Compliance monitoring goes beyond managing reputational risk. Monitoring programs are a critical management activity which are expected by regulators to be an integral part of your business operations. Monitoring and auditing are discrete activities and serve different purposes. Audit exercises are retrospective and often targeted. Monitoring is an extremely important function that informs management as to the action plans, policy changes, procedural changes, enhanced training and other possible areas that require attention. We work with your teams to help you devise monitoring arrangements that deliver information on what works and what needs attention, helping you understand potential compliance issues in advance and manage risk accordingly.
We can also ensure that your key performance indicators are matched by key risk indicators which address compliance needs and focus management on compliance risk. This supports a risk-based approach to compliance monitoring.