Section 1

Understanding the Basics

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Get Started with Compliance Fundamentals

From creating a top-notch code of conduct to understanding the role compliance plays in your organization, this is the place to learn the core elements of an effective compliance program.

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Each compliance program is unique with disparate risks and various levels of maturity. Although there are a number of nuances determined by your company’s size, industry and location, there are still basic principles that are best practices across the board. In this section you’ll learn about the key skills every compliance professional should have as well as the general knowledge base effective compliance professional have and harness throughout their careers.

Just as there are key skills every modern compliance professional should possess, there are fundamental elements every effective compliance program should practice. This section will introduce you to those key components of a robust compliance program and provide the guidance you need to move your career and program to its next level of sophistication. 

Weekly Compliance Tips | Kristy Grant-Hart

Compliance expert, Kristy Grant-Hart, offers her wildly effective wisdom and best practice advice on compliance program management. 

Kristy Grant-Hart

Compliance expert, Kristy Grant-Hart, offers her wildly effective wisdom and best practice advice on compliance program management. 

How to Get Employees to Help Identify Business Risks

A great way to get information for your risk assessments, and to keep your finger on the pulse of the business, is to ask everyone you meet the following question, “What do you think the biggest compliance risk is facing the business?” You’ll be amazed how quickly people tell you where the high-risk areas exist. You'll be astounded by the information employees will provide you with just by asking this simple question. By finding out what others think the risks are, you expand your understanding of the business and can better formulate plans for combating these risks. Click to Tweet

How to Say “No” More Effectively

When you have to say no, try to use it as a teaching moment. Explain to the business why you said no and highlight the policy or law that would be violated if you allowed the conduct to go forward. That way, the next time the business asks for approval, they will be more likely to think through the policy and law by themselves before the request gets to you, and you’ll be able to say yes more often. Click to Tweet

When to Ask for More Resources

If you’ve asked for resources like additional staff or a technology solution, only to be turned down, it can feel disheartening. Although it may be easy to sit back and accept defeat, try asking again during the next budget cycle. Don’t be afraid to ask for what you need once, twice, or even three times in a year. The decision-maker is likely to be affected by your continual call for their assistance. They say that the squeaky wheel gets the grease, and it’s true. By politely but determinedly asking for what you want, you are more likely to get it, even if it takes longer than you’d prefer. Click to Tweet 

How to Prepare for Questions in Meetings

If you’re going into a high-stakes discussion like a board meeting or budget session, one way to prepare is to play devil’s advocate. Imagine yourself sitting on the other side of the table. How would you poke holes in the proposal? What questions would you ask? What points would you bring up that might torpedo your request? Once you’ve considered the other side’s point of view, you can come up with ways to counteract or neutralize the attacks. Try sitting in the shoes of the person on the other side before the big meeting. You’ll be ready to defend yourself and your request, making it more likely to be granted. Click to Tweet

When to Hire a Compliance Consultant

For many compliance officers with tight budgets, the thought of getting external help from consultants or technology solutions seems impossible. One way to justify the costs of outside help is to determine how long the project will take you to complete in-house, then juxtapose that to the efficiency of having it done quickly. Let’s say you’ve been tasked with completing a risk assessment, and you believe it will take 100 hours to complete.  Assuming you have other tasks and priorities, that task could take you three months to finish. If you have a professional consultant come in, it could be done in one month or less, which will give you more time to implement the recommendations and controls. By getting the project done by using a dedicated outside source, you can use your time to complete the implementation and get the risk under control more quickly. Click to Tweet