Discussion - Where does Information Security fit?

Whether there is an official title or not, each organization has a person in charge of compliance with information security requirements. Discuss this role in your organization, no names (unless its your own) or confidential/private information please. What is this person's title, is this a full time responsibility, where do they fall in the organization chart, etc.

Also, a growing number of organizations are moving towards a model where the person in charge of information security (CISO role) is not a part of IT. In your opinion, does this role belong in IT? If not, where does this role belong? Give examples to support your reasoning.