Ethics and Compliance Program Management: The systematic approach to developing, implementing, and overseeing an organization’s ethics and compliance initiatives to ensure adherence to legal and ethical standards.
Regulatory Frameworks: The laws, regulations, and industry standards that govern an organization’s ethical and compliance responsibilities, including legal obligations and best practices.
Corporate Governance: The system of rules, practices, and processes by which a company is directed and controlled, often involving a framework for ethical decision-making.
Risk Assessment: The process of identifying, evaluating, and prioritizing potential compliance risks and vulnerabilities within an organization.
Risk Mitigation: Strategies and actions taken to reduce or eliminate identified compliance risks and minimize their impact on the organization.
Code of Conduct: A set of ethical guidelines and principles that outline expected behavior and standards of conduct for employees within an organization.
Policy Development: The creation and implementation of written policies and procedures that guide ethical behavior and compliance with laws and regulations.
Compliance Training: Educational programs and initiatives designed to educate employees and stakeholders about ethical standards, legal requirements, and compliance expectations.
Whistleblower Programs: Mechanisms and processes established within organizations to allow individuals to report unethical behavior or violations of laws and regulations without fear of retaliation.
Ethical Reporting Mechanisms: Systems and channels for employees and stakeholders to report ethical concerns, violations, or misconduct within an organization.
Risk Assessment: The process of identifying, evaluating, and prioritizing potential compliance risks and vulnerabilities within an organization.
Monitoring and Auditing: The ongoing evaluation and examination of ethics and compliance programs to ensure their effectiveness and adherence to standards.
Continuous Improvement: The practice of regularly assessing and refining ethics and compliance programs to adapt to changing regulations, emerging risks, and organizational needs.
Ethical Culture: A workplace environment and organizational culture that promotes and values ethical behavior, integrity, and compliance with ethical standards.
Leadership Commitment: The active and visible support and commitment of organizational leadership to ethical conduct and compliance with ethical principles and standards.
Enforcement Mechanisms: Processes and actions taken to ensure that ethics and compliance policies and standards are followed, including disciplinary actions for violations.
This glossary provides definitions for key terms related to Ethics and Compliance Program Management, helping participants better understand the concepts and principles associated with managing and promoting ethical behavior and compliance within organizations.