Categories
Career Resources

Best Corporate Compliance Software 2021

Corporate regulatory compliance activities have evolved over time. Traditional risk and compliance management systems don’t cater to more complex compliance requirements and legacy compliance management controls are unable to catch up to the risk management needs of modern companies. That’s where corporate compliance software comes in. 

These systems present the ideal risk management solution for today’s enterprises and can be 

If you’re looking to implement a software-based compliance program at your , keep reading. In this article, I’ll list the 5 best corporate compliance software for 2021.

What is Corporate Compliance Software?

Simply put, compliance management software is any virtual platform or tool that helps companies know what rules and regulations apply to them, how they can implement policies to comply with those rules, and what they need to do to avoid noncompliance.

Different companies have different and varied range of compliance requirements. 

Furthermore, some regulations may apply to nine out of ten companies, while a completely different set of regulatory requirements may apply to the one. 

Compliance software systems help companies keep track of which rules apply to them, while also reducing the risk of legal trouble from noncompliance, as well as business loss due to penalties.  

Top 5 Corporate Compliance Software of 2021

The ideal compliance management software for your depends on the size of your workforce, the scope of operations, and location, among other factors.

That said, there are some compliance software systems that are beneficial for every enterprise, regardless of the industry it operates in, or the laws applicable to it.

Here are the 5 best corporate compliance software solutions for 2021 and beyond. 

1. CyberOne

CyberOne is a governance, risk, and compliance management software that allows businesses to identify, analyze, and eliminate cybersecurity and noncompliance issues. 

The system works across a variety of industries, including healthcare, retail, automotive, and financial services, among others.

CyberOne offers companies the ability to implement advanced audit management while also functioning as a progressive policy management tool. The corporate compliance program features an incident management system that highlights potential risks before they take effect.

The major benefits of the platform include:

  • Enables regulatory compliance in accordance with HIPAA, PCI, ISO, and other standards
  • Provides threat escalation alerts for proactive compliance
  • Allows integration with several third-party applications such as SAP, Okta, and Splunk
  • Managers can maintain a risk ledger containing prevalent and mitigated issues.

The platform offers a monthly subscription service with extended support.

Overall, CyberOne is the ideal compliance management solution for enterprises looking to meet data regulatory requirements while having the ability to streamline the cybersecurity risk assessment and mitigation workflow.

For more information, visit CyberOne.

2. MetricStream

MetricStream is a dedicated corporate compliance management system that offers a high level of internal compliance functionality.

The software helps companies implement real-time risk reporting and automate workflows while improving noncompliance remediation for business continuity. 

MetricStream offers companies various compliance and case management capabilities, including compliance issue recognition via surveys, document management, conflict of interest disclosure, and more. 

The prime benefits of the platform include:

  • A centralized data hub for all compliance and quality management obligations
  • The ability to generate compliance scores across processes, geographical locations, and business units
  • Streamlined integration of compliance and ethical activities
  • Real-time noncompliance risk reduction via increased compliance program visibility

Overall, the software is ideal for companies looking to implement a dedicated compliance management platform into their legal framework.

To learn more, visit MetricStream.

3. Enablon Compliance Management

The Enablon compliance management system is a software tool designed to highlight any and all applicable laws, rules, and regulations for companies. 

An effective GRC solution, the software helps companies understand compliance policies on a , state, federal, global, and even website level. It also assists managers in implementing any required changes to regulatory policies, within the organizational framework.

The primary functionality of the software is geared towards eliminating existing compliance deviations and preventing any future instances of the same. 

Some of the benefits of the platform are:

  • The ability to bring all policies, permits, and regulation data in one location
  • Helps improve how a manages major and minor changes to current regulations
  • Provides the management complete visibility of compliance performance and requirements
  • Allows companies to integrate regulatory compliance policies (code of conduct, data security, etc.) on the individual employee level

Overall, the software functions well as a one-stop compliance management system with built-in audit, inspection, and risk management capabilities, at competitive pricing. 

For more information, visit Enablon.  

4. Navex Global

Navex Global is a dedicated governance, risk, and compliance management platform that offers extended functionality in the area of risk mitigation and policy implementation. 

The system is divided into two distinct areas, namely ethics and compliance, and risk management. 

In terms of ethics and compliance, the software offers an integrated solution in accordance with various national and global regulation standards (FDA, GDPR, etc.). On the risk management side, companies get GRC management that  lifecycle, IT, healthcare, and business continuity issues. 

The major benefits of the platform include:

  • Coverage for all major and minor areas of risk, including people, business processes, and expansion plans
  • Ability to meet a wide range of regulatory requirements with added risk documentation
  • Integrated ethics solutions for greater retention and fewer conflicts of interest 
  • Risk management tool for external risks such as supply chain disruption and vendor compliance failures

Overall, Navex Global is the ideal solution for companies seeking governance, risk, and compliance management tools and risk documentation platform in one software. 

To learn more, visit Navex Global.

5. Quantivate

The Quantivate Compliance Management software is a simplified legal risk mitigation platform that provides a robust compliance management solution to companies of any size.

The platform is geared more towards knowing prevalent legal regulations, analyzing potential risks, and implementing necessary policies to avoid said risks. 

It allows compliance officers and managers to monitor current regulations and requirements while organizing compliance documentation and reporting. Additionally, the software serves as a strong platform to generate and demonstrate proof of compliance to external authorities. 

