Compliance professionals must bond together to share experiences and tactics to allow the profession to truly provide the value that shareholders, customers, creditors and regulators demand. Open discussion and sharing is the key to success. This session will provide transparent insight into real life scenario difficulties and alternatives for action by the compliance professional.
The compliance profession has emerged as one of the critical job roles in corporate America. The ongoing onslaught of legislation and regulatory guidelines in every industry has heightened the need for professionals who can effectively and efficiently develop and manage strong compliance programs. In the past, these roles were often considered the responsibility of professionals with legal or audit experience. In today's world, professionals from a multitude of disciplines have found themselves in positions of compliance responsibilities.
Due to the wide variety of compliance laws and regulations, compliance professionals must have the skills and fortitude to be able to execute their responsibilities in a manner that is both independent and objective. Theoretically, this concept should be a known aspect by companies and they should embrace the concept of independence and objectivity. In reality, internal compliance professionals are still employed by the company and a perception of undue pressure can impact the ability to truly execute responsibilities in a completely objective and independent manner.
Objectives of the Presentation
Why should you Attend
- The requirements of professional skepticism
- Compliance rules defining independent roles
- Identifying the difference between legality and ethics
- The top five techniques to ensure the compliance roles independence
- The top five techniques to assist when employing objectivity
- What to do when management challenges you
This session is designed to share key concepts that all compliance professionals should employ to ensure their work can be represented as independent, objective and ultimately provide the greatest risk mitigation to their companies.
Every compliance professional faces situations and scenarios where they feel their independence and objectivity related to an issue is impaired. They may feel pressured by management to minimize their report finding or in some cases, look the other way. When this occurs they are faced with the dilemma of 'what do I do' or 'how do I handle this situation.' These are the types of situations that our University programs do not prepare us for. Experience can often be the best teacher. However, all individuals should be armed with some basic concepts that will prepare them to choose the right path when such difficult situations occur.
Who will Benefit
- Chief Compliance Officers
- Chief Risk Officers
- Chief Legal Officers
- Chief Audit Executives
- Internal Auditors
- Risk Professionals
- Compliance Professionals
- Quality Assurance Professionals