Compliance, Risk Management, Licensing
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Transcript of Compliance, Risk Management, Licensing
On-Demand Compliance
In control every step of the way
Whole-of-Business
Engagement
Automated
Workflow & Reporting
Self Service
Portal
Audits AssessmentsNotifications
Embrace the Enterprise
Shared duty of care
WorkflowManagement
Site Managers
Employees
Vendors
Contractors
Regulators
Customers
Self Service Portal
• Single point of access• Secure, data-aware login• Decentralised User Administration• Configurable access to portal functions• Users only need to do and see what they need• Designed for inbound and outbound compliance
Interactive Forms and Questionnaires with Regulatory Intelligence
Set up the Content
• Scheduled• Self-Served
Create
• Respond• Attach
Submit • Review• Evaluate
Review
• Modify• Upload
Refine • Finalise• Report
Approve
Control the Process
Secure data management
Report the Results
Hands-off automated compliance
Day 2
Welcome to the
iComply User Forum 2010
Compliance Trends
Tony Stephenson Director
Compliance TrendsThe role of risk management is still a mystery for most businesses. As executives and board members weave it into their corporate strategy and practices, they will look for ways it can improve their bottom line as well.
Forrester Research
Risk management will increasingly consider third parties and industry issues. Recent failures in the financial sector as well as in retail, food and drug, and other industries have demonstrated clearly that an internal view of risk management is woefully incomplete. The growing connection of businesses through supply chain and sourcing relationships will not be ignored in 2010, which means compliance and risk professionals will be expected to have tighter oversight and control over external aspects of the organization.
Corporate Integrity
The Risky Nature of the Extended Enterprise
• Organizational complexity• Fuzzy boundaries• The struggle to identify,
manage and control GRC• Business relationship life cycle
Extended Business Relationships
• Supply chain• Value chain• Vendors• Service providers• Outsourcers• Contractors
• Operational risks• Regulatory compliance• Environmental and emissions• Geo-political• Health and safety• Import and export• International labour standards• Quality• Security• Supply-chain risks
Ultimately, Your Reputation and Brand are at Risk
Risk and Compliance Issues
An Unseen Problem
• Risk is only considered during relationship acquisitiono Life Cycle risks are ignored
So often organizations look at the surface of a relationship and fail to foresee issues that can cascade, causing severe damageto reputation and exposure to legal and operational risks.
• Partner performance evaluations neglect risko Metrics are focused on vendor delivery of products and
services
•Issue Notification & Reporting
•Issue Management•Collaboration
•Surveillance Planning•Code of conduct compliance reviews
•Risk and Performance Validation
• Risk intelligence & Monitoring
• Risk Assessment• KRI Reporting• Alerts
• Real time regulatory intelligence
• Renewal management
• Managed compliance self-assessment
• Attestation Compliance Monitoring & Management
Risk Monitoring & Management
Issue Management
Auditing & Assessment
• Baseline Assessment and Ranking
• Contract Execution• Code of Conduct Attestation• Policies and Procedures
Relationship Acquisition
Relationship Life-Cycle
Roadmap to Extended Enterprise Risk Management
• Policies and procedures
An organization can face reputation and economic disaster by establishing ormaintaining the wrong business relationships
• Build the Team
• Risk criteria• Re-evaluate and re-engage• Ongoing monitoring and reporting across the life-cycle
Key Success Factors• Ownership and accountability
• Actively monitor all business partners for:o Adherence to code-of-conduct standards and key regulatory
policieso Changes in risk profile based on targeted risk assessments
• Manage the baseline and ongoing assessment processes
• Streamline the process• Manage the issues• Use verifiable evidence to readily attest to “in compliance” and
“in control” status
Licensing ModelsUser based
Up Front
Capital Spend
Few Users, many audits
Audit based
PAY as you Go
Revenue Spend
Few Audits, many users
• Intro• Flexibility• Road Map• Demo• Group discussion
iAppraise Risk Management