What is involved in Risk Management and Compliance
Find out what the related areas are that Risk Management and Compliance connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Risk Management and Compliance thinking-frame.
How far is your company on its Risk Management and Compliance journey?
Take this short survey to gauge your organization’s progress toward Risk Management and Compliance leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.
To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.
Start the Checklist
Below you will find a quick checklist designed to help you think about which Risk Management and Compliance related domains to cover and 196 essential critical questions to check off in that domain.
The following domains are covered:
Risk Management and Compliance, Governance, risk management, and compliance, Chief compliance officer, Chief governance officer, Climate governance, Clinical governance, Collaborative governance, Conformity assessment, Corporate governance, Cultural governance, Data governance, Earth system governance, Ecclesiastical polity, Enterprise risk management, Environmental, social and corporate governance, Environmental governance, Global governance, Good governance, Governance in higher education, ISO 19600, Information Technology, Information governance, Information system, Local governance, Market governance mechanism, Multistakeholder governance model, Network governance, Ocean governance, Open-source governance, Political party governance, Private governance, Project governance, Records management, Regulatory compliance, Risk appetite, Risk management, SOA governance, Security sector governance and reform, Simulation governance, Soil governance, Sustainable Governance Indicators, Technology governance, Transnational governance, Website governance, World Governance Index:
Risk Management and Compliance Critical Criteria:
Accumulate Risk Management and Compliance visions and get out your magnifying glass.
– Is it understood throughout the organization that negative behavior is penalized and positive behavior rewarded despite earnings and performance?
– Have you fully developed a Risk Management plan for any outsourcing agreement from inception to termination – for whatever reason?
– Do we look at how changes impact risk, for example, does the addition of a new service add a professional liability exposure?
– Does management conduct regular Risk Management conference calls among a network of risk champions and other employees?
– The intent of risk tracking is to ensure successful risk mitigation. Does it answer the question how are things going?
– What happens if any application, program, or website is not available to those who need the information?
– To what extent is Cybersecurity risk incorporated into organizations overarching enterprise Risk Management?
– Have standards for information security across all entities been established or codified into regulations?
– Risk prevention: what is the availability, clarity and robustness of a Risk Management strategy?
– Will our actions, process, program or procedure negatively affect our credibility?
– What are the most important benefits of effective organizational Risk Management?
– What further options might be available for responding to the risks?
– Do you adhere to, or apply, the ISO 31000 Risk Management standard?
– Do we evaluate security risks associated with proposed software?
– Which rules appear frequently? Which are anomalies?
– Is the risk above an acceptable level?
– Are we working on the right risks?
– Why is Risk Management needed?
– How much does it help?
– Why Manage Risk ?
Governance, risk management, and compliance Critical Criteria:
Differentiate Governance, risk management, and compliance management and secure Governance, risk management, and compliance creativity.
– What are all of our Risk Management and Compliance domains and what do they do?
– Are we Assessing Risk Management and Compliance and Risk?
Chief compliance officer Critical Criteria:
Check Chief compliance officer goals and perfect Chief compliance officer conflict management.
– Do several people in different organizational units assist with the Risk Management and Compliance process?
– Have the types of risks that may impact Risk Management and Compliance been identified and analyzed?
– What sources do you use to gather information for a Risk Management and Compliance study?
Chief governance officer Critical Criteria:
Examine Chief governance officer management and get going.
– How likely is the current Risk Management and Compliance plan to come in on schedule or on budget?
– Will Risk Management and Compliance deliverables need to be tested and, if so, by whom?
– How can you measure Risk Management and Compliance in a systematic way?
Climate governance Critical Criteria:
Troubleshoot Climate governance projects and visualize why should people listen to you regarding Climate governance.
– Record-keeping requirements flow from the records needed as inputs, outputs, controls and for transformation of a Risk Management and Compliance process. ask yourself: are the records needed as inputs to the Risk Management and Compliance process available?
– How do we go about Comparing Risk Management and Compliance approaches/solutions?
– How to deal with Risk Management and Compliance Changes?
