21 st june agenda 09:15arrival – breakfast served 09:30workshop group questions 10.30networking...
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21st June Agenda
• 09:15 Arrival – Breakfast served• 09:30 Workshop Group Questions• 10.30 Networking
Control Framework
Control Framework Breakfast Group
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Control Framework
Checkpoint Progress
Checkpoint 2: By end of Jan 2012 • Allocate Project Owner• Confirm Start Date
Checkpoint 3: By end Q2/2012• Assess Risks• Identify Controls and Gaps
Checkpoint 4: By end Q2/2012• Evidence remediation plan
Checkpoint 5: By end Q2/2012• Agree assurance to be shared
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Question 1
Scoping. How did you determine what was “Service Company Business” with regard to Phase 1 of the Lloyd’s Control Framework Project at your organisation/s?
Control Framework
Workshop Questions
wholly owned by the group
capital provider?
YES
Not a “Service Company” under
Control Framework
NO
“Service Company” under
Control Framework
Risks processed
on an individual
basis?
YES
NO
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Question 2
Who (which department/role) is responsible for regular reporting on progress of the Control Framework Project to the board? How often does this happen?
Why does this project need to be visible at board level?•Board sign off on the Control Framework is mandatory by June 2013•Internal audit required in order for sign off to occur?•Board authorisation and monitoring to allocate resource if required?
Control Framework
Workshop Questions
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Question 3
How did you obtain project support for the Lloyd’s Control Framework at: a) Board level and b) a departmental level within your organisation/s? Which departments are represented on the Control Framework project team currently?
•Compliance•Tax•IT•Operations•Underwriting•Internal Audit
Control Framework
Workshop Questions
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Question 4
In your experience, what were the best existing resources to assess whether your organisation/s meets the requirements within the Control Framework User Guide? Why?
• Underwriting Platform • Operating Manuals • Training logs• Risk Logs• MI reports• Past Audit Reports
Control Framework
Workshop Questions
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Control Framework
Questions?