Compliance management is not a term heard everyday, but it can be defined as "a process by which a manager plans, organizes, controls and leads activities that ensure compliance with laws and standards", according to Sonia Pearson, working for Tallyfly.

Legal Compliance is a must, because if your enter in contract with customers, the clauses of the contract automatically become legal requirements. You therefore need to be protected from any risk. If you fail to prioritize this kind of management, you could be forced to pay legal fees to angry clients.

These activities can include audits, security procedures and controls, reports and documentation, and compliance policies.

Two different types of approach can be retained to define compliance management :
- being inflexible about what should be done in the company and how it should be enforced. This is mostly what can be found in contracts to provide absolute clarity.
- leave the room for interpretation and flexibility. Even if laws are not negotiable, other standards can be relaxed. As in every company, it is all about being clear and understandable.

How to start with Compliance Management in your own company ?

The first step is to initiate what is called a compliance-based risk assessment that identifies what must be in your compliance checklist. Then hire external parties to help you handling specialized knowledge about the subject. Provide relevant training to all the relevant personnel, conduct periodic audits, allocate responsibilities and set up a system for compliance and record reporting.

Who is a responsible for caring out this mission ?

Being a compliance officer/manager, is much more than making sure every rule is respected. It is all about harmonization of legal and intern standards, making sure the interests of the clients are respected, and develop compliant values in a company that may not even been aware of this term before.

We can lay the emphasis on three different verbs to summarize the missions of a compliance manager : maintain, control and prevent.