Zohar Mor’s Post

💡 Compliance has transcended beyond being merely a set of rules to avoid legal pitfalls. 🔝It has become a cornerstone of effective governance, crucial for building a sustainable and ethical business. ❗️However, embedding compliance into the very fabric of corporate culture presents its own set of challenges and opportunities. Let's delve into strategies that can transform compliance from a mandatory requirement into a shared value across all levels of an organization. 𝟏. 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐂𝐨𝐦𝐦𝐢𝐭𝐦𝐞𝐧𝐭: The journey towards a compliance-oriented culture begins at the top. Leaders must not only preach compliance but also practice it, setting a clear example for the entire organization. By demonstrating a genuine commitment to ethical standards and regulatory requirements, leaders can inspire their teams to follow suit. 𝟐. 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐢𝐧𝐭𝐨 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐕𝐚𝐥𝐮𝐞𝐬: Compliance should be woven into the core values of the company. It's about creating a narrative that positions compliance as a key component of the organization's identity, not just a checklist or an afterthought. This approach helps employees see compliance as part of their daily responsibilities, integral to the success and integrity of the business. 𝟑. 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐨𝐮𝐬 𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐓𝐫𝐚𝐢𝐧𝐢𝐧𝐠: Building a culture of compliance requires ongoing education and training for employees at all levels. Tailored training programs that highlight the importance of compliance, using real-world scenarios and case studies, can enhance understanding and retention. 𝟒. 𝐎𝐩𝐞𝐧 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥𝐬: Encourage an environment where employees feel safe to ask questions, report concerns, or discuss compliance issues without fear of retaliation. Open communication channels, such as hotlines, suggestion boxes, or regular town halls, foster a culture of transparency and trust, where compliance is a collective responsibility. 𝟓. 𝐑𝐞𝐜𝐨𝐠𝐧𝐢𝐳𝐞 𝐚𝐧𝐝 𝐑𝐞𝐰𝐚𝐫𝐝 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞: Reinforce positive compliance behavior through recognition and rewards. Acknowledging teams and individuals who exemplify compliance and ethical behavior not only motivates them but also sets a benchmark for others. It's about celebrating 'doing the right thing' as a key achievement. 𝟔. 𝐑𝐞𝐠𝐮𝐥𝐚𝐫 𝐀𝐮𝐝𝐢𝐭𝐬 𝐚𝐧𝐝 𝐅𝐞𝐞𝐝𝐛𝐚𝐜𝐤 𝐋𝐨𝐨𝐩𝐬: Implement regular compliance audits and establish feedback loops to identify gaps, assess the effectiveness of compliance programs, and make necessary adjustments. This process of continuous improvement demonstrates a proactive approach to compliance, adapting to new challenges and learning from mistakes. 🤝 Embedding compliance into corporate culture is a strategic endeavor that requires commitment, clarity, and concerted effort across the organization. #Compliance #EthicalBusiness #ESGStrategicLeader

Creating a culture of compliance requires continuous effort and dedication. It involves leadership, clear policies, effective training, robust monitoring, ethical behaviour, and strategic use of technology. Embedding compliance into the organisational DNA is essential for sustainable success and risk mitigation. By focusing on these strategies, legal departments can foster a compliance-driven culture that meets regulatory requirements and builds a foundation of trust and integrity within the organisation. You can discover more about creating a culture of compliance in Lawcadia's latest article at https://loom.ly/jQa5XRI #Compliance #InHouseLegal #Integrity

In recent research, 90% of employees surveyed said that they’d faced situations in the workplace where they didn’t know how to comply. This highlights the critical role of implementing procedures that support compliance policies as well as the value of fostering a culture of compliance. In Lawcadia's latest article we explore strategies that legal teams can use to embed compliance into the organisation.

