Accenture’s 2016 Compliance Risk Study has uncovered good news and bad news for the compliance risk function.
On the plus side, demand on compliance is growing, both in scale and in complexity. But the increased need has been met with slowed growth in the compliance function’s stature.
To keep pace with demand, the compliance function will need to change. But how?
The Accenture 2016 Compliance Risk Study results point to several trends—as well as a need for the function to offer more tangible, sustainable outcomes.
The Trends. Compliance function at a crossroads.
- Demands on compliance have been rising. As business functions have become more complex, so, too, has the need for compliance support.
- The compliance function’s growth in stature is slowing. Two years ago, more compliance officers were winning seats at the executive table. That trend appears to have stalled.
- When improving operations, compliance organizations should focus on delivering meaningful results in response to more complex expectations … with fewer resources.
Compliance leaders will need to keep making the difficult choices that support delivering excellent risk management services, and keep asserting a leadership role within the business.