The importance of compliance controls cannot be overstated. Having the right compliance framework is important not just to management, but to the regulatory bodies as well. The biggest compliance penalties are usually levied on banks which did not have the proper controls in place, because it represents a structural failure. That is why compliance […]
The law of diminishing returns, which states that after a certain point adding resources only gives marginal value, is certainly true for risk and compliance management. Organizations that try to improve compliance levels and risk mitigation by increasing risk and compliance personnel end up realizing that the improvement does not justify the increased payroll […]
We live in an era where data has become one of the biggest commodities. Some of the biggest businesses in the world achieved success by using data. Any business that wants to get more out of its risk and compliance efforts also needs to realize the importance of data and what it can do […]
It may be possible to temporarily improve compliance monitoring through increased oversight, but to truly improve compliance and embed it into the DNA of the organization it is important to work on the compliance framework within the organization. By compliance framework we refer to all the parts of the organization that play a role […]
New features in a technology always looks enticing but it is also important to see what impact it will have in the way our business operates. Compliance monitoring is an important part of compliance management solutions under the GRC umbrella. What impact does monitoring have on enforcement programs? How does it benefit businesses? Let’s […]
QA testing is essential to ensure that the organization’s compliance framework is working as intended. Businesses put a lot of thought, time, and investment into their compliance controls. These controls are important because they can prevent a compliance problem for occurring and they also help in detecting problems to ensure that they can be […]