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Effective Compliance Training Program - Ways to Reduce Compl

A compliance training program is given at various levels to employees of an organization to train employees to abide by the rules and regulations as laid out by any competent authority.

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Effective Compliance Training Program - Ways to Reduce Compl

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  1. Effective Compliance Training Program - Ways to Reduce Compliance Risks

  2. A compliance training program relevant to employees at all levels in an organization

  3. Health and safety matters concern all employees

  4. Specific issues such as taxation or financial regulations

  5. The main objective of compliance training is to ensure that organizations abide by the norms set by regulatory bodies

  6. What is Compliance Risk?

  7. Compliance risk is associated with the violation of certain standard rules or procedures

  8. Caused by deviations from accepted processes

  9. Affects corporate image in the eyes of customers and stakeholders

  10. May result in reduced business opportunities or limited turnover

  11. Assessing Compliance Risk

  12. Monitor regularly for violation of standard procedures

  13. Steps involved in assessing a compliance risk

  14. Risk identification

  15. Risk measurement

  16. Risk prioritization

  17. Risk control

  18. Enterprise Wide Compliance Program

  19. Helps to bring all employees on the same platform with respect to compliance issues

  20. Understand how risks at one part of the business line might affect other parts of the business

  21. Tips for a Successful Compliance Training Program

  22. Compliance committee headed by a compliance officer

  23. Abide by a Standard procedure and policy

  24. Devise ways to develop and implement a successful and effective training programs for employees

  25. Effective communication between compliance committee members and employees

  26. An evaluation process to devise ways to monitor the progress of employees

  27. Investigation and disciplinary action

  28. Conclusion

  29. To ensure that organizations adhere to regulatory requirements and avoid being penalized with fines or other loses, they need to invest in compliance training programs.

  30. To read more such articles, Please visit blog.commlabindia.com

  31. Thank You

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