17%Compliance and risk executives are very satisfied with the effectiveness of their compliance program1
33%CCOs report that they do not have, or do not know if their compliance testing program includes transactional, process, and controls testing2
27%CCOs strongly agree that they monitor and track for regulatory changes2
 PwC 2018 State of Compliance Study: Getting ahead of the watchdogs: Real-time compliance management,  KPMG’s CCO Survey 2017: The compliance journey: Boosting the value of compliance in a changing regulatory climate
While regulatory fatigue and uncertainty sets into certain geographies, rule-making is intensifying in others. In this divergent regulatory environment, Chief Compliance Officers (CCOs) have a challenging task before them -- to enable a globally coordinated approach to compliance with minimal redundancies and optimal synergy.
CCOs are also expected to enable a risk-based approach to compliance, while providing assurance and advice to the management and board to guide decision-making. The emphasis is increasingly on driving a pervasive culture of compliance across the organization.
There are many elements that make up a robust compliance program. For instance, a federated approach to compliance management enables CCOs and their teams to effectively juggle the compliance requirements of each business function and geography, as well as the potential risks and volume/ velocity of regulatory changes.
Automated reporting tools and analytics make it easier to aggregate and report various compliance metrics, including the status of compliance, emerging risks, and the effectiveness of policies and controls.
Integration is another important element – CCOs need to be able to bring together and streamline compliance processes such as policy management, risk assessments, control monitoring and testing, regulatory change management, regulatory exams and engagement management, third-party compliance, and case investigations.
Reduce compliance violations, penalties, and the risks of reputational damage
Lower the cost of compliance programs by prioritizing high-risk areas, while also rationalizing controls and policies
Build confidence with the leadership team, board, and regulators by demonstrating a mature compliance function
Reduce the effort involved in managing regulatory exams and engagements