Improving risk governance framework of an Insurance Group
Insurance Group with more than 2.5 mln in premium income
The Group Compliance Department required MACFIN’s support in assessingits organizational control structure through a pilot examination of a business process and subsequent assistance in conducting ex-post compliance verification activities.
Goals
Strengthen,
the compliance risk control framework, identifying areas for improvement and corrective actions to be implemented.
Ensure
adequate effectiveness and efficiency of the organizational compliance risk management framework.
Provide methodological support
in defining the approach to be implemented for subsequent ex-post audits on additional business processes.
Assist
the Compliance Function in implementing the compliance risk control framework and conducting audit activities.
Activity
Preliminary analysis
of the key elements of the evaluation and control model in use through the pilot project.
Evaluation
of the design and completeness of the verification activities previously conducted by the Company and the reporting produced.
Formalization
of identified attention points and proposed improvements of organizational, procedural, etc.
Defining
the methodological approach to ex-post compliance audits (how to set up compliance programs and detailed checklists, types and techniques of control and verification, sampling techniques).
Operational support
in implementing framework as part of conducting subsequent verification activities and related reporting to top management.
Results
Strengthening
the compliance risk control framework
Assurance
on the effectiveness and efficiency of the control system.
Optimization
of the Compliance Function's reporting to top management.
REQUEST A MEETING
Would you like more information or request a meeting with our consultants?
REQUEST INFORMATION
ABOUT OUR SERVICES
Would you like to have more information about our services and solutions? Enter your data and we will contact you as soon as possible.
Other Success Cases
Setting the "231" Framework of an International Gaming Player
Industry & Services | ESG, Risk & Compliance
Design of a Risk Reporting solution of an Insurance Group
Insurance | Risk & Compliance
Setting the "GDPR" Framework of a State-owned company
Non-Profit & Public | Risk & Compliance