Policy Management- Enabling Employee Freedom and Revenue Growth


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Rob Tietjen, vice president of NAVEX Global, brings a wealth of knowledge only gathered in a practitioner’s shoes. Based on his own experience, he demonstrates how effectively creating and managing policies and procedures through a unified system can help an organization's staff to reduce corporate risk – and positively impact bottom line.

He explores:
Why policies and procedures matter, and how they constitute the core of compliance.
The risks of using a paper-based system or intranets to distribute policies and procedures.
The real revenue and time-saving benefits of an automated policy management system.

Presented by:
Rob Tietjen, Vice President, NAVEX Global

Published in: Technology, Business
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Policy Management- Enabling Employee Freedom and Revenue Growth

  1. 1. Rob Tietjen4/2/2013 1Policy Management:Enabling Employee Freedomand Revenue Growth
  2. 2. 72 of theFortune 100500+ of theFortune 1000Select Policy Management Clients
  3. 3. 4/2/2013 5Why Policies and theirManagement Matters
  4. 4. I have stated it before and I will state it again: thetypical organization is a mess when it comes tomanaging policies and procedures.Policies articulate culture, they establish a duty ofcare, define expectations for behavior (for individuals,processes, and business relationships), and establishhow the organization is going to comply withregulatory and contractual requirements.- Michael Rasmussen, GRC Analyst, Corporate Integrity
  5. 5. The only real way that the auditor knows whetheror not we are doing our jobs and being compliant isto look at our policies and procedures to see if thedirection has been set. And then look for evidenceto see if we’ve been following our own directions.Simple as that.- Dorian Cougias, CEO of Network Frontiers,Author of “Say What You Do”
  6. 6. The Kitchen Analogy
  7. 7. The Kitchen Analogy
  8. 8. The Kitchen Analogy
  9. 9. The Kitchen Analogy
  10. 10. The Kitchen Analogy
  11. 11. The Kitchen Analogy
  12. 12. The Kitchen Analogy
  13. 13. The Kitchen Analogy
  14. 14. The Kitchen Analogy
  15. 15. Clarity around policies provides freedomRisks BenefitsErrors/low quality Standardized/high quality productRework Performed correctly 1st timeLitigation Highly reduced litigation eventsConstant training Little to no retrainingIncorrect/varied training Correct/absolute trainingConstant supervisory correction Self-correction
  16. 16. Policy Management ChallengesHEADACHES: RISKS: Finding them Tracking readers impossible Keeping drafts organized Monitoring review/approvalworkflow Delayed approval times Policy gets changed rightbefore/after approval Lack of acceptance proof Lack of comprehension Outdating Insufficient audit trail Incongruent dates Lost documents Lack of standardization
  17. 17. Other Key BenefitsIdentifies appropriatebehaviors and responsibilitiesin risk areasEstablishes corporate cultureof achieving goals withinboundariesKey component ofcompliance governanceSets standards for identifyingand disciplining aberrantbehavior19
  18. 18. 4/2/2013 20Best Practices for PolicyManagement Systems
  19. 19. Best practices for policy management? Policy committeeo Cross-functional group tasked with bringingconsistency to policy management process Policy managero In charge of policy management processo Drives creation and revision of policies in aconsistent style and format Policy management processo One repository to create, store andorganize policieso Must have, at a minimum, features /functions to create, communicate, manageand maintain policies21PROCESSMANAGERCOMMITTEE
  20. 20. Policy Process Features/FunctionsPolicy Development Initiation: Based on risk monitoring - changes inorganization, regulations, external environment Ownership: One person is responsible foroverseeing policy drafting and implementation Drafting: Author creates (or revises) policyaccording to accepted format or template,including scope, applicable laws or rules, andsupporting documents/links Approval: Stakeholders approvevia iterative process22POLICYLIFECYCLE
