Beyond Compliance
Making Compliance Work for the Business
Published on 2. October 2015
Book
Hardback
224 pages
978-1-119-02059-2 (ISBN)
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Description
Beyond Compliance is about a necessary change in the way businesses carry out compliance, from expensive mechanical 'tick-boxing' to a much more mature, intelligent and lower cost 'judgment-based' compliance which aims to prevent problems occurring rather than treating symptoms and adds value by enhancing customer experience, reducing errors and complaints, reducing reputational damage and regulatory risk. It would work as a reference book in business as well as an academic text.
This book includes:
* maturity matrices (a new measurement tool used in forthcoming ISO 37000)
* self-assessment exercises and how-to toolkits
* case studies
* structured question banks
* overall route-map and accreditation system
This book includes:
* maturity matrices (a new measurement tool used in forthcoming ISO 37000)
* self-assessment exercises and how-to toolkits
* case studies
* structured question banks
* overall route-map and accreditation system
More details
Other editions
Additional editions
E-Book
07/2015
Wiley
€71.99
Available for download
E-Book
06/2015
Wiley
€71.99
Available for download
Person
DAVID JACKMAN is a non-executive director, writer, lecturer and TV and radio commentator and has his own consultancy, intotheclearing.com, specialising in helping firms to work 'Beyond Compliance'. He also founded the Ethics Foundation and the 'Ethics Mark (R)' for value-led businesses, which he is launching in Singapore.
Content
Preface xi
Acknowledgments xiii
About the Author xv
PART ONE Theory
CHAPTER 1 New Compliance 3
The Challenge 3
Turning Point 4
Traditional Compliance 4
New Compliance 5
Shared Journey 5
CHAPTER 2 General Model of Regulatory and Compliance Development 7
Introduction to Development Models 7
General Model of Regulatory and Compliance Development 8
International Comparisons 11
Example of the UK 11
Using Regulatory Toolkits 13
Conclusion 14
Endnote 14
CHAPTER 3 Is Compliance Worth the Money? 15
An Unfortunate Unconformity 15
The 2008 Global Financial Crisis 16
Legacy of Failure 18
Post-2008 19
Increasing Compliance Spend 22
A Line in the Sand 22
Future Challenges 24
Conclusion 24
Endnotes 25
PART TWO Practice
CHAPTER 4 Ethics 29
Definitions 29
Ethics in Regulation and Compliance 29
An Ethical Framework for Financial Services 30
Ethics in Business 31
How Should a Compliance Practitioner Approach Ethics? 32
Ethics at Work versus Ethics at Home 33
Steps Towards Developing Ethics 33
Main Tools for Identifying and Applying Corporate Ethics 35
Three Critical Steps in Establishing Ethics 35
Ethics in Regulation 56
Principles and Ethics 57
Advantages and Disadvantages of Principles 58
Principles-Based Regulation 60
Conclusion 65
Endnotes 66
CHAPTER 5 Culture 67
Pro-Compliance Culture 68
What Is Culture? 69
What Is a Values-Led Mind-Set? 69
Changing and Embedding Culture 70
How to Change Culture 74
Creating Crucibles in Regulation--Examples 77
Regulatory Methodologies 80
UK Indicators 83
Fair Dealing in Singapore 88
Measuring Culture 89
Conclusion 93
Endnotes 93
CHAPTER 6 Good Governance 95
Why Does Governance Matter? 96
What Is Corporate Governance? 97
A Model of Good Governance 101
Ten Principles of Good Governance 102
Conclusion 131
Review: The State of Corporate Governance 131
Endnotes 138
CHAPTER 7 Outcomes 139
Why Is This Step Up So Significant? 139
What Is Outcome? 141
Why Is Outcome So Important? 142
Development Matrix 147
Outcomes in Singapore Regulation 149
Outcomes and Enforcement 150
Conclusion 151
Endnotes 152
PART THREE Purpose
CHAPTER 8 Community 155
Importance of Community 156
Role of Companies 156
Social Usefulness of Banks 158
Role of Compliance 159
Definition of Community 160
