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Corporate Compliance: The Case for Quality Compliance Methods

February 22, 2012 | Comments: 0 | Views: 169

At the core of any successful organization is a carefully planned and orchestrated process for governing risk and compliance issues. One of the most difficult aspects of implementing such a process is that, in order to be both effective and efficient, this process must take into consideration each and every member of a company from the executives on down, and find a means of being equally relevant to each individual. This can be a particularly daunting issue when it comes to educating the executive level associates in an organization.

Nowadays, far too many companies are dangerously limiting governance policies through the use of compliance and risk programs that are too rigid and uniform, rather than taking into account the various roles within the company. These policies focus only a strict set of rules and guidelines, and stress the point that straying from these procedures can result in heavy penalties for the company. However, taking this single minded approach to the topic offers very limited overall understanding of the issues, and has a tendency to be a hindrance when it comes to guiding the behavior of the executive level.

Although the legal repercussions are certainly an important aspect to get across when discussing compliance governance, other factors should be covered as well which have a tendency to be neglected by these rigid, traditional education methods. These plans have a tendency to leave out crucial points from the program parameters, such as inefficient oversight techniques, inaccurate information, out dated data and resources, disciplinary actions, and incident reports.

In order to make clear the importance of a well-structured and detailed risk and compliance governance program, executives should be shown the ways in which such a plan can help improve business all around. For example, as a result of a of having a tough, integrated governance program, an organization can see benefits in customer loyalty and retention, improved employee performance, increased brand safety and reputation, asset security, and higher revenues, just to name a few.

Illustrating the effect of these benefits to the company's bottom line by simply cutting out redundancies, reducing overly complex issues, and filling in knowledge gaps, is just one effective means of letting the executive level see the importance of having an efficient and well-organized compliance program. Drawing in and maintaining the executives' attention can be achieved easily enough given a well-rounded understanding of the key factors of such a program. These factors include a working knowledge of cost calculating, employee positioning, and all technological components.

Within the fast paced, dynamic environment of today's companies, having a detailed knowledge of compliance issues and having a program in place to ensure such issues are avoided, can have drastic benefits to any organization. Initiating a comprehensive and integrated risk management and compliance program can help to improve work quality and have far reaching benefits throughout the entire organization, from the optimization of business processes, enhanced data quality, and improved return on investment. By making a convincing case for such a program, new steps can be taken to begin improving overall business practices and driving the company in a more effective and efficient direction.

Conselium Executive Search - http://www.conselium.com

Source: EzineArticles
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