There’s been a lot of lip-service paid to “operationalizing compliance” since the Department of Justice’s Evaluation of Corporate Compliance Programs mandated that companies operationalize compliance within the organization to drive effectiveness.
But what does it really mean to operationalize compliance?
You operationalize compliance by integrating it into business process. Review and analysis of corporate data to improve business process is one way to do so. In the context of corporate spending programs, reviewing gifts and T&E expense data can benefit compliance, accounts payable and sales functions. This information is critical to FCPA compliance but also to identify any suspicious patterns that may indicate expense card abuse.
How can a compliance professional develop and implement a plan to operationalize compliance?
We’ve partnered with Compliance Week and Tom Fox to host a webinar next month on this topic. By attending, you’ll take away:
- An understanding of the types of data each company owns;
- Why operationalization of compliance is an imperative;
- How to cut across silos to increase operationalization; and
- How to partner with other corporate functions
It’s not enough to have a policy and train your people, you have to apply it to business process. This means having controls, procedures, monitoring and auditing.
Register at Compliance Week to join this webinar.
Topic: Operationalizing Your Compliance Program
When: May 4, 2017 at 2:00-3:00 pm ET
- Patrick Taylor, CEO, Oversight Systems
- Thomas R. Fox, Compliance Ambassador, Red Flag Group