Clinical governance Critical Criteria:
Rank Clinical governance planning and achieve a single Clinical governance view and bringing data together.
– What are the top 3 things at the forefront of our Risk Management and Compliance agendas for the next 3 years?
– What new services of functionality will be implemented next with Risk Management and Compliance ?
– What potential environmental factors impact the Risk Management and Compliance effort?
Collaborative governance Critical Criteria:
Sort Collaborative governance governance and find out.
– Think about the kind of project structure that would be appropriate for your Risk Management and Compliance project. should it be formal and complex, or can it be less formal and relatively simple?
– How do you determine the key elements that affect Risk Management and Compliance workforce satisfaction? how are these elements determined for different workforce groups and segments?
– Have you identified your Risk Management and Compliance key performance indicators?
Conformity assessment Critical Criteria:
Familiarize yourself with Conformity assessment visions and inform on and uncover unspoken needs and breakthrough Conformity assessment results.
– What role(s) do or should national/international standards and organizations that develop national/international standards play in critical infrastructure Cybersecurity conformity assessment?
– Who will be responsible for making the decisions to include or exclude requested changes once Risk Management and Compliance is underway?
– Does Risk Management and Compliance appropriately measure and monitor risk?
– What about Risk Management and Compliance Analysis of results?
Corporate governance Critical Criteria:
Sort Corporate governance risks and probe the present value of growth of Corporate governance.
– Why is it important to have senior management support for a Risk Management and Compliance project?
– Is a Risk Management and Compliance Team Work effort in place?
Cultural governance Critical Criteria:
Demonstrate Cultural governance decisions and proactively manage Cultural governance risks.
– What are the disruptive Risk Management and Compliance technologies that enable our organization to radically change our business processes?
– Is Risk Management and Compliance dependent on the successful delivery of a current project?
Data governance Critical Criteria:
Jump start Data governance planning and correct Data governance management by competencies.
– Have data stewards (e.g.,program managers) responsible for coordinating data governance activities been identified and assigned to each specific domain of activity?
– Does the organization have policies and procedures in place to ensure that data are accurate, complete, timely, and relevant to stakeholder needs?
– Is collecting this data element the most efficient way to influence practice policy, or research?
– How is the organization kept informed of information/data governance issues or decisions?
– Are there opportunities from making this available to a broader audience?
– Document distribution how does taxonomy shape match that of content?
– How can we improve data sharing methodologies between departments?
– How do most enterprises manage hierarchical master data today?
– Can the data element be clearly and commonly defined?
– Is there a process in place to examine query logs?
– How does it get refreshed when there is a crash?
– Who are the users & what are they looking for?
– Do you use the best tools money can buy?
– Why create a data governance system?
– Who owns the data that is collected?
– How long are the agreements valid?
– Is unnecessary capability harmful?
– Who determines access controls?
– What is badly designed data?
Earth system governance Critical Criteria:
Graph Earth system governance projects and plan concise Earth system governance education.
– Consider your own Risk Management and Compliance project. what types of organizational problems do you think might be causing or affecting your problem, based on the work done so far?
– What will drive Risk Management and Compliance change?
Ecclesiastical polity Critical Criteria:
X-ray Ecclesiastical polity decisions and frame using storytelling to create more compelling Ecclesiastical polity projects.
– How do we measure improved Risk Management and Compliance service perception, and satisfaction?
– Who are the people involved in developing and implementing Risk Management and Compliance?
– What are the record-keeping requirements of Risk Management and Compliance activities?
Enterprise risk management Critical Criteria:
Communicate about Enterprise risk management decisions and differentiate in coordinating Enterprise risk management.
– Has management conducted a comprehensive evaluation of the entirety of enterprise Risk Management at least once every three years or sooner if a major strategy or management change occurs, a program is added or deleted, changes in economic or political conditions exist, or changes in operations or methods of processing information have occurred?
– Does the information infrastructure convert raw data into more meaningful, relevant information to create knowledgeable and wise decisions that assists personnel in carrying out their enterprise Risk Management and other responsibilities?
– Has management considered from external parties (e.g., customers, vendors and others doing business with the entity, external auditors, and regulators) important information on the functioning of an entitys enterprise Risk Management?
