Compliance: from a theoretical set of rules to lived practice
Non-compliance with rules can lead, among other things, to profit reductions, higher legal costs, corporate penalties, reputational and financial damage or, depending on the severity of the offence, to the loss of the entire company's existence.
Avoiding these risks through appropriate prevention and checking and adapting the implemented measures and processes for adhering to the rules are my speciality.
Years of practice in the national and international finance and insurance sector contribute to the fact that I can quickly familiarise myself with the processes and the technical issues in order to talk to you and your employees competently and at eye level. Thus, compliance becomes not only a theoretical set of rules, but a self-evident and lived practice.
- Support in the definition and implementation of a compliance management system
- Carrying out compliance audits
- Preparation of audit reports
- Support in the creation of a company-specific compliance management system
- Assessment of compliance management systems
- Set up and conduct compliance training
- Supporting the Compliance Officer in his or her tasks
Translated, compliance means "conduct in accordance with rules", i.e. in the narrower sense, adherence to external and internal rules and regulations such as laws and working instructions. In this respect, a compliance management system is nothing more than a structured, auditable set of rules that must be adhered to within the framework of processes.
A compliance management system includes, for example, requirements such as:
- Code of Ethics
- Anti-Corruption Policy
- Avoidance of conflicts of interest
- Whistleblowing Hotline
- Data protection requirements
- Environment and sustainability guidelines
- Competitive specifications
In addition to assessing the effectiveness and functionality of implemented compliance management systems, my tasks as an expert also include advising and supporting the implementation of appropriate compliance management systems based on a risk-based approach.
It is important to develop an understanding of the needs and risks of the company, because an overburdening compliance management system can quickly become a risk in itself - too much of a good thing also often leads to a lack of attention!