What is it?
Our Fractional Chief Compliance Officers (CCOs) provide part-time or project-based compliance services to companies.Your company might not need to hire a compliance officer, or even maintain a full-time employee dedicated to compliance in order to meet all regulatory compliance requirements.
Compliance is not optional if you work in FinTech or Financial Services with today's complex challenges but outsourcing the CCO position can actually provide some valuable advantages.
Why hiring a fractional CCO?
There are several reasons why your organization might choose to hire a fractional CCO:
Cost: Hiring a full-time CCO can be expensive, especially for small and mid-sized companies that do not have the resources to support a compliance program in-house. Our fractional CCO provides the expertise needed to establish and maintain a compliance program at a lower cost. Our Fractional CCOs catypically work on a flexible basis, allowing organizations to tailor their compliance resources to their needs and budget.
Flexibility: Our Fractional CCOs provide organizations with the flexibility to scale their compliance resources up or down as needed. They can be engaged for short-term projects, ongoing compliance support, or interim CCO coverage during transition periods. This flexibility allows organizations to efficiently manage their compliance resources based on their changing compliance needs.
Expertise: Compliance is a complex field that requires specialized knowledge of laws, regulations, and best practices. Our Fractional CCOs often bring deep industry-specific expertise and experience, which can be invaluable in navigating complex compliance challenges. They can provide specialized guidance on compliance matters that are specific to the organization's industry or jurisdiction, helping the organization stay compliant and mitigate risks. Our Fractional CCOs typically have extensive experience in compliance and regulatory matters, providing the expertise needed to establish and maintain a compliance program that meets regulatory requirements. They can also help you assess compliance risk and develop appropriate mitigation strategies to enhance improvements.
Objectivity and Independence: A fractional CCO can provide an objective view of the company's compliance program, identifying areas of weakness and recommending improvements. Compliance is a complex field that requires specialized knowledge of laws, regulations, and best practices. Fractional CCOs often bring deep industry-specific expertise and experience, which can be invaluable in navigating complex compliance challenges. They can provide specialized guidance on compliance matters that are specific to the organization's industry or jurisdiction, helping the organization stay compliant and mitigate risks.
Compliance Risk Management: Fractional CCOs are typically experienced in risk management, which is critical for identifying potential compliance risks and implementing effective controls to mitigate those risks.
Strategy: Fractional CCOs can provide strategic guidance on compliance matters, including developing and implementing compliance policies, procedures, and processes. They can work with the organization's leadership team to align compliance strategies with business objectives, risk tolerance, and industry best practices. This can help organizations establish a strong compliance framework that is integrated into their overall business strategy.
Enhanced Compliance Oversight: Having a dedicated compliance professional, even on a fractional basis, can enhance the organization's compliance oversight. Fractional CCOs can provide ongoing monitoring, reporting, and risk assessments to ensure that the organization's compliance program remains effective and up-to-date. This can help organizations proactively identifyand address compliance issues, reducing the risk of regulatory penalties, reputational damage, and financial losses
How does it work?
Here at UGR, we will help you navigate with success regulations and compliance requirements needed in your growth journey. Our team is composed of some of the finest Chief Compliance Officers (CCOs) covering multiple jurisdictions. We have a unique approach into the world of emerging technologies and work with some of the best compliance solutions including years of experience helping Crypto Exchanges, DeFi, Payment Processors, MSBs, RegTechs, Web3 and BaaS to meet all your regulatory requirements. Our Compliance As a Service (CaaS) allows you to plan, prioritize, and execute against strategic compliance projects and technology initiatives while matching your budget and pay only as you need.