Top KPIs for Compliance Department
1.Compliance Training Completion Rate: Measures the percentage of employees who have completed mandatory compliance training, indicating the organization’s commitment to compliance.
2.Number of Compliance Incidents: Tracks the number of times the organization failed to comply with legal, regulatory, or internal standards, indicating risk management effectiveness.
3.Audit Findings Resolution Rate: The rate at which audit findings or discrepancies are resolved, indicating the responsiveness and effectiveness of the compliance program.
4.Regulatory Submission Timeliness: Measures adherence to deadlines for submissions to regulatory bodies, indicating operational efficiency and compliance.
5.Compliance Cost as a Percentage of Revenue: The cost of compliance activities relative to total revenue, indicating the financial impact of compliance efforts.
6.Risk Assessment Completeness: Assesses whether all critical areas of the business have been covered in risk assessments, indicating thoroughness of risk management processes.
7.Third-party Compliance Rate: Measures the compliance of third-party vendors and partners with the organization’s standards and regulatory requirements.
8.Data Privacy Breaches: Tracks the number of breaches involving sensitive or personal data, indicating the effectiveness of data protection measures.
9.Legal and Regulatory Fine Amount: The total amount of fines incurred for non-compliance, indicating the financial risk exposure from compliance failures.
10.Percentage of Operations Reviewed for Compliance: Measures the scope of compliance reviews within the organization, indicating the breadth of the compliance efforts.