– Are findings of enterprise Risk Management deficiencies reported to the individual responsible for the function or activity involved, as well as to at least one level of management above that person?
– Do regular face-to-face meetings occur with risk champions or other employees from a range of functions and entity units with responsibility for aspects of enterprise Risk Management?
– Is a technical solution for data loss prevention -i.e., systems designed to automatically monitor for data leakage -considered essential to enterprise risk management?
– Has management taken appropriate corrective actions related to reports from external sources for their implications for enterprise Risk Management?
– Has management taken an occasional fresh look at focusing directly on enterprise Risk Management effectiveness?
– To what extent is Cybersecurity risk incorporated into organizations overarching enterprise risk management?
– What is the source of the strategies for Risk Management and Compliance strengthening and reform?
– Is the Risk Management and Compliance organization completing tasks effectively and efficiently?
– To what extent is Cybersecurity Risk Management integrated into enterprise risk management?
– Do policy and procedure manuals address managements enterprise Risk Management philosophy?
– Which individuals, teams or departments will be involved in Risk Management and Compliance?
– How is the enterprise Risk Management model used to assess and respond to risk?
– When you need advice about enterprise Risk Management, whom do you call?
– What is our enterprise Risk Management strategy?
Environmental, social and corporate governance Critical Criteria:
Extrapolate Environmental, social and corporate governance tasks and describe which business rules are needed as Environmental, social and corporate governance interface.
– What other organizational variables, such as reward systems or communication systems, affect the performance of this Risk Management and Compliance process?
– To what extent does management recognize Risk Management and Compliance as a tool to increase the results?
Environmental governance Critical Criteria:
Pay attention to Environmental governance planning and ask what if.
– Can we do Risk Management and Compliance without complex (expensive) analysis?
– Have all basic functions of Risk Management and Compliance been defined?
Global governance Critical Criteria:
Learn from Global governance tactics and find out.
– Does Risk Management and Compliance include applications and information with regulatory compliance significance (or other contractual conditions that must be formally complied with) in a new or unique manner for which no approved security requirements, templates or design models exist?
– Is there any existing Risk Management and Compliance governance structure?
– How can skill-level changes improve Risk Management and Compliance?
Good governance Critical Criteria:
Face Good governance goals and reinforce and communicate particularly sensitive Good governance decisions.
– How do we Lead with Risk Management and Compliance in Mind?
Governance in higher education Critical Criteria:
Communicate about Governance in higher education projects and spearhead techniques for implementing Governance in higher education.
– Is maximizing Risk Management and Compliance protection the same as minimizing Risk Management and Compliance loss?
ISO 19600 Critical Criteria:
Detail ISO 19600 decisions and learn.
Information Technology Critical Criteria:
Ventilate your thoughts about Information Technology failures and use obstacles to break out of ruts.
– Do the response plans address damage assessment, site restoration, payroll, Human Resources, information technology, and administrative support?
– Does your company have defined information technology risk performance metrics that are monitored and reported to management on a regular basis?
– If a survey was done with asking organizations; Is there a line between your information technology department and your information security department?
– How do senior leaders actions reflect a commitment to the organizations Risk Management and Compliance values?
– How does new information technology come to be applied and diffused among firms?
– The difference between data/information and information technology (it)?
– What are the long-term Risk Management and Compliance goals?
– When do you ask for help from Information Technology (IT)?
Information governance Critical Criteria:
Look at Information governance adoptions and assess and formulate effective operational and Information governance strategies.
– How does your organization assess staff training needs and ensure job/role specific information governance training is provided to all staff?
– How is the chief executive or equivalent management board consulted and/or informed of information governance issues?
– What governance arrangements do you have in place to support the current and evolving information governance agenda?
– What is the organizations most effective method of training for information governance knowledge and skills?
– In relation to information governance, what are the key challenges or changes facing your organization?
– What is the organizations preferred method of training for information governance knowledge and skills?
– What knowledge, skills and characteristics mark a good Risk Management and Compliance project manager?
