Managing a company’s regular governance and compliance strategy is a tedious task. As a governance, risk, and compliance (GRC) professional, you should also strengthen your company’s risk management models. Many compliance professionals struggle while managing different aspects of governance, risk, and compliance. There are no specific guidelines to become an efficient compliance professional. Most of the time, it is just the usual trial and error method. However, there are some basic pointers that you should keep in mind when working as a GRC professional. In his article for Compliance Week, Paul Eccleson shares some tips to become an operational GRC professional.
Essential Tips to Become an Efficient Compliance Professional
Do Not Avoid Problems
Governance, risk, and compliance usually focus on mitigating risks and facilitating smooth operations of an enterprise. There are times when a GRC professional is compelled to make tough decisions on several fronts simultaneously. As a GRC expert, you should not avoid problems. It is your responsibility to analyze the situation, assess your resources, and make a prompt decision.
Lead by Example
Being a compliance officer requires an indomitable leadership quality because many departments are affected by your decisions. Follow your instincts and discuss your ideas with your staff members. There might be instances when your team is not on board with your vision. You should hold a rational discussion with them and explore different options.
Be an Inclusive Compliance Professional
When it comes to making an organizational decision, people usually have their company’s best interests at heart. There could be a difference in ideas and execution, but everybody eventually wants the company to grow. As a compliance professional, you should lead the discussion but respect every suggestion made by other members.
Be Objective with Your Decisions
Some compliance professionals defend their decisions but hold others responsible for their failures. Not only should you not do this, but you should also exercise an objective outlook towards every decision you make. Some GRC strategies usually fail due to ineffective diffusion of power and internal politics of the organization. You should respect others’ opinions and communicate yours effectively to attain the best results for the firm.
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