As companies of all sizes and industries continue to face more government regulations and ethical stipulations, the role of the compliance manager is becoming increasingly important. If your business is growing and entering the public eye, then compliance management may well become a vital part of your risk management processes.
Compliance training for your staff can be of tremendous value to an organisation and an essential part to building ethical culture, establishing acceptable standards of behaviour and mitigating risk.
Professional benchmarks are always changing, as such keeping your professional development continuous is critical if you are looking for a new position or advancement in your current field. We also know that training budgets are not what they used to be, and it can be difficult persuading your employer to fund your educational needs.
The objective of CPD is to ensure that accredited professionals maintain the currency of their skills and knowledge. This is particularly important in an environment of rapidly evolving markets, changing laws and regulations.
The changing regulatory environment and technology has changed significantly over the years. These challenges faced mean it is vital to have the right knowledge and skills. The 10131NAT Certificate IV in Compliance and Risk Management will teach you what you need to know to approach your role with confidence.
Working as part of a compliance team is a challenging position and has a great deal of responsibility but is also a rewarding area of work. In order to do this role, you must maintain a high level of integrity and serve as an example for other employees.
For many people, the membership with the GRC Institute (GRCI) is a natural progression after completing one of GRCIâ€™s nationally accredited compliance and risk qualifications.
Corporate compliance training for employees is an important component for businesses as it helps staff to understand the regulations that are relevant to their tasks and duties at the workplace. Proper compliance training can help companies mitigate and avoid the risk of lawsuits and heavy penalties.
Todayâ€™s risk and compliance professionals need all-round skills to thrive in increasingly complex roles. Leadership and change management are two areas upon which all senior GRC professionals should focus.
Not only can whistleblowing save the company money as an early warning system to corruption or fraud, but it can also protect your brand. It is a two-part saving component. In this day and age, you do not want to be a company that engages in suspect practices or does not know how to control its own finances.
New rules and heightened regulatory oversight have made compliance a priority for many companies especially for highly-regulated industries; however the demands for staff exceed the pool of experienced workers.
How costly is a data breach? According to Thomson Reuters Compliance Trends 2015, the global average cost of data breaches is $3.5 million. Privacy and data protection have shot to prominence in the risk and compliance profession in recent years. Companies are far more likely to have a small data breach than a major breach.
A conflict of interest occurs when an individual or organisation is involved in multiple interests, one of which could possibly corrupt motivation. Importantly, the presence of a conflict of interest is independent of the occurrence of impropriety.
Letâ€™s face it! Compliance and risk training can be extremely dry at times. Here are a few ways you can make it interesting for employees so they can get the full benefits of the training objectives.
Many organisations have begun to realise the true value of the risk and compliance function. It has steadily been able to shake off the tag as the business â€˜policemenâ€™ and has now become the key port of call in managing business risks.
Some may think that putting â€˜regulationâ€™ and â€˜innovationâ€™ in the same sentence is an oxymoron. Surveys across businesses - large, medium, small and irrespective of industry â€“ continually show that regulation is top of the list as a major barrier to improved productivity. Innovation is possible and is a key driver of productivity.
Unethical and illegal conduct is costing organisations huge sums in fines and losses of reputation. Regulators are bringing into focus â€˜culturalâ€™ behaviours and conduct risk. Can a culture of strong ethics help the bottom line? How do you embed ethical behaviour into the business?
As businesses become more global and risks become complex, behavioural factors are important to consider. There is growing recognition among risk professionals that a positive risk culture is an essential element of effective risk management.
Successful business operations depend on proper functioning of many different components. Each department within a firm must execute its duties faithfully and according to the strategies developed by leadership. The creation of such inter-departmental synergy leads to growth and ultimately an improved bottom line.