Fairwords Weekly: Compliance Leader Insights, Regulatory Updates, and Investing in a Culture of Compliance
June 15, 2023
“The need to establish a robust compliance program, backed by a workplace culture that prioritizes de-risking and integrity, has become increasingly important for businesses today as policy and regulation continue to evolve.”
– Brad Wilson, Managing Partner & CEO, StoneTurn
This week, get insights from compliance leaders on how to navigate compliance challenges in the digital age. Learn how more companies voluntarily disclose possible corporate wrongdoing and how regulators continue to focus on cracking down on off-channel communications. Finally, consider why investing in a culture of compliance in an economic downturn is a good business decision.
Compliance leaders must stress their significance to management in a challenging economic climate with layoffs and heightened risk. Prioritizing compliance is vital for protecting businesses and the broader economy. The DOJ emphasizes policy-driven strategies to hold organizations accountable and urges business leaders to recognize compliance’s role in strengthening financial markets and national security. Compliance leaders should highlight the value of robust compliance programs that assess and mitigate risks, striking a balance with other leadership teams. Establishing a workplace compliance culture involves all employees, with top-down implementation of policies. The evolving role of compliance officers includes personal accountability and data-driven approaches. Compliance should be seen as a business driver, with leadership teams leveraging it for successful operations.