Governance and Controls Review
Poor conduct or failures in oversight are merely symptoms of unfit governance or poor organizational culture. Setting up a good culture is challenging and requires collaboration across all levels of the organization.
Strategy
Ensure that management strategy is coherent, aligned to the core business proposition, measurable and well understood by staff.
Roles and responsibilities
Ensuring roles and responsibilities are clear and well documented to cover all main company activities. This begins with ensuring the organization has an organizational structure that enables effective team collaboration and appropriate escalation.
Oversight
Oversight has become more complex due to increased data volumes and regulatory accountability. For that reason, ensuring the correct data has been identified and suitable technology is in place is vital. Organizational structure is to be leveraged effectively to maximize value:
- Setting up the proper committees at the right frequency with relevant attendance
- Having the relevant controls and the process to review any gaps in the control framework
- Developing appropriate reporting tools/documents to ensure prompt escalation and identification of risk/issues
Documentation
Ensuring the relevant policies and procedures are in place and accessible by staff as appropriate.
Funding
Ensuring business capital is adequately distributed to support infrastructure, process and skills development as necessitated by business needs for strategic planning to be supported adequately
