An off-topic spot to chat about your musings of the day

Potential Consequences of Noncompliance

Reply
Occasional Contributor
Posts: 13

Potential Consequences of Noncompliance

[ Edited ]

As part of my MS in Analytics program, I had an opportunity to discuss the potential consequences of noncompliance with confidentiality, ethics, and corporate policy as a data analytics professional. I chose the example of consequences to noncompliance to a corporate policy for financial professionals.

 

Per Anonymous (n.d.) Digimarc document referenced, it is clear from section XIII. disciplinary procedures that “consequences for violation include counseling, warnings, oral or written reprimands, probation, reduction in compensation or suspension without pay, demotions, suspension, termination of employment, and restitution."

 

In addition to the violator, others who are involved in wrongdoing will be subject to the same disciplinary procedure as mentioned above. In the same document, the company provides an opportunity for employees to report potential violations.

 

Such disciplinary measures are implemented in most companies to enforce compliance to confidential information, ethics, and corporate policies. Similarly, when an employee starts working for an organization, during the initial period, nondisclosure / confidentiality agreements, ethics policies and such are reviewed by company officers with new employee and evidence of review is recorded and retained by the organization.

 

In some cases, in several organizations, legal consequences to violations are reviewed by company attorneys (customer data, employee data, financial data as it relates to organizations) in the presence of human resource professionals to enforce formality and the seriousness of the conduct of business. As data professionals, it is imperative for us to ethically, legally, and socially uphold the agreements that we have signed with the employer.

 

Reference:

Anonymous (n.d.) Code of Ethics for financial personnel-A message to employees

https://www.digimarc.com/docs/default-source/company-resources/corporate-governance/codes-of-conduct...

This widget could not be displayed.
This widget could not be displayed.
Ask a Question
Discussion stats
  • 0 replies
  • 50 views
  • 0 likes
  • 1 in conversation