The benefits of the Quantivate compliance software include:

  • Automated compliance management processes that help reduce human (legal) error
  • Built-in compliance reporting tool for greater accountability across the board
  • Real-time compliance status tracking with regulatory change alerts
  • Compliance policy assessment forecast that allows managers to see how certain policies will impact the organization

Overall, Quantivate offers a simple yet effective solution for companies with fundamental risk aversion and compliance management needs.

For more information, visit Quantivate

Things to Look For in the Ideal Corporate Compliance Software

As mentioned earlier, the is the ultimate deciding authority on what they require in a compliance management platform.

However, there are some compliance platform qualities that are beneficial to all organizations, regardless of regulatory needs.

These include, but are not limited to:

  • Strong Legal Policy Tracking: Companies need to be aware of what legal requirements apply to them, at all times. The best compliance software systems track regulatory changes in real-time and immediately alert the of any change in policy.
  • Broad Compliance Standard Range: The ideal compliance software contains policy integration with a wide array of both and global compliance standards.
  • Effective Risk Assessment: The degree of compliance risk dictates the measures a takes to mitigate those risks. Top compliance software tools evaluate risks and propose the most effective solutions.
  • Extended Support and Competitive Pricing: Since companies need their compliance solutions to expand the repertoire with operational expansion, the best platforms offer flexible and affordable pricing, as well as constant support.

Additionally, compliance management software should be highly-customizable to the needs of the host . Tools that offer customizable dashboards can help compliance managers arrange user data as per the needs of the department, and the at large.

Ending Note

Legal guidelines and compliance requirements are something that no organization can overlook, no matter what their circumstances are. 

This brings up the need for compliance management programs that take into account the prevalent regulatory requirements of the , as well as the potentially applicable laws in the future. 

When choosing such a software system for your , make sure you evaluate your immediate, median, and future compliance management needs, and adopting a software system that suits those and any future needs.

Categories
Career Resources Culture

How to Conduct a Corporate Compliance Audit

Compliance auditing is an integral part of corporate governance. However, with corporate hierarchies and business structures becoming so complex, the question arises of how to maintain an organization’s compliance with applicable laws? More importantly, how to conduct a successful corporate compliance audit that considers all compliance risk areas and appropriate policies?

The answer depends on various factors such as the ‘s compliance standards, legal action plans, and each department’s own compliance policies.

In this article, I’ll give a full breakdown of the ideal compliance audit, as well as the necessary steps to take when building a regulatory compliance program.

Let’s get into it.

What is a Corporate Compliance Audit [A 2021 Overview]

Basically, a compliance audit is an evaluation that finds out whether a is following both internal, as well as, state, and federal laws and regulations.

These laws could relate to multiple areas, such as recruitment, operational procedures, transactions, mergers, etc.

For example, healthcare providers have to adhere to the Health Insurance Portability and Accountability Act (HIPAA) that protects the data of patients from being lost or unfairly traded.

Generally, compliance audits are carried out by regulatory agencies that send over compliance auditors. External audits are usually performed after contacting the internal compliance department. 

On the other hand, internal audits are performed by the ‘s own compliance officers who act as internal auditors and observe all departments for compliance issue risk assessment. 

Different companies have different regulatory requirements. Auditing success really depends on their approach to the perfect corporate compliance program.

How to Conduct a Corporate Compliance Audit in 2021

The nature of the compliance audit function depends on the size, scope of the , as well as the industry in which it operates.

However, there are some steps that are constant across most audit types, internal or otherwise. 

Here is a step-by-step guide to performing a corporate compliance audit in 2021.

1. Hiring/Contacting the Auditor(s)

The first step is to contact the auditor and schedule the audit for a certain date.

Whether the auditor is a consultant or an in-house member of a compliance committee, they need to be kept at a figurative distance from the inner workings of the . this is to ensure an impartial evaluation. 

In case you’re contacting a consultant or external compliance team, you need to discuss the extent of the auditing needs to determine whether the individual fits the evaluation needs of the .

2. Building Legal Safeguards

Once you have hired or confirmed an auditor, they will send a proposal to either the ‘s legal counsel or the internal legal officer.

This is to remind them of instances where they may invoke legal privilege between the attorney and the client. 

The reason for this step is to alert the auditor of details that may result in financial losses for the , should they have to undergo corrective action due to noncompliance. 

3. Preliminary Meetings

After the legal necessities have been discussed, the auditors will either meet with the representatives or forward them a list of requirements for the audit.

In case the auditing party has confirmed the specific evaluation needs of the beforehand, they will prepare an auditing checklist and discuss the requirements with the concerned party.

This is done to allow management to get their affairs in order before the audit. It’s important to note that this level of allowance will mostly be given for internal audits, as government authorities usually don’t send repeated follow-ups for confirmation. 

4. Performing the Audit

Depending on the size and evaluation requirements of the , the auditor will then perform an audit via phone/video call, or in person.

In the case of a virtual assessment, the auditor will send various questionnaires and required document lists to the management, which they then supply as per the demands. 

When conducting an in-person audit, the auditor might do the above in addition to visiting the facility, conducting a visual inspection of the , and even interview the staff to gauge the prevalent code of conduct.

The extent of the evaluation is always up to the auditor and they may change the nature of the audit depending on the viability of each method.

5. Providing Audit Reports

Once they have covered all the relevant areas in the assessment, the auditor generates an audit report and presents it during a final meeting. 