Community Principles 161
Sustainable Communities Principles--What Do They Mean? 162
Development Matrix 164
Corporate Social Responsibility 167
New Reporting Standards 167
Behavioural Economics 168
Vulnerable Consumers 171
Conclusion 174
Endnotes 174
CHAPTER 9 Corporate Faith 175
What Is Corporate Faith? 176
Managing Corporate Faith 177
The Value of Corporate Faith 177
Dimensions of Corporate Faith 179
How Faith Develops 183
Corporate Faith into Practice 184
Professionalism 184
Judgment-Based Compliance 186
Conclusion 186
CHAPTER 10 Corporate Maturity 187
What Is Maturity? 187
Maturity and a Direction of Travel 189
Unconditionality 194
The Underlying Process 195
Corporate Maturity Framework 197
Cavitation 198
Connecting the Five Stages of Development with the Five
Levels of Maturity 199
Conclusion 199
Index 201
Acknowledgments xiii
About the Author xv
PART ONE Theory
CHAPTER 1 New Compliance 3
The Challenge 3
Turning Point 4
Traditional Compliance 4
New Compliance 5
Shared Journey 5
CHAPTER 2 General Model of Regulatory and Compliance Development 7
Introduction to Development Models 7
General Model of Regulatory and Compliance Development 8
International Comparisons 11
Example of the UK 11
Using Regulatory Toolkits 13
Conclusion 14
Endnote 14
CHAPTER 3 Is Compliance Worth the Money? 15
An Unfortunate Unconformity 15
The 2008 Global Financial Crisis 16
Legacy of Failure 18
Post-2008 19
Increasing Compliance Spend 22
A Line in the Sand 22
Future Challenges 24
Conclusion 24
Endnotes 25
PART TWO Practice
CHAPTER 4 Ethics 29
Definitions 29
Ethics in Regulation and Compliance 29
An Ethical Framework for Financial Services 30
Ethics in Business 31
How Should a Compliance Practitioner Approach Ethics? 32
Ethics at Work versus Ethics at Home 33
Steps Towards Developing Ethics 33
Main Tools for Identifying and Applying Corporate Ethics 35
Three Critical Steps in Establishing Ethics 35
Ethics in Regulation 56
Principles and Ethics 57
Advantages and Disadvantages of Principles 58
Principles-Based Regulation 60
Conclusion 65
Endnotes 66
CHAPTER 5 Culture 67
Pro-Compliance Culture 68
What Is Culture? 69
What Is a Values-Led Mind-Set? 69
Changing and Embedding Culture 70
How to Change Culture 74
Creating Crucibles in Regulation--Examples 77
Regulatory Methodologies 80
UK Indicators 83
Fair Dealing in Singapore 88
Measuring Culture 89
Conclusion 93
Endnotes 93
CHAPTER 6 Good Governance 95
Why Does Governance Matter? 96
What Is Corporate Governance? 97
A Model of Good Governance 101
Ten Principles of Good Governance 102
Conclusion 131
Review: The State of Corporate Governance 131
Endnotes 138
CHAPTER 7 Outcomes 139
Why Is This Step Up So Significant? 139
What Is Outcome? 141
Why Is Outcome So Important? 142
Development Matrix 147
Outcomes in Singapore Regulation 149
Outcomes and Enforcement 150
Conclusion 151
Endnotes 152
PART THREE Purpose
CHAPTER 8 Community 155
Importance of Community 156
Role of Companies 156
Social Usefulness of Banks 158
Role of Compliance 159
Definition of Community 160
Community Principles 161
Sustainable Communities Principles--What Do They Mean? 162
Development Matrix 164
Corporate Social Responsibility 167
New Reporting Standards 167
Behavioural Economics 168
Vulnerable Consumers 171
Conclusion 174
Endnotes 174
CHAPTER 9 Corporate Faith 175
What Is Corporate Faith? 176
Managing Corporate Faith 177
The Value of Corporate Faith 177
Dimensions of Corporate Faith 179
How Faith Develops 183
Corporate Faith into Practice 184
Professionalism 184
Judgment-Based Compliance 186
Conclusion 186
CHAPTER 10 Corporate Maturity 187
What Is Maturity? 187
Maturity and a Direction of Travel 189
Unconditionality 194
The Underlying Process 195
Corporate Maturity Framework 197
Cavitation 198
Connecting the Five Stages of Development with the Five
Levels of Maturity 199
Conclusion 199
Index 201