Apac
  • Home
  • CXO Insights
  • CIO Views
  • News
  • Conferences
  • Newsletter
  • Whitepapers
  • About us
Apac
  • Admired Tech

    Agile

    AI Healthcare

    Artificial Intelligence

    Augmented Reality

    Aviation

    Big Data

    Blockchain

    Cloud

    Cryptocurrency

    Cyber Security

    DevOps

    Digital Transformation

    Drone

    HPC

    Infrared

    Internet of Things

    IT Services

    Marine Tech

    Networking

    PropTech

    Remote Work

    Robotics

    Scheduling Software

    Sensor Tech

    Simulation

    Smart City

    Software Testing

    Startup

    Storage

    Unified Communication

    Web Development

    Wireless

  • Automotive

    Banking

    Capital Market

    Construction

    E-Commerce

    Education

    FinTech

    Food and Beverages

    Gov and Public

    Healthcare

    Insurance

    Legal

    Logistics

    Manufacturing

    Media and Entertainment

    Metals and Mining

    Pharma and Life Science

    Retail

    Sports

    Travel and Hospitality

  • CISCO

    Google

    IBM

    Microsoft

    Oracle

    Salesforce

    SAP

    ServiceNow

  • Business Intelligence

    CEM

    Cloud-based Planning

    Cognitive

    Collaboration

    Compliance

    Contact Center

    Contact Tracing

    Contactless Payments

    Corporate Finance

    CRM

    Custom Software Development

    Data Center

    Digital Signage

    Enterprise Architecture

    Enterprise Asset Management

    Enterprise Communications

    Enterprise Contract Management

    Enterprise Performance Management

    ERP

    Facility Management

    Field Service

    Fleet Management

    Gamification

    HR Technology

    IT Infrastructure

    IT Service Management

    Managed Services

    PLM

    Procurement

    Product Management

    Project Management

    RegTech

    Revenue Management

    Sales Tech

Menu
    • Compliance
    • CISCO
    • Collaboration
    • Contact Center
    • Healthcare
    • IT Service Management
    • Microsoft
    • Retail
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • Compliance
    Editor's Pick (1 - 4 of 8)
    left
    Welcoming Big Data Technology amidst Changes

    Darren Cockrel, CIO, Coyote Logistics

    Leveraging Compliance to Your Advantage

    Mark Bloom, Global CIO, Aegon

    Demystifying the Role of IT in Millennial Organizations

    Jeff Fithian, VP, Strategic Initiatives and CIO, Dynamic Materials Corporation

    Productivity and Security- Can you ever have both?

    Julie Cullivan, SVP, Business Operations & CIO, Fireeye

    Lessons Learned from a CIO

    John Miller, Vice President and CIO, American Textile Company

    Digital Transformation: Prerequisites for Success in the Insurance Industry

    Nicole Kellenberger, Global Eadmin Lead, Swiss RE and Sven Scandella, Head of ITP&C Business Management, Swiss RE

    Compliance in the Cloud

    Vasyl Nair, Chief Risk Officer, Mine Super & Louis Leung, Executive General Manager Group Risk and Compliance, Mine Super

    Lessons Learnt on Compliance and Culture Change

    Paula Cristina Spirandio, Compliance Manager, Gunvor Group

    right

    "Company Culture" & "Compliance": Revised DOJ Guidance

    By Vinayak Bindal, Sub-Regional Compliance Officer, Sea, Merck

    Tweet
    content-image

    Vinayak Bindal, Sub-Regional Compliance Officer, Sea, Merck

    The US Department of Justice (DOJ) published revised guidance on April 30, 2019 discussing various factors prosecutors should take into consideration while evaluating effectiveness of the compliance program of a company under investigation.

    The revised guidance gives greater importance to “Company Culture” in measuring the effectiveness of compliance programs. Guidelines state that “prosecutors should also assess whether the company has established policies and procedures that incorporate the culture of compliance into its day-to-day operations.”

    Its clear that its no longer sufficient to have a code of conduct, policies and procedures or a hotline. The focus is now on how effectively compliance program has been integrated into day to day business operations. To do so, the organization should set the right compliance “tone at the top”, make sure it percolates from top to bottom, reaching every single employee.

    The alignment between what the top management does, and company’s core values is important for an effective compliance program. Effective compliance programs are “value driven” and not just “rules driven”.

    So how does an organization integrate compliance culture in its day to day business operations? Here are some thoughts:

    1. Make the compliance program “Values drive” not “Rules driven”: Employees working in companies with strong culture, feel less pressurized to resort to unethical practices to achieve organizational targets. Employee relate more to the values of the company which in turn leads to fewer instances of misconduct and greater commitment to compliance. Company should include ethics and integrity in core values.
    2. Conduct at the top and commitment by leadership: As per the DOJ guidance “The effectiveness of a compliance program requires a high-level commitment by company leadership to implement a culture of compliance from the top”. It’s not only important to have clearly defined policies, but senior management should communicate ethical expectations clearly within the organization and also lead by example. Middle management also has in important role to pass these ethical standards to their teams. This is because employees are influenced by their supervisor’s behavior.

