Mercury Compliance Cycle®
Requirements regarding the compliance of a company and its employees are continually increasing. As statutory and regulatory frameworks become more complex, implementing compliance is also becoming more demanding. Intelligent compliance processes tailored to the specific circumstances are essential for managing this task efficiently.
An effective COMPLIANCE PROGRAMME consists of the following core elements:
1. RISK IDENTIFICATION (Risk Assessment)
Companies must identify the compliance risks to which they are exposed. This requires an in-depth analysis of all risks associated with their business activities.
2. GUIDELINES AND RULES OF CONDUCT
(Guidelines and Code of Conduct)
Based on the findings of the risk analysis, an internal system of directives must be implemented within the company to enable employees to act in a compliant manner.
3. TRAINING (Training and Coaching)
The contents of the compliance programme and in particular the system of directives must be communicated and explained to employees. Periodic training sessions and ad hoc coaching should take account of the individual position and risk exposure of each employee.
4. MONITORING (Monitoring and Response)
Business processes and employee conduct must be monitored and reviewed within the framework of specific compliance audits (on a sample basis). In the event of actual or suspected breaches, appropriate reporting must be provided and corrective measures initiated.
With our highly qualified staff and our broad experience, we will be pleased to support you in designing a compliance organisation tailored to your specific needs. We look forward to hearing from you — get in touch!