Contextualizing compliance officers and their state of practice

Abstract

The compliance officers' (CO) profession has been evolving over the last few decades. The expectations placed upon the individuals holding such a position vary across jurisdictions, but they are all expected to ensure employees and management of the business entity comply with the law. Given the limited research on CO in Europe, and the increasing public interest in this profession, the current authors have carried out a survey in Cyprus in an effort to map out and contextualize the CO' profession. The findings illustrate CO's academic and professional qualifications, their awareness of their legal liability, the level of knowledge and job performance of their duties as prescribed by law, as well as gaps in the performance of duties as expected by management, boards, and regulators. The policy implications derived from the study suggest coherence and synergies to be found through common exam and postgraduate qualification in the field of financial compliance.

Perceptions of corporate communication on debated social issues

“…Participants took an online survey in Fall 2018. Online surveys “have been noted to be cost and time efficient” (Krambia‐Kapardis et al, 2019, p. 392; see also Minnaar & Heystek, 2013), and they provide a means to quantitatively rank the desirability of CSA in several ways, such as by topic or reason for involvement. The online sampling platform of Qualtrics was used to recruit participants.…”

La profesionalización de la función de cumplimiento: lidiando con la tensión y carencia de legitimidad

“…Además de las ya expuestas, Krambia-Kapardis et al (2019) señalan dos razones por las que hoy en día (incluso en los países desarrollados) la función de cumplimiento goza de una escasa legitimidad. Por un lado, y tal vez en respuesta a aquella ya mencionada mentalidad de obstrucción a los negocios, las áreas de cumplimiento han debido venderse como aliadas de los negocios: áreas que en lugar de obstaculizar permiten alcanzar los objetivos del negocio contribuyendo a su sostenibilidad.…”

“…Sin embargo, el problema radica en que es verdaderamente difícil afirmar que existen personas especialistas (desde la perspectiva académica) en temas de cumplimiento. De hecho, como señalan Krambia-Kapardis et al (2019), las personas que se dedican a estos roles tienen antecedentes académicos y profesionales muy variados y han debido formarse solas. Tampoco, y a diferencia por ejemplo de los abogados, el Estado o un ente de regulador les otorga una licencia, ni se les exige un curso de educación formal como requisito para desempeñar su función (De-Mott, 2013).…”

Directing Compliance Realities: The Determinants of Compliance Officer Effectiveness in Cypriot Organizations

“…In today's complicated and regulated business world, the function of Compliance Officers (COs) is critical Jamil et al, (2023)[1]; Krambia-Kapardis et al, (2019) [2]; Krambia-Kapardis et al, (2019) [3]; Norman et al, (2022) [4]; Pohlmann & Starystach, (2023) [5]. Krambia-Kapardis et al (2019) [2] discovered that about 82 percent of global organizations have a dedicated compliance function.…”

“…According to a survey conducted by Norman et al (2022), only 60% of COs believe they are appropriately qualified to manage compliance needs in their business, underscoring the gap between present competencies and the demands of the role. By 2025, the global market for compliance management software is estimated to reach $19.5 billion, indicating increased awareness and investment in this vital function Jamil et al, (2023)[1]; Krambia-Kapardis et al, (2019) [2]; Krambia-Kapardis et al, (2019) [3]; Norman et al, (2022) [4]; Pohlmann & Staystitch, (2023) [5].…”