Compliance has traditionally been the driving factor behind many corporate management initiatives. However, if risk management and compliance are approached from corporate culture perspectives, the scope of various layers of regulatory compliance can be overwhelming and managed by the available resources.

The first review of the applicable corporate culture is often based on your geographic location, regulations, and local jurisdictions. Later the additional territories you operate in, the industry-specific trade rules apply to your operations, and the context and corporate initiatives that can help develop and support the business objectives of the corporate culture.

Use Compliance Regulations for External Context

Most enterprise-level businesses have dedicated research to identify applicable regulations and proactively address the corporate culture critical to understanding the potential impact on your business and the severity of any cultural activity in the organisation.

These research solutions can track and monitor the regulatory actions and how management uses the information to unify risk and compliance efforts? For example, leveraging readily available information to select an appropriate risk score, prioritise remediation efforts, or potentially apply cost-benefit analysis on the best path forward for your business to enhance the corporate culture.

Balancing Corporate culture to Risk and Compliance

Beyond regulation, there can be additional that conduct the company culture to foster positive business outcomes, e.g. IT and cybersecurity with the digital presence in data discipline and IT integrity in systems and a pro-active IT Risk Management program.

The corporate culture landscape is shifting with new initiatives changing how companies are measured today. Ethics and corporate social responsibility are top of mind for board members and executive teams. Ensuring that operations are well intended and cause minimal harm

Take a Risk-Based Approach

Leading companies who have successfully implemented and changed their operations’ culture this way find that this translates into an umbrella safeguard addressing most of their compliance and risk obligations.

At the Global Risk Management Day on the 10th of March 2022, we review and develop a Risk-based approach to the set of well-defined attitudes, values, beliefs, goals with characteristics to create gratifying working environments for all stakeholders. Register here.