Keeping up with compliance regulations can be daunting for any business – especially in the telecommunications industry for outbound sales and lead generation. Contact center managers reaching out to consumers know there’s a gauntlet of regulations to comply with.
But what should you be doing to proactively manage regulatory compliance – and when and how often?
In this GUEST post by the compliance experts at law firm of Mac Murray & Shuster LLP, you’ll find a simple guide summarizing key tasks to manage compliance throughout the year. This checklist calendar points to the general periodic tasks to keep up by month, quarter, year.
While working with legal counsel to determine what is best for your company to stay in regulatory compliance, you need to be aware of the basic requirements and the frequency with which they need your attention. Having an overview checklist can help clarify your compliance management program so you can minimize risks of unintentionally being in noncompliant.
Use this calendar checklist to add to your current compliance task list or to build out a customized list that includes industry and state specific regulations.
to help you manage compliance throughout the year.
Proactively Managing Regulatory Compliance
A Monthly, Quarterly, and Annual Checklist for Your Organization
by Mac Murray & Shuster LLP
Maintaining compliance with important privacy and other consumer protection regulations is not something you can afford to set and forget.
If your business engages directly with consumers, or supports other businesses that do, there are specific compliance-focused tasks that should be part of your ongoing operations. It’s critical to stay on top of these tasks, since violations and oversights not only risk steep penalties, but can also damage your company’s reputation. This holds true whether you are a small organization or a Fortune 500 enterprise with a sophisticated compliance department.
How to Stay on Top of Regulatory Requirements
Smart organizations strive to stay ahead of the curve by scheduling recurring tasks into their monthly, quarterly, and annual plans. Here are important steps every compliance-focused business should take, and when you should take them. By focusing on compliance regularly, you are proactively mitigating potential risk.
Monthly Compliance Tasks
Some high-priority compliance-related tasks require attention each month, since these tend to be related to automated or customer-generated events. Monthly tasks include things like:
- Reviewing customer complaints to identify specific issues that require immediate attention or trends that could point to larger problems that need remediation.
- Meeting with executive management to keep them informed and to ensure continued integration of compliance initiatives with overarching strategy and operations.
- Scrubbing and updating contact lists to maintain adherence to Do Not Call registries unless an exemption applies (for telemarketers).
Quarterly Compliance Tasks
Other tasks can be completed on a quarterly basis. These will be bigger, broader initiatives within your organization. Quarterly compliance tasks will include things like:
- Conducting an internal audit of your organization’s compliance with its existing policies.
- Working with your legal counsel to understand the latest regulatory developments and their impact on your business.
- Keeping your employees up to date with ongoing compliance training.
Annual Compliance Tasks
Some big-picture compliance tasks should be revisited on a yearly basis, adjusted as needed, and communicated across your organization as appropriate. These annual tasks may trickle down to affect the things you do monthly and quarterly. These include items like:
- Reviewing and updating your internal compliance policies to meet current compliance legislation.
- Conducting a data breach preparation exercise.
- Obtaining an external audit by qualified counsel to validate your organization’s compliance success over the past year and begin the new year on the right foot.
Compliance issues can feel overwhelming if you’re not sure where to begin. The size of your organization and the focus of your business will influence the regulatory complexity you’ll need to consider, but a great way to ensure compliance across the board is to engage qualified and experienced legal counsel. Look for a firm with attorneys who’ve either served with regulatory agencies themselves, or who have many years of experience navigating this ever-changing landscape with clients.
Questions? Looking for guidance specific to your business? Email the author: email@example.com
The fine print: Remember that every legal situation is different. While we think the guidance we’ve shared here is spot on, we always recommend consulting with your attorney for counsel tailored to your business’s unique circumstances.