What is the primary responsibility of a compliance officer?

The primary responsibility of a compliance officer is to ensure adherence to regulatory requirements and internal policies. This role is crucial within any organization, particularly in highly regulated industries such as finance. Compliance officers develop, implement, and monitor policies and procedures to ensure that the company operates within legal frameworks and industry standards. They conduct audits, oversee compliance training, and stay updated on changing regulations to mitigate risks related to non-compliance. Their work helps protect the organization from legal penalties, financial losses, and reputational damage, ultimately ensuring that the business operates ethically and sustainably.