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Company employees, in particular members of the management, make numerous significant decisions in their (professional) daily routine which can often be a balancing act between risk-taking and (personal) liability risk. To sustainably avoid liability risks at both company and board level, the implementation and maintenance of a compliance management system is therefore necessary.
Nevertheless, it is imperative, not only for its implementation but also for the assessment of how great the entrepreneurial risk tolerance could be, that companies detect their own risk potentials with the help of a risk analysis (so-called compliance risk assessment) and to be explicitly familiar with this. The analysis of opportunities and risks is a core component of economic planning processes. In this context, it is crucial to be aware of the interdependencies between opportunities and risks at an early stage and thereby be able to incorporate them into the decision-making process in a structured manner. Moreover, individual risk factors interact with each other.
From a German legal perspective, the compliance risk assessment also has a liability-reducing component: Effective risk identification is always a sign that the company's management is adequately fulfilling its supervisory duties. This can, as a component of functioning CMS structures, sustainably avoid or at least reduce liability risks in companies and for executives (personally) and thereby contribute to the successful continuation of the company. This liability-relevant aspect not least emphasizes the necessity of carrying out a compliance risk assessment.
The systematic and integrated
of compliance risks carried out as part of the compliance risk assessment can be regarded as a basic prerequisite for the implementation and optimization of an effective Compliance Management System (CMS). In this respect, the compliance risk assessment is at the heart of every CMS.
An effective CMS that dynamically adapts to company- and industry-specific risks thus also includes a detailed compliance risk assessment that is specifically tailored to the company. Only with the help of a system that is intrinsically sound can any threatening
be identified at an early stage and countered with appropriate measures in order to be able to avert civil and criminal liability risks, together with the associated high fines and reputational damage, for the company and its managers, supervisory bodies and senior executives.
A compliance risk assessment basically consists of five successive phases and establishes a continuous cycle: Starting with (1) risk identification and (2) risk prioritization and risk assessment, this leads to (3) risk management followed by (4) risk monitoring and (5) risk reporting as the final step of the process.
Our lawyers support you in identifying risks and averting the resulting negative effects on your company, your reputation and your personal liability risks through (preventive) measures. By means of company-related measures such as
violations of laws and regulations can be systematically and manageably countered in acute cases.
For this purpose, we evaluate the status quo of your implemented Compliance Management System, both as an overall concept or in the context of selected components, in order to integrate measures that are specifically tailored to meet the needs of your company.
Would you like to conduct a risk analysis? Are you looking for support for the risk management of your organization in Germany? Your contact persons are:
Please feel free to contact us. The easiest way to reach us is by e-mail (info@winheller.com) or by telephone (+49 69 76 75 77 80).