OVERVIEW
Any management process involves measuring and monitoring – so it is with risk, control and compliance management. To do so effectively and efficiently, think of the three topics as one, as integrated, and as related to the outputs of business processes. So, we begin by reviewing the typical business process framework, in the context of, and interacting with, outside related parties. These interactions are the bases for risk and compliance, and the organization’s responses are the basis of control, so that defines the range of process outcomes, of process outputs, and whether these ranges are acceptable from the standpoint of both internal and external compliance, and internal control.
WHY SHOULD YOU ATTEND
You should attend if you are afraid of stakeholder reactions to the bad press from such matters as auditor comments about poor control, of regulator comments and ensuing actions due to compliance issues, and/or of unexpected performance problems due to failures to mitigate risks effectively or failures to anticipate risks. Building monitoring into all business processes, and having in place objective means of measuring and reporting on monitoring of risk, control and compliance can reduce the concerns about exposures to bad press.
AREAS COVERED
The session will define what a business process is, and will present a business process framework and its component processes, activities and task; and then, for each activity, will identify its inputs, outputs, the controls and constraints on it, and the tools and mechanisms – including the performers themselves -- used to perform it, so that it provides an integrated view of work. That integrated view of the work can be documented in related policy and procedure, which should identify the who, what, why, where, when and how—or said more completely, who does the work, how the work is done, why the work is done, where the work is done, when the work is done, and what "the work" is.
LEARNING OBJECTIVES
Learn how to apply business-process design, measurement and monitoring – business-process management – for risk, control and compliance management; and why this approach is more effective and efficient than functional management
WHO WILL BENEFIT
Leaders and members of cross-functional teams dealing with risk, control and compliance management. This can include operations, accounting, IT, auditing, and line and staff personnel
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