  21. 21. Policy Process Features/FunctionsPolicy Communication Publication: Approved policy iscommunicated through centralizedplatform Training: Appropriate risk-exposedaudiences are identified and receive policytraining Attestation: Appropriate risk-exposedaudiences attest that they have received,read, understood and will uphold policy23POLICYLIFECYCLE
  22. 22. Policy Process Features/FunctionsPolicy Monitoring Enforcement: Policy non-compliance istracked; feeds policy review/revisionand reports Aging: Policy review schedule is trackedwith flags for due dates in queue; feedsreports Exception management: Policyexceptions documented; feeds policyreview/revision and reports24POLICYLIFECYCLE
  23. 23. Policy Process Features/FunctionsPolicy Maintenance Accessibility: Policies easily accessed inone place by all relevant stakeholders Review: Policies reviewed accordingto cycle time (e.g. annually)• Policy owner considers documentedexceptions/incidents of non-compliance to determine need forrevision or reauthorization as is• Includes ensuring audit trailon changes• Included in Compliance Work Plan25POLICYLIFECYCLE
  24. 24. Policy Process Features/FunctionsPolicy Maintenance Archive: Policy versions retained accordingto records retention policy; retain easilyaccessed policy distribution, training,attestation records26POLICYLIFECYCLE
  25. 25. 4/2/2013 27Automating the PolicyManagement Lifecycle
  26. 26. Key Technological Components Notifications Audit trail Integration Reporting28 Document management Workflow Organization management Task management
  27. 27. Key Attributes for PM TechnologyCentralizedSearchableSecureAccessibleGlobal29
  28. 28. Communicate policiesDocument attestationsCreate: Assess need forPolicy authorship ReviewMonitor resultsEnforce complianceMaintain, reviewand updateRetire/archiveTHE PMLIFECYCLEClient Advisory CouncilAutomating the Policy Management Lifecycle
  29. 29. Draft Review Approval Pending Publish/ArchivePolicy Management Lifecycle4/2/2013NAVEX Global Policy Management 31document ownerpolicy draftLaterNowPUBLISH
  30. 30. ManagePublishManagePublishAutomating the Policy Management Lifecycle
  31. 31. Client Advisory Council 33Train + educateCommunicate policies+ expectationsTrack andreport resultsRead andacknowledgeConsistent Processes = Reduced RiskManagePublishAutomating the Policy Management Lifecycle
  32. 32. Cost Saving Benefits Reduced time involved: Increases efficiency, less time is needed to create,distribute and track Fewer people involved = less time spent on management Process consistency: The system insures process consistency lessening timespent later on to manage Improved recognition: Improved awareness leads to reduced litigation andfewer fines for non-compliance Hard goods costs (supplies, binders, etc.)
  33. 33. Compliance Benefits1. Ensures documents are designed with standardized format in conformancewith necessary regulatory requirements2. Links all documents to applicable regulatory standards3. Instantly retrieves pertinent documents that show compliance withregulatory requirements as requested by auditor4. Ensures employees are accessing current versions and are being reviewedperiodically5. Demonstrates a defensible Audit Trail as well as Change History6. Provides legal proof of employees awareness and comprehension ofcompany policy7. Provides proof of stakeholder buy-in on company procedure (third-parties)
  34. 34. Awareness & ConsistencyEnsure Success through Process
  35. 35. The data reveal a strong and direct correlationbetween professed knowledge of the existence ofprocedures and their comprehensiveness inpractice.The reasons for this higher awareness are clear:agencies that have gone to the effort of developingcomprehensive procedures also appear to havebeen most likely to expend resources in makingstaff aware of them.4/2/2013 37
  36. 36. The Compliance EcosystemACCESS PORTALAnalytics & ReportingThirdPartyRiskMgt.FutureApplicationPolicyManagementCertificationsCaseManagementExpandedIntakeEmployeeAwarenessOnlineTrainingHotlineFutureApplicationUNIFIED COMPLIANCE DATAADVISORYSERVICESPROFESSIONALSERVICES
  37. 37. Q & A4/2/2013 39NAVEX Global: The Ethics and Compliance ExpertsThank you.