qpr 8 risk management and compliance solution
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Qpr 8 Risk Management And Compliance SolutionTRANSCRIPT
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QPR Risk Management andCompliance Solution
© QPR Software Plc© QPR Software PlcIYCON – Sustaining Your Adaptive Advantage -www.iycon.com
Agenda
Risk Concepts and Definitions
Risk Management and Compliance Drivers
Common Challenges
Turning Risks into Opportunities: The RMC Platform
QPR Risk Management and Compliance Solution:
Step by Step
QPR Risk Management and Compliance Solution Demo
Questions and Answers
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Risk Concepts and Definitions
Risk
The combination of the likelihood and impact of an event, which has an influence on achieving
organization's objectives
Assessment
Determining the likelihood and potential
severity of identified risks.
Determining the validity of established controls
Regulation
Binding or non-binding restrictions enforced by governments or other
regulatory bodies
Risk Management
Integrated framework for managing
organization-wide risks in order to maximize organization’s value
Compliance
Systems to ensure that organizations are
aware and comply with relevant laws and
regulations
Controls
Specific set of policies, procedures and
activities designed to monitor and mitigate
risks
Audit
An independent, objective assurance and consulting activity
designed to help organizations
accomplish objectives by bringing a
systematic, disciplined approach to evaluate
and improve the effectiveness of risk
management, control, and governance processes.
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Risk Management & Compliance Drivers Grow Stronger
Industry-Specific: Basel II, FDA, FERC, FAA
Non-Binding:ISO 9000, ITIL
Governmental:
SOX, J-SOX etc.
Geo-Political Factors
NaturalDisasters
Reengineering
Outsourcing Globalization
OffshoringJoint Ventures
InvestorDemandsExternal forces:
Opportunities and threats- Political environments
- Economic environments- Regulatory environments
Internal forces:Meeting their challenge
- More dynamic & complex business models- Businesses become more distributed
IncreasedCompetition
EnvironmentProtection
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Examples
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What are The Common Challenges?Risk and compliance are managed reactively
Risk and compliance are managed in functional silos
Lack of a systematic approach for the whole organization
Multiple regulations are overlapping, causing duplicate work
Regulations and business operations change constantly
Risks are viewed as threats, not as opportunities
Reacting in an isolated way to each and every risk and regulation is inefficient and is becoming a huge cost driver
Management cannot obtain a clear view of risks, compliance and the status of internal control: hampers decision making , unable to solve the problem.
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How to Turn Risks into Opportunities?
Improve decision making on all organizational levels Anticipate events in order to gain from them or
prevent losses Improve stakeholder confidence (investors, insurers) Comply with all regulations (avoid legal action)
Proof- Demonstrate it toauditors, managers, investors, insurers
etc.
Preparedness
- Active follow up- Insight in response
strategies- Complete, up-to-date
overview
Awareness- Common understanding
- Periodically identify- Ensure risks are
assessed across the organization
- Risk communication
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QPR RMC Platform Business Benefits
Makes risk identification and communication easierProvides a commonly understood view of strategy,
objectives, tasks, processes context for risk identification
Improves strategic and operational decision makingPromotes risk-awareness
Provides a strong driver for continuous process improvementDriven by risks, regulations, strategic direction and performance
measurement
Reduces the cost of compliance and auditsOffers a single point of access to all risk & compliance related
information
QPR Provides an organization-wide solution to manage and comply with a multitude of RMC imperatives in a unified and efficient way
RisksRegulation
s
BusinessProcesses
Strategy & Performance
Integrating risk management with strategy, performance and business process management:
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Three QPR Solution Areas
Risk Management & Compliance
A process-oriented control framework for managing risk & compliance
Business Process Management
A process design, implementation and automation platform supporting the full
BPM cycle
Corporate Performance Management
A complete performance management system for process and business
monitoring and control
Risk Measurement
Enterprise Risk Management
Risk Identification and Documentation
Process Measurement
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Applying CPM and BPM for RMC
Risk Management & Compliance
A process-oriented control framework for managing risk & compliance Risk
Measurement
Enterprise Risk Management
Risk Identification and Documentation
Business-driven
Compliance-
driven
Manage just the most
important objective-
related risks in order
to improve
performance
Ensure all risks
(internal & external)
are covered by
proper controls
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Risk Management & Compliance Cycle
Identify & Assess Risks & Regulations
- Identify & classify - Determine likelyhood &
impact- Rank their importance
- Decide which to accept, transfer, reduce or eliminate
Implement Policies & Controls
- Risk planning -Make process changes
& additions- Document
- Communicate
Monitor & Report
- Schedule risk assessments & control checks- Capture results
- Report
Enterprise Risk Management Dashboard
measure
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Capture all the Risks that are Relevant
Chief Risk Officer
What are all the risks we
need to address?
