|
Recognizing that our business involves legal and ethical responsibilities that extend
to clients, employees, the courts, and the many organizations we work with, ProVest
is committed to consistently demonstrating that we act with integrity. One testament
to this commitment is the establishment of a Corporate Compliance Program. Carefully
planned and implemented compliance programs reduce corporate risk and exposure by
preventing illegal conduct and mitigating or eliminating punishments and liabilities
for those offenses.
Concern about Corporate Compliance is not new, but increased emphasis is being placed
on the effectiveness of such programs. Stakes are high, with corporate liability
and survival depending on whether compliance efforts are effective and cost-effective.
Tough new civil and criminal penalties have been enacted to deal with corporate
wrongdoing.
We are dedicated to managing and operating our organization with the highest business,
ethical and moral principals, with each associate acting with integrity and holding
themselves accountable to these standards. We hold each employee accountable for
failing to detect violations, and expect them to act ethically.
Corporate Compliance Program
A Corporate Compliance Plan is a set of procedures designed to ensure that an organization
complies with laws and regulations governing its activities. It also serves as a
mechanism to detect and prevent improper workplace behavior, as well as the violation
of laws.
An effective Corporate Compliance Plan includes the following components:
- Compliance standards and procedures
- Overall compliance program oversight
- Standards and methods for delegating authority
- Employee training programs
- Monitoring and auditing systems
- Enforcement and disciplinary actions
- Mechanisms for responding to problems and taking corrective action.
General Counsel and Chief Compliance Officer
ProVest’s General Counsel and Chief Compliance Officer is responsible for designing,
implementing and monitoring the regulatory and Corporate Compliance Program for
all legal and compliance activities at the corporate and operational levels. This
involves the following:
- Creating and oversight of corporate policies and procedures
- Administering risk assessment relative to compliance issues
- Developing and implementing internal audit procedures relative to Corporate Compliance
issues
- Maintaining a library of regulations, policies and procedures
- Monitoring changes to applicable laws and regulations affecting the organization
and making timely, necessary modifications to operations, policies and procedures
- Overseeing the development and implementation of a Corporate Compliance training
program (including employee training sessions)
- Leading investigations related to Corporate Compliance issues (including employee
and client concerns)
- Developing and implementing employee feedback programs which encourage the reporting
of potential problems without fear of retaliation.
Compliance is a collective responsibility that requires individual accountability
|