Building a culture of compliance is a challenge that relies on different 'levers' across people, processes, and of course, technical controls. This article examines some of the strategies that are most relevant to legal teams to consider. Sacha Kirk Lawcadia #cultureofcompliance #legalteams

Compliance is not an end in itself. This is a fact, regardless of how you define "Compliance," for your organization, including Information Security, IT Security, Business Continuity, Ethical Compliance (Code of Conduct, etc.), and Legal Compliance. However, there is a trade-off for nearly every organization in how functions are perceived: 👉 Business: Primary objective is to be successful in the market, make money. 👉 Compliance: I need to make the business adhere to rules, report on deviations and punish all "heretics". Clearly, this is a very simplified and one-sided depiction of "Compliance" as a function in an organization. Yet, there are still many advocates for such a notion of Compliance - on both sides. "Compliance" has earned a negative connotation in organizations. Modern organizations understand that Compliance is an exceptional business enabler. To benefit from this, both sides need to approach the topic with the right mindset. The correct statement for the perception of Compliance above would be: 💡 Compliance: Primary objective is to provide transparency on risks, enable risk-driven decisions for the business. Be an internal think tank for all kinds of the organizations' capabilities. When the business is involving compliance in all relevant internal developments (organizational, product, tech - you name it) at an early stage, the following parts get an "X" in the RACI for Compliance: 👉 Make sure, the business understands all relevant requirements. 👉 Be a think tank for product development and organizational improvements to be in line with compliance requirements - in an efficient manner. 👉 Govern risk management to ensure complete transparency of the risk landscape. Balance the organization's risk appetite with a business-centric view of risks, avoiding a purely stringent compliance-driven approach. 👉 Provide *meaningful* reporting to stakeholders. 👉 Involve all relevant stakeholders in the implementation of compliance. Done correctly, this leads to multiple competitive advantages for the organization: 👉 Your organization's maturity is perceived as significantly higher. 👉 More time on business/ product questions in tender questionnaires. 👉 Have a better posture in contractual negotiations. 👉 External audits consume less resources. 👉 Way better on internal processes and flows. 👉 Be pushed on important initatives (e. g. asset management, accountability, standardization of processes). For sure, Compliance is an extra that companies need to pocket. But: The competition needs to deal with the same burden Make it your advantage to control your approach to be a meaningful, efficient one. Most of what is regulated, is regulated for a reason though. Accept and capitalize on it. Compliance is a business enabler. In today's blog post, I elaborate further on this topic in more detail. https://lnkd.in/ezBq9Wmw #Compliance #InformationSecurity #ComplianceManagenment

BUILDING A HIGH COMPLIANCE CULTURE IN THE ORGANIZATION! For an organization to not just succeed, but keep growing, there is a need for a high compliance culture in the organization. Compliance means adhering to all laid down internal and external legal and regulatory requirements within an organization/economy. Compliance culture is usually built over time by the tone set from the top by management. It requires that management sets the top of compliance and impose sanctions that can be easily implemented as it is not just enough to make rules without sanctions for failure to obey the rules. Once management sets the tone from the top, it is essential to let everyone at the organization starting from the “gateman” to the “Chief Executive Officer” understand the compliance culture of the organization. A few crucial elements to set the ball rolling are: 1. The goal of the organization must be clear. 2. What amounts to success in the role of each and every member must be outlined. 3. The dos and don'ts attached to each role must be clearly stated. 4. Who does what, when, how, where, why, and with whom or what to do it must be clearly stated. 5. Everyone must always be at the right place, at the right time, and with the right resources to achieve set objectives for their roles. 6. Deadlines to comply with internal and external policies must be set for everyone with a compliance officer appointed to ensure that each member meets the set deadlines. 7. Easy to read and understand compliance manual must be shared with everyone. 8. The effects of failure to comply must be stated against the guidelines to comply with, so people understand the “why”. 9. Sanctions must always be implemented to discourage non-compliance and serve as a warning to others. 10. Compliant members should be praised/rewarded to encourage a high culture of compliance. I believe the above points when achieved, help an organization scale with ease, attract investments, and develop talents within the organization. If you have any additions, suggestions, or questions, please share them in the comment section or send a direct message. As much as possible, be someone's pleasant surprise this week!

