Through restructuring, senior leadership can signal that digital transformation in compliance is critical for the future of the organization. From this point, the compliance function can work with an internal digital product design group. By doing so, the corporate compliance function can work with a team dedicated to supervising the development of the new compliance solution through product design, testing, and analysis, which will include customized generative design and analysis tools. Top management can signal the importance of the compliance digital transformation by using this dedicated team to spearhead the compliance function’s digital transformation development process.
One of the great things about the compliance world is that we are only limited by our own imaginations. If you can imagine a better way for your company to comply fully, it is at your disposal to do so. Yet, rarely do we think about the structure of how compliance activates as a way to operationalize compliance more fully. By identifying and bringing in the skills needed to move forward with compliance innovation, you can help kick-start the compliance operationalize process through a digital transformation of your compliance regime. By doing so, you may make all the difference between success and failure coming out of the Coronavirus health crisis as the world reopens for business.
Three key takeaways:
- Have you considered a generational team approach to a digital transformation in compliance?
- Have non-compliance professionals aid in compliance program development.
- In compliance, you are only limited by your imagination.
For more information, check out The Compliance Handbook, 4th edition, here.
