Qpr 8 Risk Management And Compliance Solution


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Qpr 8 Risk Management And Compliance Solution

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  • Qpr 8 Risk Management And Compliance Solution

    1. 1. QPR Risk Management and Compliance Solution
    2. 2. Agenda <ul><li>Risk Concepts and Definitions </li></ul><ul><li>Risk Management and Compliance Drivers </li></ul><ul><li>Common Challenges </li></ul><ul><li>Turning Risks into Opportunities: The RMC Platform </li></ul><ul><li>QPR Risk Management and Compliance Solution: </li></ul><ul><li>Step by Step </li></ul><ul><li>QPR Risk Management and Compliance Solution Demo </li></ul><ul><li>Questions and Answers </li></ul>
    3. 3. Risk Concepts and Definitions Risk The combination of the likelihood and impact of an event, which has an influence on achieving organization's objectives Assessment Determining the likelihood and potential severity of identified risks. Determining the validity of established controls Regulation Binding or non-binding restrictions enforced by governments or other regulatory bodies Risk Management Integrated framework for managing organization-wide risks in order to maximize organization’s value Compliance Systems to ensure that organizations are aware and comply with relevant laws and regulations Controls Specific set of policies, procedures and activities designed to monitor and mitigate risks Audit An independent, objective assurance and consulting activity designed to help organizations accomplish objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
    4. 4. Risk Management & Compliance Drivers Grow Stronger Industry-Specific: Basel II, FDA, FERC, FAA Non- Binding: ISO 9000, ITIL Governmental: SOX, J-SOX etc. Geo-Political Factors Natural Disasters Reengineering Outsourcing Globalization Offshoring Joint Ventures Investor Demands <ul><li>External forces: </li></ul><ul><li>Opportunities and threats </li></ul><ul><li>Political environments </li></ul><ul><li>Economic environments </li></ul><ul><li>Regulatory environments </li></ul><ul><li>Internal forces: </li></ul><ul><li>Meeting their challenge </li></ul><ul><li>More dynamic & complex business models </li></ul><ul><li>Businesses become more distributed </li></ul>Increased Competition Environment Protection
    5. 5. Examples
    6. 6. What are The Common Challenges? <ul><li>Risk and compliance are managed reactively </li></ul><ul><li>Risk and compliance are managed in functional silos </li></ul><ul><li>Lack of a systematic approach for the whole organization </li></ul><ul><li>Multiple regulations are overlapping, causing duplicate work </li></ul><ul><li>Regulations and business operations change constantly </li></ul><ul><li>Risks are viewed as threats, not as opportunities </li></ul><ul><li>Reacting in an isolated way to each and every risk and regulation is inefficient and is becoming a huge cost driver </li></ul><ul><li>Management cannot obtain a clear view of risks, compliance and the status of internal control: hampers decision making , unable to solve the problem. </li></ul>
    7. 7. How to Turn Risks into Opportunities? <ul><li>Improve decision making on all organizational levels </li></ul><ul><li>Anticipate events in order to gain from them or prevent losses </li></ul><ul><li>Improve stakeholder confidence (investors, insurers) </li></ul><ul><li>Comply with all regulations (avoid legal action) </li></ul><ul><li>Proof </li></ul><ul><li>Demonstrate it to </li></ul><ul><li>auditors, managers, investors, insurers </li></ul><ul><li>etc. </li></ul><ul><li>Preparedness </li></ul><ul><li>Active follow up </li></ul><ul><li>Insight in response strategies </li></ul><ul><li>Complete, up-to-date overview </li></ul><ul><li>Awareness </li></ul><ul><li>Common understanding </li></ul><ul><li>Periodically identify </li></ul><ul><li>Ensure risks are assessed across the organization </li></ul><ul><li>Risk communication </li></ul>
    8. 8. QPR RMC Platform Business Benefits <ul><li>Makes risk identification and communication easier </li></ul><ul><ul><li>Provides a commonly understood view of strategy, </li></ul></ul><ul><ul><li>objectives, tasks, processes  context for risk identification </li></ul></ul><ul><li>Improves strategic and operational decision making </li></ul><ul><ul><li>Promotes risk-awareness </li></ul></ul><ul><li>Provides a strong driver for continuous process improvement </li></ul><ul><ul><li>Driven by risks, regulations, strategic direction and performance </li></ul></ul><ul><ul><li>measurement </li></ul></ul><ul><li>Reduces the cost of compliance and audits </li></ul><ul><ul><li>Offers a single point of access to all risk & compliance related </li></ul></ul><ul><ul><li>information </li></ul></ul>QPR Provides an organization-wide solution to manage and comply with a multitude of RMC imperatives in a unified and efficient way Integrating risk management with strategy, performance and business process management: Risks Regulations Business Processes Strategy & Performance
