So, you developed a corporate compliance program. Now what? A lot of business leaders don't think about what needs to be done once youkilis dark blue jersey a compliance program has been put in place. As time passes, the risks your company is exposed to will change, which means your compliance program will need to be changed too. Failure to monitor a compliance program makes?it pretty useless. Business leaders need to stop making excuses and face the fact that compliance programs are becoming the norm.
Successful compliance programs requre a commitment of time, people and other resources. Compliance must be built into the culture of the organization, especially in the role of the CEO, in order to get other managers and employees to follow. Without appropriate support from the entire organization, compliance programs can only fail.
I had the opportunity to interview Anthony Boswell, an experienced educator, lawyer and compliance program builder. Anthony and I talked about some of?the "red flags" business leaders need to monitor for in order to ensure that their program is successful. Based on?Anthony's experience in the compliance field, here's what he had to say:
Red Flags: What to Look For
Anthony stresses the importance that the presence of a single red flag doesn't mean your compliance program is doomed. However, if present as a collective, these signs could signify that it will be challenging for?a compliance program to be effective. Some of the red flags include:
Budget Constraints- Telling the compliance department they can't have money for audits and other activities makes it challenging for them to get the job done. Audits and reviews provide compliance with the information they need to address risks and other issues that might hurt the company if they aren't corrected.
Lack of Leadership Support- Culture is defined by the tone at the top. If there's no support from the top, a compliance program will, without a doubt, fail. I discuss the importance of leadership below.
Employees/ Managers Going Above You- When employees or managers go to compliance for an answer, but don't like the answer they receive, in some companies, they will go above compliance to get the answer they want to
Organizational Culture- Cultures that aren't open to discussion or disagreement make it difficult for a compliance program to work. When the compliance team isn't part of leadership, invited to meetings or given a voice in the company, it makes it hard for compliance programs to be successful.
Compliance as a Cost- Leadership needs to switch their outlook from the present to the future to see the value or the return on investment of a compliance program. In the short term, compliance is a cost, but in the long term, compliance will save your company a lot of money in legal fees and fines.
Threats- Watch for comments youkilis dark blue jersey like "just go along with us on this one" or "this is a decision we already made". Comments like this show a disregard for compliance.
没有评论:
发表评论