How to Manage the Risk of Non-Compliance

When it comes to compliance, do not gamble.  Every sizable corporation today needs an effective compliance program in order to manage the risks associated with non-compliance.

It is up to the CEO, and ultimately the Board of Directors, to see that there are policies and systems in place to deal with any issues that arise. But their responsibility goes beyond simply designing how problems will be handled. These leaders must ensure that the environment is open to receiving reports…not only that complaints will be managed through appropriate channels but also that there will be satisfactory resolution with no retaliation.

To protect your organization by reducing the risk of non-compliance, see that these elements of your corporate compliance training program are in place:

·         Clear codes of conduct spelled out and understood by the entire workforce

·         Professional investigations of reports

·         Management training and practice in receiving and dealing with reports 

·         Strict enforcement of policies

·         Executive and Board involvement throughout the process

To keep your company compliant, first prevent, then detect, and finally resolve abuses with a strong corporate compliance program.