Triple Bottom-Line Compliance™
Triple Bottom-Line Compliance - How to Deliver Protection, Productivity and Impact is changing the conversation about the role of Compliance in organizations, transforming it from a cost center to a competitive advantage.
Author Beth Haddock, governance attorney and CEO at Warburton Advisers, helps compliance officers (COs) make a sustainable impact. She believes COs can and should be thought leaders who leverage behavioral economics to add value beyond their important role protecting the organization.
Sustainable Governance and Triple Bottom-Line Compliance™
Sustainable Governance takes a long-term approach, positioning the CO as a senior leader at the table when decisions are made and changing Compliance from a gatekeeper role to one that delivers protection plus more. Sustainable Governance is a system that prepares Compliance to deliver Protection, Productivity, and Impact:
against liability and prosecution by going beyond bare compliance with legal and regulatory requirements to create protective systems that prevent mistakes from happening twice.
gained from minimizing bureaucracy and developing programs, based on lessons from behavioral economics, that incentivize good judgment and compliance.
by reducing inefficiencies and expenses associated with costly scandals and mistakes while also increasing brand value, credibility, and trust, making the organization more attractive to investors and consumers.
Triple Bottom-Line Compliance explains how to implement a culture of sustainable governance with eight effective strategies including building legal alliances, mastering diplomacy, and serving your client. It discusses how COs can create the programs and processes to support the shift in focus from a short-term, “firefighting” approach to a long-term approach that adds value. It also discusses how COs can build rapport as a trusted adviser and why they should hone business skills like project management and develop their personal brand.
The Time is Ripe for a Change in the Role of Compliance
Regulations are always changing. RegTech is becoming more widespread. The government brings suit against compliance officers for perceived bad conduct in their organizations. Ethical impact and corporate responsibility are increasingly important to investors and consumers alike, and the megatrend of environmental, social and corporate governance (ESG) is not going anywhere. Taken together, these trends show that now is the time to make a fundamental change in how Compliance is positioned within the organization. Now is the time to see COs for the valuable resource they are, in a unique position to help guide their organization into a future that goes beyond Compliance to responsibility, sustainability, and success.
Triple Bottom-Line Compliance - How to Deliver Protection, Productivity and Impact is a must-read for compliance officers who want to make an impact that benefits everyone – the organization, their clients, and the COs themselves – in the process.