simple governance solutions for complex governance ......authors: piotr kaminski, daniel mikkelsen,...

….for Sustainable Compliance Extract from: McKinsey Sustainable Compliance - Seven Steps Towards Effectiveness and Efficiency. Published: February 2017 Authors: Piotr Kaminski, Daniel Mikkelsen, Thomas Poppensieker, Kate Robu Simple Governance Solutions for Complex Governance Challenges “Transform frontline units into a true first line of defense.” “At many institutions, frontline units have ‘outsourced’ a significant portion of their compliance responsibilities to the second line of defense, relying on the compliance function for everyday compliance-related business and control decisions. “At other institutions, both lines of defense are involved in similar activities, leading to duplication and fragmentation of effort. “These two faulty approaches are avoided when roles and responsibilities are appropriately defined. There is real value in having a strong first line of defense handling everyday business and in-line control activities. The role of the second line varies based on the type of compliance requirements.” PRIMED: Simple governance solutions for complex governance challenges With the obligation of regulations such as SM&CR forcing the issue for many, the time is now to take control - with a flexible and agile approach to consistent, efficient joined up governance. Many organisations struggling with regulations such as SM&CR might view McKinsey’s recommendations above as a ‘wish list’, an ideal scenario that is unrealistic to achieve. PRIMED has been designed from inception to include these features as standard - quickly baselining your governance stance, and enabling you to move forward with confidence and repeatable success and efficiency. Summary If you are in first line risk or run a business stream that is subject to regulatory and risk oversight, PRIMED and our partners can help you meet the demands of the business more effectively and efficiently via a more cost-effective and consistent approach. With PRIMED, you can • Map your oversight • See the convergence points • Rationalise and Automate 3rd Floor, Eagle Building, Rose Street, Edinburgh EH2 2PR www.PRIMEDfor.Com +44 (0) 0161 667 1337 [email protected] Contact us for a DEMO or to discuss how PRIMED can help you... Diagram excerpt: ‘Exhibit 2 – A program for sustainable compliance’

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Page 1: Simple Governance Solutions for Complex Governance ......Authors: Piotr Kaminski, Daniel Mikkelsen, Thomas Poppensieker, Kate Robu Simple Governance Solutions for Complex Governance

….for Sustainable Compliance

Extract from: McKinsey Sustainable Compliance - Seven Steps Towards Effectiveness and Efficiency. Published: February 2017Authors: Piotr Kaminski, Daniel Mikkelsen, Thomas Poppensieker, Kate Robu

Simple Governance Solutions forComplex Governance Challenges

“Transform frontline units into a true first line of defense.”

“At many institutions, frontline units have ‘outsourced’ a significant portion of their compliance responsibilities to the second line of defense, relying on the compliance function for everyday compliance-related business and control decisions.

“At other institutions, both lines ofdefense are involved in similar activities,leading to duplication and fragmentationof effort.

“These two faulty approaches areavoided when roles and responsibilitiesare appropriately defined. There is realvalue in having a strong first line ofdefense handling everyday business andin-line control activities. The role of thesecond line varies based on the type ofcompliance requirements.”

PRIMED: Simple governance solutions for complex governance challenges

With the obligation of regulations such as SM&CR forcing the issue for many, the time is now to take control - with a flexible and agile approach to consistent, efficient joined up governance.

Many organisations struggling with regulations such as SM&CR might view McKinsey’s recommendations above as a ‘wish list’, an ideal scenario that is unrealistic to achieve.

PRIMED has been designed from inception to include these features as standard - quickly baselining your governance stance, and enabling you to move forward with confidence and repeatable success and efficiency.

Summary

If you are in first line risk or run a business stream that is subject to regulatory and risk oversight, PRIMED and our partners can help you meet the demands of the business more effectively and efficiently via a more cost-effective and consistent approach.

With PRIMED, you can

• Map your oversight • See the

convergence points• Rationalise and

Automate

3rd Floor, Eagle Building, Rose Street, Edinburgh EH2 2PR www.PRIMEDfor.Com+44 (0) 0161 667 [email protected]

Diagram excerpt:‘Exhibit 2 – A program for sustainable compliance’

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