Section 2

Building Your Foundation

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Implement What You Know with Confidence

Discover action-based tools that provide simple steps for program improvement or robust plans for new ways of doing business. 

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Your ethics and compliance program is an ecosystem of moving parts. New laws and regulations, new lines of business, new geographies, mergers and acquisitions become part of a growing enterprise that your compliance ecosystem must support. 

Effective compliance programs are able to deftly navigate these complexities because they have built strong foundations that were developed with the nature of the compliance industry in mind.

This section will give you the expert advice and programmatic best practices to ensure the first steps you take to develop your program are in the right direction. Or if your program is more mature, these resources and insights will give you the necessary guidance to course correct and improve your program’s foundation at whichever stage it is in. 

 

How to Survive a 500-Year Compliance Emergency

Chapter 5 of The Worst-Case Scenario Survival Guide for Compliance Professionals

Compliance emergencies can happen anytime, anywhere and within any industry. Learn how preparing with a trained, practiced and well-equipped workforce will position your organization for greater success with Tom Fox.

Tom Fox 09/27/2017

Chapter 5 of The Worst-Case Scenario Survival Guide for Compliance Professionals

Compliance emergencies can happen anytime, anywhere and within any industry. Learn how preparing with a trained, practiced and well-equipped workforce will position your organization for greater success with Tom Fox.

5. Practice, Practice, Practice

One of the most powerful lessons learned by FEMA in weather emergencies was that it’s not the companies which had written protocols in place that survived, but rather companies that had practiced their emergency responses.

Practice your response by sending a message through your hotline and see how it is tracked all the way up your organization, including up to the compliance committee on the board. Now go through the same exercise with your outside investigative counsel. They should have a preliminary investigation protocol in place which can be adjusted based upon facts on the ground, or at least as they are initially presented.

Finally, make sure your entire team is working off the same playbook. All your response teams, both inside and outside your organization should train and practice together. Don’t forget to take advantage of the pronouncement in the Justice Department’s Evaluation of Corporate Compliance Program and perform a root cause analysis on the training. If there are any gaps, they should be identified and remediated.