A compliance officer responsibilities may include assessing and establishing standards for external communications, such as mandating email disclaimers and using record text messages.
Compliance officers may also create or amend internal policies to reduce the organization’s risk of violating laws and regulations and incurring penaltieslike WeChat fines. They also conduct internal audits of processes. In addition, a compliance officer must have a detailed understanding of the firm and an awareness of where probable regulatory violations may arise.
The compliance landscape is constantly changing.
Compliance officers must be prepared to adapt to these changes.
As a compliance officer, you must be prepared to adapt to changes in the compliance landscape. The landscape is constantly evolving and changing due to technology advancements, new legislation or regulations, and shifts in industry standards. For example:
In 2016, Congress passed the Telephone Consumer Protection Act (TCPA), which prohibits automated dialing systems from making calls without prior consent from recipients. This rule change has led many companies to adopt new call-monitoring technologies that help them ensure they are not violating this law.
Similarly, new regulations regarding privacy have been issued by both state governments and federal agencies such as the Federal Trade Commission (FTC). These rules may require organizations that collect personal information about individuals through social media sites like Facebook or Twitter to update their security procedures accordingly so as not only protect sensitive data but also ensure that anyone accessing it does so legally–which means they need access only after obtaining proper permissions first.
Compliance officers should pay attention to how technology impacts their companies’ records management practices so they can plan accordingly when it comes to training employees on compliance issues and getting ready for audits by regulators or other interested parties.
Compliance officers should be aware of technology trends that may affect the way their organizations keep records, such as cloud computing, mobile devices and social media platforms like Facebook, Twitter and Instagram. The use of these tools has become increasingly popular over the past decade–and they’re not going away anytime soon! Some industries even require certain types of information be kept in electronic form rather than paper format (e.g., healthcare).
Continue reading the infographic below from TeleMessage to learn further about compliance officer strategies for the changing text archiving and call monitoring landscape.
