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GRC Professional : GRC Summer 2012
IN THE OFFICE 30 GRC Professional • Summer 2012 Compliance and human resources – A partnership made in culture heaven An integrated model case study within AIA Group BY KYM FORTESCUE, CHIEF COMPLIANCE OFFICER – GROUP COMPLIANCE, AIA GROUP, HONG KONG Natural synergy Years before organisations had a separate compliance function, the human resources (or personnel) department was responsible for many activities currently owned by modern day compliance departments. Human resources manage human capital. Development of a culture of compliance and ethics is an important modern day compliance objective and, essentially, about managing the behaviour of people in an organisation. Notable compliance and ethics failures have regularly featured in headlines in recent times. Companies are realising that reactive compliance processes and controls alone will not save them from similarly being featured in the front pages. The importance of the development of a strong culture of ethics and compliance – of incorporating compliance into the DNA of the organisation – is now well accepted. To achieve this, however, compliance activities must be pervasive and cross all functional areas; strong silos cannot exist in the organisation. It is therefore surprising that today, in many companies, the human resources and compliance departments do not commonly work closely together to help build a strong culture of ethics and compliance, utilising the natural synergy between the two departments best identified through key people ‘touch points’ (see table right). The 18-month partnership between human resources and compliance yielded many positive results.
GRC Spring 2011
GRC Autumn 2012