Homework Writing Help on Custom Compliance Manager Interview

Custom Compliance Manager Interview

  1. Background information on the compliances as a business function

Following the changes in business operations, it becomes an obligation for an independent corporate monitoring team to access, through interviews or any other appropriate means, the effectiveness of the corporate compliance. In this pursuit, a company’s employees and other staff members have proven vital as the most reliable assessment tools (Lori). Added to the fact that corporate compliance is an area that can never be ignored when it comes to process monitoring, this interview is important since it is conducted to determine whether organizational compliance and ethical programs are followed during business functions.

Under the US sentencing guidelines, businesses are supposed to take reasonable steps in ensuring that their compliance programs such as monitoring and regular auditing to determine criminal conducts are followed as well as constantly evaluating the effectiveness of the business compliance and ethical functions (Lori). Similar interviews have been conducted in the past, and their incorporation in Academy Sports and Outdoors would improve the work relationship between managers and other staff members.

The result of the interview showed that the interviewee had relevant information concerning the websites that have information about compliance in business. The interviewee also seemed to be aware of compliance as an emerging are of profession with significance attached to quality training and certification. Even though the interviewee was in a position to make it clear that his company lacks a compliance officer or a professional, the employees in the company understand the core business functions, and therefore engage in compliance activities in their respective areas of operation.

From the information gathered, it became clear that as an area of profession, compliance provides an ethical tone that can be used by the organization’s managers to influence employees’ perceptions about fairness and equality within the work environment (Michael). It was also possible to determine some specific roles like making the organizational policies accessible to all employees in a way that they can easily be understood and applied, ensuring that all the violations are treated fairly and equally as well as maintaining better relationships through credible programs.

Just like in any other industry, the above functions are critical to the performance of the industry since they put the academy at a better operational position (Michael). Specifically, fairness and equality are the most dominant facts that can see an organization meet its long-term performance objectives. Without proper compliance programs, the chances of fallout are very high and this is disastrous when it comes to process fulfilment. Contemporary issues in business operations require quality programs that will ensure fair treatment of criminals and ethical violators (Michael). Currently, legal business environments compel organizations to reiterate and reinforce employee’s understanding through training of the risks attached and policies governing their relationship with other stakeholders.

  1. Brief Overview of the Interviewee’s Industry

Academy Sports and Outdoors operates as the one of the largest discount chains retailing sport goods across different markets in USA. The company operates as a supplier of sport wares, extensively engaging in production of new-brand equipment like clothing and shoes for competitive sport activities (Stephen). Apart from the physical goods, the academy provides subsidiary services like training for physical fitness as well as providing outdoor recreational activities like fishing, boating and camping. With the numerous superstores in town operating as outlets for clothing and shoes, the Academy Sports and Outdoors falls under the major category clothing industry (Stephen). Through the Hazardous product Act, the US government establishes the need for the clothing industry to be responsible and ensure provision of safe products. The regulation also focuses on strengthening enforcement authorities in order to enhance information supply to the public (decision-makers). In all the sales outlets, the industry through existing companies must improve the safety and quality of products, maintain proper records, and institute mandatory reporting.

The regulations governing the operations of Academy Sports and Outdoors stem from two main agencies. One is the Occupational Safety and Health Administration agency that ensures maintenance of proper business relations within the USA. Another is the Department of Human Services and Education whose main role was to ensure that the training programs offered at various institutions or during job placement have impacts on the available workforce (Michael).  

Apart from the mentioned regulatory departments, the company adjusts its regulatory efforts, commissioned by the SRO regulation actions to influence the development of roles and responsibilities of every employee. The company’s compliance is supervised in relation to specific sections of the Security Exchange Act of 1934, which has undergone several amendments to meet current business functions. In pursuant to section 12-sub article (a) of the SEA, the management of the company has a supervisory role to ensure compliance to the business functions. It is true that the compliance regulations allow the department of Justice to determine whether or not a company has its compliance programs in place, and whether such programs are adequately designed to protect or detect malpractices in the company.

The Academy Sports and Outdoors Compliance manager identified the Sentence Guideline Manual as enforced by the Department of Justice to have foreseeable impacts on the company’s operations. The regulation require the academy to act with diligence in detecting and preventing criminal conducts, promote an organizational culture with a foundation on ethics and individual commitments to comply with the law.   