Information system Critical Criteria:
Pilot Information system quality and improve Information system service perception.
– Have we developed a continuous monitoring strategy for the information systems (including monitoring of security control effectiveness for system-specific, hybrid, and common controls) that reflects the organizational Risk Management strategy and organizational commitment to protecting critical missions and business functions?
– On what terms should a manager of information systems evolution and maintenance provide service and support to the customers of information systems evolution and maintenance?
– Has your organization conducted a cyber risk or vulnerability assessment of its information systems, control systems, and other networked systems?
– Are information security events and weaknesses associated with information systems communicated in a manner to allow timely corrective action to be taken?
– Would an information systems (is) group with more knowledge about a data production process produce better quality data for data consumers?
– Are information systems and the services of information systems things of value that have suppliers and customers?
– What does the customer get from the information systems performance, and on what does that depend, and when?
– Why Learn About Security, Privacy, and Ethical Issues in Information Systems and the Internet?
– What are information systems, and who are the stakeholders in the information systems game?
– How secure -well protected against potential risks is the information system ?
– Are there recognized Risk Management and Compliance problems?
– Is authorized user access to information systems ensured?
– How are our information systems developed ?
– Is security an integral part of information systems?
Local governance Critical Criteria:
Learn from Local governance failures and budget the knowledge transfer for any interested in Local governance.
– How will we insure seamless interoperability of Risk Management and Compliance moving forward?
– Who needs to know about Risk Management and Compliance ?
Market governance mechanism Critical Criteria:
Review Market governance mechanism goals and pay attention to the small things.
– Can we add value to the current Risk Management and Compliance decision-making process (largely qualitative) by incorporating uncertainty modeling (more quantitative)?
– How do we ensure that implementations of Risk Management and Compliance products are done in a way that ensures safety?
Multistakeholder governance model Critical Criteria:
Systematize Multistakeholder governance model governance and define what our big hairy audacious Multistakeholder governance model goal is.
– Is there a Risk Management and Compliance Communication plan covering who needs to get what information when?
– How can we improve Risk Management and Compliance?
Network governance Critical Criteria:
Analyze Network governance tasks and cater for concise Network governance education.
– Which customers cant participate in our Risk Management and Compliance domain because they lack skills, wealth, or convenient access to existing solutions?
– How would one define Risk Management and Compliance leadership?
Ocean governance Critical Criteria:
Conceptualize Ocean governance projects and visualize why should people listen to you regarding Ocean governance.
– What are your current levels and trends in key measures or indicators of Risk Management and Compliance product and process performance that are important to and directly serve your customers? how do these results compare with the performance of your competitors and other organizations with similar offerings?
– Do you monitor the effectiveness of your Risk Management and Compliance activities?
– Why are Risk Management and Compliance skills important?
Open-source governance Critical Criteria:
Reconstruct Open-source governance goals and define what our big hairy audacious Open-source governance goal is.
– How can we incorporate support to ensure safe and effective use of Risk Management and Compliance into the services that we provide?
– What are your most important goals for the strategic Risk Management and Compliance objectives?
Political party governance Critical Criteria:
Incorporate Political party governance visions and find the ideas you already have.
– Who is the main stakeholder, with ultimate responsibility for driving Risk Management and Compliance forward?
– What tools and technologies are needed for a custom Risk Management and Compliance project?
Private governance Critical Criteria:
Design Private governance results and intervene in Private governance processes and leadership.
– What are the usability implications of Risk Management and Compliance actions?
Project governance Critical Criteria:
Jump start Project governance strategies and budget for Project governance challenges.
– How do we Improve Risk Management and Compliance service perception, and satisfaction?
Records management Critical Criteria:
Investigate Records management projects and integrate design thinking in Records management innovation.
– Have records center personnel received training on the records management aspects of the Quality Assurance program?
– How do we keep improving Risk Management and Compliance?
Regulatory compliance Critical Criteria:
Analyze Regulatory compliance management and define Regulatory compliance competency-based leadership.
– Does Risk Management and Compliance create potential expectations in other areas that need to be recognized and considered?
