Building World – Class Ethics and Compliance Programs

The ethics and compliance function has evolved over the past decade and it is now front and center with greatly expanded responsibilities. When it comes to creating ethics and compliance programs, organizations today cannot afford to settle for “good enough” and should continuously strive for “excellence.”

What separates a “good” ethics and compliance program from a “great” one? How does an organization’s investment in compliance and reputation risk mitigation systems and processes measure up against leading practices? At a time when risks are increasing, what are the building blocks upon which to build a world-class ethics and compliance program that not only protects an organization from internal and external threats, but also enhances its brand and strengthens its relationships with stakeholders?

While there are a number of factors-or ingredients-that separate the “good” from the “great,” in our experience, there are a few key differentiators in the highest performing compliance programs:

  • Organizational Culture
  • Tone at the Top
  • Implementation
  • Risk Assessment
  • Testing and Monitoring
  • Relationships
  • Value Engineering Resources
  • Investing In Employees
  • Hiring Competent Staff
  • Third Party Auditing
  • Monitoring Mod Rates