Compliance is a very common subject among lawyers (Lawyers, Judges, Bailiffs, etc.) and has gained popularity after political scandals . But, for security, the correct thing would be for all companies to know you. Find out in this post what Compliance is and why it is important in business .
Understand what Compliance is
Even if you don’t have a law degree, understanding what Compliance is is a necessity for any professional who wants to grow the business in accordance with the laws .
The term comes from the English Comply , which means to comply with the laws . Therefore, it is not a restricted liability of lawyers, because all human beings who do not want problems with justice, want to respect the law.
Due to the complexity of legal matters and which require a thorough understanding of the Laws, large and medium-sized companies have Compliance specialists in their staff. It is no wonder that according to research, Compliance is a career with high growth potential .
Does this mean that even small businesses that do not have enough revenue need to hire a Compliance specialist ? Yes and no. Even if it is not possible to hire a lawyer with expertise in Compliance , it is important that there is someone in the company responsible for looking at this issue.
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Unlike other legal areas, those who study Compliance do not aim only at solving problems ; but, its main reason is to prevent it from happening. In the business community there is risk management , which is nothing more than their concern.
Did you notice the similarity?
The risk management involves not only look at one point of the company , but consider all the fields that can pose risks to the company’s success in the market .
For this reason, the term Corporate Compliance has been increasingly in the lives of executives , who intend to shield their business . Especially for those in management and coordination , learning in business schools that offer both terms in the same grade is different.
In the market , it is already possible to find business schools that offer the MBA Online Financial Management, Compliance and Risks , and that present all the tools that companies need to gain space in the market without hurting legal premises.
Business compliance and the interests of the institution
Especially for entrepreneurs in Brazil , the concern that the Laws “cut the wings” of the business , is a fact. The truth is that this really happens and many organizations end up stopping in time for fear of going against the rules .
The mission of corporate Compliance is not only to remember what cannot be done, but to find ways to make it happen. In line with professional interests , employees look for ways to align legislation to the mission, vision and values, allowing things to be done, however, legally and not causing any regrets in the future.
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The bigger the institution , the greater the responsibility of the person in charge of the matter in the company grows and that is why the best way out for large companies is to invest in hiring specialists .
Among the matters that are under the responsibility of those who assume such an assignment are:
- Survey and analyze operational risks;
- Verify that all departments are in compliance with the Law;
- Suggest models to encourage the internal public to apply technical standards;
- Investigate and protect the company from fraudulent treatment (internal or external);
- Take care of the secure management of internal data (information security);
- Offer ongoing reports and debates on risk management;
- Establish and update internal rules with Human Resources ;
- Encourage good corporate culture and internal communication;
- Adapt the laws to the scenario (pains, objectives and pretensions) of the company.
How much, isn’t it? But, it’s for a good cause!
Each of these missions is worthwhile and prevents the company from being involved in controversies that can permanently ruin the business due to mere ignorance. Start right now to insert Compliance in financial and risk management , and make this mission another differential in your company