    3. Autonomy and resources: Senior leadership should demonstrate commitment towards imbibing ethical behaviors in the organization by providing appropriate stature, authority and resources to the compliance function. Compliance function should be independent and not directly report to business. Based on the risk assessment, Compliance function should be adequately staffed and funded. Compliance Officer should be included in the Leadership Team.

    4. Foster “Speak-Up” culture: Encouraging employees to raise compliance issues without the fear of retaliation is a sign of strong culture. Company should provide anonymous reporting mechanisms to employee and should investigate complaints received from employees in an impartial manner. Further, efforts should be made to solicit feedback from employees on the efficacy and relevance of the compliance program to identify improvement areas.

    5. Measure “Culture” - As per DOJ guidance “How often and how does the company measure its culture of compliance? Does the company seek input from all levels of employees to determine whether they perceive senior and middle management’s commitment to compliance? What steps has the company taken in response to its measurement of the compliance culture?”

    The company can conduct employee surveys and cultural assessments. These tools may not provide complete insight into the functioning of the compliance program or its effectiveness. However, they do demonstrate management’s intent and priorities. Some of the metrics of good behavior can also be built it performance evaluation. In some organizations, compliance objectives have been added as significant metric for bonus, rewards and even career advancement. Survey can also provide insights into employee perceptions of actual employee conduct versus expected conduct.

    Compliance function is now considered as “strategic business partner” and adds “value” by protecting company against business risks. Companies with strong culture of ethics tend to have better business performance than companies without it. Organization stakeholders like employees, customers and shareholders seek greater transparency and accountability from management.

    Company culture is reflective of the values of the company and how these values have been inculcated. Company should incentivize compliant behavior and have disciplinary action for non-compliance. Ethical culture is key to successful and sustainable business.

    As rightly articulated by Ms. Indra Nooyi, former CEO of PepsiCo “You cannot deliver value unless you anchor the company’s value. Value make an unsinkable ship. Code of conduct goes beyond legal compliance and every employee needs to be well versed with it.”

    Weekly Brief

    loading

    Featured Vendor

    • ACTICO: Leveraging AI for Compliance Management
      ACTICO: Leveraging AI for Compliance Management
    Top 10 Compliance Solution Companies - 2020
    ON THE DECK