– In the case of public clouds, will the hosting service provider meet their regulatory compliance requirements?
– Regulatory compliance: Is the cloud vendor willing to undergo external audits and/or security certifications?
– What is Regulatory Compliance ?
Risk appetite Critical Criteria:
Merge Risk appetite governance and know what your objective is.
– How do we revise the risk appetite statement so that we can link it to risk culture, roll it out effectively to the business units and bring it to life for them. How do we make it meaningful in connecting it with what they do day-to-day?
– What may be the consequences for the performance of an organization if all stakeholders are not consulted regarding Risk Management and Compliance?
– Is there a clearly defined IT risk appetite that has been successfully implemented?
– Risk appetite: at what point does the risk become unacceptable?
– What are our Risk Management and Compliance Processes?
Risk management Critical Criteria:
Transcribe Risk management issues and overcome Risk management skills and management ineffectiveness.
– How do risk analysis and Risk Management inform your organizations decisionmaking processes for long-range system planning, major project description and cost estimation, priority programming, and project development?
– Are we communicating about our Cybersecurity Risk Management programs including the effectiveness of those programs to stakeholders, including boards, investors, auditors, and insurers?
– At what point will vulnerability assessments be performed once Risk Management and Compliance is put into production (e.g., ongoing Risk Management after implementation)?
– How do you determine which systems, components and functions get priority in regard to implementation of new Cybersecurity measures?
– Does our organization have a Cybersecurity Risk Management process that is functioning and repeatable?
– Does Senior Management take action to address IT risk indicators identified and reported?
– What information handled by or about the system should not be disclosed and to whom?
– Do you have an enterprise-wide risk management program that includes Cybersecurity?
– Do we have sufficient processes in place to enforce security controls and standards?
– Does your organization destroy data according to policies in place?
– What performance requirements do you want from the company?
– How do you determine the effectiveness of your strategies?
– What scope do you want your strategy to cover?
– Is our Cybersecurity plan tested regularly?
– What Are We Protecting?
– What risks do we face?
SOA governance Critical Criteria:
Understand SOA governance issues and develop and take control of the SOA governance initiative.
– Where do ideas that reach policy makers and planners as proposals for Risk Management and Compliance strengthening and reform actually originate?
Security sector governance and reform Critical Criteria:
Contribute to Security sector governance and reform strategies and check on ways to get started with Security sector governance and reform.
– In a project to restructure Risk Management and Compliance outcomes, which stakeholders would you involve?
– What business benefits will Risk Management and Compliance goals deliver if achieved?
Simulation governance Critical Criteria:
Scan Simulation governance tactics and customize techniques for implementing Simulation governance controls.
– Do Risk Management and Compliance rules make a reasonable demand on a users capabilities?
Soil governance Critical Criteria:
Transcribe Soil governance management and gather practices for scaling Soil governance.
– Are there any easy-to-implement alternatives to Risk Management and Compliance? Sometimes other solutions are available that do not require the cost implications of a full-blown project?
– Are there Risk Management and Compliance Models?
Sustainable Governance Indicators Critical Criteria:
Merge Sustainable Governance Indicators failures and raise human resource and employment practices for Sustainable Governance Indicators.
– Think about the people you identified for your Risk Management and Compliance project and the project responsibilities you would assign to them. what kind of training do you think they would need to perform these responsibilities effectively?
– Do the Risk Management and Compliance decisions we make today help people and the planet tomorrow?
– What are internal and external Risk Management and Compliance relations?
Technology governance Critical Criteria:
Add value to Technology governance strategies and change contexts.
– Who sets the Risk Management and Compliance standards?
– What are current Risk Management and Compliance Paradigms?
Transnational governance Critical Criteria:
Focus on Transnational governance adoptions and display thorough understanding of the Transnational governance process.
– Are there Risk Management and Compliance problems defined?
Website governance Critical Criteria:
Reconstruct Website governance planning and sort Website governance activities.
– What are the short and long-term Risk Management and Compliance goals?
World Governance Index Critical Criteria:
Chart World Governance Index leadership and display thorough understanding of the World Governance Index process.
