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Risk assessment as a starting point for the Compliance Management System

By Maria Torres teacher “Compliance plan: risk assessment, control and prevention” in the Master in  Compliance & Data Protection Directorate of the EIP International Business School wanted to share the following post.

Risk assessment as a starting point for the Management System Compliance

When implementing a Management System Compliance (SGC), the starting point of organizations, in order to clarify what resources are necessary for the prevention and detection of risks, is the Risk Assessment.

In this way, to be effective, a QMS needs, among other factors, a correct identification of risks that must be analyzed, evaluated and reviewed. In summary, we are talking about good detection and management of the risks of Compliance with the objective of establishing the appropriate control measures that allow preventing and deterring inappropriate behavior that may pose possible risks to the organization.

For the identification of risks, it is important that the function of Compliance know the organization in depth, get involved and interrelate with all corporate and business areas. Thus, once the risks have been identified, taking into account various factors (organization industry, size, geography, economic impact, reputational...) they can be evaluated, through probability and impact, giving rise to a measurable level of risk.

Although this identification and evaluation of risks is considered one of the first tasks to be taken into account in the implementation of a QMS, it is also true that it is a task that must not only be carried out at that moment, but periodically the organization must carry out the risk assessment, to guarantee that the QMS is adapted to the specific circumstances of the moment and the organization.

Do you want to specialize in Compliance Management and data protection?

He Master in Compliance & Data Protection Management will make you a highly qualified professional with the necessary skills to carry out specialized tasks in two of the most relevant areas for both private businesses as for public administrations: data protection and regulatory compliance or Compliance.

Compliance Coordinator at Management Solutions

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