Why Hiring a Temporary Compliance Officer can be the Right Decision
Hiring a temporary compliance officer can be a strategic, flexible, cost-efficient way to maintain compliance during times of change, transition, or growth. It ensures that the organization stays protected while seeking a permanent staffing solution. It is a decision that protects an organization when there is a gap in compliance officers. It helps to guard against regulatory, legal, and reputational risk during times of transition. It can be beneficial to address a variety of situations, including:
- Immediate Coverage for a Critical Role. If the permanent compliance officer leaves or is on extended leave, a temporary hire can fill the gap, providing fresh eyes to ensure there is no lapses in oversight; and avoiding disruptions in daily compliance operations, reporting, and risk management.
- Addressing Urgent Compliance Needs. A seasoned Interim Compliance Officer (ICO) can move quickly to manage risks from an audit, investigation, or regulatory inquiry from a government agency.
- Regulatory or Accreditation Preparation. An experienced professional can assist with preparing for Joint Commission, CMS, contractor, or state inspections with pre-audit preparation, developing corrective action plans, and preparing needed documentation.
- New Laws or Regulatory Changes. Temporary staff can bring niche expertise in policy development, training, and rollout compliance.
- Merger, Acquisition, or Reorganization Support. Interim experts can assist during M&A and reorganization with due diligence reviews, identifying compliance weaknesses, realigning structure, and integration of the Compliance Program.
- Addressing Backlog. Temporary assistance can provide needed support when the compliance office is overburdened with training, policy updates, investigations, audits, or risk assessments.
- Specialized Expertise. Hiring temporary assistance with expertise in a specific regulation (e.g., HIPAA privacy, Stark Law, AKS) can help to quickly and efficiently address issues.
If you’re considering temporary staffing and want help identifying the right skill set or sourcing options, contact Richard Kusserow at [email protected].
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