This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Risk Management and Compliance Self Assessment:
Author: Gerard Blokdijk
CEO at The Art of Service | http://theartofservice.com
Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.
To address the criteria in this checklist, these selected resources are provided for sources of further research and information:
Governance, risk management, and compliance External links:
Career Path – Governance, Risk Management, and Compliance …
Chief compliance officer External links:
Chief Compliance Officer Support – Consumer Banking
Chief Compliance Officer Jobs – Monster.com
Chief governance officer External links:
Chief Governance Officer, OSGE | Devex
Climate governance External links:
After Copenhagen: Climate Governance and the Road …
Clinical governance External links:
[PPT]Clinical Governance – University of Pittsburgh
Clinical Governance Essays – ManyEssays.com
Collaborative governance External links:
Welcome to Collaborative Governance
Collaborative Governance: The Case of WNC EdNET « …
Corporate governance External links:
Corporate Governance – Chicago United
Briefing: Governance | Davis Polk | Corporate Governance
Program on Corporate Governance – About the Program
Cultural governance External links:
The Audit Committee and Cultural Governance – WSJ
Data governance External links:
Dataguise | Sensitive Data Governance
[PDF]Data Governance Overview – Oklahoma – Welcome to …
Data Governance – Do Job Titles Matter? – DATAVERSITY
Earth system governance External links:
Earth System Governance Project – Home | Facebook
Earth System Governance | The MIT Press
Enterprise risk management External links:
ERM Software | Enterprise Risk Management & GRC …
Enterprise Risk Management Compliance and …
Enterprise Risk Management Software | Ncontracts
Environmental, social and corporate governance External links:
Environmental, social and corporate governance – …
Environmental governance External links:
Environmental governance | UN Environment
Global governance External links:
Global Governance Software
Global Governance Watch©
Good governance External links:
Governance.io – Software for good Governance
The Good Governance Awards, 2017
The Coalition for Good Governance
Information Technology External links:
SOLAR | Division of Information Technology
Rebelmail | UNLV Office of Information Technology (OIT)
Box @ IU | University Information Technology Services
Information governance External links:
InfoGovCon: The Information Governance Conference 2017
Information Governance (IG) – American Health …
Information Governance | InfoGov Basics
Information system External links:
National Motor Vehicle Title Information System
National Motor Vehicle Title Information System (NMVTIS)
National Motor Vehicle Title Information System
Local governance External links:
Equality Indicators – Institute for State and Local Governance
Local Governance Research Labatory
DeLoG – Decentralisation & Local Governance
Network governance External links:
POD Network Governance – POD Network: Professional …
Globalization, Edu-Business and Network Governance: …
Ocean governance External links:
Ocean Governance for Sustainability – Challenges, …
Ocean Governance | U.S. Department of the Interior
Private governance External links:
[PDF]Merging Public and Private Governance: How Disney’s …
Project governance External links:
400: IT PROJECT GOVERNANCE – OIT
NuGet Project Governance | Microsoft Docs
[PDF]Payroll Services Consolidation Project Governance …
https://services.oregon.gov/das/Docs/Governance Structure PSCP.pdf
Records management External links:
Title and Records Management | Loan Portfolio Servicing
National Archives Records Management Information Page
Document Storage – Records Management – Shredding | …
Regulatory compliance External links:
Anti-kickback & Stark Compliance — Regulatory Compliance
Regulatory Compliance testing and certification
Trinity Consultants – Regulatory Compliance …
Risk appetite External links:
[PDF]RISK APPETITE AND TOLERANCE – NYBA | New York …
Risk Appetite – BrightTALK
Risk management External links:
Risk Management Job Titles | Enlighten Jobs
20 Best Title:(risk Management Manager) jobs (Hiring …
Driver Risk Management Solutions | AlertDriving
SOA governance External links:
SOA Governance Standards | OCIO
Soil governance External links:
Technology governance External links:
Information Technology Governance Committee (ITGC)
[PDF]Information Technology Governance
Information Technology Governance Maturity: Examining …
Transnational governance External links:
Private Transnational Governance of Economic …
School of Transnational Governance