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Moving from operationalized compliance to connected compliance

Tom Fox | April 24, 2018

One overriding theme from the Justice Department’s “Evaluation of Corporate Compliance Programs” is that a corporate compliance program must be operationalized. That’s a key factor, writes Tom Fox, but it must also operate with “connected compliance,” the connectivity of compliance throughout an organization.

Connected compliance provides an important mechanism for companies to consider in operationalizing the compliance program. While compliance is obviously a business process, it should also be seen as a continuous process. In that sense, the data from a wide variety of sources should be used to track the types of risk that compliance professionals must manage.

A good start is for management to examine and track third parties. Continuous monitoring of third-party watchlists might seem in this day and age a bit pedestrian, yet many companies do not understand the need for having knowledge of who they are doing business with once the...

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