Title: Research, Experience, and Compliance: Achieving Organizational Objectives Introduction: Meeting organizational compliance objectives is a challenge in today's business landscape. Research and experience are instrumental in helping workers navigate these challenges, determine appropriate frameworks, and establish controls to ensure compliance. This essay explores the significance of research and experience in achieving compliance, highlighting their role in identifying risks, developing strategies, and fostering a culture of compliance within organizations. Research and Its Impact: Research serves as a foundation for understanding the legal and regulatory landscape. It involves analyzing laws, regulations, industry standards, and best practices. Thorough research enables workers to identify potential risks, anticipate regulatory changes, and establish controls to mitigate compliance-related issues. It also helps organizations stay up-to-date with evolving compliance frameworks, reducing legal and financial risks. Experience and Its Influence: Experience contributes practical knowledge and insights gained from past experiences. Seasoned professionals understand the intricacies of compliance and can identify gaps in existing frameworks. Their expertise allows them to develop effective strategies and controls, ensuring compliance across the organization. They also provide guidance, sharing lessons learned and best practices with colleagues. Research and Experience: A Synergistic Approach: Research and experience complement each other in achieving compliance objectives. Research provides knowledge and understanding, while experience adds practical application and contextual insights. By combining these, workers can determine appropriate frameworks and controls tailored to their organization's needs. They can adapt existing regulations and standards, developing robust compliance programs that go beyond minimum requirements. Continuous Improvement and Collaboration: The collaboration between research and experience encourages continuous improvement in compliance efforts. Workers learn from past experiences, conduct research to identify areas for enhancement, and implement changes to improve compliance practices. This proactive approach ensures organizations stay ahead of regulatory changes and emerging risks. Conclusion: Research and experience are essential tools for workers in meeting organizational compliance objectives. Research provides a comprehensive understanding of the regulatory landscape, enabling risk identification and control establishment. Experience contributes practical knowledge and insights, guiding the development of effective compliance strategies. By integrating research and experience, organizations establish robust compliance frameworks, meet regulatory requirements, and foster a culture of compliance. This collaborative approach ensures organizations proactively manage risks and protect their reputation.

In today's business landscape, compliance is more important than ever. Compliance departments play a crucial role in ensuring that organizations adhere to laws, regulations, and industry standards. However, navigating the complex world of compliance can be challenging, which is why many departments are turning to Roadmunk for assistance.

How do you prioritize compliance efforts to maximize their impact? ✏️ As compliance professionals, we face the ongoing challenge of navigating a complex web of regulations while ensuring organizational adherence to legal requirements. With resources often limited, prioritizing compliance efforts becomes paramount to maximize impact effectively. Here's how: 1. Risk Assessment : Conduct comprehensive risk assessments to pinpoint areas of highest compliance risk, focusing on regulations directly affecting operations and carrying substantial penalties. 2. Regulatory Landscape Analysis: Stay abreast of regulatory changes and industry trends, prioritizing efforts based on the impact of new regulations and enforcement actions. 3. Impact Analysis: Evaluate the consequences of non-compliance, including financial penalties, reputational harm, and operational disruptions, prioritizing efforts where risks are most significant. 4. Resource Allocation: Allocate resources based on risk level and potential impact, directing efforts where additional resources can prevent or mitigate compliance risks effectively. 5. Proactive Measures: Emphasize proactive compliance measures like employee training, policy enhancements, and robust internal controls to prevent compliance issues before they arise. 6. Continuous Monitoring: Implement systems for ongoing monitoring and auditing to identify compliance gaps and emerging risks, prioritizing efforts to address identified issues promptly. 7. Stakeholder Engagement: Engage with regulators, industry associations, and internal departments to collaboratively prioritize compliance efforts, considering stakeholder perspectives and priorities. 8. Compliance Culture: Foster a culture of compliance across the organization by promoting awareness, accountability, and ethical behavior, prioritizing efforts to embed compliance into the organizational culture. 9. Data-Driven Approach: Utilize data analytics and metrics to identify trends, assess compliance performance, and prioritize efforts where improvements are most needed. 10. Flexibility and Adaptability: Remain flexible and adaptable in prioritizing compliance efforts, regularly reviewing and adjusting priorities based on changing regulatory requirements and business priorities. Strategic prioritization is key to successfully navigating the compliance landscape and minimizing organizational risk. By employing these strategies, compliance professionals can maximize their impact and ensure regulatory compliance effectively. So, what do you think?

