Communication compliance has been essential to businesses.
With technological advancements and increasing misconduct, companies demand compliance officers strictly observe and control internal communications. These include tighter text archiving systems and efficient mobile call monitoring.
Compliance officer initiates cross-division collaboration with companies to monitor and mitigate communication compliance risks.
However, there are lots of concerns arising with these professionals. Here are some:
Changing of Laws and Regulations
Amending the laws and regulations can help compliance officers perform their duties well. But, it can also lead to confusion and adversities of their existing practices.
For instance, the General Data Protection Regulation (GDPR) requires companies from the European Union to obtain users’ consent before processing their citizens’ data. The new and modified MiFID rules for call recording also demand organizations capture mobile calls in the highest resolution possible.
Geopolitics and Sanction Compliance
When enforcing policies, it is vital to consider the geopolitical situation in markets. Compliance officers need to familiarize themselves with their business practices and partner organizations. It is becoming more crucial, especially with new alliances and the possible existence of trade wars.
Moreover, the government should enforce new legislation to combat foreign or domestic threats in the local economy. The compliance professional can consider the risks and perform due diligence on the communication requirements.
Cultural Risks
Besides the external factors presented above, challenges within the organization can contribute to the difficulties of compliance professionals. With the current cross-cultural issues and diversities of the people, business efficiency can struggle and might pose risks to its operations.
One example of cultural risk is the shifting perspective of modern workers from the old email style to texting. The formality of languages and the complexity of understanding the context of the text message can change.
The ultimate goal of the compliance officer is to address communication risks and adhere to necessary policies. These compliances indicate the acceptable use of mobile channels and devices in the workplace. Thus, it is essential to comply and work hand-in-hand to avoid further liabilities.
To learn more, here is an infographic from TeleMessage.
