Compliance Program to suit your needs

Estate agent businesses may establish a compliance program as a voluntary exercise or as part of an enforcement action by the regulator.

What is a compliance program?

A compliance program is the internal process applied by the estate agency office to assist it to:

  • Identify and reduce the risk of contravening relevant legislative requirements, internal policies and procedures and codes of conduct
  • Manage any breaches that may occur
  • Create a culture of compliance within the office.

 

Compliance programs are often used as part of Consumer Affairs Victoria’s and the Australian Competition and Consumer Commission’s enforcement activities and may require the estate agency to:

  • Appoint a senior director or manager with suitable qualifications or experience in compliance as a Compliance Officer
  • Appoint a compliance professional with experience with the relevant legislation as a Compliance Adviser to conduct a Risk Assessment to identify areas the estate agency is at risk of breaching, assess the likelihood of these risks and consequences to the estate agency business and operations should they occur, identify gaps in the estate agency’s existing procedures for managing these risks and providing recommendations to the estate agency
  • Develop and implement a compliance policy
  • Develop and implement a complaints handling system consistent with the relevant AS/ISO standard
  • Have the appropriate whistleblower protections mechanisms
  • Implement training programs
  • Establish appropriate monitoring and reporting processes.

 

Leveraging off over 15 years regulatory experience, the Apex HR team can work with estate agencies to implement effective compliance programs to satisfy regulator requirements, establish best practice and a culture of compliance in your operations.

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