Risk Management and Regulatory Compliance (set up & recovery)

LOGBOOK - SNEKKJA -

Heading for Cape Compliance

Day Seven

Log

Harbours of Departure & Destination :

Audit of existing programmes & schemes in place from a tax and social security point of view (salary splits, net allowances, bonuses, stock incentives…) Reflect changes in existing legal documentation and internal communication (data privacy, harassment, severance terms…) Review of transportation reward programmes (abolish funding of car policy by bonus payments while keeping tax effectiveness, adapt allocation rules, introduce environment-friendly measures, propose alternative reward solutions through cafeteria plans…) Regulatory recovery initiatives related to remuneration schemes in place (negotiation with tax authorities in view of obtaining tax rulings. Adaptation of the pension plan in order to comply with the new local legal pension age. Adaptation of existing stock-incentive plans such as stock options, RSU, stock purchase…, to new tax compliance rules.)

Position, waypoints & ports of call :

Fragile balance between calculated risk taking and risk management, between compliance processes and bureaucrative inertia preventing the company to act and react quiclly on business issues or opportunities. Resistance to change. Lack of understanding and communication of compliance-related implications.

Weather forecast & potential hazards :

Speed & Compass Deviation :

12 months. Time to go through a complete audit process to check if recovery or set up is in place

Crew :

Snekkja, Executive Committee, Head of compliance, HRBP, HRM

< Back

< Back

Next >

Your Partnership in HR Transformation

Project Lead & Change Management

Copyright © SNEKKJA 2012

Copyright Photographs © V. & Armand Burguet 

All rights reserved