What are all the risks we
need to address?
We could be in trouble if...We could be in trouble if...
Process Organization Entities
We know the business, but what risks are
relevant?
We know the business, but what risks are
relevant?
Functional OrganizationEntities
Regulators
CEO / Executives
RMC Platform
Business risks
Compliance risks
Get Everyone Involved: Provide an Easy-to-Use Means for Documenting Risks
Objectives
Processes
Strategy
Regulations
Make sure you complyMake sure you comply
Make sure we are in control
Make sure we are in control
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Risk Identification
Providing employees with insight in how things are done in your organization makes identifying risks easier
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Documenting risks and controls...
Both on process maps as well as in risk libraries...
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Assess & Evaluate Risks Your Way!
Capture and document risks in a way that best suits your organization:
Your risk response and risk communication depend on it
Probability settings are risk-specific
Probability settings are risk-specific
I need complete
freedom in choosing impact
measurement
I need complete
freedom in choosing impact
measurement
Our business requires a
specific way of categorizing
risks
Our business requires a
specific way of categorizing
risksIt would be great
if we can allocate risks in multiple ways
It would be great if we can
allocate risks in multiple ways
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Risk Assessment
Risk assessments done decentrally via QPR Portal
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Risk ranking
RiskRisk
LocationLocationAccountabilit
yAccountabilit
y
ScoreScore
ImpactImpact
Likelihood
Likelihood Mitigatio
nMitigatio
n
Customize the way you rank and what information is shown to who...
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You have one year
You have one year
Get a Clear View of How all New Identified Risks are being Addressed
Auditor Chief Risk Officer
We need to take actionWe need to take action
QPR Portal Control Activities
Monitor progress: Make sure you are on track with control implementation
Actions logging: Detailed insight into all Control Activities
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Control activities by deadline
Easy to review your progress in implementing risk mitigating control activities
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Communicate Risks and Controls Effectively
Add risks and controls to the process maps
Adapt processes where needed
Communicate to the relevant people to ensure awareness
Review previously added risks and identify new ones
risk / control reuse
Provide everyone with a clear understanding of what falls under their responsibility and what policies & procedures to follow to ensure
compliance
One tool that addresses all the
risks and controls I am
accountable for
One tool that addresses all the
risks and controls I am
accountable for
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Get a Complete and Up-To-Date Overview of the Status of Risks and Controls
An up-to-date and complete overview
of all risk and compliance information
An up-to-date and complete overview
of all risk and compliance information
Risk Dashboards for SOX, Learning &
Growth, Production, Environment,
Occupational Health
Risk Dashboards for SOX, Learning &
Growth, Production, Environment,
Occupational Health
Analysis, filtering, drill-down...
effectively assess the overall risk &
compliance profile
Analysis, filtering, drill-down...
effectively assess the overall risk &
compliance profile
I now know exactly what I am
accountable for and get alerted when there’s a problem
I now know exactly what I am
accountable for and get alerted when there’s a problem
Chief Risk Officer
Functional Managers CEO & Management Board
Obtain the ability to react fast and anticipate events
Get a good overview of your preparedness-level
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Risk Dashboards
Quick and flexible to create...
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Maintain a Reliable Foundation for Decision Making and Internal Control
Optimize the organization’s capability to generate value for its’ stakeholders
AuditorInvestors
Is this organization in control?
Is this organization in control?
CEO
We’re in control, we’re up-to-date
and we can prove it
We’re in control, we’re up-to-date
and we can prove it
Chief Risk Officer
I get alerted to perform my risk and
control assessments
I get alerted to perform my risk and
control assessments
I can comment,
share ideas and launch actions for improving controls
I can comment,
share ideas and launch actions for improving controls
Can I trust this
information?
