CCEP Compliance and Ethics Professional Exam 2024 passed

CCEP Compliance and Ethics Professional Exam These Compliance and Ethics Policies and procedures must exist - correct answer Non-Retaliation, Record Management, Conflict of Interest, Privacy, Security, and Confidentiality What are Compliance Officers required to do? - correct answer Maintain Compliance and Ethics polices and procedures When making decisions, C.O. need to.... - correct answer Consult with appropriate subject matter resources, HR, legal, finance A main goal of compliance program: - correct answer Assure Alignment between organization's mission, vision, values, and the code of conduct A main goal of compliance program is... - correct answer to assure alignment of the compliance and ethics strategic plan is consistent with overall business objectives. A requirement for compliance program is... - correct answer to maintain a code of conduct C.O. needs to ensure what? - correct answer Ensure organizational value statements reflect a committment to a culture of integrity What else does a CO ensure? - correct answer The policies and procedures address regulatory and legal requirements. Policies need to address what? - correct answer Interactions/relationships with third-parties, like vendors, business partners, and competitors What else is required in relation to third-parties? - correct answer That contractual agreements include compliance and ethic standards. What documentation is required of a compliance plan? - correct answer That the program is documented, like a compliance manual/outlined plan. What else will a compliance program document in regards to risks? - correct answer That policies and procedures around specific identified risk area are maintained. What will a compliance program document in regards to governance policies? - correct answer That the governance policies for the compliance and ethics program are maintained. Who does a Compliance Officer report to? - correct answer A board of directors, or audit committee What does a compliance officer report and to whom? - correct answer Reports compliance and ethics activity to the internal governing body, like a board of directors/audit committee Who else does a compliance officer report to? - correct answer Gives reports of compliance and ethics activity to the senior business leader, like the CEO or CFO What does the CO coordinate inside the organization? - correct answer Coordinates the operational aspects of the compliance program with management, like oversight committee and senior managment. Benchmarking - correct answer Collaborate with others internally and externally to institute best practices: what are others doing in their program? What is the CO responsible for in regards to goals of oversight committee? - correct answer To ensure the goals and objectives of the oversight committee are achieved. What knowledge is needed? - correct answer Maintain knowledge of relevant laws and regulations