What is Compliance Management (CM)?

Compliance Management (CM) is the set of key controls through which an organization manages legal and regulatory risk and ensures compliance with its internal policies and procedures. An effective CM process will provide the means by which the company satisfies itself that it is in compliance with laws and regulations affecting its business in all jurisdictions where it is operating. Failure to have an effective compliance management system may result in regulatory sanctions, expensive investigations, fine and penalties and damage to the company’s reputation and standing in the community.

Traditionally, companies have relied on law firms or corporate attorneys to advise them of changes to the rules and regulations and interpret these in relation to the company’s businesses.  This is an expensive and inefficient way to address regulatory change.
 

Companies are also subject to internal codes of conduct, policies and procedures. As the laws or governance principles change, or as businesses are acquired or divested or new lines of business or marketing methodologies are adopted, these internal policies must be updated. 

CRSTL Solutions assists companies in satisfying these needs by providing them with a CM system that updates all relevant corporate governance, legislative, and regulatory requirements on a consistent basis. These obligations are distilled into a series of easy-to-read summaries and action-items that the company must take in order to satisfy legal requirements, and are deployed through an easy-to-use software platform that allows continuous monitoring, updating, and record-keeping. CRSTL’s appraisal of the regulatory environment and its easy-to-use facilitation of deployment and administration ensures that your organization effectively satisfies its compliance management mandate and at the lowest possible cost. CRSTL’s workflow technology application is perfectly suited for attestation requirements and the distribution and sign off on all company policies, procedures and mandates. CRSTL’s unique platform provides the training and tools your employees need to ensure that they are aware of and in compliance with all company requirements.