If the compliance audit covers just the facility, then the turnaround time of the report should be 1-2 business days. Full-scale audits may take longer to conduct and generate reports for. 

During the final meeting, the auditor will discuss the compliance status of the with the senior management and any and all legal/regulatory risks the might face. Additionally, they might offer risk management assistance, in case the needs post-audit follow-up support.

Whether the compliance audit is purely internal or in accordance with government standards, management needs to ensure consistent compliance regardless. 

The leadership needs to develop effective internal controls and compliance functions, while also providing compliance training to all concerned parties to prevent noncompliance.   

7 Components of a Successful Corporate Compliance Audit

Compliance auditing can be a complex process, especially for bigger companies with multiple sites and a wide array of operations. 

Today, when companies are diversifying operations and have to comply with so many regulations, there is a chance that in an effort to be totally compliant, they may overlook one or more key legal areas. 

This creates the need for companies to upgrade their compliance methodology and implement a few best practices that will help them become more compliant. 

Here are some of the considerations all companies should make in order to become more compliant and pass any audit, no matter how detailed.

  • Knowledge of Operations: The management should know the extent of their operations and should know the legal risks they might face in case of noncompliance. Being honest about the compliance requirements will help the implement long-term compliance measures and contingency plans for any eventuality.
  • Active Compliance Management: It’s not enough to form an internal audit committee and leave compliance management to them. Instead, the management should take an active role in ensuring compliance across the board. Furthermore, they should develop compliance plans and provide continued compliance training for all employees.
  • Developing a Compliance Culture: Becoming compliant starts with adopting a culture that runs on the ideals of accountability and integrity. Management should instill values and a code of ethics that prevents noncompliant activities from the start. Furthermore, they should implement incentive programs for anyone who successfully follows the compliance culture.
  • Training for Compliance: The compliance requirements shouldn’t just exist within the operational level. Management needs to train even high-level employees on compliant practices when implementing operational changes or putting mergers/transactions into effect. Additionally, they should have an onboarding plan that includes dedicated compliance training for all employees.
  • Establishing a Compliance System: Compliance can’t be maintained by simply changing things around after a risk assessment session. There needs to an effective compliance management system in place to prevent, identify, and rectify compliance risks before they become full-fledged legal issues. 
  • Extensive Preparation: Auditing can involve both written questionnaires and in-person inspections, interviews, and observation. Gauge the evaluation needs of your and prepare in advance by selecting participants, setting expectations, and providing adequate reference criteria to meet the requirements. 
  • Setting Controls: Even if you have prepared for the audit, chances are it might reveal some vulnerabilities and legal risks. To counter that, develop an audit control plan with contingencies and risk-aversion strategies for each perceived risk. Additionally, conduct regular internal audits to identify risk areas in order to develop contingencies for them. 

Furthermore, companies should set up compliance management systems as per legal guidelines such as the United States Sarbanes-Oxley Act and other state-level regulations. This will help them prepare for more stringent audits by government entities.

Ending Note

A corporate compliance audit can help companies prevent serious legal repercussions from multiple authorities.

However, management should always look towards more proactive noncompliance-prevention methods such as periodic internal auditing and inspections. 

In conclusion, it’s better to breed a culture of active compliance and ensure that each employee adopts it as best as they can.

Categories
Career Resources

How to Implement a Corporate Compliance Plan

Ever since the United States government started heavily regulating various industries, it has become crucial to stay compliant. While many small businesses only have to play by a few rules, larger organizations have to develop complete corporate compliance plans. 

To follow all the applicable laws, including federal laws, state laws, and local laws, you need an effective corporate compliance plan, along with compliance policies, training programs, and an effective compliance program. 

In this article, we’ll go over what a corporate compliance plan is and how you can develop and implement it effectively as a corporate compliance specialist

Let’s dive right in. 

What is a Corporate Compliance Plan? Why is it Important? 

The compliance world is constantly changing with new laws like GDPR, HIPAA, False Claims Act, and CCPA being introduced. Simultaneously, the level of scrutiny on whether companies are following rules and regulations is also increasing. 

Therefore, each organization can launch a corporate compliance program to ensure it complies with all relevant laws and regulations. 

With so many new organizations coming up every day, you can’t expect good faith and ethical practices from all of them. Therefore, it’s critical to have local, state, and federal laws governing each company and maintaining ethical conduct. While determining the ethical standards for fair business practice can take some trial and error, it’s much easier to maintain ethical behavior. 

Every company requires complete regulatory reporting to ensure there is no noncompliance possible, such as fines, lawsuits, or other compliance issues. It’s crucial to file certain reports on time, including quarterly financial statements, annual billing reports, health & safety alerts, and other documents. The compliance department has to ensure all the data is correct, relevant, and filed properly. 

To do that, compliance officers use a corporate compliance plan to make the process more efficient. Corrective action in the form of a corporate compliance plan ensures all risk areas are being monitored, all compliance concerns are dealt with, and that there’s appropriate disciplinary action against compliance violations. 

In such cases, even an alleged violation against applicable federal laws can be disastrous. Therefore, it’s crucial to be ready for any potential violations, auditing, and internal investigations. 

The importance of a corporate compliance plan is much more than most companies consider. If you’re unable to maintain compliance standards (especially in things, such as health care programs like Medicare and Medicaid) and your case lands in the OIG (Office of Inspector General), your organization will be in serious trouble. 

