How to Build a Strong Ethics and Compliance Team

To recruit and retain a strong ethics and compliance team, it is important to establish a mission and vision for the team so everyone understands what is expected of them.  This article in Compliance Week breaks this down into five critical steps:

1. Provide the proper resources. The team will need resources such as an adequate budget and up to date technology to do the work well.
2. Build a multiskilled team with varied talents, capabilities and levels of experience. A well-rounded team could consist of someone with skills in business management, another person who is highly effective with communication and someone else with technological knowledge.
3. Establish communication with other departments. The ability to collaborate within the company beyond the team’s own circle can strengthen both compliance and other departments involved.
4. Train and upskill your employees. Whether it is strengthening a skill or developing a new one, free or paid courses could help the team and the company in the long run.
5. Delegate and empower your employees by trusting them with tasks and letting them know that you understand how important their role is in your company.

Make sure this ethics and compliance team has a clear purpose and mission within the company.  A compliance officer should have clear directions and leadership abilities.  As detailed in this Today’s General Counsel article, the pandemic presented a unique  opportunity to bring ethics, risk and compliance functions together to enhance collaboration.