Level 3 Diploma - Compliance Management

Course Overview

The course examines changes in compliance management practice against the context of the changes in the UK, EU, US and global economy, and will be of particular interest to those needing to practice compliance management skills on a day-to-day basis. Compliance is defined as a state in which someone or something is in accordance with established guidelines, specifications, or legislation. Software, for example, may be developed in compliance with specifications created by some industry body. Compliance in a regulatory context is a prevalent business concern, perhaps because of an ever-increasing number of regulations and a fairly widespread lack of understanding about what is required for a company to be in compliance with new legislation. It provides detailed learning theoretical background, with the use of actual case studies offering practical tools, compliance management techniques and compliance communication formats needed for everyday use.

*** Mandatory Text Book

Students are expected to purchase and use the book COMPLIANCE AND CHANGE MANAGEMENT: WHAT YOU DON'T LEARN AT HARVARD by Abe Abrahami,

Course Content

Module 1: What is Compliance Management?

The ordinary person became concerned with compliance when large firms momentously failed in how they conducted honest business, the best example being Enron in the USA. In 2014 Tescos Supermarket in the UK is being investigated for over-claiming on profits which made them look far more successful than they had been. This is considered to be business fraud. So a method for ensuring the delivery of high quality for discerning customers needed to be established. The first module will introduce the modern concepts of compliance management (CM) terminology, skills, and how these can change and develop within a business management context. It examines the way CM theories evolved, and the compliance manager's role in this process. A range of guidelines in practical compliance mandates exists with recognised regulatory Industrial bodies in all countries who give support and clarity, so these will be discussed for a range of businesses and industries.

Module 2: The individual as a Compliance Manager

Each individual has to take responsibility in knowing what their company or business does and their roles in completing work well and to a high standard. Some employers expect a SWOT analysis so each individual is aware of their strengths and weakness, threats and opportunities. The manager has to drive what is best for the whole company and encourage individuals to perform their best at all times, so he must get support from the executive to e.g. setting bench mark targets by offering incentives and benefits to employees. We investigate the essential core skills needed for a compliance manager to deliver high standards. Tips and techniques are given for successful compliance management, compliance goal-setting, compliance problem-solving, effective compliance resolution meetings, compliance interviewing and giving or receiving compliance related feedback. Relevant tools are explored, including compliance landscape analysis. Often it is easy to recognise failings and problems, but the most useful skill is how to inform and encourage the company on how to make changes to compile to best practice, maximise profits and meet legal requirements, so tips on how this can be achieved are learned through studying a real case study.

Module 3: Compliance Structure and Environment

Any company that is assessed will be seen differently through different eyes, and often management make changes that make not make sense to the employees who actually deliver the work. Common sense tells us that any compliance strategy must consult every employee at every level, communication, transparency and thoroughness of analysis is essential. This module includes an assessment of different features and types of compliance organisation structure and the various environments within which compliance organisations operate. So roles and responsibilities must be very clear, and specialist staff must be aware of the impact of their advice on the actual working being done. Recent trends and the move towards the use of compliance integration will be assessed for an actual company, and how this will help it to anticipate a compliance organisation future evolution.

Module 4: Managing Compliance Processes

Again we start with a real case study of an Insurance company to first assess its working history and then suggesting a Compliance request by setting goals, implementing changes and seeing it through to completion. This module takes an in-depth look at processes that the internal features of a compliance organisation requires, including planning and strategy, compliance costs and budgets and the benefits of understanding the compliance processes of a business. Examples of how to implement the process and practical advice is provided on facilitation of training e.g. through workshops, in the context of compliance process improvement. Different models of compliance processes are assessed, both generally and by looking in-depth at a case study which has helped ground compliance management processes from start to finish, show its merits and provide a guide on how to do it well.

Module 5: Managing Compliance Projects

In any project a company will have hired the best team to set realistic goals and targets to complete a project, keeping to budget and timeframe, and meeting legal compliance requirements. How this can be achieved and failure to do this is investigated here. The module helps to answer 'What is a compliance project'; this is achieved by providing a step-by-step breakdown of the key phases for managing compliance projects in order for them to be a success. It provides advice on financing compliance projects, and on quality compliance assessment. Guidance on compliance project team roles and effective brainstorming for problem-solving is provided in order to minimise risk and problems.

