AUTONOMY & RESOURCES

We help you clarify the objectives of the assessment, such as evaluating the effectiveness of the compliance function, identifying gaps or deficiencies in authority, resources, or autonomy, and recommending improvements to enhance compliance capabilities.

We review your organization’s compliance framework, including policies, procedures, organizational structure, and governance arrangements, to understand the roles, responsibilities, and authorities assigned to compliance personnel.

We help you identify key stakeholders involved in compliance oversight, management, and decision-making, including senior management, board of directors, audit committee, legal department, risk management, and internal audit.

We conduct interviews and surveys with compliance personnel, senior management, and other stakeholders to gather insights into their perceptions of the authority, resources, and autonomy of the compliance function.

We ask specific questions about the clarity of compliance roles and responsibilities, access to resources, decision-making processes, level of independence, and support from senior leadership.

We evaluate the level of support and commitment from senior management and the board of directors towards the compliance function, including their endorsement of compliance objectives, allocation of resources, and recognition of the importance of compliance in achieving business goals.

We review the compliance budget and resource allocation to assess whether adequate funding, staff, technology, and other resources are provided to support compliance activities, initiatives, and programs.

We evaluate the adequacy of resources in relation to the complexity of regulatory requirements, organizational size, geographic footprint, and business operations.

We evaluate the reporting lines and organizational placement of the compliance function within the company’s hierarchy to assess its independence, visibility, and influence.

We consider whether compliance personnel have direct access to senior management and the board of directors, and whether they are empowered to escalate compliance issues or concerns as needed.

We assess the availability of training, professional development, and career advancement opportunities for compliance personnel to enhance their skills, knowledge, and expertise in compliance management.

We evaluate whether compliance personnel have access to relevant training resources, certifications, conferences, and networking opportunities to stay current with emerging trends and best practices in compliance.

We analyze the level of autonomy granted to compliance personnel in decision-making processes related to compliance risks, policy development, investigations, remediation actions, and recommendations for improvements.

We consider whether compliance personnel have the authority to challenge business decisions, escalate compliance concerns, and implement changes to enhance compliance effectiveness without undue influence or interference.

We document the findings of the assessment, including strengths, weaknesses, opportunities, and threats related to compliance personnel’s authority, resources, and autonomy.

We develop recommendations and action plans to address identified gaps or deficiencies, enhance compliance capabilities, and strengthen the effectiveness of the compliance function.

We assist you to communicate the assessment findings and recommendations to senior management, the board of directors, and other relevant stakeholders.

We help you collaborate with stakeholders to implement changes, allocate additional resources, revise policies or procedures, and address any barriers or challenges identified during the assessment process.

We can assist you to monitor the implementation of recommended changes and track progress towards enhancing compliance personnel’s authority, resources, and autonomy.

We can help you conduct regular reviews and evaluations to assess the impact of improvements on compliance effectiveness, organizational culture, and overall risk management.