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A board member with corporate compliance expertise

Joe Murphy (jemurphy5730@gmail.com) is a Senior Advisor at Compliance Strategists, SCCE’s Director of Public Policy, and Editor-in-Chief of CEP Magazine.

The Wall Street Journal reported on Carnival Corporation’s settlement of a case with the government, noting that the company would add “a board member with corporate compliance expertise.”[1]

For years, Dan Roach and I have made this point: Companies should be recruiting compliance officers from other companies to be on their boards, just as they recruit those with financial expertise. What a great option—someone not afraid of risk, who understands what makes companies tick, and who will ask the right questions to ensure that the company’s approach to its compliance risks makes sense. But it hasn’t been happening.

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