Framework 231 review support for an Insurance Group
Insurance Group with more than 1 Billion in premium income operating in non-life and life business
The Supervisory Board, following the updating of the Company’s Organization and Control Model pursuant to Legislative Decree 231/01, requested the support of MACFIN to revise its internal control system.
This control framework is defined in the GRC system and consists of elements such as the taxonomy of business processes, organizational structure, and 231-sensitive activities. The scope of intervention involved the analysis and evaluation of approximately 550 elements surveyed in ARIS.
Objectives
Impact analysis
aimed at assessing the completeness and consistency of the 231 control framework defined in the GRC system, in order to identify the need for any subsequent adjustments and additions, including within internal regulations (company procedures and flowcharts).
GRC system integration
aimed at reviewing the 231 relevance, for certain activities/controls and their matching with Sensitive Activities
Activities
Review of activities and controls 231
the activities focused on the analysis of the information contained in the GRC system, in order to assess the completeness, as well as the correct identification of the controls designed to guard against crime risks
Definition of a Base-line controls and completeness analysis
analyses were conducted to assess the completeness and correctness of the controls in the GRC system, compared to a taxonomy of "key" 231 controls. This taxonomy of controls was prepared on our professional expertise in insurance and similar contexts, integrated with leading practices
Integration into the GRC system
activities had the objective of verifying 231 relevance for specific activities and controls, which at the time of project set up did not have this classification.
Results
Comprehensive mapping of the company's internal control system
defined in the GRC system and corporate regulations (Regulations, Policies, Code of Conduct and Behavior) for the benefit of Level II and III Control Functions and the Supervisory Board
Assurance for the Supervisory Board
on the completeness and integrity of the 231 control framework
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