Creating Standard Compliance Procedures for Automation

People Dependency Challenges

There are lots of good reasons why you don’t want to rely too heavily just on the professionalism and dedication of your key role-players in the regulatory compliance area of your company to drive what needs to be done to achieve an acceptable level of compliance and to limit your regulatory risk. This is because the regulatory risk landscape we have seen our clients grapple with over the past two decades has become far too complex with far too much room for human error.

Harnessing Technology

Unless companies harness the power of technology to help simplify the management of this landscape, there is going to be a growing risk of things being overlooked with the potential of damaging consequences.

Plan-Action-Review-Attest Compliance Monitoring

We advocate the automation of many of the tasks that make up a company’s compliance framework. Our model uses the Three Lines of Assurance and the Plan-Action-Review-Attest (PARA) Compliance Monitoring framework. Our service in this regard deals with helping clients structure their compliance model around these frameworks and automating the tasks involved by setting them up in their own compliance management system or adopting our system (see the TP-RCS system under Regulatory Risk Solution for more details). Either way, we provide the service for setting this up.

An Expert System for Governance Controllers

At the heart of this service is the identification of Governance Controllers – those managers tasked with every facet of regulatory oversight in the organisation from internal audit, legal, compliance, IT security, training, policies and standards and more – across the entire organisation. In conjunction with this control group, the development of benchmarked Automated Standard Compliance Procedures for each role in this group that creates an “expert system” and ensures proper integrated control, consistency of standards and continuity.

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Should you wish to find out more about this or any of our other Regulatory Risk Services or Solutions, request a call back from one of our team by completing the Request form.