As a compliance professional with over 25 years of experience, I've seen various methods for assessing corporate integrity. Recently, I've been impressed by the Corethix Integrity Risk Index (IRI), which offers a comprehensive and data-driven approach to this critical issue. Here's how the IRI aligns with key areas of integrity assessment: 1. Corporate Values & Culture: The IRI provides a high-level overview of key configuration elements and employee engagement, offering insights into how well ethics are embedded in an organisation. 2. Leadership & Governance: With executive dashboards, the IRI gives leadership a clear view of the company's integrity performance, supporting better governance. 3. Policies & Practices: The IRI tracks policy attestation rates across various integrity categories, ensuring key practices are understood and followed. 4. Communication & Training: The system includes a video library module, supporting ongoing ethics education. 5. Reporting & Accountability: A “Speak Up/Whistleblowing” feature is integrated into the IRI, facilitating ethical reporting. 6. Measurement & Monitoring: The IRI offers real-time dashboards and trend analysis, allowing for continuous monitoring of ethical performance. 7. External Reputation: By providing tangible evidence of compliance, the IRI helps organisations meet stakeholder expectations and safeguard their reputation. 8. Integrity in Practice: The IRI's suggestions for improvement feature help organisations identify and address gaps between stated values and actual behaviours. The Corethix IRI represents a significant advancement in how we can quantify and improve corporate integrity. It's not just about having policies in place, but about actively managing and improving ethical performance across the organisation. What are your thoughts on using such data-driven approaches to measure and enhance corporate integrity? Let's discuss in the comments or reach out to us! #CorporateIntegrity #BusinessEthics #ComplianceMatters #IntegrityRiskIndex Corethix Cyclopedic Consulting
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I have long believed that ethics and corporate culture are critical components of an effective compliance program, especially when dealing with unknowns. In reality, these drivers have less of an impact on addressing uncertainty about how to be compliant, according to a survey by Gartner, Inc. The Gartner survey, conducted in December 2023 among 1,012 employees, paints a concerning picture. Compliance uncertainty remains a prevalent issue despite the focus on building an ethical culture. This uncertainty often leads to non-compliance, a situation faced by most survey participants (a whopping 87% of respondents in the past 12 months). The survey reveals three primary situations that lead to non-compliance: 👉Situations of uncertainty (not understanding how to comply), 👉Rationalization (thinking that non-compliance is not wrong in a particular context), and 👉Malice (not complying despite knowing it is wrong). #corporateculture, #complianceprogram, #ethicscompliance Make sure you take a look at this survey: https://lnkd.in/eZRTjvcW
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What's critical to the success of any organization? ethics, compliance, and risk management. As someone who's navigated complex, contractual, legal, and regulatory frameworks and ensured adherence to employment, IT and financial principles, diversity, and inclusion, I know firsthand the importance of ethical guidance when it comes to dealing with stakeholders. But here's the thing: Ethics and compliance are more than just words on a mission statement. They're living, breathing concepts that need to be integrated into the daily fabric of an organization - from the highest levels of leadership down to the front-line employees. Why? Because they help protect your organization from risks that can often have damaging consequences, and they foster a culture of transparency, accountability, integrity and trust. Here are the key ways organizations can embed ethics and compliance in their operations: 1. Build a culture of accountability, transparency, and integrity from the top down and from the bottom up. 2. Invest in training and resources to educate employees. 3. Integrate ethical considerations into decision-making processes. 4. Enhance auditing and compliance structures and processes from an independent and external agent. As professionals, it's is key to uphold the highest ethical standards and steer our organizations towards long-term success. So let's work together to foster a culture of integrity, transparency, compliance, and trust. #trust #ethics #compliance #integrity #longtermsuccess @ludci
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Reputational Risk: A Growing Concern for Organizations in the Age of Transparency In today’s digital age, where the public has unprecedented access to information, reputational risk has become one of the most significant threats to organizations. With just a few clicks, stakeholders can learn about your employees, partners, and their behavior, often before internal teams are fully aware of the situation. This new reality raises important questions about how we manage compliance and ethics within our organizations. As compliance professionals, we must take a proactive thought leadership approach: 💡 Public Access = Greater Accountability: The behavior of employees, vendors, and business partners that violates a company’s code of conduct or ethics policy can quickly become a public issue, severely damaging the organization's reputation. It’s critical to factor in reputational impact when considering the consequences of unethical behavior. 💡 Comprehensive Monitoring & Discipline: Does your organization have effective mechanisms for monitoring employee behavior in line with your ethics policies? What about disciplinary actions—are they consistent and fair across the board? Thought should go into whether current practices adequately protect your company from reputational harm. 💡 Conflict in Policies: Are there conflicting policies that may leave room for non-compliance or unethical behavior? An organization’s policies should be clear, cohesive, and directly address behaviors that can impact reputation. Regularly reviewing and aligning policies to ensure they don’t contradict each other is critical for both compliance and culture. 💡 Internal & External Alignment: Your internal culture and external partnerships should reflect your organization’s commitment to ethical conduct. Does your organization take a firm stance on the ethical behavior of third parties, such as suppliers or partners? What about employees’ off-duty behavior? In a world where information travels fast, it’s not enough to merely have a compliance program—we need a culture of accountability that emphasizes the connection between ethics, behavior, and the company’s reputation. By taking these steps, we can mitigate the risks of reputational damage and maintain the trust of our customers, employees, and stakeholders. #ReputationRisk #Compliance #Ethics #CorporateGovernance #RiskManagement #Leadership #Transparency #CorporateCulture #PublicAccountability #EthicalLeadership
