Operational-GRC

Operational-GRC helps ensure Managers are notified of their Governance, Risk & Compliance (GRC) obligations when they first enter a role and periodically thereafter. When there are changes to GRC procedures or rules, all relevant Managers can be notified, training examples provided and the changes acknowledged. Operational-GRC also helps managers ensure that their units comply with all regulatory and management policies.

With Operational-GRC you can automate the operational control environment, including the reporting and management of:

• Operational Errors

  Report, manage, analyze and resolve errors that occurred including realized/unrealized P/L breakdown with hedging/recovery amount in multi-currency. Identify the risk the error relates to and the control(s) that failed. Record the remedial action required for the control.

• Scheduled Compliance Checklists

  Ensure managers confirm compliance with operating procedures e.g. updating procedures, adequate resourcing levels and compliance with operational and regulatory rules and management policies.

• Scheduled Manager Disclosures

  Require operating managers to certify the completeness and accuracy of data reported regarding the operating unit - errors, risks, actions, issues, controls and procedures.

• Operating Issues/Actions

  Report and analyze issues regarding operations that arise from internal auditing, compliance monitoring, other business reviews or internal business disclosure. Ensure each issue/action point is assigned and resolved.

• Operating Risk

  Ensure managers and operational risk professionals identify the risks for each operating unit, analyze their materiality and map them to controls.

• Operating Controls

  Ensure managers and operational risk professionals identify the controls in each operating unit and map them to the risks they address. Monitor the controls to ensure ownership and that they are kept up to date.