Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Process driven Risk and Compliance Management<br />Anushree M Bag<br />
Benefits of Enterprise Risk Management (ERM)<br />
Risk Monitoring- the COSO framework<br />
ERM Best Practices<br />Adapted from content by: McKinsey and Co.<br />
Denial<br />Head in the sand approach<br />Fear of bad news<br />Over confidence<br />Detachment<br />Slow response/Reacti...
An integrated framework helps<br />RISK: Risk Identification, Risk assessment, Risk monitoring, Risk mitigation , Risk pro...
Risk Tree and Heat Map<br />R2<br />R1<br />R3<br />The highest Risks on a Risk Tree are represented on the Heat Map<br />
Leveraging ERM in Process and Compliance Management<br /><ul><li>Overlay and align the Risk Heat Map with the Strategic El...
Ensure alignment between Risk Evaluation and Prioritization,  and the Strategic Plan
Risk Culture :
Upcoming SlideShare
Loading in …5
×

0

Share

Download to read offline

Process Driven Risk And Compliance Management (Linked In)

Download to read offline

Related Audiobooks

Free with a 30 day trial from Scribd

See all
  • Be the first to like this

Process Driven Risk And Compliance Management (Linked In)

  1. 1. Process driven Risk and Compliance Management<br />Anushree M Bag<br />
  2. 2. Benefits of Enterprise Risk Management (ERM)<br />
  3. 3. Risk Monitoring- the COSO framework<br />
  4. 4. ERM Best Practices<br />Adapted from content by: McKinsey and Co.<br />
  5. 5. Denial<br />Head in the sand approach<br />Fear of bad news<br />Over confidence<br />Detachment<br />Slow response/Reactive approach<br />Indifference<br />Ambiguity<br />Poor definition<br />Lack of clearly documented processes<br />Lack of insight<br />Lack of communication<br />Avoidance<br />Seeking loopholes for subversion of Risk<br />Flaws in Risk Culture<br />Adapted from content by: McKinsey and Co.<br />
  6. 6. An integrated framework helps<br />RISK: Risk Identification, Risk assessment, Risk monitoring, Risk mitigation , Risk profile development, Board driven Risk Appetite, Risk dashboards and Heat Maps<br />PROCESS: Process analysis, process improvement techniques using Six Sigma methodologies to drive operational efficiencies such as cycle time reduction and headcount redirection/reduction<br />COMPLIANCE: Controls documentation and Lifecycle Management to meet Regulatory requirements, with the objective of minimizing the probability of audit findings and financial penalties<br />
  7. 7. Risk Tree and Heat Map<br />R2<br />R1<br />R3<br />The highest Risks on a Risk Tree are represented on the Heat Map<br />
  8. 8. Leveraging ERM in Process and Compliance Management<br /><ul><li>Overlay and align the Risk Heat Map with the Strategic Elements dashboard
  9. 9. Ensure alignment between Risk Evaluation and Prioritization, and the Strategic Plan
  10. 10. Risk Culture :
  11. 11. Process driven Risk through Performance Improvements
  12. 12. Embed in Business Planning and Budgeting process
  13. 13. Leverage ERM to address Compliance Risks & Control Enhancements
  14. 14. Emerging Risks
  15. 15. Addressing Black Swan Risks through scenario planning</li></li></ul><li>Process oriented approach to embed ERM in the business<br />
  16. 16. Anushree M Bag<br />anushreembag@gmail.com<br />Thank You<br />

Views

Total views

1,126

On Slideshare

0

From embeds

0

Number of embeds

12

Actions

Downloads

32

Shares

0

Comments

0

Likes

0

×