Module 6: Managing Compliance Diversity

Diversity, like the word itself has several meanings or belief of what it is in reference to an issue, e.g. performance measure diversity, retail diversity, cultural diversity, product diversity. For each it is essential a variation in 2 or more entities, but key to all is that it must be managed professionally with attention to detail. A useful example is the request to banks from customers requiring moral and ethical investment of their funds. This module embraces the increasingly diverse UK, EU, US and global compliance mandates and the business case for managing by diversity-unification principles. Key compliance issues, requests from discerning customers and legislation will be examined, including common challenges and potential conflicts, and diverse compliance themes of international regulatory styles. Another example is the request for organic and fairly sourced products, and the battle to offer these at a competitive price but ensure they are as advertised (organic and fair trade).

Module 7: Compliance and Change

Compliance and change may be regarded as a 'chicken and egg principle' – which comes first? This is very important in company compliance and how to manage governance during a period of necessary change to meet legal requirements. We define governance, organisational structure and policies as these are the responsible control entities within a company. Accordingly this module includes a review of compliance-caused/affecting organisational changes. We discover that compliance is not as easy to manage and implement as legislature demands. However, managing the compliance-change process and dealing with individual resistance and cultural issues is covered in order to facilitate a start in the compliance process. Techniques on successfully achieving compliance and change involve the use of coaching, mentoring and facilitation development, e.g.it may not be possible to change a large company all at once and so we begin a cyclic process of compliance and change.

Module 8: Quality and Compliance

If you cannot size it, you cannot measure it, and if you cannot measure it, you cannot improve it – this is a quality and compliance axiom. Numerous frameworks, standards, techniques and concepts have evolved over the past decades to improve product and quality of service. The use of compliance goals, related compliance performance indicators, service level agreements and benchmarking will be considered, along with a review of quality-compliance management improvement. It is the responsibility of every employee and manager to deliver the best possible product and service and this is easy to do if monitor and evaluate measures and checks are in place. Annual reports containing statistics, accurate records of e.g. complaints, meeting targets and profits are one method for measuring quality.

Module 9: Audit and Compliance

Audits, the evaluation of predetermined criteria of an entity, person or company, are commonly known in the financial context, but it can be applied to any company and department. If you cannot audit it, you cannot measure it, and if you cannot measure it, you cannot improve it – this is an audit and compliance axiom. The use of audit objectives in different contexts, risk assessments, related audit-compliance performance indicators, service level agreements and benchmarking will be considered, along with a review of audit-compliance management improvement. An audit is an indication of financial compliance so declarations made by a company are assessed in terms of transparency and honesty, e.g. there is no money laundering or fraud, reliability and use of resources e.g. IT are being appropriately used, and it carries out a check on effectiveness of quality control.

Module 10: Ethics and Compliance

There have been a large number of scandals particularly in the financial, banking and large company dealings. It appears that fraud and corruption have always existed but they are being exposed more and more encouraging the growth of compliance and regulation to protect the general public. Talk of greed and mistrust is common, especially when in the UK the very people elected were found to be misclaiming expenses. This module examines recent and historic trends in business ethics, corporate governance, environmental issues and social responsibility. The benefits of ethical and corporate responsibility is discussed in a climate where case studies and examples show the ease of corrupt behaviour in business. Common examples of failure to comply e.g. by avoidance of paying tax to mis-selling products are discussed. Practical advice is provided with tips and guidance on making ethics and compliance presentations.

Finally, the course review summary helps to reflect on their learning and also to help set career goals in the field of compliance management.

Diploma in Compliance Management

This course is Quality Assured by the Quality Licence Scheme

At the end of this course successful learners will receive a Certificate of Achievement from ABC Awards and a Learner Unit Summary (which lists the details of all the units the learner has completed as part of the course).

The course has been endorsed under the ABC Awards Quality Licence Scheme. This means that Oxford Learning College has undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria. The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future.

The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector. To this end the learning outcomes of the course have been benchmarked at Level 3 against level descriptors published by Ofqual, to indicate the depth of study and level of demand/complexity involved in successful completion by the learner.

The course itself has been designed by Oxford Learning College to meet specific learners' and/or employers' requirements which cannot be satisfied through current regulated qualifications. ABC Awards endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met. A review of courses is carried out as part of the endorsement process.

ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government. It has a long-established reputation for developing and awarding high quality vocational qualifications across a wide range of industries. As a registered charity, ABC Awards combines 180 years of expertise but also implements a responsive, flexible and innovative approach to the needs of our customers. Renowned for excellent customer service, and quality standards, ABC Awards also offers Ofqual regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.