Effective Compliance Training Program - Ways to Reduce

Compliance Risks

A compliance training program relevant to employees at all levels in an organization

Health and safety matters concern all employees

Specific issues such as taxation or financial regulations

The main objective of compliance training is to ensure that organizations abide by the

norms set by regulatory bodies

What is Compliance Risk?

Compliance risk is associated with the violation of certain standard rules or

procedures

Caused by deviations from accepted processes

Affects corporate image in the eyes of customers and stakeholders

May result in reduced business opportunities or limited turnover

Assessing Compliance Risk

Monitor regularly for violation of standard procedures

Steps involved in assessing a compliance risk

Risk identification

Risk measurement

Risk prioritization

Risk control

Enterprise Wide Compliance Program

Helps to bring all employees on the same platform with respect to compliance issues

Understand how risks at one part of the business line might affect other parts of the

business

Tips for a Successful Compliance Training Program

Compliance committee headed by a compliance officer

Abide by a Standard procedure and policy

Devise ways to develop and implement a successful and effective training programs

for employees

Effective communication between compliance committee members and

employees

An evaluation process to devise ways to monitor the progress of employees

Investigation and disciplinary action

Conclusion

To ensure that organizations adhere to regulatory requirements and avoid being

penalized with fines or other loses, they need to invest in compliance training programs.

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