  1. Interviewee’s Job Title, Basic Responsibilities including Compliance Activities

The interviewee is known for his position in the academy as the Compliance Operation Manager, and his responsibilities are according to the principles of the Sentence and Guideline Manual (Stephen). The manager’s roles are bound by the fact that he works like a reprehensive of the Department of Justice in order to create order through diligence alongside maintaining proper protection for the business assets. As already stated the Sentence and guideline Manual compels the company management to remain sensitive to the business operations, act cautiously to provide proper protection to the company’s assets as well as giving training services to employees on the best approaches they can use to protect themselves in case of danger.

  • Providing regulatory and compliance advices to the entire business and its control units with in order to link the performance of the different retail stores across USA.
  • Taking the front position in responding to issues as they emerge and proactively ensuring that the business is able to appraise its regulatory developments alongside the changes in industry policies.
  • Staying close to the academy and its business operations for easy monitoring of the activities and also to advice, or personally address some the rising problems due to non-compliance of the employees and other staff members.
  • Keeping regular contact with the academy’s supervisory personnel and providing the business unit with advices on transactions before their execution.
  • Fostering compliance-training programs and keeping employees and other managers abreast of the changes in business systems and regulatory requirements.

The interviewee’s roles as the compliance manager have changed significantly over the past 10 years due to changes in State regulatory requirements and business trends. The new business environment now focuses on the incorporation of technology in areas of training, monitoring, and in detection of malpractices within the business premises (Ray). Factor such as cyber terrorism and cyber-attack have compelled the manager to remain vigilant, taking a longer time in the company premises than before. In fact, the compliance roles of the manager have doubled forcing him to increase the amount of time he spends in the office.  

  1. Compliance Program

From the interview, it became clear that the company has its formal compliance programs and a compliance officer. The company today works on a simple program of helping its associates and employees to save money so that they can live a better life (Ray). In this context, the company works on a foundation of personal integrity with acute implementation of several enhancements that can make the business achieve its global objectives. The compliance officer is highly trained, has a wider understanding of compliance regulations, company policies, procedures and safety rules.

The manager has a proper mastery of US customs and programs and has in several occasions traded in partnership against terrorism. According to the interviewee, the ethical climate of the business is corresponds to the regulatory policies of higher compliance. The company through its safety measures ensures that workers and all other stakeholders get the best services (Ray). The interviewee maintains his stand on the importance of law and ethics in areas of business operations. The law and ethics are some of the guiding principles used to ensure equality and fairness in business operations. For the company, law and ethics work as one regulatory component in creating sanity in business operations, and because compliance programs have close relations with ethical programs, there is a possibility that their implementation is never detached from the implementation of formal laws.

  1.  Keeping Current on Regulatory Change

The Academy Sports and Outdoor company laws and regulations governing its operations have over the past decade been changing in line with the market operations. The laws and regulations at the Academy Sports and Outdoor are much flexible depending on the set supervisory and regulatory procedure (Ray). Specified regulatory changes governing all the supervisory techniques and structures that are set against the background of universal obligations for establishments conform to the valid regulatory changes. The personnel at the Academy Sports and Outdoor must ensure they are appraised with the any regulatory changes to prevent any misunderstanding. Frequent visits to the company’s websites and notice boards are pivotal in remaining updated on the specified supervisory and regulatory changes (Ray).        

In a situation where the company has introduced some stringent regulatory procedure, appropriated trainings are offered to the personnel to keep appraise with the new laws and codes of conduct. Similarly, the Academy Sports and Outdoor offers regulatory guidance to its personnel to avoid instances of non-compliance, and hence prevents and controls risk factors from becoming a reality.    

  1. Interviewee’s Opinion about Regulations

The Compliance Department at the Academy Sports and Outdoor is a crucial contact point with the firm’s regulators and responds well to regulatory investigations and inspections. Such regulatory activities may entail thorough documents and files reviewing to determine the socio-economic position of the firm. The Compliance Department then arranges meetings with the company workforce to analyze and discuss the potential results from such regulatory processes. A robust Compliance Department at the Academy Sports and Outdoor firm should have a viable relation with the regulators to assist in shaping the company’s regulatory policies. The regulators must adhere to the company’s laid regulation laws to help them identify the potential hiccups in the operational structure of the firm. As a result, the potential risk factors are identified and approachable recommendations for suitable actions by the business establishment are put forth.