Steps to Implement an Effective Corporate Compliance Plan 

To avoid unnecessary issues, you should reevaluate current corporate compliance plans too, and implement corrective action plans to manage them effectively. Consider how well the current plan is designed, whether it’s being applied appropriately and whether it actually works. 

In any case, when deciding on implementing an effective corporate compliance plan, you can follow these steps. 

  1. Conduct a Well-Rounded Risk Assessment 

Risk assessment is at the core of every company’s compliance matters because a corporate compliance plan essentially saves the organization from risk. Therefore, it’s crucial to start with figuring out what risks the company faces. The best way to do that is to conduct a full risk assessment. 

Typically, when you’re assessing risk, you should keep the location of the facilities in mind, the industry, regulatory landscape, potential clients, business partners, foreign transactions, foreign official payments, and the competitiveness of the market. You may also have to consider any gifts you’ve received, use of third parties, travel logs, entertainment expenses, and any charitable, political donations. 

While most of those factors don’t apply to many businesses, it’s best to understand and know all of them. The point is to understand the standards of conduct and explain them to all relevant stakeholders, including current employees, new employees, board members, legal counsel, senior management, and more. 

There are some well-known frameworks like the ISO 31000 and COSO that most corporate compliance officers use. However, most organizations tailor the risk assessment process to cater to particular needs. 

In any case, the risk assessment will let you: 

  • Identify, monitor, analyze, and take care of any organizational risks. 
  • Provide the necessary information needed to allocate resources depending on the severity of each risk. 
  • Allow you to be flexible for reiteration and regular reevaluation of the current and potential risks. 

It’s crucial for the compliance officer to communicate the risk assessment with the board of directors and senior management before moving on. 

  1. Develop Corporate Policies and Procedures 

After your risk assessment, you have to move on to developing and establishing compliance policies and procedures. At this stage, you have to follow a code of conduct, but you can also include company-specific legal requirements. 

You may have to draft a compliance committee initially to ensure policymakers understand what they’re doing. It also helps avoid any conflicts of interest, confidential information leaks and improves internal controls. 

Corporate policies help develop standard procedures for any potential ethical or compliance issues. At times, the policies may have to be adjusted according to the latest risk assessments. Therefore, it’s also important to offer compliance training to maximize the understanding of each employee. 

  1. Communicate and Train with Employees 

While things like retention are crucial for each company, it’s more important when you consider compliance activities. Most organizations have a condition of employment that disallows employees to directly report any compliance issues. However, to avoid that, new regulations were put in place where whistleblowers were given more power as each company was mandated to have a hotline for any complaints. 

In such cases, it’s crucial to maintain a non-retaliation stance to minimize kickback. That’s why it’s crucial to constantly communicate with all employees and provide them with the necessary training. Employees that are not fully trained can’t be held accountable for any issues or lousy compliance efforts. 

 Usually, your training program should include: 

  • A Risk-Based Approach – Each employee with high-risk business units should receive extra training and attention. Offer them reimbursements, referral opportunities, and more to ensure maximum communication. 
  • Tailoring to a Specific Audience – Training should be given in the employees’ native language and format. 
  • A History of Past Episodes – The training should include previous issues with employees and the consequences of those issues. 

It’s crucial to maintain a two-way feedback channel too to help make the process more efficient. 

  1. Reporting and Investigations 

After you’ve identified the risks, developed corporate policies, and trained the employees, you should follow-up with reporting and investigations. This step allows you to find out if any employee ignored the rules, if the organization missed something, or whether there are any additional issues. 

Each organization has a designee who witnesses any potential compliance violations and reports them to senior management. After a report is made, you need to use a systematic approach to verify the report. Even company the ‘family members’ should be investigated to ensure maximum transparency. 

Employees should feel comfortable reporting any questionable activities without fearing any retaliation. Therefore, a strong whistleblower process should be implemented where anonymity is the primary concern. 

  1. Including Third Parties 

Third parties pose the most risk to organizations as there are no conflicts of interest. In most cases where a third party is involved, there has been some sort of discrepancy. Both the payers and employees face the issues brought on by including third parties. 

Therefore, it’s imperative to have a due diligence process to vet third parties. That can include partners, consultants, vendors, customers, and more. 

Your due diligence process should: 

  • Take a Risk-Appropriate Approach – Spend as much time as possible, investigating all the third-parties you’re working with to minimize risk. 
  • Connect to a Broader Risk Framework – It’s crucial that the risk framework and due diligence process have the same goals. It’s important to communicate your company’s risk tolerance because it’s crucial to be transparent with all third parties. 
  • Balance Internal Structure and Resources – It’s critical to use technology to identify and manage any red flags in the process. Automation can be used to significantly reduce redundant tasks in such cases. 

It’s especially important to avoid third parties during internal audits and checks. 

Implementing a Great Corporate Compliance Plan 

Corporate compliance isn’t just important in major hubs like New York and San Francisco anymore. Every company in every industry needs to follow strict rules and regulations to maintain their business. 

It’s important to follow the steps mentioned above to effectively implement your corporate compliance plan. However, keep in mind that each organization and industry is slightly different and may need additional tweaking. 

A great corporate compliance plan is one where you follow the right steps while including company-specific factors, ensuring complete compliance.

Categories
Career Resources Resumes

Chief Compliance Officer Resume Examples

Responsible for overseeing regulatory corporate compliance of an organization, the chief compliance officer is a crucial part of the senior management team. A chief compliance officer resume should therefore be perfect from every angle to meet the high standards of modern recruiters.

