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Post By: Adam Turteltaub
Everyone in compliance wants to have a mature program. But, how do you know if your program is truly mature?
Germany-based Torsten Wolf, Director Forensics at Control Risks, argues in this podcast that a compliance program can be considered mature when it is fully integrated in the daily business model and operations. Only when the key stakeholders consider compliance as integral to the business can it be considered fully developed and a part of the organization’s DNA.
One key hallmark, and perhaps the most critical, is how leadership responds when there is an incident that needs to be remediated.
But that’s not the only measure. It’s important to assess the culture across the organization and continuously. This can be done both formally and informally by talking to people to see how the compliance program is perceived and understood. Do people see compliance as integral to the daily business for them, or just for senior management?
Listen in to learn more about what to look for, and how to interpret the data you collect when determining the maturity of your compliance program.