New Chief Compliance Officer

The resources and tools you need for a fast start in the chief compliance officer role

A Guide for New to Role Chief Compliance Officers

New chief compliance officers face an overwhelming number of tasks during their first few months, and they often struggle with making a smooth transition.

The solution? Creating a detailed plan for the first year in your new role. 

Use the insights, advice and other tools included in this 12-step guide to accelerate your transition and drive impact at your organization. 

Download the Action Plan

Make a fast start in your chief compliance role with these 12 steps.

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    High demands make a fast start in a new role difficult: 46% of new executives tumble and underperform

    New chief compliance officers struggle with demands

    When making the leap to a new position, almost half (46%) of executives across all functions underperform. At a time when the compliance officers are challenged to effectively manage the risks of modern business, new chief compliance officers need to find their feet fast and lead boldly.

    High demands make a fast start in a new role difficult: 46% of new executives tumble and underperform

    Chief compliance officers need to approach compliance risk management differently

    Chief compliance officers who empower the wider business to own compliance risk succeed on two fronts: They free up space for strategic work which supports business growth and drive employee ownership of compliance risk, ultimately leading to better risk prevention and mitigation.

    Bar graph displaying the empowered employees are: (1) 31% more likely to act on an observed risk, (2) 13% more likely to report an identified risk, and (3) 40% more confident in their ability to own compliance risk.

    How we address your top chief compliance officer challenges

    Gartner’s research provides crucial insights on the compliance function as well as best-practice templates and tools to help you make a fast start in your new role as chief compliance officer. Use our resources to assess the current state of the function, map out next steps and implement your plans confidently.

    Put your compliance strategic plan one on page

    Save time and execute with confidence when creating your 2021 strategic plan for compliance. Use this one-page template to communicate your strategy with internal business partners.

    Focus on the compliance areas that matter most

    Compliance leaders are searching for ways to improve their department, but competing priorities leave them wondering where to focus attention, time and money. Use our key activities map to build the right plan for your function and the wider organization.

    Report to the board on corporate culture

    Your first board presentation is a chance to set out your vision for the function. Use this customizable template to lead an effective board discussion on company ethics and culture, and outline next steps for compliance risk mitigation and management.

    Questions about becoming a Gartner client?

    Compliance questions Gartner can help answer

    Chief compliance officers (CCOs) are responsible for designing, implementing and monitoring the processes by which the company will comply with all applicable laws and regulations. This frees general counsel (GC) to take a more strategic legal and risk-tolerance approach.

    A successful CCO needs the skills to:

    • Evaluate current compliance program activities and gauge their effectiveness and impact. 
    • Absorb data and analytics to evaluate the ongoing ROI of a program, while also identifying opportunities for program improvements and risk mitigation. 
    • Monitor third and fourth-party compliance activities, keeping in mind the realities of the organization’s newly extended enterprise. 

    An effective compliance program manages corporate compliance with strategic and legal requirements and the principles of ethical culture. It demonstrates results via staff skills development and target achievements, while empowering business leaders to mitigate risk throughout their organizations.

    The key areas of compliance risk include:

    • Code and policy management — CCOs need to create, update and manage compliance and ethics policies to ensure successful implementation and policy adoption throughout the organization.
    • Compliance function strategy, structure and metrics — CCOs are to outline peer benchmarks and best practices to establish compliance program goals and objectives. This will help create a long-term strategy and structure to establish metrics and monitoring processes to demonstrate effectiveness. 
    • Compliance risk response strategies — CCOs must monitor and respond to changes in compliance risks. 
    • Allegations reporting and investigation — CCOs are to benchmark the volume of allegations and the organization’s investigation processes to increase the efficacy and efficiency of compliance and ethics. 
    • Compliance talent management — CCOs are to identify and improve key skills and competencies for compliance and ethics staff members across their organization. 

    The CCO of today is someone who has expert capability to manage and implement strategic compliance programs, while still establishing processes for accountability and transparency, particularly in emerging and evolving risk areas, such as those associated with digital transformation.  

    Looking at the corporate landscape of the future, CCOs will need to have even greater management skills equipped to deal with changing global markets and the shifting legal requirements for organizations to fulfill their required compliance vital for business growth and corporate strategy.

    Gartner is a trusted advisor and objective resource for more than 14,000 organizations

    Our compliance research and advisory services are designed to help you keep up with the fast-paced changes in the regulatory landscape, manage misconduct risk inside the business and ensure compliance along the supply chain.