BSBCOM603: Implementation Plan for Compliance Program

This report presents a comprehensive implementation plan for a compliance program, addressing key components such as personnel, training, and processes. It outlines the roles of a compliance manager and external consultants, emphasizing the need for effective training to enhance communication, decision-making, and problem-solving skills among employees. The plan includes a detailed budget, Gantt chart, and strategies for managing risk within the organization through the compliance management system, including regulatory and non-regulatory risks. The report also highlights the importance of creating a culture of compliance and provides indicators for measuring the effectiveness of the program, ensuring adherence to policies and procedures. The implementation plan is designed to reduce customer complaint resolution time and promote a proactive approach to compliance.

Running head: IMPLEMENTATION PLAN FOR COMPLIANCE PROGRAM
IMPLEMENTATION PLAN FOR COMPLIANCE PROGRAM
Name of Student
Name of the University
Author Note

1IMPLEMENTATION PLAN FOR COMPLIANCE PROGRAM
Compliance management system
The management information system of the compliance management system will help in
looking over at not only one compliance issue but also look after risk, governance and
compliance with the help of a platform that is multi-regulatory. This system will help in not only
solving the present business problems but also problem that might arise in future. This system
will be replacing the existing system by directing all the business flows towards the new system
thereby helping in baseline configuration. Some of the most important components of the
Compliance management system are that of management board to look after all the matters,
various programs of compliance, identifying all the complaints of the customers and responding
to the same. Creation of various policies and procedures for this purpose and to take corrective
actions.
Personnel
A compliance manager or a compliance officer can be there to look after matters of
compliance and to ensure that the organization functions effectively by complying with all the
internal and external compliance requirements. The external consultant can help in providing
professional advice and suggestion regarding the compliance with various rules and regulations.
The personnel suitable in the case of the company under study are external consultant. The
consultant can carry out regular analysis of compliance programs or systems and look after
overall compliance requirements. The compliance manager can look after internal compliance
requirements.

2IMPLEMENTATION PLAN FOR COMPLIANCE PROGRAM
Training
From the training need analysis, it can be said that the employees need to improve their
communication skills, decision making skills, problem solving skills and conflict management
skills. In order to improve the same, training will be given to the employees by a compliance
trainer. The options that will be given to the employees is that the time can be decided by them.
Processes
A compliant management system helps in reducing the time taken to resolve all the
customer complaints as against the traditional methods. This system puts the customer at the
center of all organizational activities. In order to create a culture of compliance management
within the organization is that the leader should have a strong vision for giving a positive
direction to the employees towards a compliance system; there is a need for effective
communication within the organization such that the employees understand the importance of
compliance management within the organization. An effective plan can be adopted for this
purpose to ensure regular checks on the compliance management system such as the plan, do,
check and act. Non-compliance can be identified and reported during site visit or during
monitoring process, during an external or internal audit and it can also be reported by the staff.
for instance any action undertaken by the employees which is not within the procedures or the
documents. In order to ensure the compliance to the policies and procedures, it is necessary to
identify the deadline of the policies, to ensure that the documents containing the same are easily
available to the people and others. There should be some method for measuring the level of
understanding. The indicators that can be used for the purpose of the complaint is that of Key
performance indices. In order to manage risk within the organization through the compliance
management system it is necessary to examine the regulatory and non-regulatory risk. For this

3IMPLEMENTATION PLAN FOR COMPLIANCE PROGRAM
purpose it is necessary to measure the audit plan percentage completed, negative compliance
issues percentage, insurance regulatory issues number, lawsuits related to compliance issues
percentage, the average investigation cost, training time of the customer contacts, the destroyed
documents number, the number of lawsuits related to compliance and others.
Administration
Some of the most important factors that needs to be considered before preparation of the
budget is- the company’s revenue, number of employees, business complexity, risk exposure
inherent in the organization, the total time needed to carry out activities, cost of resources and
tools, training cost and others.
Budget
Factors Amount
Cost of resources 1200 dollars per employee
Amount to be paid to trainer 25000 dollars
Cost of transportation for trainer 6500 per month
Refreshment facilities 4000 per month
Gantt chart
Training requirements Time frame
Team work training from 1st September 2019-1st October 2019
Communication training The training will take place from 2nd October to
3rd December 2019
Problem solving from 4th December to 20th December 2019
Decision making 2nd January to 16th January 2020
Responsibil
ities
(Insert
Required
knowledge
Identified gaps
(What training will
When?
(When will
Training provider?
(Who will be

4IMPLEMENTATION PLAN FOR COMPLIANCE PROGRAM
tasks) (Insert
knowledge
required to
use KMS)
be required to
cover gaps?)
this training
take place?
Over what
timeframe?)
undertaking this
training?)
Developing
compliance
programs
Risk assessment Reducing chances of
group thinking,
involving all the
employees in the
process and team
work.
The training will
be given from 1st
September 2019-
1st October 2019
Compliance trainer
Developing
policies and
procedures for
ensuring
compliance
Conflict management Effective
communication skills
such as effective
listening to understand
the reasons of conflict
can help in doing the
same
The training will
take place from
2nd October to 3rd
December 2019
Compliance trainer
Maintaining
good
relationship
with
government
through
compliance
Problem solving and
communication
By developing
assertiveness skills and
others.
The training will
take place from
4th December to
20th December
2019
Compliance trainer
Advice and
suggestions
on non-
compliance
issues
Decision making and
customer orientation
Through
understanding cost-
benefit analysis and
others.
2nd January to
16th January 2020
Compliance trainer
What will be the expected benefit for the employee of this training?
Their ability to assess risks will be improved, they will be in a position to take better
decisions in case of non-compliance and others.
How will the success of the training be monitored?
Through assessment of the skills, the success of training can be monitored and
various others.

5IMPLEMENTATION PLAN FOR COMPLIANCE PROGRAM