Compliance Project
This memo serves as a summary and a justification of the training associated with the current compliance project that is underway with Acme Corporation. This report will contain the name of the project, a brief description of the project, an identification of the stakeholders directly or indirectly involved in the project, the overall objective and expected or desired outcomes of the project, how success will be determined and defined and what is needed to decipher the value of the project to the organization.
The main reason this project is being under-taken is that Acme is in a very compliance-intensive industry, both as it pertains to Acme's own compliance concerns as well as that of the clients we serve who expect us to help them remain compliant with the law as we implement services for them.
Rather than having a disjointed and, at times, disorganized set of compliance activities and initiatives, all of the compliance activities will be located and emanated from a single point. This will start with the upcoming training that will occur at the central offices. This is not to say that there will not be any locus of compliance control at areas other than the central office, but all final decisions and procedures and the decisions associated with the above will all come from the centralized source. This is to ensure that there is a group of people where the proverbial buck stops with Acme Corporation rather than getting into a blame game with autonomous departments and offices. The intent is to have no doubt as to what the law and what Acme Corporation requires given any certain procedure or decision made that has any involvement with the law and remaining compliant with the same (Entis, 2013).
The stakeholders of the policy are numerous but easy to spot. The first stakeholders will be the Acme central legal and compliance departments that will take on full responsibility of...
This is not to say that the compliance department cannot or will not answer questions about why a decision is made or what path to take, and so forth. However, this project is necessary so that the people making the legal and compliance decisions are the same people that will generally be held accountable for the legal and compliance decisions (SCCE, 2013).
The next set of stakeholders will be the non-compliance department employees in the firm. They will enjoy the benefit of compliance decisions emanating from a single point rather than being disjointed and perhaps not in sync with each other. This will also prevent employees and managers from asserting authority and power that they do not have. It will be clear what the prevailing policy is and why it should be that way. Anyone out of sync with that will be corrected and this will make the lives of everyone else subject to those missteps much easier because they will be assured that they are following the directives of management by following the compliance department edict.
As noted before, customers have a stake in Acme being compliant vis-a-vis the service and products that are offered by Acme and how they are used and harnessed with the client, so they are stakeholders as well and they will obviously benefit from the this program. Just as with internal programs and initiatives, the compliance department will have the final say on policies and procedures that have legal implications. However, they will be more than willing to answer questions for new and unique situations as well as requested exceptions by internal and customer contacts. All an employee or client has to do is reach out to the proper party and ask the questions that they want answers to.
The desired outcome and objective, if one were to keep it simple, is to remain…
