Initiatecomplianceoversight

 From reactive compliance to proactive commitment compliance for meeting legal, regulatory, corporate requirements is a strategic transition to improve organizational maturity.

Modern corporate boards play significant roles in guiding businesses in the right direction and achieve expected business results. Due to the “VUCA” characteristics -Complexity, Uncertainty, Ambiguity, and Velocity of the Digital Era, the directorship in any organization must have the agility to adapt to changes and build abilities to advise, inspire and motivate a group of people toward accomplishing shared visions and goals.

  Compliance Oversight

Initiatebodcomplianceoverview Compliance is the management discipline of designing and implementing effective steps to ensure that the organization actually complies with the laws and regulations relating to its operations. Ensuring and overseeing compliance is an essential part of the board's role, a good corporate reputation to be seen as a good corporate citizen is one of the biggest assets of a company and most definitely a value creator.

Innovatecompliance In the digital age, with overwhelming growth of information and fast pace of changes, the knowledge life cycle is significantly shortened. The digital workforce today has to practice real critical thinking, learn and relearn all the time, and then apply those lessons to succeed in new situations.

Innerconnectivityinrisklawcompliance With “VUCA” digital new normal, risk, compliance management should be a crucial component of the digital transformation approach. Do things better, faster and smarter. Risk is the unwanted subset of uncertain outcomes; compliance means conforming to a rule, such as a specification, policy, standard or law.

A Board Beyond Compliance Corporate governance is the system by which business corporations are directed and controlled. Compliance is the management discipline of designing and implementing effective steps to ensure that the company actually complies with the laws and regulations relating to its operations. There is a strong compliance element to corporate governance but corporate governance is about practice as well as policies. As one of the most important governance bodies, how can the Corporate Board go beyond compliance?

Proactive Compliance Much of compliance management is reactive in the sense that there is a lot of rushing around trying to fix problems after they have occurred. The Question for the compliance experts is what can be proactively done to pinpoint potential problems before they occur? This becomes then a Question of keeping track of activities and of changing regulations. Is there a better way to manage compliance proactively?

The “Future of CIO” Blog has reached 7 million page views with 9500+ blog postings in 59+ different categories of leadership, management, strategy, digitalization, change/talent, etc. The content richness is not for its own sake, but to convey the vision and share the wisdom. Blogging is not about writing, but about thinking; it’s not just about WHAT to say, but about WHY to say, and HOW to say it. It reflects the color and shade of your thought patterns, and it indicates the peaks and curves of your thinking waves. Unlike pure entertainment, quality and professional content takes time for digesting, contemplation and engaging, and therefore, it takes time to attract the "hungry minds" and the "deep souls." It’s the journey to amplify your voice, deepen your digital footprints, and match your way for human progression.

Posted in: Board Room,GRC,Sum UP,Systems Wisdom