A compliance manager is a professional who guards the ethical and legal integrity of a company through planning and policy enforcement. He confirms that all departments of the company comply with the rules and regulations that the company upholds. He has to keep abreast of the changing laws that affect the corporate world.
He is also responsible to prepare reports and present them to his superiors about the laws and how the employees of the company are following them. Compliance managers have to identify issues of ethics and legality are followed.
Compliance Director
Compliance directors are accountable that agencies and companies follow laws, rules, and regulations which are relevant to their functioning. The compliance directors at medical insurance companies analyze practices and policies to see that they adhere to federal and state Medicare and Medicaid standards and to federal and state laws related to patient care and treatment. The compliance directors carry on their tasks depending on the industry they are working.
A compliance director of the banking industry will analyze policies and investments to make sure their regulatory and legal status is in the correct order. They offer risk assessments of possible legal and regulatory issues that may crop up in the future. If violation crops up compliance directors are responsible for sorting out the problem as well as instituting a policy to eliminate the lapse.
Vice President of Compliance
The vice president of compliance is responsible for the corporate compliance program of the company. He has to maintain an independent body within the company to see if the company is in compliance with regulations, laws and company bylaws. He has also to determine if the board of directors of the company and executives is fulfilling the duties required of them.
Vice President of Compliance must find out if the company board of directors and executives accomplish the fiduciary duties of the company. If he finds out that the duty was breached by a board member or executive the vice president will have to take necessary corrective actions.
HIPAA Privacy Officer
HIPAA Privacy officer is also known as the chief privacy officer who sees to the implementation, development, and maintenance of privacy policies. He must also adhere to privacy procedures and policies regarding the handling and safe use of protected health information in accordance with state and federal HIPAA regulations.
According to the HIPAA security rule every healthcare organization or practice that generates, stores, or transmits ePHI must appoint privacy compliance officers irrespective of the size. In large firms, there will be a HIPAA privacy officer dedicated to the task. In smaller firms, the role may be entrusted to an employee with administrative or IT responsibilities.
There is a Privacy Oversight Committee that is responsible for seeing to the privacy and integrity of the firm’s PHI. Sub-committees have to be formed among the members of the privacy oversight committee.
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