NordCheck proposes adopting holistic view to compliance – providing effective means to define and implement compliance strategy, integrate risk management to processes and existing systems, implement relevant controls, improve transparency and reporting. Holistic Compliance consists of C-Suite for Compliance strategy planning, management and reporting, Contract management, Quality Management, Incident management and Integrated Risk management.
Holistic Compliance - The Big Picture
Holistic Compliance covers different elements over different organization processes
Compliance Maturity model
Compliance Maturity model defines steps from ad hoc compliance to fully integrated compliance management enabling orgaization's significant performance improvement.
Compliance Maturity Levels
- Ad Hoc.
Point, stand-alone solutions. Silos. Often relies on individual experts and heroic competencies. Gaps. Controls ad hoc or not existing. Very high regulatory risk.
Some controls in place. Certain key processes well managed. Low level of integration. Stand alone solutions. Excel-driven manual work. Relatively high cost, high risks.
- Proactive & structured
Functions defined and staffed. Trainings well-established. Systems still in silos, mostly stand-alone systems. Some integrations. Increasing cost of compliance. Operational – not strategic. Limited transparency and reporting.
- Holistic & optimized
Compliance strategy defined and monitored at C-level. Compliance platforms implemented. Substantial level of automated compliance. Well structured process to implement new regulatory requirements. Integrated risk management.
From level 3 to level 4 - Key Features
Strategic, C-level visibility and competencies to steer missing or limited. Dynamic reporting missing, or limited.
Risk management not integrated and transparent but manually or limited, based mostly on Excel sheet manual work.
- Cost of compliance remain high, difficult to perform effectively. Low employee satisfaction, lot of manually covered aspects.
- Platform to be set first priority, optimization as driver.
Stakeholders & Key Factors
Compliance Maturity model defines steps from ad hoc compliance to fully integrated compliance management enabling performance exellency
Compliance Assessment - Way to Holistic Compliance
Implementing New Regulation
Well-defined process for adopting new regulations
Delivery & Implementation
NordCheck solutions are delivered by Authorized NordCheck partners. NordCheck operates through and with global system integrators supporting their sales and delivery with NordCheck expertice, vision on compliance and technical competencies.
Currently, NordCheck is working with Atos and BearingPoint as its primary partners.