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Empathy is a crucial but often overlooked trait in the ever-changing world of compliance. Rules and regulations are vital for ethical business conduct, but working closely with the business as a trusted partner involves more than just enforcing rules. It's also about understanding and connecting with people at all levels of the organization, building trust, nurturing ethical behavior, and strengthening organizational resilience. There are numerous reasons why compliance officers should develop empathy as a soft skill and strategic asset. However, I want to highlight the importance of building trust, as it forms the foundation of compliance. Demonstrating empathy shows our commitment to understanding the perspectives of our colleagues, stakeholders, and clients, helping to build strong, trusting relationships essential for effective compliance. Building trust is a complex and time-consuming process, so patience is critical. Upholding ethical standards is non-negotiable in compliance, and at times, compliance officers may need to be firm with the business and its leaders. An empathetic approach enables leaders to navigate ethical dilemmas by assessing the impact of decisions on individuals and the broader community. Additionally, in today's global landscape, compliance requires an empathetic understanding of cultural differences and the adaptation of policies to promote a culture of compliance that respects diversity and inclusion. Recognizing the human aspect of compliance is an essential tool for identifying potential risks. Empathizing with stakeholders helps address issues proactively before they become compliance risks. Let's make empathy the cornerstone of our compliance practice. By understanding and valuing others' experiences and perspectives, we can truly integrate empathy into our compliance strategy. I invite you to share your thoughts on this in the comments below. Let's keep the conversation going and continue to promote empathy as a catalyst for ethical leadership in compliance!
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Core Pillars of Effective GRC: Adaptability, Robustness, Ethics, and Responsibility In today’s fast-paced business world, Governance, Risk, and Compliance (GRC) strategies are essential for maintaining organizational health and sustainability. However, the true strength of any GRC framework lies in the foundational pillars it is built on. Here’s a look at the four critical pillars that drive impactful GRC initiatives: 1️⃣ Adaptability: In a world of constant regulatory changes and market disruptions, agility is key. Organizations must be flexible enough to quickly adapt to new risks and regulations, ensuring they remain compliant while staying ahead of potential challenges. 2️⃣ Robustness: It’s not enough to be reactive; companies must build resilience into their DNA. This means preparing for potential disruptions and having robust systems in place to manage and mitigate risks effectively, ensuring operational continuity. 3️⃣ Ethics: At the core of GRC lies integrity. Upholding ethical practices across all operations not only protects a company's reputation but fosters trust with stakeholders, employees, and customers. Ethical decision-making leads to sustainable, long-term success. 4️⃣ Responsibility: True accountability means holding everyone in the organization responsible for their actions, from leadership to individual contributors. A culture of accountability strengthens governance practices and ensures transparency at all levels. Building a GRC framework that embodies these pillars empowers organizations to stay compliant, mitigate risks, and lead with purpose. #grc #governance #riskmanagement #compliance #businesscontinuity #leadership #accountability #risk
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🚀 Harnessing Engagement in Compliance Training: Unlocking Potential for Ethical Excellence 🚀 Compliance training is the backbone of ethical integrity within any organization, impacting both individuals and the broader business landscape. However, the prevailing perception of such training as tedious or irrelevant poses a significant challenge. Disengaged employees not only diminish the effectiveness of training but also heighten the risk of unethical or non-compliant behaviors. As compliance and ethics professionals, we must delve into the roots of disengagement and cultivate strategies that invigorate learning experiences. Understanding the factors contributing to lackluster training is pivotal in reshaping perceptions and fostering a culture of compliance. By infusing creativity, interactivity, and relevance into our training programs, we can ignite interest, drive engagement, and inspire meaningful change. Let's collaborate to transform compliance training from mundane to meaningful, empowering every individual to uphold ethical standards and drive organizational success. Together, we can pave the way for a culture of integrity and excellence. 💡 #ComplianceExcellence #EthicalLeadership #EngagedWorkforce #Training #Compliance #EthicsandCompliance #Microlearning Diligent / Diligent Compliance & Ethics
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🌟 The Importance of Compliance with Organizational Ethics and Behavior🌟 In today’s complex business landscape, being compliant with organizational rules and ethics is crucial for success. Adhering to these standards is not just a matter of following guidelines; it’s about fostering a culture of accountability and integrity. 1. Ensuring Accountability: Compliance helps us hold ourselves and each other accountable, reinforcing our commitment to ethical behavior. 2. Mitigating Risks: By following established policies, we reduce the risk of legal issues and reputational damage, ensuring a safer workplace for everyone. 3. Promoting Transparency: Compliance encourages open communication and transparency, which are essential for building trust among team members and stakeholders. 4. Enhancing Decision-Making: A clear understanding of ethical guidelines helps us make informed decisions, especially in challenging situations. Let’s commit to upholding these principles in our daily actions, creating an environment where ethics and compliance drive our success! #Compliance #OrganizationalEthics #Accountability #Integrity #BusinessConduct #WorkplaceCulture #RiskManagement #Transparency
