Although compliance with criminal regulations is one of the functions carried out by compliance management, it is not the only one. Keep in mind that criminal compliance is only one of the parties associated with this figure, but it should be noted that its function goes beyond. The objective of compliance management figure is that an organization fulfils all its obligations, in short, it is an effective management system for companies. But for this to be so, it is necessary that a culture or business ethic of compliance be introduced, without which this mechanism would be meaningless.
To establish such a culture, companies have a mechanism such as Compliance management that allows the effective management of their objectives, being able to reach them in a respectful way with the organization itself, with third parties and with society.
For this, it will be necessary to integrate it into all the management processes of the companies, through policies and procedures that allow its integration in all areas of the company, from finance, to risks, through quality, environment, health and safety, etc.
Having the safeguard of the company's Senior Management, you can overcome cultural, economic and labour conflicts, which are usually a turning point for the application of this figure.
Objective of Compliance Management
Its main purpose is to achieve the objectives that the company has established in a manner that respects the external and internal standards established by and for society. Regardless of the qualification or name that these norms or procedures receive, not everything is limited to the criminal sphere.
To achieve all this the most important work carried out by the compliance manager is to create a culture of compliance, usually through codes of conduct or ethical codes.
The Compliance function with respect to business ethics, is to establish a regulatory framework that incorporates the values that society must respect, according to socially accepted and valid criteria, such as Integrity, honesty, transparency and good faith, ensuring that it is carried out and establishing sanctions when ignored.
We could say that establishing a culture of compliance is the necessary starting point for a company, regardless of its size or activity, to fulfil its compliance duties.
It will be necessary to establish a close connection between the different areas of society and relations with third parties so that compliance is effective, there is no doubt. But it is from this culture of compliance, when all members of society and anyone who relates to it, accept the need to establish due diligence in the development of their activities to meet all the requirements that are applicable.
Compliance system in society
Understanding this system, which is not a trivial matter, the integration of a Compliance system into an organization will be easier, since all will act in accordance with this culture, reducing the risks to which the organization can be exposed.
Extending as ramifications to all aspects of organization that are the responsibility of the Compliance manager, making it possible for compliance to be a daily task within the different functions they carry out.
As a result, it will lead to the elaboration, adaptation and execution of an organization and management model that includes surveillance and control measures suitable to prevent crimes, as well as to prevent any type of non-compliance other than criminal and affects the company.
In summary, we could say that, a Compliance system is the precise gear for a company to act in accordance with the pre-established norms and criteria that apply to it in its different areas of action, taking into account any risk of non-compliance, facing it and overcoming it. All this with the goal of achieving the goals set by the company, ensuring its long-term continuity.
Lacking an appropriate and suitable compliance system, a company could carry out its functions in a correct way. But in the face of any type of conflict or problem, the safest thing is to drift in an ocean of risks, without knowing or finding a solution and routing it inexorably to the wreck.
In short, compliance management is an essential function in all types of organizations and using an automated compliance management solution helps ensure that the organization fulfills all of its legal and regulatory requirements.