B.    Risk Assessment: 

To be effective, a compliance program should not be imposed on a company’s existing structure and culture, but rather should grow out of that structure and culture.  A program that is properly harmonized with a company’s unique culture, risk profile, and existing operational mechanisms will more quickly be absorbed into a company’s day-to-day operations as a natural part of doing business, which is the hallmark of the most effective compliance programs.  To achieve this result, the first step in designing the program is to perform what is commonly referred to as a risk assessment.  The risk assessment can also be thought of as a company compliance profile  it brings together the factors that inform choices in program design, such as company management style, geographic scope, size, and product characteristics.  Without such a profile in mind at the outset, it will be very difficult to design a program that has a strong likelihood of success in any company.

See Risk Assessment: Building A Company Profile Manager’s Guide for guidance in developing a checklist or compliance program questionnaire.