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Riddle Compliance
Riddle Compliance

Compliance Program Design & Implementation

Every organization has a set of regulatory compliance challenges it must overcome in adhering to the myriad of regulations and best practices relevant to its operations. Growing organizations face more cumbersome obstacles due to their marketplace position. Growing organizations generally have limited resources and possess a growth-driven mentality – two challenges that compete against the design and implementation of an effective ethics and compliance program. Riddle Compliance leverages its experience with growing organizations to create effective regulatory compliance programs used to detect and monitor risks without undermining strategic growth and other operational practices.

IDENTIFYING POTENTIAL REGULATORY COMPLIANCE GAPS

Prior to designing or implementing an organization’s compliance program, Riddle Compliance conducts a formal gap analysis and cursory risk review to assess an organization’s lines of business. This initial risk review enables Riddle Compliance to provide guidance on potential risk areas, regulatory threats and other business practices. Specific conduct and business practices trigger regulatory oversight; therefore, identifying potential risks and compliance gaps is a critical part of designing and implementing an effective compliance program relative to underlying business practices and strategies.

DEVISING AN EFFECTIVE COMPLIANCE PROGRAM DESIGN

Following an initial risk review and compliance gap analysis, Riddle Compliance devising compliance programs based on the elements of an effective compliance program as promulgated by state and federal regulatory agencies, subject-matter experts, and other industry best practices. With growing organizations having less rigid structures, limited in-house resources and staff, Riddle Compliance designs sustainable compliance programs given a company’s current posture. Once an effective compliance design is devised, strategic guidance is provided to commence development and implementation.

STRATEGIC COMPLIANCE PROGRAM IMPLEMENTATION

Our compliance program implementation is tailored to each organization’s goals and business; however, it may include devising reporting structures; drafting policies and procedures; selecting internal auditors and compliance staff; developing risk ratings and monitoring initiatives; identifying high-risk business practices; performing risk assessments; creating a third-party management program; developing training plans, investigation protocols, and compliance communications; and assisting with the creation of corrective action plans to mitigate consequences of noncompliance.


PRACTICAL COMPLIANCE PROGRAM DESIGN FOR GROWING ORGANIZATIONS WITH REGULATORY NEEDS

  • Design and development in alignment with industry best practices and the elements of an effective compliance program
  • Tailored to meet regulatory demands while being manageable to fit the size and complexity of the underlying organization
  • Development of risk monitoring to enhance growth and performance goals
  • Compliance program design to efficiently utilize limited resources
  • Development of usable policies and procedures to fit a growing organization’s needs and unique business demands

QUESTIONS TO CONSIDER BEFORE DESIGNING AND IMPLEMENTING A COMPLIANCE PROGRAM

  • Has my organization identified key regulatory compliance areas?
  • Does my organization have standing procedures and business practices?
  • Is my organization capable of allocating reasonable resources and staff to develop the compliance program?
  • Has management assessed trending regulatory issues in relation to current operational practices and lines of business?
  • Is my organization required to maintain a compliance function?

REGULATORY COMPLIANCE REQUIREMENTS

All compliance program design and implementation consulting services are facilitated to meet regulatory demands. Recent industry developments, advisory opinions from regulatory agencies, applicable caselaw, and other subject-matter materials are used to ensure each compliance program is designed and implemented with current trends and possible risks as part of the strategic design.

COMPLIANCE PROGRAM EFFECTIVENESS

Riddle Compliance develops durable ethics and compliance programs to withstand regulatory shifts and other influential changes. Our compliance program design and implementation solution is for organizations looking to acquire compliance consulting advisory to assist in developing a framework to manage ongoing compliance initiatives.

DESIGN AND IMPLEMENTATION COMMENSURATE WITH AN ORGANIZATION’S SIZE AND COMPLEXITY

Our governance, risk and compliance consulting services involving the design and implementation of a compliance program are tailored to each client’s specific risks and lines of business. Although we utilize the standard elements of an effective compliance program to design and implement monitoring and management practices, each client we work with receives a customized compliance program design with corresponding implementation strategies that fit the client’s business needs, operational efficiencies and deficiencies, accessible resources, and a host of other company-specific considerations.