BSBCOM603 -Assessment2

Plan and establish compliance management systems

BSBCOM603

Assessment task 2

Charity Care Implementation planning

1.Compliance management system

A management information system (MIS) focuses on the management of information systems to provide efficiency and effectiveness of strategic . The concept may include systems termed , , , or . The term is often used in the academic study of businesses and has connections with other areas, such as , , , and ; as a result, the term is used interchangeably with some of these areas.

The Compliance Management System

The Charity-Care has the following components:

• A formal compliance program that includes detailed written policies and procedures set forth in a flexible structure that allows for revision and updating as risks evolve and/or are identified;• Regular, specific and comprehensive employee, officer and director training that addresses all aspect of consumer financial protection laws;• Board and management oversight of the creation of the compliance function, approval of compliance policies, selection of the compliance officer, and routine review of the company’s compliance status;• Organized and risk-focused internal controls that include frequent and ongoing internal monitoring, oversight, independent testing, compliance auditing, recording of results, and the reporting of results to the management and board such that compliance issues are self-identified and corrective action self-initiated;• Recordkeeping and review.A CMS should be integrated into the overarching framework of the institution and applied to the entire product and service lifecycle (including product development, design, delivery, administration, and marketing practices).

2.Personnel

Personnel requirements

The Charity-Care owner should base the firm’s personnel policies on explicit, well-proven principles. Small businesses that follow these principles have higher performance and growth rates than those that do not follow them. The most important of these principles are

All positions should be filled with people who are both willing and able to do the job.

The more accurate and realistic the specifications of and skill requirements for each job, the more likely it is that workers will be matched to the right job and, therefore, be more competent in that job.

A written job description and definition are the keys to communicating job expectations to people. Do the best job the can! is terrible job guidance.

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is terrible job guidance.

Employees chosen on the basis of the best person available are more effective than those chosen on the basis of friendship or expediency.

If specific job expectations are clearly spelled out, and if performance appraisals are based on these expectations, performance is higher. Also, employee training results in higher performance if it is based on measurable learning objectives.

The first step in assessing personnel needs for the small business is to conduct an audit of future personnel needs. Ask theself

Can the workload the visualize be accomplished by the present work force. Will more or fewer employees be needed. Consider seasonal patterns of demand and probable turnover rates.

Can any jobs be eliminated to free people for other work.

What balance of full-time or part-time, temporary or permanent, hourly or salaried personnel do the need.

What does the labor supply look like in the future.

Will the be able to fill some of the jobs the‘ve identified? How easily.

What qualifications are needed in the personnel.

Select suitable personnel

The Charity-Care have to follow this step:

Interviewing

The purpose of an interview is to elicit information from an applicant to determine his or her ability to perform the job. Successful interviewers learn how to ask the right kind of questions, how to keep the applicant talking about relevant information, and how to listen.

Much of what is learned about applicants in an interview is based on their past experience. Past performance is our best indicator of future performance. This does not mean that someone who had performed poorly in the past cannot improve in skills and attitude. Generally, however, the can see a trend in performance through several jobs or assignments. Sometimes interviewers assume that a candidate who has done something has done it well or that longevity on a position is a sign of success. These are not well founded assumptions! A reference check can verify the quality of the work performance.

Non-Directive and Directive Questions

How to phrase a question can affect the type and amount of information we get from the candidate. The main characteristic of non-directive questions is that they do not give the applicant any indication of the desired answer. Structurally, the questions are in the news reporter’s style of who, what, when, where and how. Often they begin with the words “describe” or “explain”.

We may need to ask follow-up questions if the responses to the questions are unclear or incomplete. Clarify and verify any piece of information we do not understand by asking the candidate to explain his or her answer again or to elaborate on the given answer.

Directive questions are useful for drawing out specific information. In direct questioning, the interviewer asks, directs, or guides the applicant to specifics. Often, these questions result in…

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