    9. 9. Three QPR Solution Areas Risk Management & Compliance A process-oriented control framework for managing risk & compliance Business Process Management A process design, implementation and automation platform supporting the full BPM cycle Corporate Performance Management A complete performance management system for process and business monitoring and control Risk Measurement Enterprise Risk Management Risk Identification and Documentation Process Measurement
    10. 10. Applying CPM and BPM for RMC Risk Management & Compliance A process-oriented control framework for managing risk & compliance Risk Measurement Enterprise Risk Management Risk Identification and Documentation <ul><ul><li>Manage just the most important objective-related risks in order to improve performance </li></ul></ul><ul><ul><li>Ensure all risks (internal & external) are covered by proper controls </li></ul></ul>Business-driven Compliance-driven
    11. 11. Risk Management & Compliance Cycle <ul><li>Identify & Assess Risks & Regulations </li></ul><ul><li>Identify & classify </li></ul><ul><li>Determine likelyhood & impact </li></ul><ul><li>Rank their importance </li></ul><ul><li>Decide which to accept, transfer, reduce or eliminate </li></ul><ul><li>Implement Policies & Controls </li></ul><ul><li>Risk planning </li></ul><ul><li>Make process changes </li></ul><ul><li>& additions </li></ul><ul><li>Document </li></ul><ul><li>Communicate </li></ul><ul><li>Monitor & Report </li></ul><ul><li>Schedule risk assessments </li></ul><ul><li>& control checks </li></ul><ul><li>Capture results </li></ul><ul><li>Report </li></ul>Enterprise Risk Management Dashboard measure
    12. 12. Capture all the Risks that are Relevant Chief Risk Officer What are all the risks we need to address? We could be in trouble if... Process Organization Entities We know the business, but what risks are relevant? Functional Organization Entities Regulators CEO / Executives RMC Platform Business risks Compliance risks Get Everyone Involved: Provide an Easy-to-Use Means for Documenting Risks Objectives Processes Strategy Regulations Make sure you comply Make sure we are in control
    13. 13. Risk Identification Providing employees with insight in how things are done in your organization makes identifying risks easier
    14. 14. Documenting risks and controls... Both on process maps as well as in risk libraries...
    15. 15. Assess & Evaluate Risks Your Way! Capture and document risks in a way that best suits your organization: Your risk response and risk communication depend on it Probability settings are risk-specific I need complete freedom in choosing impact measurement Our business requires a specific way of categorizing risks It would be great if we can allocate risks in multiple ways
    16. 16. Risk Assessment Risk assessments done decentrally via QPR Portal
    17. 17. Risk ranking Risk Location Accountability Score Impact Likelihood Mitigation Customize the way you rank and what information is shown to who...
    18. 18. Get a Clear View of How all New Identified Risks are being Addressed You have one year Auditor Chief Risk Officer We need to take action QPR Portal Control Activities Monitor progress: Make sure you are on track with control implementation Actions logging: Detailed insight into all Control Activities
    19. 19. Control activities by deadline Easy to review your progress in implementing risk mitigating control activities
    20. 20. Communicate Risks and Controls Effectively <ul><li>Add risks and controls to the process maps </li></ul><ul><li>Adapt processes where needed </li></ul><ul><li>Communicate to the relevant people to ensure awareness </li></ul>Review previously added risks and identify new ones Provide everyone with a clear understanding of what falls under their responsibility and what policies & procedures to follow to ensure compliance One tool that addresses all the risks and controls I am accountable for risk / control reuse
    21. 21. Get a Complete and Up-To-Date Overview of the Status of Risks and Controls An up-to-date and complete overview of all risk and compliance information Risk Dashboards for SOX, Learning & Growth, Production, Environment, Occupational Health Analysis, filtering, drill-down... effectively assess the overall risk & compliance profile I now know exactly what I am accountable for and get alerted when there’s a problem Chief Risk Officer Functional Managers CEO & Management Board Obtain the ability to react fast and anticipate events Get a good overview of your preparedness-level
    22. 22. Risk Dashboards Quick and flexible to create...
