An ethics and compliance risk assessment is the foundation of an effective ethics and compliance risk management program. This detailed course provides a 12-stage framework that will help you complete your own ethics and compliance risk assessment.

The 12 stages are divided into two components, the Planning Phase and the Implementation Phase.

The planning phase consists of six stages;

• Leadership buy-in.
• Setting up the process.
• Resources.
• Framework & methodology.
• Risk appetite.
• Automation.

The Implementation Phase has six stages too;

• Collecting the data.
• Identifying ethics and compliance risk factors.
• Inherent risk.
• Identifying, mapping and rating mitigating controls.
• Residual risk.
• Developing the action plan.

In this hands-on course, we provide a wealth of practical tips on how to go about these tasks. Along the way we are also going to look at a number of major components and themes relating to the ethics and compliance risk assessment; items such as;

• Definitions.
• Understanding why ethics and compliance risk assessment are so important.
• Regulations and compliance requirements in the US, the UK, France and the OECD.
• How the COVID-19 pandemic changed the risk profile and what we need to do to counter these additional risks.
• Details of the main risk management systems currently in use.

With a completed ethics and compliance risk assessment and armed with your findings and action plan, you will be equipped to develop and implement an effective ethics and compliance risk management program.

As an added bonus, the approach that we use in this course is easily applied to any form of compliance, ethics, or conduct risk. What this means is that that the process will work equally well for data privacy, bribery and corruption, conflict of interest, financial integrity and fraud, modern slavery and other forms of economic crime.

Course Key Concepts: Risk management, Ethics, Residual risk, Compliance, Inherent risk, Regulation, COVID-19, Corruption, Risk appetite, Risk tolerance, Heat map, Risk register.