Database Reference
In-Depth Information
InFission
Compliance PMO
United States
Sarbanes-Oxley
European Union
Eighth Directive
Canada
Bill 198
United Kingdom
Code 2010
Japan Financial
Instruments Law
Australia
CLERP
The InFission regulatory compliance program is designed to maintain oversight and
control over business processes, transactions, and information systems, which are in
scope for each regional regulation. Regional Compliance Managers determine scope
of the compliance program by identifying the compliance requirements, changes to
the local regulations and impact of these regulations on the organization. The impact
assessment is based on the risk of non-compliance, appropriate level of response
to mitigate the risks and budgeted cost of compliance management. Regional
Compliance Managers are also responsible for communicating and training regional
business process owners that are responsible for monitoring the controls to provide
assurance as to the effectiveness of compliance.
Each regional compliance program follows a company's standard approach for
compliance program management, which includes:
• Document controls such as objectives, policies, procedures, control
classification, control owner information, and control automation details
• Walk-through signiicant business processes to ensure that all the managers
responsible for controls within the business processes have the knowledge
and training to ensure that the controls are operating effectively for
compliance with the regional regulation
• Test and monitor business activities for ongoing control assessment, and
reporting across standardized compliance framework
• Manage incidents of compliance gaps reported by management and auditors
• Mitigate compliance risks through the measurement of loss events and root
cause analysis of control failure
This standard approach to regional compliance management helps InFission identify
and prioritize major risks resulting from regulatory mandates, as well as maintain
oversight and control over business processes to mitigate these risks.
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