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Compliance Fridays: Implementing Change

Buckner assists organizational clients with developing, auditing and enhancing compliance programs. The firm’s “Compliance Fridays” blog series is designed to provide clients and interested readers with best practices and strategies for, as well as insights into, compliance. An effective compliance program helps an organization, and its employees, agents and officers, conduct operations and activities within the scope of the law and internal policy; ethically; and with the highest level of integrity and professionalism. Today’s post outlines methods and strategies to compliance-related communication and education:

An organization seeking to implement, maintain or enhance a compliance program should devise a plan to communicate its commitment to compliance; everyone’s obligation to maintain compliance; explanation on relevant laws, rules and procedures; and other pertinent information to fulfill legal and regulatory requirements. Stefanie Mosca in an article for Inside Counsel, “Best practices for compliance in an ever-changing regulatory landscape”, offers a great tip for compliance officers who seek to keep up with shifting regulations:

“Be prepared to implement change. If you are following the same guidelines to reach the same goals you were focused on last year, you cannot expect to see any growth or change. By first recognizing the improvements necessary to take your business to the next level, you are already on your way to making a difference. Many organizations have begun integrating their compliance and risk management departments to streamline process and mitigate risks. According to Bank Tech, alignment between compliance, risk management, IT, and line-of-business functions has never been more critical, and new projects to replace or establish reporting and analytic infrastructure require a plan that extends to budget and resource management, training, and governance.”

Contact attorney Michael Buckner (+1-954-941-1844; mbuckner@bucknersportslaw.com) for more information on, or to assist with auditing, a compliance program.

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About Michael L. Buckner, Esquire

An attorney who provides clients with internal investigation, civil litigation, estate planning and compliance services.

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