Effective Governance Risk Management and Compliance (GRC) is the inflection point for sustaining business and shareholder value. Organizations face fundamental business issues such as maintaining a "culture of compliance" while managing risk, increasing revenues, and controlling costs - items that all organizations, in all industries, must address in order to flourish. Leading organizations leverage streamlined GRC practices to maximize their business performance.

External factors impacting compliance include industry regulations, the Sarbanes-Oxley Act, shareholder expectations, ratings agencies, and public/political pressure. Likewise, organizations face internal GRC pressures caused by activities such as processes for market place transactions, outsourcing initiatives, and corporate social responsibility (CSR) commitments.

At ProSidian, we bring a deep understanding of strategic business operations. We understand the specific nature of compliance risk. Together with our expertise and focus on risk, compliance, and business process, ProSidian's insight leverages the capacity to quickly discern the unique nature of the client's needs and deliver results through a structured approach to tailored client solutions.

We view effective compliance as a delicate balance between independent action and established controls. From a "Corporate" viewpoint, more control monitors activities and reports actions as determined by management. The "Operational" view of compliance allows one to do his/her job with a culture of compliance that fulfills GRC commitments while meeting goals and objectives. At ProSidian, we work with clients to understand their compliance needs along a GRC maturity spectrum of Ad-hoc Response (low) through Reactive, Managed, Mitigated and Predictive (High) response processes defined by management.

We work with stakeholders to identify and manage risks inherent to the organization by incorporating business drivers and initiatives with critical mitigation activities based on management's expectations of appropriate response to applicable laws, regulations, and standards. While changing regulatory perspectives pose risks to the organization, many are looking for an effective way to manage the breadth of their compliance activities.

Varying Regulatory Perspectives Impact:

• Attendance records
• Management and storage of records
• Dedicated compliance staff
• Developing a Culture of Compliance
• Established curriculum
• Internal audit programs
• Internal investigations
• Mechanisms for monitoring compliance behavior
• Multiple markets
• Multiple regional regulations
• Published schedules
• Self-reporting of non-compliance
• Training

ProSidian assists management and other stakeholders to assess corporate compliance risks, processes, and controls against leading practices; to monitor corporate compliance and develop and implement improvements to current GRC processes. Navigating the compliance landscape with ever-increasing laws, regulations, standards, and frameworks require a consistent operational approach, coordinated personnel, technology architecture, as well as, the right people and process enablers.

Value Proposition:

• Protects corporate reputation and brand value
• Instills the right tone and control consciousness throughout the organization
• Demonstrates sound corporate governance to internal/external stakeholders
• Minimizes and prevents fraudulent/unethical behavior and compliance-related surprises
• Demonstrates due care compliance with U.S. Federal Sentencing Guidelines and other legal, regulatory, and business requirements

   

Example Compliance And Mitigation Behaviors:

Dedicated Compliance Program

• Full-time GRC Staff
• Specific processes and controls
• Compliance monitoring and reporting
• External expertise to focus on risk and compliance

Institutionalization of Behaviors

• Formal management communication
• Compliance activities tied to performance metrics
• Established Code of Conduct
• Training

Modified Oversight and Controls

• Delegation of authority and segregation of duties
• Independent external review
• Employee screening

GRC Automation and Application of Technology

• Workflow management
• Consistent operational approach
• People and process enablers
• Scalable platform

Representative Areas Of Focus Include:

• Environmental Standards
• FERC/NERC Regulations
• Foreign Corrupt Practices Laws
• Data protection/privacy standards
• Employee records management regulations
• Intellectual property standards