    23. 23. Maintain a Reliable Foundation for Decision Making and Internal Control Optimize the organization’s capability to generate value for its’ stakeholders Auditor Investors Is this organization in control? CEO We’re in control, we’re up-to-date and we can prove it Chief Risk Officer I get alerted to perform my risk and control assessments I can comment, share ideas and launch actions for improving controls Can I trust this information? Employee Employee CONFIDENCE All issues addressed appropriately All activities logged
    24. 24. QPR Benefits <ul><li>Reduction of the costs associated with RMC activities </li></ul><ul><li>Always a clear, complete and up-to-date overview of your business processes, risks and controls </li></ul><ul><li>Get everyone involved: Integrate RMC into the business </li></ul><ul><li>Facilitate effective reporting to management and auditors </li></ul><ul><li>Easy to use: Focus on the business user </li></ul><ul><li>Fast to implement </li></ul><ul><li> Lift RMC from being a set of tactical, ad-hoc initiatives to becoming a strategic advantage </li></ul>
    25. 25. QPR RMC Software Benefits All Employees <ul><li>Business executives can monitor the state or risk and compliance to drive strategic direction </li></ul><ul><li>Risk and compliance officers can be successful in the day-to-day management of risk and compliance by ensuring it’s integrated within processes </li></ul><ul><li>Internal and external auditors obtain up-to-date reports and can review follow-up activities for identified non-conformancies </li></ul><ul><li>Business unit and process managers can answer to risk and control assessments and monitor the state of risk and compliance in their own area </li></ul><ul><li>Employees, contractors, consultants & temporary workers have a convenient way of becoming aware of policies and compliance issues </li></ul><ul><li>Business partners can participate in conducting contract and control assessments </li></ul>
    26. 26. About IYCON <ul><li>Leading Consulting & Technology Solution Company in the Middle East, India and Oceania (Australia / New Zealand) </li></ul><ul><li>Provide High Quality Business & Technology Solutions across Middle East & India </li></ul><ul><li>Based out of Dubai Internet City, Dubai, United Arab Emirates (Middle East Operations) </li></ul><ul><li>Based out of Mumbai, India (Indian Operations) </li></ul><ul><li>Based out of Melbourne, Australia (Oceania Operations) </li></ul>
    27. 27. The IYCON Mission <ul><li>While today's markets belong to companies with a competitive advantage </li></ul><ul><li>The future belongs to companies with an Adaptive Advantage </li></ul><ul><li>We help companies discover and maintain their Adaptive Advantage </li></ul>Sustaining Your Adaptive Advantage ™
    28. 28. Why IYCON? <ul><li>One of only six global QPR Strategic VAR’s (out of a total worldwide partner network of 72 partners) </li></ul><ul><li>Has Techno-Commercial Consultants conversant with management methodology as well as QPR Tools </li></ul><ul><li>Has dedicated Certified Technical Consultants on QPR Products – first line of local support </li></ul><ul><li>Only QPR Partner worldwide to host dedicated QPR Self Serve Helpdesk (IYCON Helpdesk) for IYCON’s QPR Customers. </li></ul>
    29. 29. Our Ongoing Value Proposition to Customers Understand customer requirements Offer a complete Solution - Technology - Training - Consulting Quality Support Timely Response Timely Resolution Regular Health Checks to Sustain the Adaptive Advantage
    30. 30. Our International Delivery & Support Model <ul><li>Deployment Onsite </li></ul><ul><li>Training onsite on train the trainer basis </li></ul><ul><li>Self Serve Helpdesk for support tickets (technical & business support issues) </li></ul><ul><li>Contracted response and resolution times </li></ul><ul><li>Remote support capabilities with 100% resolution guarantee </li></ul><ul><li>Currently supporting organisations across 9 countries (Middle East, Indian Subcontinent & Oceania) </li></ul>