Whether you’re an existing or an aspiring CCO, having a meticulous resume is mandatory for any candidate.

After all, handling the compliance functions of an entire organization is no child’s play. The human resources team tends to reject resumes left and right when recruiting for this position.

If you’re looking for chief compliance officer resume examples, keep reading. In this article, we’ll list down the best resources from where you can download resume templates.

Let’s get started.

Who is a Chief Compliance Officer?

If you’re applying for the position of a COO for the first time, you should have a firm grasp over what the role entails.

A chief compliance officer is a senior-level executive who is responsible for creating, implementing, and monitoring a compliance program in the organization. Their main responsibility is to ensure that the organization governs itself in a way that it complies with the various applicable policies, regulations, and laws.

To that end, they perform risk assessments, work with the company’s board of directors to create compliance policies, design and execute compliance training programs, and perform compliance audits.

Here’s a brief summary of a typical chief compliance officer’s job description:

  • Lead the compliance department and report to the chief executive officer/vice president on compliance issues
  • Collaborate with the company’s general counsel/in-house attorney to perform risk management
  • Create in-depth systems, policies, and procedures in light of the compliance risks
  • Advise the board of directors regarding the various compliance issues
  • Oversee the compliance committee and perform internal audits
  • Oversee the compliance training program
  • Address non-compliance issues within the organization

Of course, the actual duties and responsibilities may slightly vary across different organizations – but you get the gist of it. 

Sources to Download Chief Compliance Officer Resume Examples

From supervising the entire compliance team to helping the company avoid lawsuits, there’s no doubt that chief compliance officers have some of the most challenging jobs ever.

For that reason, your resume should show the recruiters that you’re up for the challenge.

Luckily, there are quite a few websites from where you can download and use top-of-the-line resume samples (or simply get inspiration).

Here are the best ones:

 

  • JobHero

 

Let’s kick off the list with JobHero, which is easily one of the most useful platforms for job seekers out there.

The website offers over 30 different chief compliance officer resumes, including actual professional experiences, skills, credentials, and more.

On the main page, you’ll see a featured resume at the top that you can customize to your liking. To begin, click on the green “Edit This Resume” button. This will redirect you to JobHero’s native resume builder that you can use to create your resume in just 3 easy steps. 

If you scroll further below on the landing page, you can explore more resume examples. These don’t have proper designs. However, they include detailed sample content (professional overview, experience, education, etc.) that you can conveniently copy and paste to a word processing document and use for yourself.

In addition to resumes, JobHero also offers a cover letter builder, templates, formats, job overviews, and other super-useful resources.

 

  • LiveCareer

 

Next on the list is LiveCareer – another comprehensive platform for job seekers, with tools, templates, and resources just as good as JobHero’s, if not better.

As of now, the website has 190+ chief compliance officer resume samples (and 2 cover letters).

Explore through the extensive list of options and click on a resume with a title that’s closest to your profile.

When you click on a resume, you’ll be able to view it in detail. LiveCareer doesn’t let you copy and paste the content like some platforms. If you like what you see, click on the blue button that says “Build Your Own” to begin. 

Like JobHero, you can create your own resume in just 3 easy steps.

Customize the template however you want and build the final resume for free.

However, in order to download, print, and email your resume, you’ll have to subscribe to one of the paid plans.

 

  • MintResume

 

MintResume is a massive resource of professional-looking resumes and helpful content targeted to job hunters.

Unlike the previous platforms, MintResume doesn’t offer a resume building tool. It only offers basic samples that you can easily copy and paste to a word processing software.

At the top of the main landing page, you’ll see a header that says “The Resume Builder.” In reality, they’re only referring to the extensive list of examples they have.

Just below, you’ll see a featured resume that you can use without even having to sign up for anything (simply copy and paste the content, and tweak away).

If you scroll further below, you’ll get expert tips on crafting a professional resume. Further down the page, you’ll get a comprehensive list of typical experiences that go in a chief compliance officer’s resume. 

All in all, if you’re confused about what to include in your resume, MintResume should be your go-to platform.

 

  • QwikResume

 

QwikResume is another lightweight platform for job seekers with resume templates, real samples, cover letters, and helpful resources.

Like MintResume, QwikResume doesn’t have a native resume builder. However, it does give the user the option to build upon templates on a 3rd party website called resume.io.

Furthermore, you can download the templates for free as PDF files. That doesn’t do much as you can’t edit them – however, you can still get inspiration for the design, copy the content, and use it for your own.

As of now, QwikResume has several chief compliance officer resume examples for different experience levels. Each example has a headline (or introduction), list of skills, and descriptions of professional experience.

 

  • Resume Help

 

Last one on the list is Resume Help – a leading platform for building top-level resumes.

The platform has a good few real examples of chief compliance officer resumes that you can leverage to create your own.

Thanks to smart filtering options, you can view resumes for different locations (states and cities) and even filter out results according to job type.

If you find a sample that’s similar to your professional profile, click on it to view it in detail. If you like what you see, you can start customizing it however you want by clicking on the “Customize This Resume” button at the very top. 

This will redirect you to the website’s highly user-friendly resume builder. Keep in mind that this isn’t free to use. The tool lets you change the formatting of the text, play with colors, add more sections, and even run a quick spell-check.

Once you’re done, click on “Save & Next.” The platform will then prompt you to sign up (if you already haven’t) and select a paid plan. After everything has been sorted, you’ll be able to download, email, and print your new resume.

