31 Days to a More Effective Compliance Program - Compliance Innovation Through KPIs

Thomas Fox
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Measuring the effectiveness of your compliance program will be one of the key criteria going forward. One of the mechanisms to do so is through Key Performance Indicators (KPIs). KPIs are a critical component in showing compliance program success or failure, if you have been working towards your stated goals and for reporting success. And while specific requirements for this kind of reporting have been hotly debated in the industry for some time, KPIs are a regulatory requirement. Your KPIs are going to be specific and unique to your See more +
Measuring the effectiveness of your compliance program will be one of the key criteria going forward. One of the mechanisms to do so is through Key Performance Indicators (KPIs). KPIs are a critical component in showing compliance program success or failure, if you have been working towards your stated goals and for reporting success. And while specific requirements for this kind of reporting have been hotly debated in the industry for some time, KPIs are a regulatory requirement. Your KPIs are going to be specific and unique to your company and what business it conducts along. Couple this with what goals you are trying to achieve as a whole as a compliance program and you will see there is no set list of these metrics.

Three key takeaways:

1. KPIs will be critical to assess a compliance program going forward.

2. Set your KPIs.

3. Decide on how to use KPIs and the blueprint for going forward. See less -

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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