CIO Wisdom II: More Best Practices

Institutionalize Compliance (Make It Everyone's Job)

Formalize Procedures

By formalizing and publishing your compliance procedures, you eliminate the plea of ignorance of the law. No longer can you tell regulators that you were unaware of a specific regulation or their interpretation of it. At your level, CIO, you should never use this excuse anyway. Getting your procedures in a manual and training staff on them is a very important step in overall compliance. Sometimes, training prompts employees to bring up compliance issues of which you may not have been aware. Such early discoveries allow you to adjust procedures before they becomes an issue with regulators. Task your employees with learning regulations that affect their functions. Make everyone ...