Risk-Based Compliance: A Strategic Approach

This podcast episode of "The New Compliance Officers Playbook" explains how to develop a risk-based approach to compliance. The approach prioritises compliance efforts based on risk level, involving steps to identify and assess risks, using a risk assessment matrix to categorise them by impact and likelihood, and implementing control and mitigation strategies. The episode stresses the importance of ongoing monitoring, review, and adjustment of the approach to remain effective. Finally, it highlights that a risk-based approach helps organisations work smarter, not harder, improving compliance while protecting against potential damage.

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