If you work as an in-house lawyer at a large, mature company, odds are good that the company has a well-functioning compliance department. In-house lawyers constantly look for ways to avoid or lessen risk that can damage the company. A strong compliance department moves the company from reactive to proactive in detecting and preventing wrongdoing. Besides avoiding trouble, this can lead to substantially reduced fines with regulators who, as a first step, usually zero in on whether the company has a robust compliance program or not. The compliance department also helps establish the right ethical tone at the company, a tone that makes it easier for employees to make the right choices.
Risk functions must be reimagined - KPMG Australia
Discover new insights for the future of ethics and compliance. Across all industries, an intensely heightened awareness of ethical behavior has elevated the need for executive leadership in the areas of ethics and compliance, and it is prompting change. Based on a survey of chief ethics and compliance officers CCOs representing the largest organizations across multiple industries, the report identifies mature ethics and compliance areas and offers guidance for improvement where programs still need to advance. Recent high profile ethics failures illustrate the real impact of reputation risk and firms are seeking to avoid these costs by strengthening their abilities to mitigate the risk of misconduct. Industry composite ratings across all survey questions indicate increasing program maturation.
Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. Our flagship business publication has been defining and informing the senior-management agenda since Our learning programs help organizations accelerate growth by unlocking their people's potential. Compliance risk has become one of the most significant ongoing concerns for financial-institution executives.
Cyber security has been a priority — current events have made it an urgent one. Companies of all sizes and maturity levels are falling victim to cyber attacks. Large enterprises are experiencing breaches that compromise the personal information of millions upon millions of individuals, while small-to medium-sized organizations are being targeted as entry points to infiltrate supply chains and gain access to larger organizations. This has made third parties an increased concern for cyber risk, and rightfully so. Cyber attacks are not only increasing in frequency and size but also in complexity.