Checklist on how to do the job right: Risk management & compliance

1 – Know all ins and outs of your operations

First and foremost, and this sounds like a total no-brainer: Know all of your operations inside and out. To do that, map out all the risks that you are dealing with. In this process you will learn what things you are still missing, or you will gain additional insights that you didn’t have before. Learn more about mapping out risks.

2 – Find appropriate standards/regulations

Find appropriate standards or regulations that you want to or must comply with. Make sure that they are industry specific and relevant to attain your organization’s goals.

3 – Identify the gaps between standards and operations

After identifying all the risks, mapping out how your organization is dealing with them, and having all the applicable regulations and standards available, you can identify the gaps between prescription and execution that you still need to overcome. These are measures that your organization must incorporate to meet all criteria to comply.

Of course, it’s not a bad thing to have gaps in the first place, but the goal should be to overcome all these gaps in the end.

4 – Communicate about these gaps to the right audience

After identifying the gaps, it is important to communicate about them. On one hand you are communicating internally to make people aware of the gaps that you are still facing. On the other hand, you want to communicate about these gaps to higher management. If you have gaps to overcome, you will need resources and budget to do so. Therefore, make sure that you communicate to the correct people, that will have to make the decisions about this.

Learn more

Want to learn more about mapping out risks and how your organization is dealing with risks? Check out this page. Learn more about a framework that helps you comply with regulations? Check out this blog. If you have any questions about compliance and risk management, please feel free to contact us.

© CGE Risk. 2021 – The copyright of the content of this blog belongs to CGE Risk Management Solutions B.V.