How to create an effective compliance program with Stephen Martin?

The compliance department is often seen by companies as an afterthought. Many companies have difficulty introducing procedures on time or when it is already too late. Worse, the position is being sidelined by several companies, with the sales team usually viewing compliance officers as too quick to respond / "No! /".

Ironically, companies without a compliance culture often face more disciplinary action and lawsuits than their compliant rivals, rather than focusing on running a profitable business. In other words, critical resources are saved with a successful compliance policy that includes individuals, time and capital.

Realistically, building a compliance foundation is the most important assurance for an organization to reduce risk. In order to generate revenue and provide evidence of compliance with applicable legislation, compliance must be recognized as an internal insurance system. With this, organizations must strive to develop a successful compliance program.

But how do you create an effective compliance program?

Most organizations are starting to implement 'StoneTurn's Global Compliance Framework'. These standards are widely recognized and applied internationally to guide companies in their day-to-day operations, aligning with national regulations, regional codes and industry best practices.

In this chapter of The Compliance Handbook we are joined by a renowned expert in the world of compliance, Stephen Martin. Join us as we understand the essence of creating a practical compliance framework for your organization.

Key points from the chapter:

-Recognize that compliance goes far beyond FCPA compliance. AML, antitrust, fraud, FCA, trade sanctions. It helps the company get a better return on investment and drives ethics in a much more visible way.

-The biggest challenge in compliance today is the expectation that you can use data analytics to help you oversee and monitor your compliance program. Find out how to overcome this challenge and set up compliance systems so you never encounter the same problem in the future.

-Take something to focus a lot on the ethical and cultural side by implementing your effective compliance program.

-Remind yourself that ethical leadership is the best compliance measure you can implement. But again, companies are struggling with that area: how do you do that? Cultural change is not easy, and cultural impact is not easy.

-The /"31 Days to a More Effective Compliance Program/" is the answer to all your compliance problems. Learn more about this framework directly from the expert himself, Stephen Martin.

Dive deep into the six elements of compliance;
-Risk assessment
– Governance and structure
-Policies, procedures and controls
-Training and education
-Monitoring and reporting
-Reply and improvements

About Thomas Vos:

Thomas Fox, the Compliance Evangelist, is one of the leading writers, thinkers and commentators on anti-bribery and anti-corruption compliance. In this latest edition of The Compliance Handbook, he continues to provide seasoned compliance professionals, and those new to the field, with the practical, actionable guidance and tools needed to design, create, implement and implement a best practices compliance program. to continuously improve.

The “nuts and bolts” of creating a comprehensive compliance plan

The first chapter of this unique work describes a concise but thorough 31-day approach to operationalizing a company's compliance regime. The chapter begins with a section on what 2020 has brought to the compliance landscape and then methodically addresses best practices for everything from establishing policies, procedures, and internal controls to assessing risk, training, handling investigations, and more . Each day ends with three key points that you can implement at little or no cost.

Insight into compliance responsibility throughout the organization

The Compliance Handbook also discusses in detail the role of all professionals with compliance responsibility, from compliance officers and boards of directors, to human resources, to internal audits and internal controls, and to communications and training professionals.

In-depth treatment of current topics and trends

The handbook provides an in-depth understanding of the latest ideas and trends across the full range of critical compliance topics, including:

• Compliance and business ventures
• Third party risk management
• The role of the Board of Directors in the field of compliance
• Continuous improvement
• Compliance innovation
• And much more

Order your copy OR copies of The Compliance Handbook: A Guide to Operationalizing Your Compliance Program. Save 25% off.
http://www.lexisnexis.com/fox25

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