Risk Based Self-Assessment as a Critical Element to Measure Risk, Performance, and Improvement

A hands-on approach to implementing and leveraging a risk assessment to increase compliance program effectiveness and lean performance.


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A proactive, systematic risk assessment is an essential first step to developing and implementing an effective compliance program. Performance culture, sound economics, and regulator expectations all require that an organization tailor its compliance controls and capabilities to have maximal effect in mitigating risk.  As the Department of Justice has explained, “One-size-fits-all compliance programs are generally ill-conceived and ineffective because resources inevitably are spread too thin, with too much focus on low-risk markets and transactions to the detriment of high-risk areas.”  Moreover, in a corporate environment characterized by lean performance, tailoring your compliance program to your company’s actual risks is a business necessity.  A deliberate, iterative self-assessment methodology is crucial to obtaining the benefits of both mitigating enforcement risk and achieving a high-efficiency compliance program.

There are multiple approaches to conducting an assessment, ranging in complexity, depth, and substantive focus.  These include business process mapping, employee surveys, and intrinsic risk evaluation, among others.  We will describe, provide examples, and discuss application of multiple compliance assessment techniques.  We will also introduce a multi-tiered approach that integrates multiple techniques and tools to build a comprehensive, metrics-based, and benchmarked assessment of an organization’s compliance risks, culture, processes, and program maturity.  This webinar is intended to provide attorneys, compliance leaders and professionals, and business leaders with an understanding of the risk assessment process and a hands-on approach to implementing a multi-tiered assessment to increase compliance program effectiveness and lean performance.

Among other questions, we will address:

  • Why conduct a compliance risk assessment?
  • What should an organization get out of a compliance risk assessment?
  • What are some techniques for conducting assessments?  What are their respective advantages and disadvantages?
  • What is intrinsic compliance risk?  How do you measure it?
  • What is the relationship between organizational culture and compliance risk?
  • How can an organization assess whether its compliance program is appropriate to its risk?
  • How can an organization leverage risk assessments to benchmark itself to peers and industry standards?
  • How can multi-tiered assessments be leveraged to measure and unlock compliance program performance?

This webinar is intended to provide attorneys, compliance leaders, and professionals with a hands-on approach to implementing and leveraging a risk assessment to increase compliance program effectiveness, efficiency, and lean performance. The webinar will focus on:

  • Utilizing the risk assessment to tailor your compliance program to your organization’s risks and needs, rather than trying to have the “biggest” or “best” program
  • Integrating data and metrics into the self-assessment process
  • Building frameworks to facilitate program prioritization
  • Integrate compliance into your programs and other business operations
  • Recurrent assessment as a critical element to measure risk, performance, and improvement

The webinar will be presented through PowerPoint slides and will include live video and commentary from Randall Cook and Rosanne Giambalvo of Ankura Consulting. Randall is a Senior Managing Director at Ankura Consulting Group. He has more than 18 years of experience conducting complex investigations and audits, leading and advising organizations engaged with critical operational and compliance challenges, and designing and delivering high-performance, persistent, integrated risk mitigation solutions. Rosanne is a Senior Director at Ankura Consulting Group. She has over 20 years of professional experience, including three years in international trade compliance and over 15 years in financial services. Ms. Giambalvo works with her clients to operationalize trade compliance through the development of international trade compliance policies and procedures, system and process enhancements, and training.

Webinar participants are invited to submit questions during the webinar and the final 30 minutes will be allotted to answering attendees’ questions.

 


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Webinar Details:

Recorded Dec 14, 2017
Length 1 hour 30 minutes
Comprised of 1 hour of commentary and 30 minute Q&A session
Cost $150 per person
Multi-Viewer Discounts Available
ECoP® EAR or ITAR renewal credits: 1
NEI / NCBFAA
Event #: 12668/126681
CES: 1.5 CCS: 1.5
Additional Notes

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