Can a Security Officer be a Compliance Officer?

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Question:

I was recently told that the Security Officer should not also be the Compliance Officer. Several small banks I surveyed combine the Security Officer position with other positions including Compliance Officer. I am curious if that is accurate and if so why?

Answer:

Answer by Andy Zavoina:

This will depend on your bank's size and organization. If the compliance officer audits security, you'll need an outside party to do this. But there is nothing that says a responsible compliance officer can not also be in charge of security.

The key is, can this person do both jobs effectively.

Answer:

Answer by Barry Thompson:

I worked for many years as both the Compliance Officer and the Security Officer. After working with each hat I could find no major problems with a combined position.

First published on BankersOnline.com 9/2/03