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WHO IS IN CHARGE OF A COMPLIANCE OFFICER TRAINING IN THE COMPANY? VICTOR SHULGA

photo_2017-10-20_18-24-02_300Training of compliance specialists. Who should address this issue in the company? What should be his functions and competence, his responsibility?

Many domestic companies are trying to introduce a compliance policy, keeping up with a global trend. Some make it with their best intentions so that to enhance their business reputation, its attractiveness for investors, to minimize irregularities in the company, and some for formalities, through participation in tender procedures, cooperation with foreign partners and the like.

This formal approach is a result of sharing responsibilities of a compliance officer with responsibilities of a legal adviser or any other person, whose primary functions do not provide for compliance. In such cases, a stuffing unit gets additional responsibilities with defined extra payment. This person is trying to draw up a compliance program, conduct trainings, and draft reports. While the basic principles of compliance control are not observed: the independence of compliance function, ensuring resources for full implementation of duties, proper interaction with internal audit and the like.

Due to the fact that compliance, in fact, is not much different from classical risk management, experts in different areas should be assigned with this function, subject to the risks inherent in the organization. In particular, they may be lawyers, risk managers, internal audit services, HR, etc., managed by an independent CEO or an authorized person.

Currently, in Ukraine, there are no specialized institutions for compliance officers’ training. Most companies independently develop the structure or attract human resources, which have acquired experience in foreign companies. One of the attempts to develop a basic training course on anti-corruption compliance was the establishment of training courses for compliance officers in 2016, under the Corporate Governance Professional Association with the support of the Center for International Private Enterprise.

But the main thing in the implementation of compliance function is not a specialist or his position name, but the so-called “tone at the top” or the will of senior management. Only adherence to the rules by all the CEOs or TOP-management without exception will ensure compliance with rules and regulations by other employees and will introduce a real corporate culture!