Level 3 Compliance Management Diploma

Course Content

Level 3 Compliance Management Diploma Unit 1: What is Compliance Management?

The ordinary person became concerned with compliance when large firms momentously failed in how they conducted honest business, the best example being Enron in the USA. In 2014, Tescos Supermarket in the UK was investigated for over-claiming on profits which made them look far more successful than they had been. This is considered to be business fraud. So a method for ensuring the delivery of high quality for discerning customers needed to be established. The first unit will introduce the modern concepts of compliance management (CM) terminology, skills, and how these can change and develop within a business management context. It examines the way CM theories evolved, and the compliance manager’s role in this process. A range of guidelines in practical compliance mandates exist with recognized regulatory Industrial bodies in all countries who give support and clarity, so these will be discussed for a range of businesses and industries.

Level 3 Compliance Management Diploma Unit 2: The individual as a Compliance Manager

Each individual has to take responsibility in knowing what their company or business does and their roles in completing work well and to a high standard. Some employers expect a SWOT analysis so each individual is aware of their strengths and weaknesses, opportunities and threats. The manager has to drive what is best for the whole company and encourage individuals to perform their best at all times, so he must get support from the executive to set benchmark targets by offering incentives and benefits to employees. We investigate the essential core skills needed for a compliance manager to deliver high standards. Tips and techniques are given for successful compliance management, compliance goal-setting, compliance problem-solving, effective compliance resolution meetings, compliance interviewing and giving or receiving compliance-related feedback. Relevant tools are explored, including compliance landscape analysis. Often it is easy to recognize failings and problems, but the most useful skill is how to inform and encourage the company on how to make changes to compile to best practice, maximize profits and meet legal requirements, so tips on how this can be achieved are learned through studying a real case study.

Level 3 Compliance Management Diploma Unit 3: Compliance Structure and Environment

Any company that is assessed will be seen differently through different eyes, and often management may make changes that do not make sense to the employees who actually deliver the work. Common sense tells us that any compliance strategy must consult every employee at every level; communication, transparency, and thoroughness of analysis are essential. This unit includes an assessment of different features and types of compliance organization structure and the various environments within which compliance organizations operate. So roles and responsibilities must be very clear, and specialist staff must be aware of the impact of their advice on the actual work being done. Recent trends and the move towards the use of compliance integration will be assessed for an actual company, and how this will help it to anticipate a compliance organization’s future evolution.

Level 3 Compliance Management Diploma Unit 4: Managing Compliance Processes

Again we start with a real case study of an Insurance company to first assess its working history and then suggest a Compliance request by setting goals, implementing changes, and seeing it through to completion. This unit takes an in-depth look at processes that the internal features of a compliance organization require, including planning and strategy, compliance costs and budgets, and the benefits of understanding the compliance processes of a business. Examples of how to implement the process and practical advice are provided on facilitation of training e.g. through workshops, in the context of compliance process improvement. Different models of compliance processes are assessed, both generally and by looking in-depth at a case study which has helped ground compliance management processes from start to finish, show its merits, and provide a guide on how to do it well.

Level 3 Compliance Management Diploma Unit 5: Managing Compliance Projects

In any project, a company will have hired the best team to set realistic goals and targets to complete a project, keeping to budget and timeframe, and meeting legal compliance requirements. How this can be achieved and failure to do this is investigated here. The unit helps to answer ‘What is a compliance project?’; this is achieved by providing a step-by-step breakdown of the key phases for managing compliance projects in order for them to be a success. It provides advice on financing compliance projects, and on quality compliance assessment. Guidance on compliance project team roles and effective brainstorming for problem-solving is provided in order to minimize risk and problems.

Level 3 Compliance Management Diploma Unit 6: Managing Compliance Diversity

Diversity, like the word itself, has several meanings or beliefs of what it is in reference to an issue, e.g. performance measure diversity, retail diversity, cultural diversity, product diversity. For each, it is essential a variation in two or more entities, but key to all, is that it must be managed professionally with attention to detail. A useful example is the request to banks from customers requiring moral and ethical investment of their funds. This unit embraces the increasingly diverse UK, EU, US and global compliance mandates and the business case for managing by diversity-unification principles. Key compliance issues, requests from discerning customers, and legislation will be examined, including common challenges and potential conflicts, and diverse compliance themes of international regulatory styles. Another example is the request for organic and fairly sourced products, and the battle to offer these at a competitive price but ensure they are as advertised (organic and fair trade).

Level 3 Compliance Management Diploma Unit 7: Compliance and Change

Compliance and change may be regarded as a ‘chicken and egg principle’ – which comes first? This is very important in company compliance and how to manage governance during a period of necessary change to meet legal requirements. We define governance, organizational structure, and policies as these are the responsible control entities within a company. Accordingly, this unit includes a review of compliance-caused/affecting organizational changes. We discover that compliance is not as easy to manage and implement as legislature demands. However, managing the compliance-change process and dealing with individual resistance and cultural issues is covered in order to facilitate a start in the compliance process. Techniques on successfully achieving compliance and change involve the use of coaching, mentoring, and facilitation development, e.g. it may not be possible to change a large company all at once and so we begin a cyclic process of compliance and change.

Level 3 Compliance Management Diploma Unit 8: Quality and Compliance

If you cannot size it, you cannot measure it, and if you cannot measure it, you cannot improve it – this is a quality and compliance axiom. Numerous frameworks, standards, techniques, and concepts have evolved over the past decades to improve product and quality of service. The use of compliance goals, related compliance performance indicators, service level agreements, and benchmarking will be considered, along with a review of quality-compliance management improvement. It is the responsibility of every employee and manager to deliver the best possible product and service and this is easy to do if monitoring and evaluation measures and checks are in place. Annual reports containing statistics, accurate records of e.g. complaints, meeting targets, and profits are one method for measuring quality.

Level 3 Compliance Management Diploma Unit 9: Audit and Compliance

Audits, the evaluation of predetermined criteria of an entity, person, or company, are commonly known in the financial context, but it can be applied to any company and department. If you cannot audit it, you cannot measure it, and if you cannot measure it, you cannot improve it – this is an audit and compliance axiom. The use of audit objectives in different contexts, risk assessments, related audit-compliance performance indicators, service level agreements, and benchmarking will be considered, along with a review of audit-compliance management improvement. An audit is an indication of financial compliance so declarations made by a company are assessed in terms of transparency and honesty, e.g. there is no money laundering or fraud, reliability and use of resources e.g. IT are being appropriately used, and it carries out a check on the effectiveness of quality control.

Level 3 Compliance Management Diploma Unit 10: Ethics and Compliance

There have been a large number of scandals, particularly in the financial, banking, and large company dealings. It appears that fraud and corruption have always existed but they are being exposed more and more encouraging the growth of compliance and regulation to protect the general public. Talk of greed and mistrust is common, especially when in the UK the very people elected were found to be misclaiming expenses. This unit examines recent and historic trends in business ethics, corporate governance, environmental issues, and social responsibility. The benefits of ethical and corporate responsibility are discussed in a climate where case studies and examples show the ease of corrupt behavior in business. Common examples of failure to comply e.g. by avoidance of paying tax to mis-selling products are discussed. Practical advice is provided with tips and guidance on making ethics and compliance presentations.

Finally, the course review summary helps to reflect on learning and also to help set career goals in the field of compliance management.