Monday, 23 April 2012

Responsibility in the Control Ecosystem

Responsibility in the Control Ecosystem

In every Business Risk & Control environment a maker / checker principle is adopted. Within more developed approaches the question of the relationship between those two functions becomes a central point of calibrating the Control Ecosystem.

Implementation Framework for Business Risk & Control Management

Implementation Framework for Business Risk & Control Management

The execution of a Business Risk & Control function is based on three main components:

·         A solid analysis of the Business Risk & Control environment

·         An Implementation Framework: Assessing risks, determining rules and establish proper controls

·         Transparency and support in the control process

The core components, the Implementation Framework, has to be designed, executed and reviewed in a continuous process. The sections below described the processes as such:

Business Risk & Control Environment

Business Risk & Control Environment

Holding organizations work with many entities in entirely different environments. Despite different services, products, markets, legal frameworks and leadership experience across the entire organization, very often a homogenous structure of guidelines and rules are applied. This complexity is further increased by a set of local policies and operational necessities. The professional management of such an overall organization in regards to business risks and controls is a challenge that takes more and more resources.