Notably, the compliance activities at the Academy Sports and Outdoor firm are above par and with continued cooperation and support from the top management, the trend is bound to continue in the next two years (Stephen). However, with the ever-changing business environment and the need to attain and maintain a competitive advantage, the compliance and regulatory processes will have to be revamped in the end. As a compliance specialist, and with the sole decision on compliance and regulatory policies, the aim will be to foster a regulatory relationship with the regulators. Designing and shaping the company’s regulatory laws to comply with the current market trends will be top priority (Stephen). Through setting and stimulating a culture of compliance in the establishment and by prioritizing regulatory goals and objectives, the company can effectively police itself. This will ultimately replace the complex regulatory processes offered by the government that are time consuming and cost ineffective (Stephen). This is only possible once a strong culture of compliance and regulatory adherence are fostered at the Academy Sports and Outdoor business entity.

  1. Student’s Opinion on Compliance Activities

Compliance activities in any viable company like the Academy Sports and Outdoor are crucial in achieving the set goals and objectives. For instance, it is the role of the Compliance Department to survey any potentially suspicious client transaction patterns to prevent any form of money laundering but with strict adherence to the laid privacy policies of the firm. The administration of licenses and registration compliances are sole functions that the Academy Sports and Outdoor cannot operate without (Stephen). Such activities performed by the Compliance Department insist on advisory and disciplinary issues arising in the company and assist in personnel registration procedures. Most of the internal audits and inquiries are the direct responsibility of the Compliance Department, and are tasked with designing appropriate legal backups when need arises.

Notably, an efficient Compliance program at the Academy Sports and Outdoor establishment must be flexible to continuous reviewing and updating to comply with the company’s policies and procedures in conducting their daily transactions. For instance, in a situation where new regulatory policies are introduced in the Academy Sports and Outdoor firm, the Compliance Department must kept appraised of the new changes to access then assess the company’ policies and procedures (Stephen). The Compliance Department evaluates such proposed changes to determine their short and long-term impacts on the business operations. All activities in the Academy Sports and Outdoor must be reasonable and in compliance with the pertinent rules and codes of practice. Academy Sports and Outdoor should, therefore endeavor to ascertain and implement the firm’s best practices in line with the set compliance activities.          

As a career objective, ensuring that the Academy Sports and Outdoor establishment has workable systems of internal controls adequately measuring and managing potential risks is top priority. As a compliance specialist, the provision of internal compliance services to support the establishment to conform to the relevant rules and conventions are prerequisites. With full awareness on the potential repercussions associated with non-compliance and even a possible career loss, diligence and commitment are top priorities.                            

At the Academy Sports and Outdoor, compliance remains crucial in their business operations and achieving a competitive market advantage. The compliance personnel are directly responsible for the delivery of the company’s strategies and in achieving the set goals (Kristi). Working as a compliance specialist is a wonderful of gaining technical expertise and experience on the operations of the Academy Sports and Outdoor Company. In the corporate governance, compliance activities play the second line of defense, as it is responsible and accountable for company’s general progress. Similarly, the Compliance Department is tasked with directly assessing the company’s operational records to determine viability, and to control and mitigate any potential risk (Kristi). They then strategize and implement appropriate controls in protecting the Academy Sports and Outdoor from such risks. Correspondingly, the Compliance Department monitors and reports the effectiveness of the appropriated controls to detect any hiccup in the operational structures (Kristi). The Compliance Department must then liaise with the management advising them on the best course of actions. The level and degree of regulatory and supervisory compliance at the Academy Sports and Outdoor is necessary in ensuring survival and relevance in the ever-changing business environment (Kristi). Therefore, given the level of commitment and diligence a career in compliance demands, a career in this field best suits my core values and objectives and will consider pursuing the same in the near future .               

Works cited

Lori A. Richards. Director: Office of Compliance Inspections and Examinations, U.S. Securities and Exchange Commission, Address at the Spring Compliance Conference: National Regulatory Services, the Culture of Compliance, 2003.

Kristi Holder. Office of Compliance Inspections and Examinations, Academy Sports and Outdoors: Keynote Address in an Interview, April 8, 2015.

Michael Balale. NYSE Wants Quarterly Compliance Meetings with Big Firms, Compliance Reporter. 2005.

Ray Vass, The Compliance Officer in Today’s Regulatory Environment, Practicing Law Institute: Corporate Law and Practice Course Handbook Series, Broker-Dealer Institute. 1987.

Stephen M. Cutler. Division of Enforcement: U.S. Securities and Exchange Commission, Address at the Second Annual General Counsel Roundtable, Tone at the Top: Getting it Right. 2004.