Tips for Creating a Chief Compliance Officer Resume

Seeking inspiration from examples can help, but there are certain tips that will help you craft a job-winning resume.

Here are the basics

Start Off with a Deal-Breaking Introduction

You only have a few seconds to get the attention of the recruiters.

A great way to do that is to craft a killer introduction. 

It should be descriptive, yet concise. The goal is to summarize your entire professional experience in a few sentences.

Mention the key highlights of your career. For instance, a background as an investment advisor, experience with mutual funds, training programs, implementation of action plans, anti-money laundering (AML) initiatives, auditing, etc. are things worth mentioning.

List Academic Credentials

If you have a bachelor’s degree in finance, business administration, etc. or better yet a Juris Doctors degree, list it down (in reverse-chronological order).

Additionally, if you have any relevant certifications, list them as well.

Discuss Relevant Work Experience

This is a no-brainer.

Like your academic achievements, list down your work experience in reverse order.

Don’t just list down the names of the companies you’ve worked with, also summarize the duties and responsibilities they tasked you with, such as asset management, advising on regulatory requirements, taking corrective actions, managing the due diligence program, etc.

List Down Relevant Skills

If a recruiter makes it this far in your chief compliance officer resume, it means that things are looking up for you.

This is your final shot at sealing the deal.

For this particular position, companies are looking for communication skills, organization skills, flair for problem solving, and a knack for project management. Furthermore, proficiency in classic computer programs (like Excel) is a plus.

As a final piece of advice – leave nothing out that would help you perfect your resume and always have a fresh pair of eyes look at the final document before you email it to a recruiter.

Categories
Career Resources Conferences

Society of Corporate Compliance and Ethics: Worth it to Join?

It’s hard to stay compliant at times, especially if you’re working in a highly regulated industry. As the legal counsel or compliance officer of any organization, it can be hard to keep track of all relevant corporate compliance and ethical rules. In such cases, joining the Society of Corporate Compliance and Ethics (SCCE) can give you the edge over other compliance officers. 

However, the Society of Corporate Compliance and Ethics is not just a collection of attorneys and compliance professionals governing each other. The SCCE offers a unique perspective into corporate compliance, helps solve legal problems, and educates companies on business ethics. 

In this article, we’ll go over what the Society of Corporate Compliance and Ethics is, what it’s all about, and whether it’s worth it to join. 

Let’s get started. 

What is the Society of Corporate Compliance and Ethics (SCCE)? 

The Society of Corporate Compliance and Ethics (SCCE) is an organization dedicated to bringing compliance and ethics professionals together. The worldwide, member-based association has over 7,500 compliance and ethics members around the world. 

The Society of Corporate Compliance and Ethics was found in 2004 by the Health Care Compliance Association (HCCA) in a bid to support the compliance and ethics professionals in all industries. Headquartered in Minneapolis, the society was started with a singular vision; to be the number one compliance and ethics association that helps promote and establish success and ethical integrity across various organizations and industries worldwide. 

In 2011, the Society of Corporate Compliance and Ethics incorporated with HCCA to form the Society of Corporate Compliance and Ethics & Health Care Compliance Association (SCCE & HCCA). 

The association is designed to be a massive professional compliance community. That is why each member has access to each other and even the CEO, Gerry Zack. The mission and vision of SCCE are to be the authority on ethical practices and compliance standards. To do so, the Society of Corporate Compliance and Ethics provides relevant resources and knowledge offerings to all ethics and compliance professionals who share the same vision. 

Together, SCCE & HCCA have over 19,000 members, reaching out to various industries simultaneously across the world. With so many members over the years, the association has hosted and set up various seminars, conferences, and more to help compliance and ethics professionals develop a vast network. 

The Society of Corporate Compliance and Ethics also offers several academies across the world. These academies help ethics and compliance professionals become more knowledgeable in their fields. 

The association also has an international compliance conference named the European Compliance and Ethics Institute (ECEI) that offers certifications if you pass their CCEP-I exam. 

Who Are Compliance and Ethics Professionals? 

Compliance and ethics programs help avoid and identify any misconduct by the organization or any employee. They help establish safe and ethical business environments to protect the organization from potential fines and lawsuits. 

Such programs help protect the business, consumers, investors, and the business community at large. Compliance and ethics professionals (CEPs) have to maintain the highest standards of professionalism, competence, and integrity to effectively initiate compliance programs. It’s crucial for them to follow the Code of Ethics as a baseline during their responsibilities. 

Compliance and ethics professionals are generally any groups of people working in the compliance and ethics fields. However, to get the official CEP title, you have to get certified. The Society of Corporate Compliance and Ethics has adopted the Code of Ethics to provide guidance and rules to all such compliance and ethics professionals. The point is to develop them to a point where compliance standards and ethical duties always come first. 

For example, XYZ org has hired a compliance professional to help them deploy their compliance program. While their duty is to the organization, their first priority would be to ensure compliance and ethical practice even if it means that the company will face a loss. 

Furthermore, ethics professionals at companies have to ensure ethical practices across the organization. They have to develop ethics programs for companies to improve the integrity of organizations. As the pre-eminent compliance and ethics experts, they need direct access to all organizational departments and necessary resources. 

At times, these professionals take help from the ethics community or the professional compliance community. However, the fastest source of information is always a nonprofit organization like the Society of Corporate Compliance and Ethics. 

