4.4 What are the indicators telling us?

This is the evaluation stage, where you determine the extent to which the compliance strategies have been effective in achieving the success goals and desired outcomes.

It occurs after the strategies have been implemented and, depending on the evaluation plan, will need to be undertaken over the immediate, intermediate and long terms.

  • Collect, record and analyse the data and convert it into information which will help make informed decisions.
  • Consider attribution issues to determine how much of the impact or effect is due to your compliance strategies, and how much is due to other factors.
  • Record and understand any assumptions and inferences made.
  • Consider the indicator results individually and collectively and what they mean - look for changes in compliance behaviour and community confidence.
  • Consider whether there are unintended consequences; and, if any, their extent - it may be necessary to adapt your approach or start afresh with applying the methodology.
  • The focus is on painting a defensible picture overall about what has changed as a result of your compliance strategies and whether the actual outcomes align with the desired outcomes.
  • Where appropriate, explain why desired outcomes were not achieved - this will help identify improvements for future strategies, such as changing the mix of strategies.
  • Ensure that the views of the business and risk experts agree with the analysis.
  • Document and report the findings to your business line executive or Risk Management Committee.
  • Your findings and the lessons learned will be used to inform future planning processes and improve our compliance approaches.
Last modified: 19 Jan 2015QC 21200