One of the most prominent challenges organizations face today is operationalizing and managing compliance programs and holding stakeholders accountable. Given the complexity of the compliance landscape, professionals in this field have different views on the concept of “operationalizing compliance management”.
Nonprofit organizations unlike for-profit organizations, are less directed by an operations staff and are largely managed by a committee. It becomes the role of the board to design structures and guidance for committees that will be relevant to the needs of the organization.
Governance, risk, and compliance is a hot topic amongst organizations of all sizes. GRC principles are essential in developing sustainable operations in the uncertainty of the future. Each of these is a separate pillar of an organizational structure, but each relies on the other to maintain the integrity of the organization. Governance seeks to maintain strong, responsible, and diligent leadership. Risk management is the identification, preparedness, and mitigation of threatening uncertainties. And compliance ensures that the organization upholds the law and operates with integrity. Each of these helps build the foundation for the organization to move forward in a responsible and sustainable manner.