🚀 Your opportunity to be a 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗰𝗮𝘁𝗮𝗹𝘆𝘀𝘁 has arrived! The Compliance Officer is an incredible individual in each organisation, ensuring that every move or decision aligns with the highest standards of integrity and compliance. As we explore the essence of compliance through the insights of our Compliance Advocates and champions, we discover that compliance is not all about rules; it’s a journey shaped by individual commitment and organisational trust. 🔒 💡 Reflecting on the evolution of the compliance function, our Compliance Advocates dispel the myth that compliance is dull. Instead, they highlight its dynamic nature, driven by regulatory updates that demand continuous self-improvement. 📚 At SIDC, we designed the 𝟯-𝘁𝗶𝗲𝗿𝗲𝗱 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗖𝗲𝗿𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗣𝗿𝗼𝗴𝗿𝗮𝗺𝗺𝗲 (𝗖𝗖𝗠𝗣) to cater to individuals at varying levels. Whether you are starting your compliance journey or seeking to enhance your compliance skillset, there’s a programme that fits you perfectly! 🌟📈🔍 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐞𝐝 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐫𝐨𝐟𝐞𝐬𝐬𝐢𝐨𝐧𝐚𝐥 (𝐂𝐂𝐌𝐏) - 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝟏 This programme is tailored for everyone, particularly aspiring compliance professionals. It encompasses, among other topics, essential compliance concepts, functions, approaches, tools and skill sets related to capital market laws, principles and regulatory requirements. 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐞𝐝 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐫𝐨𝐟𝐞𝐬𝐬𝐢𝐨𝐧𝐚𝐥 (𝐂𝐂𝐌𝐏) - 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝟮 Designed for individuals who have completed CCMP-C1 or have at least 2 years of experience working in Compliance, this programme aims to further enhance their competencies, enabling them to become more effective Compliance Officer. The coverage goes beyond compliance concepts and frameworks, focusing on practical and impactful aspects of compliance. This includes essential behavioural skills and future-relevant competencies for compliance professionals. 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐞𝐝 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐫𝐨𝐟𝐞𝐬𝐬𝐢𝐨𝐧𝐚𝐥 (𝐂𝐂𝐌𝐏) - 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝗔𝗱𝘃𝗼𝗰𝗮𝘁𝗲 (𝗖𝗔) Specifically designed for experienced Compliance Professionals, this programme empowers them to lead, mentor and engage in roundtable discussions and dialogues addressing challenges and issues in compliance related to business sustainability in the capital market, digital technology and other disruptors forces. Its goal is to transform Compliance from a functional role to one of advisory and advocacy. If you are passionate about compliance or already immersed in this industry, come join us to enhance your expertise today! 🌐 Don't hesitate! Click on the link below to get further details on the 𝗖𝗖𝗠𝗣 𝗽𝗿𝗼𝗴𝗿𝗮𝗺𝗺𝗲s or contact our sales team at FaridK@sidc.com.my for more information. Let's sculpt your compliance future into a masterpiece! 📩🗣️🔗 https://lnkd.in/gTaY7_5m #SIDCMY #Compliance