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RECOMMENDATIONS FOR MANAGING REGULATORY COMPLIANCE RISK EFFECTIVELY

Regulatory scrutiny. More regulation, cost and complexity.

Compliance Recommendations:

  • Legal. Review—with experts—agreements with staffing agencies and contractors to establish the boundaries of the relationship, responsibilities, liabilities, etc.
  • Have contract workers sign contracts and waivers. It’s a good idea to have all contract workers sign a document stating that they are employees of the ……….  and that they waive any claim to compensation or benefits from the client and the agency.

Ensure that your Induction for new staff covers all relevant guidelines and requirements, so that all new staff are clear on what standards of practice they must work to.

Consider introducing internal audits of your company’s working practices, to ensure ongoing compliance.

Ensure that clear customer service standards are in place and clearly communicated, and that all new staff are inducted and trained as appropriate.

Ensure that you are aware of your obligations under health and safety legislation and that these are communicated to all consultants and relevant staff.

Ensure that you have a policy on what health and safety information must be sought from clients – sector specific health & safety requirements- when taking instructions and that this information is in line with any relevant guidance from the Health & Safety Executive.

Provide on-site supervision when hiring a large number of contractors for an extended period. provide a project manager or supervisor on site to supervise the contract workers.

The following internal and external checklists set out the kinds of issues which need to be considered:

Internal environment – Checklist
Regulatory approvals and registrations require constant maintenance and adequate resourcing.
It is also important to use technology for enabling active monitoring and screening to highlight potential items that warrant review. Such tools enhance awareness of firms’ day-to-day activities and help management to stay on top of regulatory obligations in each territory.

External environment – Checklist
Keeping up-to-date with regulatory and enforcement developments.
All regulatory information, changes, coverage of compliance breaches, enforcement actions and proposed future regulations, should be considered to ensure that senior managers fully understand the current and future regulatory landscape.

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