    Content Management System 2020

    Top Vendors

    Contactless Payments 2020

    Top Vendors

    Admired Tech 2020

    Top Vendors

    Corporate Finance 2020

    Top Vendors

    AI 2020

    Top Vendors

    Travel and Hospitality 2020

    Top Vendors

    Startup 2020

    Top Vendors

    Networking 2020

    Top Vendors

    FinTech 2020

    Top Vendors

    CRM 2020

    Top Vendors

    Scheduling Software 2020

    Top Vendors

    Education 2020

    Top Vendors

    Business Intelligence 2020

    Top Vendors

    PropTech 2020

    Top Vendors

    Salesforce 2020

    Top Vendors

    Big Data 2020

    Top Vendors

    Simulation 2020

    Top Vendors

    Product Management 2020

    Top Vendors

    Legal 2020

    Top Vendors

    Remote Work 2020

    Top Vendors

    Cryptocurrency 2020

    Top Vendors

    CEM 2020

    Top Vendors

    Insurance 2020

    Top Vendors

    Data Center 2020

    Top Vendors

    Banking 2020

    Top Vendors

    RegTech 2020

    Top Vendors

    Wireless 2020

    Top Vendors

    Procurement 2020

    Top Vendors

    Cognitive 2020

    Top Vendors

    Drone 2020

    Top Vendors

    HR Technology 2020

    Top Vendors

    HPC 2020

    Top Vendors

    Pharma and Life Science 2020

    Top Vendors

    SAP 2020

    Top Vendors

    Food and Beverages 2020

    Top Vendors

    Cloud 2020

    Top Vendors

    Blockchain 2020

    Top Vendors

    Cloud 2020

    Top Vendors

    Logistics 2020

    Top Vendors

    Augmented Reality 2020

    Top Vendors

    Contact Center 2020

    Top Vendors

    Oracle 2020

    Top Vendors

    Cyber Security 2020

    Top Vendors

    E-Commerce 2020

    Top Vendors

    Compliance 2020

    Top Vendors

    Enterprise Architecture 2020

    Top Vendors

    Digital Transformation 2020

    Top Vendors

    Manufacturing 2020

    Top Vendors

    Agile 2020

    Top Vendors

    CISCO 2020

    Top Vendors

    Field Service 2020

    Top Vendors

    Contact Center 2020

    Top Vendors

    IoT 2020

    Top Vendors

    Microsoft 2020

    Top Vendors

    Retail 2020

    Top Vendors

    Aviation 2020

    Top Vendors

    Healthcare 2020

    Top Vendors

    IT Service Management 2020

    Top Vendors

    Top Vendors

    Big Data 2019

    Top Vendors

    Digital Signage 2019

    Top Vendors

    Sales Tech 2019

    Top Vendors

    Startup 2019

    Top Vendors

    Salesforce 2019

    Top Vendors

    AI 2019

    Top Vendors

    Google 2019

    Top Vendors

    Smart City 2019

    Top Vendors

    FinTech 2019

    Top Vendors

    Admired Tech 2019

    Top Vendors

    Big Data 2019

    Top Vendors

    IT Services 2019

    Top Vendors

    Business Intelligence 2019

    Top Vendors

    Education 2019

    Top Vendors

    Project Management 2019

    Top Vendors

    Enterprise Asset Management 2019

    Top Vendors

    CRM 2019

    Top Vendors

    Data Center 2019

    Top Vendors

    PropTech 2019

    Top Vendors

    Capital Market 2019

    Top Vendors

    Travel and Hospitality 2019

    Top Vendors

    Legal 2019

    Top Vendors

    IT Infrastructure 2019

    Top Vendors

    Plastic Tech 2019

    Top Vendors

    Facility Management 2019

    Top Vendors

    Fleet Management 2019

    Top Vendors

    CEM 2019

    Top Vendors

    Sensor Tech 2019

    Top Vendors

    RegTech 2019

    Top Vendors

    Marine Tech 2019

    Top Vendors

    Collaboration 2019

    Top Vendors

    Software Testing 2019

    Top Vendors

    Facility Management 2019

    Top Vendors

    Automotive 2019

    Top Vendors

    Food and Beverages 2019

    Top Vendors

    Insurance 2019

    Top Vendors

    HPC 2019

    Top Vendors

    Wireless 2019

    Top Vendors

    Simulation 2019

    Top Vendors

    Corporate Finance 2019

    Top Vendors

    Drone 2019

    Top Vendors

    AI Healthcare 2019

    Top Vendors

    SAP 2019

    Top Vendors

    Procurement 2019

    Top Vendors

    Cyber Security 2019

    Top Vendors

    IBM 2019

    Top Vendors

    Construction 2019

    Top Vendors

    Logistics 2019

    Top Vendors

    Managed Services 2019

    Top Vendors

    Manufacturing 2019

    Top Vendors

    Media and Entertainment 2019

    Top Vendors

    Cloud 2019

    Top Vendors

    Banking 2019

    Top Vendors

    Agile 2019

    Top Vendors

    IT Service Management 2019

    Top Vendors

    Retail 2019

    Top Vendors

    HR Technology 2019

    Top Vendors

    Oracle 2019

    Top Vendors

    Cognitive 2019

    Top Vendors

    Compliance 2019

    Top Vendors

    Contact Center 2019

    Top Vendors

    Healthcare 2019

    Top Vendors

    Gov and Public 2019

    Top Vendors

    Microsoft 2019

    Top Vendors

    Pharma and Life Science 2019

    Top Vendors

    DevOps 2019

    Top Vendors

    E-Commerce 2019

    Top Vendors

    Blockchain 2019

    Top Vendors

    IoT 2019

    Top Vendors

    Metals and Mining 2019

    Top Vendors

    Gamification 2019

    Top Vendors

    Field Service 2019

    Top Vendors

    Augmented Reality 2019

    Top Vendors

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Pinpointing Weak Links in an Enterprise Security Chain: Helping Companies Battle Data and Content Security Challenges

    Pinpointing Weak Links in an Enterprise Security Chain: Helping Companies Battle Data and Content Security Challenges

    Hiro Imamura, SVP and GM, Business Imaging Solutions Group, Canon U.S.A. [NYSE:CAJ]
    Evolving Customer Relationship Management: Move Fast or Die Trying

    Evolving Customer Relationship Management: Move Fast or Die Trying

    Ed Ariel, Vice President of Service Operations, ezCater
    Importance of Customer Relationship Management Implementation

    Importance of Customer Relationship Management Implementation

    Drew Fredrick, Vice President, Home Building Technology, Clayton Homes
    How enterprise tech startups and corporates can collaborate for innovation

    How enterprise tech startups and corporates can collaborate for innovation

    Paul Santos, Managing Partner, Wavemaker Partners
    How an Initiative for Standardization and Modularization Leads to Cost Reduction, Increased Efficiency-and Better Teamwork

    How an Initiative for Standardization and Modularization Leads to Cost Reduction, Increased Efficiency-and Better Teamwork

    Faruk Bilgin, Global Director Manufacturing Engineering of Webasto Group
    Empowering the Retail Paradigm

    Empowering the Retail Paradigm

    Jason Williams, VP of Engineering, DICK’S Sporting Goods
    Fortifying the Retail Pardigm Amidst Uncertainities

    Fortifying the Retail Pardigm Amidst Uncertainities

    Vlad Yakubson, Head of Retail, yd.
    Journey from Intelligent Automation (IA) to Artificial Intelligence (AI)

    Journey from Intelligent Automation (IA) to Artificial Intelligence (AI)

    Sanjay Choubey, VP-IT, Briggs & Stratton
    Loading...

    Copyright © 2021 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy  |  Sitemap |  Subscribe

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://compliance.apacciooutlook.com/cxoinsights/-company-culture--compliance-revised-doj-guidance-nwid-7490.html