7 StepsTo building an effective social media compliance program

1. Create a clear governance structure

Helps answer the questions: “Why are we doing this and what do we hope to gain from doing it?”

2. Set good policy and procedures

Makes obeying laws and regulations such as privacy, prohibitions against unfair, deceptive or abusive practices, and rules on advertising easier.

3. Follow a due diligence process for handling outsourcers

Especially important in dealing with those sources outside the company responsible for developing or placing content.

4. Design an employee training program

Draft the institution's policies and procedures for official, work-related use of social media and unacceptable activities or employee conduct.

5. Develop an oversight process

Answer key questions such as: “Who will review content before it’s posted? Who has permission to publish content and through what apps? Who will respond to complaints about content?”

Maintain compliance with not only internal policies, but also all outside laws, regulations and guidance.

6. Establish audit and compliance functions

7. Report periodically to the Board

The company’s Board of Directors or senior management should help monitor the effectiveness of the program and whether or not it’s meeting its goals.

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Want help with your social media compliance?

“Seven Components of an Effective Social Media Risk Compliance Program” by Leslie Paul Machado, Corporate Compliance Insights: http://www.corporatecomplianceinsights.com/seven-components-of-an-effective-social-media-risk-compliance-program/.