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Regular compliance self‐assessments: most U.S. regulatory agencies require risk‐based compliance analysis using periodic self‐assessments. Most company compliance programs explicitly require them. Well‐executed self‐assessment empowers you to target greatest risks.
Today’s discussion focuses on the thorny issue of Ethics & Compliance E&C program funding. Arguing for meaningful E&C funding is no easy task in many organizations. We submit there are many compelling and financially sound arguments for meaningfully funding E&C programs.
Famed management consultant Peter Drucker memorably said you can’t manage what you don’t measure. E&C professionals operate in world in which meaningful efficacy data are elusive with very little understanding of what works and what doesn’t.
We prefer to see an E&C program run by a dedicated CECO rather than one run by a different business leader wearing two hats. It’s certainly reasonable to vest an existing executive with CECO responsibility, but for a number of reasons it’s not ideal.