Compliance Frequently Asked Questions
KFSH&RC has a comprehensive Compliance Management Framework made up of policies and processes. Learn more about these by reading our FAQs
Frequently Asked Questions
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What is a Compliance Obligation?
Compliance Obligations are requirements that arise from laws and regulations, strategic alliances and voluntary practices which KFSH&RC must comply with. These are recorded in a library/register – READ KFSH&RC Compliance Obligation Analysis Procedure
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What is a Compliance Owner?
Compliance Obligation Owner is a KFSH&RC individual/ department or business/service unit who is accountable for implementing controls and processes for the organization to be compliant with a Compliance Obligations – READ KFSH&RC Compliance Obligation Analysis Procedure
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What is the Compliance Assurance Program?
Compliance division conducts between 20-24 CARs each year to assess Department compliance with Legal and Policy obligations. If your Department is participating in a CAR – READ KFSHRC Procedure for Implementing a Compliance Assurance Program -
What is a Non-Compliance?
When a non-compliance has been identified, a Compliance Response Plan (CORPs) is initiated. The CORPs status is monitored. Delays in achieving compliance are escalated to executive management – READ KFSHRC Developing and implementing a Compliance Obligation Response Plan Procedure
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How does KFSH&RC Monitor Compliance?
An Compliance Plan is implemented each year which identifies new Obligations, sets out a schedule of CARS, and CORPs monitoring. Quarterly reports are submitted to the Chief Risk & Compliance Officer, CEO and BoD. Compliance escalation – READ KFSH&RC Compliance Escalation Policy
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How do I raise a Compliance concern?
To protect our organization, everyone at KFSH&RC has an obligation to promptly raise a compliance concern with your supervisor, other administrator in your department, or to report it. – CONTACT Compliance Division for a personal conversation, telephone or email EC_CPL@kfshrc.edu.sa