Trojan CorporateTrojan Corporate

By Narelle Davidson

Mistake #4 – Failing to test compliance performance

Failing to test compliance systems is a recipe for malfunction.  We must monitor, evaluate and review our compliance management system.

We take the time to set smart business goals.  It is critical to monitor and measure these regularly.  We must test compliance and make assessment to ensure sufficient resources are allocated.  The performance of the system should be reviewed regularly, along with those who use it.

The compliance program must be documented, communicated, implemented, monitored and measured. The compliance management system should demonstrate performance of the compliance program.

A major incident, or compliance failure is not the ideal way to find out that there is a problem with your compliance management system.  Test compliance to prevent a systemic failure.

Solution:

Ensure that your compliance management system is regularly monitored, evaluated and reviewed.  Test the system. Does it pass or fail?

Work out your points of vulnerability.

Put a plan in place to address the non-compliances or weaknesses in your system.  This will ensure informed, considered and effective results.  Achieving business goals becomes possible.

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).