How to Build a Long-Term Compliance Strategy: Sally Savoia’s Strategic Advice

In today’s ever-evolving regulatory landscape, building a long-term compliance strategy is essential for organizations aiming to maintain integrity and avoid costly penalties. Sally Savoia, based in London, has developed a forward-thinking approach to compliance that helps businesses stay ahead of the curve while fostering a strong internal culture of accountability. Her insights are invaluable for businesses in the city and beyond, offering practical steps for creating sustainable compliance frameworks.

Emphasize Adaptability in Your Compliance Program

One of Savoia’s key principles for building a long-term compliance strategy is adaptability. As regulations continue to shift across various industries, she emphasizes that businesses must be agile in their approach. “Compliance isn't static—it needs to grow with your organization and the regulatory environment,” she explains. Companies must regularly assess their policies and adjust them as new rules emerge, both locally in London and internationally.

Staying adaptable involves ongoing monitoring of regulatory updates, as well as conducting internal audits to ensure all departments are aligned with compliance objectives. Savoia advises organizations to develop a robust mechanism for tracking changes in relevant laws, such as GDPR in Europe or evolving financial regulations in the UK, ensuring that compliance efforts are always up-to-date.

Foster a Culture of Compliance

Creating a culture of compliance is another cornerstone of Savoia’s strategic advice. Compliance cannot simply be the responsibility of a few individuals within the organization; it must be embedded in the company’s DNA. Savoia believes that everyone, from senior leadership to entry-level employees, should understand the importance of compliance.

She encourages organizations to integrate compliance training into regular business activities. This involves not only educating staff on existing policies but also fostering an open environment where employees feel comfortable raising concerns about potential risks. Savoia explains, “Empowering your team to take ownership of compliance efforts helps build a sustainable, long-term culture where everyone feels responsible for upholding standards.”

In a city like London, where industries such as finance, tech, and healthcare face rigorous regulations, fostering this culture is crucial for businesses to thrive without risking penalties or reputational damage.

Integrate Technology into Compliance Efforts

Savoia is a strong advocate for leveraging technology to support long-term compliance. With the rapid advancement of digital tools, businesses can now automate many compliance processes, reducing human error and increasing efficiency. She notes, “Technology can help streamline complex compliance tasks and ensure your organization stays on top of regulatory requirements.”

In London, where global companies operate across borders and jurisdictions, technology can also help manage different regulatory frameworks more effectively. By using compliance management software, companies can track obligations in real-time, ensuring they meet both local and international standards. Additionally, automated reporting tools can make it easier to demonstrate compliance to regulators during audits.

Build Strong Relationships with Regulators

Savoia stresses the importance of building strong relationships with regulators as part of a long-term compliance strategy. “It’s not just about meeting regulatory demands; it’s about engaging in open dialogue with regulators to better understand their expectations,” she says. Maintaining transparent and proactive communication with regulators can help businesses stay compliant while avoiding potential conflicts or misunderstandings.

In London, where the financial industry plays a dominant role, building strong ties with regulatory bodies such as the Financial Conduct Authority (FCA) is particularly crucial. Savoia advises companies to regularly engage with regulators through consultations, meetings, and industry forums, allowing them to stay informed on emerging trends and expectations.

Regularly Review and Update Compliance Frameworks

Finally, Savoia emphasizes the need for continuous review and updating of compliance frameworks. “Your compliance strategy should evolve as your business grows and the external environment changes,” she explains. Regularly revisiting compliance policies ensures they remain relevant and effective in mitigating risks.

In dynamic cities like London, where regulations frequently change, businesses must stay ahead by conducting annual or even bi-annual reviews of their compliance frameworks. Savoia advises that organizations should involve legal experts and compliance officers in these reviews to ensure that the latest regulations are incorporated and that the company’s policies continue to align with its operational goals.