Benefits of Joining the Society of Corporate Compliance and Ethics 

Compliance and ethics professionals can have a hard time networking with their peers. That’s especially true during crises, such as the COVID-19 pandemic. The Society of Corporate Compliance and Ethics offers an online global network that adjusts to changing world dynamics. 

The following are the benefits you get by becoming a member of the Society of Corporate Compliance and Ethics. 

  • Access to over 40 different local and global conferences each year. Becoming a part of the conferences is a great way to earn live Compliance Certification Board (CCB) continuing education units (CEUs) for participation. 
  • Become part of several web conferences over the year that cover various hot topics, allowing you to learn new stuff wherever you want. 
  • You get access to a library of educational products, including books, videos, news-releases, podcasts, and other training materials. 
  • Get a copy of the SCCE’s monthly magazine for all members – Compliance & Ethics Professional. 
  • Also, get a copy of the SCCE’s weekly email newsletter – Corporate Compliance Weekly News (CCWN). You can choose to get the email as a text-only newsletter. 
  • An opportunity to join SCCEnet is there; SCCEnet is a worldwide online social network for all compliance and ethics professionals. 
  • As a member, you can get member discounts on conferences, compliance products, and certification registrations. 
  • Get an official certification through the Compliance Certification Board (CCB). You can opt for the Certified Compliance & Ethics Professional (CCEP), Certified Compliance & Ethics Professional-International (CCEP-I), and the Certified Compliance & Ethics Professional Fellowship (CCEP-F) certifications. 
  • Avail access to the interactive salary survey that’s taken by over 8,000 SCCE members. 
  • Be a part of the Annual Compliance & Ethics Institute. 

If you were part of the Society of Corporate Compliance and Ethics but are retired, you can still opt for a membership. 

How Can You Join the Society of Corporate Compliance and Ethics? 

Joining the Society of Corporate Compliance and Ethics is relatively simple – you can start by filling out their membership application here. You can opt for group membership or student membership and get a discount. 

You will be asked to enter your basic information, primary contact information, and other information, including demographic, alternate contact, option subscriptions, and additional information. 

There are four different types of SCCE memberships at varying rates. The following summarizes each membership type. 

  • Individual Membership – Any compliance and ethics professional can apply for individual membership. Each member of the compliance and ethics profession will have access to member magazines, newsletters, and more, along with discounts on conferences and compliance products. The individual membership costs $325.00 annually, per-person. 
  • Group Membership – The group membership is applicable if four or more people are joining at the same time. The same benefits and discounts apply to all individuals who have a group membership. The rate is $275.00 per person annually. 
  • Student Membership – For student membership, you need to be a full-time or part-time student at a reputable school. Furthermore, you should be unemployed to avail the membership. The rate for student membership is $150.00 annually. 
  • Retiree Membership – To get the retiree membership, you need to have been a member of the Society of Corporate Compliance and Ethics previously. Furthermore, you should be retired from all sorts of active employment and not be receiving more than 500 compensated hours per year. The retiree membership will set you back by $150.00 annually. 

Your compliance program can get an instant boost and lasting success by opting to join the Society of Corporate Compliance and Ethics. 

Is it Worth it to Join the Society of Corporate Compliance and Ethics? 

As compliance and ethics professionals, you have a duty to abide by the laws and regulations of the United States. It’s crucial to learn as much as you can, expand your horizons, and understand better business practices. 

The Society of Corporate Compliance and Ethics offers that knowledge, along with networking opportunities that are far better than what you can do on sites, such as LinkedIn. 

As a member of the Society of Corporate Compliance and Ethics, you have access to thousands of compliance and ethics experts, learning materials, and more at your disposal. 

In any case, as a compliance and ethics professional, you should most definitely consider joining the Society of Corporate Compliance and Ethics.

Categories
Career Resources Culture

Best Corporate Compliance Programs to Initiate in 2021

Over the years, corporate compliance evolved from simply reporting specific data to government agencies. In the high-risk environment of today’s world, it warrants setting formal policies, extensive training, and monitoring to ensure regulatory compliance – otherwise known as a corporate compliance program.

The two underlying goals of any compliance program are the same – to promote ethical behavior throughout the company and stay compliant with the law. But while moving to the future, which areas do corporations need to focus on specifically?

In this article, we’ll talk about the corporate compliance programs to initiate in 2021, along with the ingredients that make an effective compliance program.

Let’s get started.

What is a Corporate Compliance Program?

Before jumping into the specific programs, a crash-course on corporate compliance programs, and why they’re essential, might be useful.

A corporate compliance program refers to a formal system through which a company ensures that its employees and external business partners behave and operate in accordance with the laws that apply to them.

A company’s compliance program consists of formal corporate policies for internal control, training programs, monitoring systems, and escalation and remediation protocols. 

The company’s chief compliance officer is usually responsible for creating, managing, and monitoring its corporate compliance programs and ensuring that all relevant stakeholders – board of directors, employees, and third party entities respect and follow the established code of conduct.   

Why Corporate Compliance Programs are Needed

Establishing and running formal programs may seem like an unnecessary use of resources to the inexperienced eye. 

While the definition of an “effective corporate compliance” program may vary from company to company, all corporations have to employ some level of compliance efforts to protect them from various risks.

These efforts can be as simple as only creating compliance policies and regulations, to as elaborate as having training programs, using compliance software, and having internal compliance audits.

In any case, with a corporate compliance program, you can:

Protect Your Company’s Reputation

An obvious reason to have a compliance program is to protect your organization from legal action. 

