CCO Insight: Operational Challenges in Compliance

How are chief compliance officers (CCO) navigating operational challenges within Compliance? KPMG client CCOs share many key insights. Included below are a few examples, as well as the KPMG approach:

Objective	Operational Challenge	Example Action to Address Challenge
Implement a data driven compliance program	Requires tech and data-driven skillsets in Compliance	Leverage existing data and analytics talent in other enterprise functions such as Risk Management, Finance, and Audit
Maintain/ Increase Compliance resourcing	Necessitates appropriate number and skills of Compliance professionals	Seek talent through internship and young professional programs to develop a pipeline of entry-level employees
Establish effective compliance controls	Embedding compliance controls upfront and through process lifecycles	Establish relationships and accountabilities with the first line to incorporate Compliance controls early in the process/product development
Integrate automation into Compliance	Increasing organizational awareness of Compliance tools and technology	Develop data analytics and predictive modeling for Compliance monitoring and risk management

KPMG Perspective

To address operational challenges within Compliance, it is critical that companies view the investment and transformation of Compliance as value-generating versus simply “back-end costs”. Viewing Compliance as an investment can help measure its return during ongoing compliance improvements while propelling the organization toward greater effectiveness, sustainability, and efficiencies in its compliance efforts.

Implementing a data-driven approach, investing in strong data governance and controls, maintaining resources, establishing effective controls, and implementing automation will help to create a dynamic and continuously improving Compliance program.