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Choosing the Right Chief Compliance Officer
Finding the right CCO isn’t a simple hiring decision for life sciences companies. They face a range of complex business, regulatory, and market challenges in a dynamic and heavily scrutinized environment. Creating and maintaining a culture of ethics and compliance isn’t about just about the CCO. It’s a decision that ultimately reflects an organization’s values. In large part, it’s about boards of directors and executive leadership defining ethics and compliance as organizational goals, alongside other commitments, like strong financial performance and innovative products to benefit patients.
Effective CCOs by definition help their organizations manage risk. They must have clear objectives for building or strengthening a compliance organization, and they must have sufficient authority and resources to be successful. CCOs must also be effective at engaging leadership in embedding a culture of ethics and compliance. There isn’t a ‘one-size fits all’ template for choosing a CCO – companies will have different skill and expertise requirements, based on their compliance program’s development or maturity.Read More
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