News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jaclyn Jaeger2013-02-26T00:00:00
Exception requests are often a thorn in the side of policy managers, and yet they are unavoidable for most.
An effective policy management process can ease the pain, which includes putting in place a “policy on policies” that describes a corporate policy, what it should include, and how policies get approved, reviewed, and trained upon, says Paul Liebman, a former in-house compliance and ethics attorney now in private consulting. Companies that manage policies well have a centralized policy management process and don’t issue policy exceptions lightly, he adds.
At many companies, however, policies, procedures, and directives are generated in a decentralized way within a company’s various business units, or facilities. “Figuring out what a policy is—and what an exception to a policy is—is difficult, because companies don’t have a lot of control over that process to begin with,” says Liebman.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2013-03-12T00:00:00Z By Jaclyn Jaeger
Ask any company how many policies it has and where they are located—from the corporate level down to the functional level—and chances are you won't get a straight answer.A typical company will have some policies controlled by corporate headquarters, sure; but most tend to be created and managed independently by ...
2024-07-03T18:17:00Z By Ruth Prickett
Dominic Buckwell, general counsel and compliance head at global marine container leasing company Seaco, discussed key themes including anti-money laundering, sanctions, and why the industry needs common environmental reporting standards.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
Site powered by Webvision Cloud