Mountains in South Africa
As part of our regular activities, CiMN conducts benchmarking surveys and discussions which aim to share experiences and best practices of the member companies’ compliance activities and risks. Whistleblower hotline reporting was selected as the topic of the first benchmarking survey.
The discussion surrounding the survey resulted in a few key takeaways, including the involvement of other functions in managing hotline reports submitted on non-compliance-related topics. This involvement highlights the importance of relationships between compliance and gatekeeper functions and the utility of the hotline to those functions in addition to its traditional purpose.
Of additional value was the conversation around hotline data as a tool to enhance compliance communications, training and efforts within the business as a whole. Most commonly, reporting metrics and trends to company leadership and the board, as well as using anonymized examples of cases in training exercises were deemed to have a measurable benefit.
The next benchmarking exercise will cover third party onboarding and management.