Trojan CorporateTrojan Corporate

By Narelle Davidson

Mistake #3 – The compliance management system doesn’t demonstrate compliance

How to demonstrate compliance response ability?

The compliance management system must allow the business to respond to what needs to be done.  An unresponsive system, leaves room for error and important items to be overlooked.

There is a risk of compliance obligations slipping through the cracks and falling to the bottom of the pile. Paper based models are antiquated and ineffective.  Paperwork bogs business down making for an ineffective system.

The compliance management system should allow the business to respond to events and tasks due.  Compliance should be demonstrated by corrective actions taken within reasonably efficient time frames.   Does your compliance management system demonstrate compliance? Does it:

  • Send automated alerts and workflows?
  • Provide task status updates?
  • Send reminders for incomplete tasks?

Compliance management systems collect information.  This information should be easily extracted into reports for the team, management, or Board.

Being able to respond to a question of status regarding an incident, policy review or even a customer complaint will demonstrate compliance.  A responsive system provides:

  • Informed decision making.
  • Improved performance management of team members.
  • An assessment of business strategy.

Solution:

To alleviate compliance burden, consider how technology is being used within other areas of the business. Can it be extended to the compliance management system? The answer is yes!! Talk to the IT department and get some tech savvy advice on what options are available and will best fit with existing systems.  Simplifying compliance will allow for greater time to be spent profitably.

About narelle-davidson
Narelle Davidson has been involved in the hospitality industry for 20 years and has experience working with clubs and hotels in New South Wales & Queensland. Narelle has progressed through varying roles from front line customer service, gaming promotion co-ordination, self-employment, hotel management, training, consulting and compliance. In most recent years, Narelle has focussed on compliance programs and solutions for hospitality venues. With practical understanding of both NSW & Queensland legislative requirements Narelle is able to rationalise and provide the expertise required to facilitate effective regulatory and operational compliance frameworks. Narelle is a current member of the Governance, Risk and Compliance Institute (GRCI).