Can I trust this
information? CONFIDENCEAll issues addressed appropriately
All activities logged
Employee
Employee
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QPR Benefits
Reduction of the costs associated with RMC activities
Always a clear, complete and up-to-date overview of your business processes, risks and controls
Get everyone involved: Integrate RMC into the business
Facilitate effective reporting to management and auditors
Easy to use: Focus on the business user
Fast to implement
Lift RMC from being a set of tactical, ad-hoc initiatives to becoming a strategic advantage
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QPR RMC Software Benefits All Employees
Business executives can monitor the state or risk and compliance to drive strategic direction
Risk and compliance officers can be successful in the day-to-day management of risk and compliance by ensuring it’s integrated within processes
Internal and external auditors obtain up-to-date reports and can review follow-up activities for identified non-conformancies
Business unit and process managers can answer to risk and control assessments and monitor the state of risk and compliance in their own area
Employees, contractors, consultants & temporary workers have a convenient way of becoming aware of policies and compliance issues
Business partners can participate in conducting contract and control assessments
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About IYCON
•Leading Consulting & Technology Solution Company in the Middle East, India and Oceania (Australia / New Zealand)
•Provide High Quality Business & Technology Solutions across Middle East & India
•Based out of Dubai Internet City, Dubai, United Arab Emirates (Middle East Operations)
•Based out of Mumbai, India (Indian Operations)
•Based out of Melbourne, Australia (Oceania Operations)
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The IYCON Mission
• While today's markets belong to companies with a competitive advantage
• The future belongs to companies with an Adaptive Advantage
• We help companies discover and maintain their Adaptive Advantage
Sustaining Your Sustaining Your Adaptive Adaptive Advantage ™Advantage ™
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Why IYCON?
One of only six global QPR Strategic VAR’s (out of a total worldwide partner network of 72 partners)
Has Techno-Commercial Consultants conversant with management methodology as well as QPR Tools
Has dedicated Certified Technical Consultants on QPR Products – first line of local support
Only QPR Partner worldwide to host dedicated QPR Self Serve Helpdesk (IYCON Helpdesk) for IYCON’s QPR Customers.
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Our Ongoing Value Proposition to Customers
Understand customer requirements
Offer a complete Solution- Technology- Training- Consulting
Quality SupportTimely ResponseTimely Resolution
Regular Health Checks to Sustain the Adaptive Advantage
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Our International Delivery & Support Model
Deployment Onsite
Training onsite on train the trainer basis
Self Serve Helpdesk for support tickets (technical & business support issues)
Contracted response and resolution times
Remote support capabilities with 100% resolution guarantee
Currently supporting organisations across 9 countries (Middle East, Indian Subcontinent & Oceania)
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Customers in Middle East & Asia
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About QPR Quality. Processes. Results
• Founded 1991, QPR Software Plc is an international specialist providing software and solutions for
Process managementPerformance managementRisk management & Compliance to Quality and Regulation
• QPR´s and its resellers combined sales of QPR products and services totaling over EUR 20 million• QPR Software is listed on NASDAQ OMX Helsinki Ltd. (ticker: QPR1V).
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Globally recognized as best-of-the-breed products:
ANALYSIS
PROCESS AUTOMATION
PROCESS DESIGN
PERFORMANCE MONITORING
QPR ScoreCardPerformance Management
QPR ProcessGuideProcess Management
1996 Product Launch
1997 First recognition from Gartner Group in Leaders position in BPM/A tools
2003 Launch of QPR 7.0 with Collaborative Management System portal
2007 Launch of QPR WorkFlow tool for Process automation
1998 Product Launch
1999 Balanced Scorecard Collaboration Certification
2002 First recognition from Gartner Group as a CPM Suite
2006 Launch of QPR FactView tool for data analysis2008 Launch of QPR 8.0 with MS SharePoint and MS Office integration
2008 QPR 8.0 translated to more than 20 languages
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Customers
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Private Sector Customers Worldwide
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Public Sector Customers Worldwide
THE FINNISHDEFENCE FORCES
Social Investment Fund for Local Development
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H.I.S.
Profile: Globally operating travel operator
Need: Comply with Japanese SOC Act Identify and document business processes
and associated risks Implement controls Monitor control effectiveness and appropriateness Demonstrate compliance with J-SOX
Solution Benefits: QPR Risk Management and Compliance for J-SOX Complete and up-to-date overview of all relevant risks and controls Continuous monitoring of compliance status: ability to react fast to
non-conformancies Insight in business processes and their performance: improved
process efficiency and productivity Implemented organization-wide in < 1 year
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Africa Rainbow Minerals
Profile: Globally operating platinum, gold and
iron mining company
Need: Demonstrate performance of risk control,
tracking and measurement High risk operations: satisfy insurance stakeholders
International operations: comply with multitude of regulations
Stock-listed company: demonstrate compliance with listing requirements
Many partnerships: gain control over business complexity
Solution Benefits: QPR Risk Management and Compliance Commitment from management teams to meet defined targets
Timely risk identification and evaluation Timely action
Improved decision making and governance: Taking calculated risks in line with ARM stakeholder interests
Ability to demonstrate the effectiveness of the risk management process
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Thank You
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