3. Compliance Management

Compliance management refers to the process of ensuring that an organization adheres to laws, regulations, standards, and internal policies that apply to its operations. This involves identifying relevant requirements, implementing practices to meet them, and monitoring ongoing adherence. Effective compliance management helps prevent legal issues, reduces risks, and promotes ethical behavior within the organization. It also includes training employees, conducting audits, and maintaining clear documentation to demonstrate compliance to stakeholders and regulatory authorities. Ultimately, good compliance management supports an organization’s integrity and reputation while fostering trust among customers, employees, and regulators.