Managing risk and compliance in HR Management in the Digital Era

Organizations face a constantly evolving risk management landscape. Employee training and shared information are essential to mitigate risk. An effective HR system can be very useful for supporting compliance throughout your organisation.

Compliance has become a compulsory function in the financial sector. And companies have been quick to realize the economic benefits of risk prevention beyond regulatory and legislative grounds or costly crisis management.

To monitor operational risk you should consider setting up a dedicated program to inform, train and evaluate your employees, to help mitigate any associated business risk.

SuccessFactors Learning, an online training solution, allows you to carry out prevention campaigns, and judge their effectiveness, team by team. Dynamic dashboards report the results and allow for the necessary adjustments in terms of both pedagogical content and organizational terms.

To ensure that any new risks are correctly identified upstream, you should also regularly circulate opinion polls on current or future risks within the company to your management teams, in order to prepare the updating existing compliance programs. This is where SuccessFactors Learning makes it easy by enabling you to distribute evaluations and questionnaires to your employees and to instantly summarize the results obtained.

Finally, in order to achieve real and effective improvement of your risk management and compliance processes, compliance officers and risk managers within the organisation should commit to continuous training to understand the best practices in their sector, as well as new risks and regulations. In certain sectors, this is even compulsory, for example in the financial sector by the Financial Sector Supervisory Commission (CSSF).

SuccessFactors Learning enables you to implement training courses with automated renewal after a set timeframe for each job profile.  This is an effective way to contain the risks of regulatory infractions.

The compliance officer job can also be facilitated by setting up a digital risk management and enforcement strategy at all levels of the company.

SOA People is a specialist in SAP solutions and can help you choose the best options to digitize your compliance department.

Send an email at marketing@soapeople.com for more information and a demo.