Plan and Establish Compliance System

Plan and Establish Compliance Management Systems

Note: Please incorporate the key answers. Answer are between 80 to 100 words .

1. What type of management information systems might be required to have an effective and efficient compliance management system?

· (KEY ANSWERS)

3 parts of information what we must gathers information, review, response to it

· Policies and procedures

· Training and implementation

· Consumers complaints response

2. How can you develop a strategy for creating a compliance management culture in collaboration with other personnel?

(KEY ANSWERS)

· Communication with the board of management, compliances office, backing with the risk management, policies and procedures, standards and controls.

3. What reporting requirements would you require in the various areas of compliance?

(KEY ANSWERS)

Example board management – Annual reports (complaints about investors, customers)

Compliance officer – Outcomes, what areas what do find, is our system is updated, report about the data

Audit report- compliant about the audit

Complaints report –

Risk Plan report

Training Report – outcomes, how much training, training is successful, training delivered, what training was, how much spend for the training, what are the training plan

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