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“We, the unwilling, led by the unknowing, are doing the impossible for the ungrateful. We have done so much, for so long, with so little, we are now qualified to do anything with nothing.” This could have been written by a compliance manager!😊 Building an #ethics and #compliance program from scratch can be daunting, especially when balancing regulatory requirements with organisational expectations. While it’s tempting to dive into complex frameworks and extensive tools, starting with simplicity in mind and focusing on small, strategic successes can help build the necessary momentum for long-term success. These early milestones are small, achievable goals that offer tangible results. They’re particularly effective in the initial stages of developing an ethics and compliance program for a couple of reasons: ✅ Ethics and compliance programs often face resistance, particularly when they require changes to existing behaviours or processes. Early successes help to demonstrate that the program can deliver real value quickly, turning doubters into supporters. ✅ For compliance and ethics initiatives to succeed, they require organisational buy-in. Demonstrating progress through visible, early achievements builds the program's credibility and earns trust from employees and leadership. The key to achieving these early wins lies in simplicity—focusing on high-impact, low-complexity initiatives that can be executed quickly while still yielding significant results. Simplicity is often overlooked when developing these programs, where there’s a tendency to emphasise complex policies and systems to manage regulations. However, the best way to build momentum is to start small and make use of available resources. Rather than investing in complex compliance software from the outset, begin with basic, readily available digital tools and simple reporting mechanisms. This approach helps to lay the foundation and gather valuable data early on. Compliance programs often overemphasise complex written policies, but influencing behaviour from the outset is just as important. For example, if an employee is about to sign off on a supplier contract, a system-generated notification could prompt, “Have you conducted a conflict-of-interest review?” This real-time reminder nudges employees to ensure that compliance considerations are part of their decision-making process. Celebrating these early achievements is essential for maintaining momentum. Once early milestones are reached, ensure that these successes are communicated widely throughout the organisation. Early achievements should be viewed as stepping stones toward the larger, more complex elements of the program. Use these early wins to showcase the value of the program and build the case for more extensive initiatives. #Generalcounsel #Inhousecounsel #legaltech
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5 lessons I've learned as a COMPLIANCE & ETHICS consultant ❌ Trying to control every compliance-related decision creates a barrier instead of fostering cooperation. ✅ Engaging teams across all departments helps create a culture where Compliance is everyone's responsibility. ❌ Simply issuing rules without explaining them leads to disengagement and poor adherence. ✅ Explaining the "why" behind compliance requirements builds understanding and encourages participation. ❌ Failing to adapt to new systems and tools can lead to inefficiencies and missed opportunities. ✅ Leveraging digital compliance tools helps streamline processes and improve accuracy. ❌ Relying on punishment to enforce Compliance doesn't build a genuine commitment to ethical practices. ✅ Continuous training and development of compliance knowledge create a foundation for sustainable, ethical behavior. ❌ Compliance isn't just about ticking boxes; it's about creating a culture of doing the right thing without needing to consciously think about it. ✅ Promoting ethical values goes beyond rules, helping build a culture of integrity and trust. P.S. What is your biggest lesson as Compliance Manager/Consultant? #compliance #compliancemanager #lessons
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Imagine a workplace where compliance is a shared value embraced by everyone. This is a reality for companies that prioritize a culture of integrity and transparency. How does fostering such a culture enhance compliance? A strong corporate culture rooted in integrity directly impacts compliance effectiveness. According to the Ethics & Compliance Initiative, organizations with robust ethical cultures experience 40% fewer compliance issues. When employees value honesty and openness, they adhere to regulations and report violations more readily. Take Patagonia, for example. Their commitment to environmental and social responsibility translates into rigorous adherence to environmental regulations and ethical labor practices, minimizing violations and enhancing their reputation. Microsoft also exemplifies this approach. By fostering a culture of trust and accountability, they have significantly improved compliance metrics, with transparent communication and a strong emphasis on ethical behavior at all levels. Companies like IBM have observed a 30% reduction in compliance breaches after promoting a culture of transparency and comprehensive ethics training. When employees understand and value compliance, the organization thrives. Follow @John Abidi for GRC insights & expertise! Boost your knowledge on Governance, Risk, & Compliance! #GRC #FollowForMore #ComplianceThroughCulture #CultureOfIntegrity #EthicsInAction #ComplianceAndCulture #IntegrityMatters #EthicalLeadership #ComplianceEnabledByCulture #RiskManagementThroughCulture #GovernanceWithIntegrity
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Great to have the Cyclopedic team join the global Corethix family of Governance, Risk and Compliance advocates supporting company Directors.