What role does the Compliance Manager play in risk management?

The Compliance Manager plays a critical role in overseeing the implementation of risk controls as part of a broader risk management strategy. This responsibility involves ensuring that the organization's compliance programs are effectively integrated with risk management processes. The Compliance Manager assesses risk areas related to compliance, formulates control measures, and collaborates with various teams to implement these controls, thereby mitigating compliance risks.

In this role, the Compliance Manager focuses on compliance with regulatory requirements and internal policies, ensuring that the organization's risk controls not only meet legal standards but also align with best practices for risk management. By maintaining oversight on the implementation of risk controls, the Compliance Manager helps the organization safeguard against potential compliance breaches, thereby contributing to the overall risk posture of the organization.

The other roles suggested, such as developing a risk scoring matrix or only responding to compliance audits, do not capture the proactive aspect of managing and overseeing risk controls. While all aspects of compliance and risk management are important, the primary focus of the Compliance Manager is on the active engagement and enforcement of those risk controls. Additionally, managing risk reactions during incidents is typically associated with other roles more focused on crisis management or incident response, rather than compliance.