compliance Efforts