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Compliance professionals who attended the NAVEX Global “Compliance Programme Effectiveness” roundtables in London and Amsterdam this year heard senior compliance experts share their insights on how they have improved their programmes’ performance. We are bringing back these experts to again share their best practices and recommendations for improving programme effectiveness and measurement at the 2017 Ethics & Compliance Virtual Conference.
Topics of Interest
Risk Assessment
Risk assessment initiatives were regarded as the most important step for the design of a successful ethics and compliance programme. Lori Martinez, Compliance Officer at McKesson, drew attention to her organisation’s strategy for ensuring relevant and accurate risk reporting with a focus on outcomes. “A tailored risk assessment not only identifies the compliance risk to distinct areas of a company, it is core in understanding how the market perceives our business and its cultural value, helping to make culture a real tangible asset to the business.”
Tone from the Top
They drew attention to the importance of leadership teams that set the right example for the workforce and demonstrate their support for the ethics and compliance goals of an organisation. Simon Hall, Ethics and Compliance Manager at BP, spoke of how the company supported its senior staff by using ethics and compliance liaisons. “The understanding that our ethics and compliance liaisons have of the cultural differences, as well as the local business issues and challenges, provides an effective channel to carry the messages from the top of the organisation and to make them relevant to our regional business units.”
Effective Compliance Measurement
How to effectively measure compliance programme success was also discussed. Deborah Thomas, Group Head of Compliance and Risk Management at Global Fashion Group, found that the more its staff engaged with them on ethical matters the better the results: “We avoid using metrics that window dress programme performance. For example, we measured the number of requests made to our speak-up hotlines on queries around our policies and code of conduct. We then saw a positive correlation between an increase in the number of queries and the performance of our compliance programme."
Join Lori, Simon and Deborah at the 2017 Ethics & Compliance Virtual Conference to hear them elaborate on their experiences on establishing programme best practices and performance measurement.
You can also download the white paper to read some of their insights into the topics they will be discussing including: conducting accurate risk profiling, setting the right tone from the top, supporting frontline managers and measuring programme effectiveness.
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View original article at Ethics & Compliance MattersTM