Internal communications when implementing Compliance

07 march, 2023

Effective communication within the company is critical to a common understanding of policies and procedures, as well as compliance and integrity among employees.

What factors must be taken into account for the implementation of effective internal communications?

1. Demonstration of a personal example by the top and middle management.

The company`s management should not only talk about the importance of zero tolerance for non-compliance with the company's policies but also demonstrate this approach in practice. Otherwise, employees will not properly treat their professional duty to comply with legislation and internal documents.

2.  Active work with employees and contractors

Even the most well-designed documents cannot work independently. To use them in daily activities, employees and contractors must know about these documents, understand them and be able to apply them in practice.

What should you pay attention to when working with employees and contractors?

1. Communication: employees or contractors have to be familiarized with internal documents upon hiring/beginning of cooperation, as well as in case of changes to these documents.

2. Education:

  • Regular (at least once a year);
  • Conducted by specialists (a compliance officer, other employees of the compliance department or consultant involved "from outside");
  • Conducted for all employees and for key counterparties;
  • The results of training are checked.

3. Clarification: if an employee or counterparty has a question about the correct behaviour in a particular situation, he or she should be able to address such a question to the compliance department and receive a clear and understandable answer.

Which of the following have you implemented in your company?

Detailed instructions for business "Basic principles of risk identification and their minimization" at the link: