Why is Employee Engagement Critical in Fostering Compliance? If you travel to Denmark, you’ll find that when you enter the subway system there are no turnstiles prohibiting your access to the platform prior to providing payment or taping your metro card. Why is this you might ask if you’re an urban native anywhere else in the world? No, public transportation isn’t free. Denmark has achieved something that is absolutely unthinkable to many parts of the world, a prime culture of trust - a phenomenon that residents of major urban centers such as New York, London, and San Francisco would find baffling. A culture of trust means that compliance and adherence to rules is so high that creating checkpoints and protocols to ensure trust are virtually unnecessary because all actors are complying. Read more
Creating an Effective Compliance Risk Analysis Framework The world of compliance risk management is in a constant state of change. Because of this, organizations continuously struggle to ensure that their business operations are compliant not only with governmental regulations but also with ethical values. With this in mind, it seems that compliance teams worldwide are constantly playing catch up in determining what business units, departments, and processes are prone to compliance failures and which are not. Being behind on this process can be extremely dangerous to the organization as compliance failure can lead to a plethora of fines, setbacks, and a diminishing reputation among customers. It would seem to many compliance teams that nothing short of the ability to predict the future is suitable enough to identify and prevent emerging risks effectively. A compliance risks analysis may be able to give organizations exactly what they need to build a robust compliance program better and better mitigate the potential of emerging risk. Read more
Addressing the Difficulties of Regulatory Change Management Regulatory change is accelerating. As industries grapple with new technologies and digital transformation, compliance teams face the monumental task of keeping up with the regulatory requirements. Modern business has become an integrated web of supply chains and third-party partnerships. While such evolutions are expected as markets change, the pervasiveness of these relatively young developments and the speed at which they influence the modern economy leaves regulators and compliance teams alike racing to address new forms of risk. Read more
Get your own custom 
