The client required a more standardized and effective governance process to reset the board and executive management roles and collaborate their attitudes towards governance risk and to generate an ethical and sustainable governance framework for its regulatory projects. The governance process was done manually and was therefore open to regulatorybreaches and prone to business-competitive advantage.
NS GLOBAL APPROACH
We provided a custom-built governance solution for effective and robust risk governance; for regulatory compliance reporting and analysis processes, and a highly experienced risk governance team. We managed the governance design programme from end-to- end, encompassing requirement gathering and implementation, to post-implementation C-Level training.
- We gathered complete business requirements for the client’s governance regulatory reporting and analysis needs.
- After client consultation we designed a bespoke governance framework to restructure the organisation’s structure, roles and accountabilities, and agreed on key metrics to evaluate governance impact on business strategy.
- We also developed a risk appetite statement, aligned with management frameworks to ensure the risk-awareness message is sent to the client’s board and to the rest of the organisation.
- We performed risk and control audits to ensure that the new governance framework is effective, implemented and fully communicated across the client’s organisation.
- We trained 3 of the client’s staff as experts in governance of the new governance framework and control functions, as well as creating a detailed policy manual for these experts to further train the client’s staff.
The business requirements were successfully fulfilled. A corporate governance framework is now implemented. An estimated 5 million pounds have been saved through governance solutions.