Question

Identify one Corporate Chief Compliance officer in any organization and discuss what she or he does.

Answer 1

Frank Lawrence is Cheif Compliance officer at Facebook for Facebook Payments. His basic roles and responsibilities revolves around to make sure that Facebook payment is compliant in accordance with the norms and framwork decided by the company and the regulators. Here are the his major tasks performed as Chief compliance officer:

1. He interacts with federal as well as state regulators to ensuer that Facebook payment pplatform is not being getting used for any kind of terrorist funding activity. This compliance is very necessary as failing to do so will attract hige penalty from regulators as well as several severe consequences for facebook.

2. To ensure that the licenses with regards to Facebook payment is operated strategically and all the regulator complaince with respect to global payment is fulfilled in various regions of the world.

3. Responsible for compliance program design and implementations for all new products using Google Payments and features to optimize the user experience and mitigate fraud and compliance risks through cross-functional collaboration with Product Management, Business Development, Engineering, Legal, Operations, and Finance.

4. Having focus on conducting external audits for regular check at periodical intervals and have a check on the systems and procedures, operational syatems and training with respect to Facebook payment.