However, lawsuits aren’t the only things you should be worried about. Another potential risk of non-compliance is losing your company’s credibility/reputation.

For instance, if the board of directors has a history of compliance issues, it can get in the way of potential profitable business deals, drive talent to seek employment with your competitors, and more.

Protect the Company from Legal Action

An obvious risk of non-compliance is legal action from prosecutors.

Having a corporate compliance program can protect you in two ways:

  • With an effective program, you can significantly cut down on chances of non-compliance.
  • If an employee of your organization is charged with non-compliance (such as bribery), you can protect your corporation by showing the prosecutor that the accused broke the law despite your company’s efforts to educate, train, and prevent them.

Having a compliance program doesn’t eliminate the possibility of non-compliance. But it can help reduce it.

Protect the Company from Monetary Penalties

Last but not least, a compliance program, by keeping your employees in line, can protect your organization from hefty monetary penalties.

In the United States, there are several laws such as the Foreign Corrupt Practices Act (FCPA), Fair Labor Standards Act, etc., that ensure responsible and fair practices from businesses. Strict disciplinary action is taken against a business that doesn’t comply with these laws.

Corporate Compliance Programs to Initiate in 2021

In the digital age where transparency is crucial, it’s more important than ever to invest in corporate compliance programs.

Having a solid ethics program is a must for everyone. But what risk areas do compliance officers need to consider moving to 2021?

Depending on recent events and the current climate, here are a few corporate compliance programs you should consider initiating in 2021 (these can either exist as separate initiatives or as components of one central program – it’s completely up to you):

Non-Intimidation

There are many labor laws that prevent the leadership of organizations from exploiting or wrongfully intimidating their employees.

A relevant example includes the Families First Coronavirus Response Act, under which, certain employers are required to provide paid sick leave or expanded family and medical leave to their employees if they meet certain conditions. 

If an employee is eligible for leave, the employer must comply and cannot give threats.

Another example is the No FEAR Act, which applies to government agencies.

Considering all of the above, it’s important to have a special program that trains the senior management from breaking these laws.

Non-Harassment 

Workplace harassment, whether physical, verbal, or visual, stems from a lack of ethics and general decency.

Employees can file for formal administrative complaints against their employers with the US Equal Employment Opportunity Commission (EEOC).

To prevent that from happening, a special non-harassment program that raises awareness, trains employees, and establishes regulations can go a long way in ensuring compliance. 

Anti-Corruption

Laws like the FCPA exist to prevent businesses from using underhanded tactics (such as bribing foreign officials) to achieve strategic goals.

In case you don’t already have one, you should consider initiating an anti-corruption program in 2021.

Such a program could involve monitoring the corporate expense accounts of employees belonging to senior management, and questioning them about any suspicious expenses. 

Whistleblower Program

One thing that truly helps enforce a corporate compliance program is a human firewall. 

When employees report unlawful activities, they should ideally report them to the concerned internal department. However, most of the times, they’re afraid of the consequences, especially when the person they have to report is a senior executive. 

For that reason, you must have a solid whistleblower program in place, one that encourages employees to come forward and has a hotline for confidential reporting.

Third-Party Due Diligence

As mentioned earlier, corporate compliance doesn’t only apply to the employees of an organization. Third-party partners, such as suppliers, retailers, contractors, consultants, and attorneys should also be in full compliance with the laws.

If they’re not, it would look bad for your company and possibly result in prosecution. 

Because of that, you need to have a third-party due diligence program that screens business partners, informs them about their compliance obligations, and educates them about the company’s policies.

Setting Up Effective Corporate Compliance Programs

In most cases, businesses are free to set their compliance policies and regulations however they like, as long as they follow the law.

But in order to create a successful compliance program, there are certain factors that must be considered. These include:

 

  • Clear Objectives

 

First and foremost, you need to set clear objectives for your corporate compliance program.

It all starts with a thorough risk assessment, which involves looking at the various compliance risks for your organization.

Once you identify said risks, devise programs around them, and set quarterly, annual, or 2-year goals to track the effectiveness of your program.

 

  • Formal Training Program

 

To establish a culture of compliance, you need some form of compliance training.

Ideally, a training program should be formal, with its own goals, and administered through a proper learning management system (or at least documented). 

You can share mandatory training modules and arrange workshops. 

To ensure optimal performance, you can even send your chief compliance officer and other senior leaders to a compliance conference.

 

  • Monitoring

 

A close evaluation of corporate compliance programs is necessary to ensure you’re not wasting potentially thousands of dollars.

For that reason, you should have a system for collecting and refining data relevant to the objectives of your corporate compliance program.

Furthermore, create an internal audit committee, responsible for auditing and ensuring program effectiveness.

 

  • Escalation and Remediation

 

You just created policies, administered training, and set up a method for analyzing the program’s effectiveness – what’s next?

The only thing left to do is to create systems for escalation and remediation.

Escalation refers to proactively looking for any red-flags within the system.

Remediation, on the other hand, refers to taking appropriate steps to address and mitigate any potential risk.

Final Thoughts

Laws, regulations, and disciplinary measures are set in place for a reason. 

Aside from the ethical obligation, businesses must comply with all the applicable laws to protect their employees, ensure fair practices, and avoid devastating monetary losses in the form of fines.

In 2021, having programs that promote safe environments for the employees, stop corruption, and screen strategic partners will help win the race.