When should you hire a compliance manager?

When should you hire a compliance manager?

AU Energy Compliance, Financial Services
If you're wondering if it's time to hire a compliance manager, ask yourself how often you think about regulatory compliance and whether your business is across all regulatory obligations with appropriate controls in place. If the answer to the last question is not enough or no, it may be time to take on such an employee. A dedicated compliance manager can immediately free up precious time for other members of senior management by taking on the compliance burden. With a specific person tasked with staying up-to-date on regulation changes, communicating new requirements and emerging issues, developing and implementing policies and procedures as well as conducting routine audits, you'll have more resources to focus on growing your business. You know you need a compliance manager when... You want to avoid penalties…
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