This week Eric tackles what “monitoring” means in the context of a compliance and ethics program. We break it down into three main concepts. First, applying a “risk-based” process to monitoring means understanding your risks, applying those controls you have (including monitoring) and then evaluating those controls for effectiveness. Second, Eric spends a little time talking about the processes, tools and systems that generally comprise compliance monitoring. Finally, Eric talks about the important “feedback loop” of monitoring data that helps an organization spot trends and issues and improve their monitoring — and their entire program.