In Compliance, Big Salaries Come With Big Risks and Responsibilities

Compliance has become a huge industry, partly out of wanting to simply do good business, but mostly out of the necessity of complying with ever-increasing rules and regulations from governments and other regulatory agencies.
In response to the new demand, companies are now paying hefty salaries to compliance officers. As with all things, however, great rewards come only from great risks and responsibilities.
In this article we explain why Compliance Officers are earning higher salaries and why they are personally at risk for non-compliance.

FIFA, Corruption and Sports Governance

The world’s most popular sport is facing a crisis of confidence, and not without good reason. What started as an investigation by the United States Department of Justice into bribery concerning broadcast rights, has become a full scale investigation of FIFA as a whole.
Swiss authorities began looking into bribery charges concerning the 2018 and 2022 World Cup bidding process within hours of the broadcasting scandal, and at least 14 officials and marketers for FIFA have already been indicted for corruption.

Risk Management Doesn’t Mean Risk Aversion

There is a disconnect in today’s businesses that is causing significant losses in market value. That disconnect is shown in two ways. First, many companies equate risk management with risk aversion. That is, instead of actively monitoring and measuring the risk controls they put in place, they are simply setting the controls in place for maximum risk avoidance and then letting them ride.

Saying Goodbye to SSL and TSL

Winston Churchill once said “To improve is to change; to be perfect is to change often”. Some might argue that we’ve taken that idea to the extreme and decided to be a society under constant change, in which case we should listen to Mr. Churchill’s further thought, that “There is nothing wrong with change, if it is in the right direction”.
In the case of security and compliance, that constant progress is definitely a good thing. The more secure customer and company data can be kept, the better. Keeping products safe and in good shape along supply lines is also good.

3 Ways Retail Compliance Officers Can Reduce Potential Problems In Their Supply Chain

Your supply chain is a huge part of, and more often than not a necessity to, your business. Unfortunately, it can also be a huge liability for your business if your suppliers aren’t vetted properly and if you don’t ensure compliance throughout your supply chain.
Thorough vendor risk management, then, must be a vital component of your compliance strategy.
This article explains ways in which retail compliance officers can reduce potential problems in their supply chain.