Chief compliance officers are executives (part of the C-suite) who oversee the regulatory issues that an organization faces. They may also be the company’s or organization’s chief counsel or legal compliance officer. In a large organization, the fractional CCO oversees and manages the entire compliance team, which may also include IT personnel.
Without a CCO, a company may assign unqualified employees to respond to requests for regulatory information. They may also be vulnerable to cyber-attacks and fail to plan for a cyber emergency. Some fields, like the healthcare industry, have a complex set of regulatory rules (like HIPAA and FDA regulations) that must be followed. Across all industries, maintaining ADA compliance and ensuring client/customer data is secure isn’t just important — it’s oftentimes federally mandated.
When you hire a virtual fractional compliance officer with DAP, you access:
Immediate insight.
Hiring a DAP VCCO (virtual chief compliance officer) means you can address regulatory issues immediately. A virtual compliance officer has the outside perspective that helps them respond to high-level concerns and triage compliance issues, promptly addressing regulatory issues. Then, you can handle these expeditiously and effectively.
Industry-specific experience.
DAP’s VCCOs are highly skilled and experienced, bringing expert-level knowledge of the regulatory affairs of your specific industry. If you need help with HIPAA compliance, the VCCO with which you are matched has a firm understanding of HIPAA compliance.
Team training.
A DAP VCCO can help train your existing compliance team and/or employees, empowering them with the skills and insights needed to avoid regulatory violations. Compliance is a forethought. A DAP VCCO is also helpful in finding and hiring qualified compliance personnel to add to your team.
A DAP VCCO maintains the same effectiveness as an on-staff CCO but in a virtual environment and for a cost within reach of a mid-sized business.