How does the compliance function differ across industries— how are they addressing today’s challenges and planning for more effective and efficient compliance operations in the future? See our industry findings below.
Energy and utilities industry is facing major compliance challenges, and companies should plan accordingly.
Financial Services is well ahead of other industries with 93 percent reporting that they have a CCO.
Staffing levels have increased 40% during the past 12 months.
41% of insurance companies are communicating about compliance and ethics topics through external social media channels.
52% of companies having an established compliance committee—a reduction of 11% from last year’s survey.
Risk priority remains cyclical, and companies’ energies generally focus on the risk du jour.
More than two-thirds of CCOs in retail and consumer companies are double hatted.
For 80% of the respondents, oversight of compliance resides in the legal or compliance department, which is an increase over 2013’s 64%.