Building world-class ethics and compliance programs: Making a good program great
The expression “never a dull moment” could have been tailor-made to describe the ethics and compliance function and how it has evolved over the past decade or so. The well-publicized financial scandals that marked the aftermath of the tech bubble in 2002 and the housing bubble in 2008 led Congress to pass sweeping legislation that called for increased regulation, greater financial transparency, and more rigorous scrutiny of large corporations.
Suddenly, the ethics and compliance function found itself front and center, its responsibilities greatly expanded, and its activities far more integral to the strategic core of organizations struggling to regain public trust.
Furthermore, the stunning growth of social media, mobile technologies, and “big data” has ushered in a new era of transparency, exposing illegal transactions and raising profound new ethical questions about the way business is conducted. Once again, the ethics and compliance function has a central role to play in teasing out these issues.
Don’t settle
When it comes to creating ethics and compliance programs, organizations cannot afford to settle. “Good enough” is simply not good enough; they should continuously strive for “great.”
What separates a “good” ethics and compliance program from a “great” one? How does an organization’s investment in compliance and reputation risk mitigation systems and processes measure up against leading practices? At a time when risks are increasing, what are the building blocks upon which to build a world-class ethics and compliance program that not only protects an organization from internal and external threats, but also enhances its brand and strengthens its relationship with all stakeholders?
Five ingredients for your program
While there are a number of factors—or ingredients—that separate the “good” from the “great,” in our experience, there are five that are key differentiators in the highest performing ethics and compliance programs:
Read more about each of the five ingredients in the links above.
Or, for easier reading and reference, we’ve combined the five articles into a 32-page compendium. Download the compendium now.