    31. 31. IYCON Help Desk <ul><li>IYCON provides all IYCON-QPR Customers in the region access to the IYCON Help Desk. </li></ul>
    32. 32. Self Serve Interface Track Response and Resolution times for support calls logged
    33. 33. Customers in Middle East & Asia
    34. 34. About QPR Quality. Processes. Results <ul><li>Founded 1991, QPR Software Plc is an international specialist providing software and solutions for </li></ul><ul><ul><li>Process management </li></ul></ul><ul><ul><li>Performance management </li></ul></ul><ul><ul><li>Risk management & Compliance to Quality and Regulation </li></ul></ul><ul><li>QPR´s and its resellers combined sales of QPR products and services totaling over EUR 20 million </li></ul><ul><li>QPR Software is listed on NASDAQ OMX Helsinki Ltd. (ticker: QPR1V). </li></ul>
    35. 35. Globally recognized as best-of-the-breed products: ANALYSIS PROCESS AUTOMATION PROCESS DESIGN PERFORMANCE MONITORING QPR ScoreCard Performance Management QPR ProcessGuide Process Management <ul><li>Product Launch </li></ul><ul><li>First recognition from Gartner Group in Leaders position in BPM/A tools </li></ul><ul><li>2003 Launch of QPR 7.0 with Collaborative Management System portal </li></ul><ul><li>Launch of QPR WorkFlow tool for Process automation </li></ul><ul><ul><li>Product Launch </li></ul></ul><ul><ul><li>Balanced Scorecard Collaboration Certification </li></ul></ul><ul><ul><li>First recognition from Gartner Group as a CPM Suite </li></ul></ul><ul><ul><li>Launch of QPR FactView tool for data analysis </li></ul></ul>2008 Launch of QPR 8.0 with MS SharePoint and MS Office integration 2008 QPR 8.0 translated to more than 20 languages
    36. 36. Customers
    37. 37. Private Sector Customers Worldwide
    38. 38. Public Sector Customers Worldwide                                                                                            THE FINNISH DEFENCE FORCES Social Investment Fund for Local Development
    39. 39. H.I.S. <ul><li>Profile: Globally operating travel operator </li></ul><ul><li>Need: Comply with Japanese SOC Act </li></ul><ul><ul><li>Identify and document business processes </li></ul></ul><ul><ul><li>and associated risks </li></ul></ul><ul><ul><li>Implement controls </li></ul></ul><ul><ul><li>Monitor control effectiveness and appropriateness </li></ul></ul><ul><ul><li>Demonstrate compliance with J-SOX </li></ul></ul><ul><li>Solution Benefits: QPR Risk Management and Compliance for J-SOX </li></ul><ul><ul><li>Complete and up-to-date overview of all relevant risks and controls </li></ul></ul><ul><ul><li>Continuous monitoring of compliance status: ability to react fast to non-conformancies </li></ul></ul><ul><ul><li>Insight in business processes and their performance: improved process efficiency and productivity </li></ul></ul><ul><ul><li>Implemented organization-wide in < 1 year </li></ul></ul>
    40. 40. Africa Rainbow Minerals <ul><li>Profile : Globally operating platinum, gold and </li></ul><ul><li>iron mining company </li></ul><ul><li>Need : Demonstrate performance of risk control, </li></ul><ul><li>tracking and measurement </li></ul><ul><ul><li>High risk operations: satisfy insurance stakeholders </li></ul></ul><ul><ul><li>International operations: comply with multitude of regulations </li></ul></ul><ul><ul><li>Stock-listed company: demonstrate compliance with listing requirements </li></ul></ul><ul><ul><li>Many partnerships: gain control over business complexity </li></ul></ul><ul><li>Solution Benefits : QPR Risk Management and Compliance </li></ul><ul><ul><li>Commitment from management teams to meet defined targets </li></ul></ul><ul><ul><li>Timely risk identification and evaluation  Timely action </li></ul></ul><ul><ul><li>Improved decision making and governance: Taking calculated risks in line with ARM stakeholder interests </li></ul></ul><ul><ul><li>Ability to demonstrate the effectiveness of the risk management process </li></ul></ul>
    41. 41. Thank You www.qpr.com www.iycon.com