governance, risk and compliance initiatives across their organisations. Processes-Depending on the kind of products or services that the company offers to consumers, there should be a list of the process to be followed to ensure that everyt… In addition, they expected to take a risk-based approach to rationalize the number of controls being tested and streamline their change management process. The Director General (DG) of the Department of … In addition, organizations must ensure that the corporate retention policies are defined, communicated and being followed. MetricStream offers industry's most advanced and comprehensive suite of solutions to support ISO 9000 compliance. By unifying all compliance and quality data into one central repository, food and beverage companies can leverage robust reporting, dashboard and alert capabilities to easily identify trends, overdue actions and other performance metrics while maintaining detailed scorecards against Key Performance Indicators (KPIs). We provide enterprise-wide tactical and transformative solutions to manage these risks. He knew that the spreadsheet and email based approach was not going to make risk assessment and remediation systematic and sustainable. ), und erste Anbieter stellen bereits ganzheitliche Lösungen zu GRC-Architekturen vor. In addition, MetricStream can ensure that companies have a repeatable mechanism to document gaps and deficiencies in their process and remedy them in a timely manner. Growing regulatory environment, higher business complexity and increased focus on accountability have led enterprises to pursue a broad range of governance, risk and compliance initiatives across the organization. Compliance professionals are often challenged with explaining how an integrated approach to governance, risk and compliance translates into bottom-line financial benefits for the company. OFAC MetricStream delivers the most comprehensive mapping of the GRC framework within the industry with the following unique capabilities: Summary A footwear company needed to ensure that it was in compliance with ISO 9000 quality standards so it could continue to be a preferred supplier to a large key customer. In light of recent Stock Options backdating scandals, organizations are reviewing their option granting procedures to identify areas of exposure from past practices and to improve practices for the future. Compliance: An initiative to comply with a regulation typically begins as a project as companies race to meet deadlines to comply with that regulation. Frameworks for cybersecurity will typically provide recommendations on implementing and managing the various aspects of a security program, such as perimeter defense, access control, authentication, encryption, monitoring, reporting, incident response, and risk management. An IT organization, with well defined internal controls, enables companies to identify and manage their IT related risks. Operational Risk Management (ORM) Others Central repository of all corporate policies, change management and mechanism for communication, Documentation of all risks in a central repository through integrated document management, Risk identification from surveys and events and categorization, Support for multiple compliance frameworks such as COSO and COBIT, Ability to create a comprehensive risk based controls framework, Comprehensive controls testing capabilities such as inspections, audits, manual and automated assessments, Flexible scheduling of testing of controls, Rich workflow for remediation, certification and disclosure, Integrated framework for enterprise 2.0 collaboration, Use defined workflow with email or portal based notifications, Flexible framework to integrate with external systems either using standards such as WSDL/SOAP or with an integrated tool that needs no programming, Integrated graphical development tool for configurations and enhancements, Offline access to application with automatic synchronization, when connected to the network, Centralize all policy documentation in a repository, Role-based access control to documentation, Support for policy change management through check-in, check-out, review workflow and notification, Identify assets and processes included in an assessment, Control hierarchy: processes/risks/controls, Reporting of results including highlighting issues. A vibrant online community of thousands of professionals who are interacting with each other, asking questions and seeking advice on complex regulatory interpretations on hundreds of different topics in the areas of governance, risk, compliance and quality. Improperly trained employees, substandard products or poor service can cost millions of dollars a year in lost sales for the business and leave the door open to more severe consequences. As a result, they are required to conduct regular audits to ensure compliance. A large number of companies have created roles of Chief Ethics Officer to ensure that they are embedding ethics into the corporate culture and developing and implementing improvements in internal control procedures to mitigate identified corporate ethics program risks. 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