The article provides some examples of regulatory compliance mission statement used by companies and organizations in the United States. Regardless what industry a company operates in, regulatory compliance is an important part of the operations. Because of its central role, a mission statement to that extent helps the compliance team focus on the long-term goals when discharging their duties. It further helps the company’s operations run smoothly.
Regulatory compliance in the United States refers to an organization’s adherence to laws, regulations and guidelines relevant to the particular line of business. In other words, regulatory compliance is the process of making sure as an organization that the company and employees follow the laws, rules and standards that apply to the organization. An organization’s failure to comply with regulations is punishable by law and often results in fines. Effective regulatory compliance procedures cover internal policies, state law and federal law. Regulatory compliance is an ongoing process which requires an organization to keep up to date on all rules and regulations.
The regulatory compliance mission statement varies from company to company and we provide some examples below:
- University compliance mission statement. The mission of the Compliance Division is to provide an independent and objective assurance designed to enhance and improve the University’s operations. The Division aims to assist the University to accomplish its objectives by applying a systematic approach to evaluating and assessing risk management, controls, compliance mechanisms, and stewardship processes.
- Medical center compliance mission statement. The mission of the Corporate Compliance Department is to promote an organizational culture that encourages ethical conduct and a commitment to compliance with the law and to otherwise make a good faith effort to detect and prevent criminal conduct. The Department encourages anyone with reason to believe that a violation of the law, a regulation, the Code of Ethical Conduct, or any policy and procedure immediately report what they know or suspect to the Compliance office.
- Securities company compliance mission statement. We work to obtain the latest information on FINRA, SEC, and state securities rules and regulations to support the growing and ever-changing needs of our clients. Working towards compliance is a mutual communication process in which both our clients and our staff work together to form the most effective methods to achieve and maintain regulatory compliance. Through our commitment to excellence, we expect to achieve the highest level of regulatory compliance for our clients in order to assist them in maximizing their business opportunities.
- Pharmaceutical company compliance mission statement. Global Corporate Compliance Policy. The Board of Management is unreservedly committed to compliance, and Company will forego any business transaction that would violate the compliance principles in force throughout the Company Group. The global compliance management system is steered by a central compliance organization within the Company Group. The compliance organization is staffed with specialized compliance managers who are responsible for the corporate functions and for establishing business and industry-specific standards in the divisions, business units and service companies. Through our compliance management system, we want to ensure lawful and responsible behavior by our employees. Potential compliance risks are identified together with the operational units so as to achieve systematic and preventive risk detection and assessment. Risks are identified not just by the global functions (top-down), but also by the Company country organizations (bottom-up). Compiled findings about risks are entered into a global statistical database for compliance risk management that we use to develop suitable measures for specific processes, business activities or countries, for example. We assess our business partners to the same extent with regard to potential compliance risks.
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