Measuring and Monitoring Risk, Control and Compliance Management
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. Thissession will review and define more fully this business process framework and typical business processes, and how they should be monitored and measured in regard to risk, control and compliance. Tools will be described and their uses will be illustrated. Examples will be provided to il...