Is it just me, or does it feel like this year is pretty “light” when it comes to new regulations? Now that by no means is a bad thing, it just feels a little weird compared to years past. I haven’t used a sports analogy in a while, but it feels like it is almost the “offseason” for us compliance folks. But those of you that follow professional football understand, that just because it is the offseason, doesn’t mean it is time to just kick up your feet in the sand until the next season comes around. As soon as the “Big Game” is over, these clubs will be working hard on improving their teams for next year through free agency, the draft, OTAs, and summer camp. That same type of mindset is how we as compliance professionals should approach this year.
Now is the perfect time to beef up our compliance protection. I remember one time when I was an in-house compliance manager and I was at a conference where someone asked, “What would you do if you could commit 100% of your time to your CMS?” My mind went nuts with all the things I could be doing to make our CMS stronger, but after spending a few minutes in paradise, I was brought back to reality when I got an email about a “world ending” issue back at the office. This might sound familiar to a few of you out there. So now I am going to ask you the question. What would you do if you were able to commit 100% of your time to your CMS?
So you may not be able to commit 100% of your time this year to your CMS, but I will bet my weight belt you have a little more time on your hands then you did last year. What can you focus on with that extra time? How can you improve the compliance system you have worked so hard to build? Although there may not be a lot of regulation changes to prepare for, the status of your CMS is the one constant you know your examiner will always be looking at. Now is the perfect time to hit the weights and pump it up.