Develops, initiates, maintains, and revises policies and procedures for the general operation of the company and its related activities to prevent illegal, unethical, or improper conduct. Manages day-to-day operation of the department.
Develops and periodically reviews and updates Standards of Procedure and Code Of Conducts to ensure continuing currency and relevance in providing guidance to management and employees.
Collaborates with other departments (e.g.,Financial Control, Admin, HR Operations, etc.) to direct compliance issues to appropriate existing channels for investigation and resolution. Consults with the Company Lawyers as needed to resolve difficult legal compliance issues.
Responds to alleged violations of rules, regulations, policies, procedures, and Codes of Conduct and SOP by evaluating or recommending the initiation of investigative procedures. Develops and oversees a system for uniform handling of such violations.
Acts as an independent review and evaluation body to ensure that compliance Issues/concerns within the organization are being appropriately evaluated, investigated and resolved.
Monitors, and as necessary, coordinates SOPs of other departments to remain abreast of the status of all activities and to identify trends.
Identifies potential areas of compliance vulnerability and risk; develops/implements corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future.
Provides reports on a regular basis, and as directed or requested, to keep the senior management informed of the operation and progress of compliance efforts.
Ensures proper reporting of violations or potential violations to duly authorized enforcement agencies as appropriate and/or required.
Institutes and maintains an effective compliance communication program for the organization, including promoting a) heightened awareness of Standards of Conduct, and (b) understanding of new and existing compliance issues and related policies and procedures.
Works with the Human Resources Department and others as appropriate to develop an effective compliance training program, including appropriate introductory training for new employees as well as ongoing training for all employees and managers.
Monitors the performance of the Compliance Department and related activities on a continuing basis, taking appropriate steps to improve its effectiveness.