FAIRPORT, N.Y., April 19, 2022 (Newswire.com) - BarkerGilmore, a boutique executive search firm recognized by CEOs, boards, and executives as best-in-class legal and compliance search professionals and leadership consultants, released a white paper identifying the nuances of organizational structure for in-house legal, compliance, risk, and privacy leaders at public and private corporations across the United States.
BarkerGilmore conducted a survey across a random sample of General Counsel, Chief Compliance Officers, Chief Risk Officers, and Chief Privacy Officers, garnering 206 responses from various industries. Key findings indicate reporting structure is not a "one-size-fits-all" arrangement.
- Size matters. Private companies, and companies with revenue under $500MM are less likely to have Chief Legal Officers/General Counsel, Chief Compliance Officers, Chief Risk Officers, and Chief Privacy Officers.
- The greater the organization's revenue and number of employees, the more likely the Chief Legal Officer/General Counsel reports to the Chief Executive Officer.
- Chief Compliance Officers are most likely to report to the Chief Legal Officer/General Counsel (44%) or the Chief Executive Officer (42%)
- When it comes to the Chief Risk Officer (35%) or Chief Privacy Officer (52%), reporting lines vary. Of the surveyed companies with Chief Risk Officers, 45% report to the Chief Executive Officer, 24% report to the Chief Legal Officer/General Counsel, 21% to the Chief Financial Officer, and 7% to the Chief Operating/Chief Administrative Officer. The Chief Privacy Officer has an even broader range of reporting, with 35% reporting to the Chief Legal Officer/General Counsel, 33% reporting to the Chief Compliance Officer, and the remaining 32% having various reporting lines across the organization.
Regardless of size, revenue, or industry, the success of an organization depends on the roles and responsibilities of its Chief Legal Officers/General Counsel, Chief Compliance Officers, Chief Risk Officers, and Chief Privacy Officers. Senior leadership is responsible for optimizing these positions to ensure top performance. The results of this survey shed light on which roles organizations utilize and to whom these positions report. Understanding the impact of these reporting lines is the next step.
To view the full study, download The Reporting Structure of Legal, Compliance, Risk, and Privacy Leadership, a white paper by BarkerGilmore.
BarkerGilmore is a boutique firm recognized by CEOs, boards, and executives as best-in-class legal and compliance executive search professionals and leadership consultants. With a team of advisors and recruiters spanning the United States, BarkerGilmore's client roster includes leading consumer, energy, financial, healthcare, industrial, and technology companies.