Governance, Risk & Compliance System

Risk comes from uncertainty in reaching your objectives. Finding the perfect balance by getting a clear picture of your risk and opportunities. Building an effective Enterprise Risk Management (ERM) Framework involves an integrated, holistic process, involving the use of technology to inculcate and sustain permanent culture change within the organisation. Ensuring risk management is embedded in a practical manner in all key areas within the organisation is critical to ensuring there is a systematic manner in which business decisions are made.

For the past decades, financial institutions, especially banks have become increasingly aware of the need to manage operation risks. These risks, if exposed, may bring catastrophic impacts to the organisation, not just in the form of monetary losses, but also bank’s overall business operation and reputation, and worst-case scenario threatening its very existence.

Subsequently, increased regulations from regulators such as Central Banks, Listing Exchanges etc have placed greater emphasis on ensuring there are adequate processes and systems to identify, monitor and mitigate operational risks within organisations. This OpRisk approach needs to be a strategic approach to create a fully integrated information architecture to accumulate and aggregate risks for effective analysis.

With increasing interconnectivity of economies and businesses, Business Continuity Management is increasingly vital to ensure that an organisation is prepared for any disruption that may occur. This may come in the form of a supply chain disruption, external events through to internal crisis. Being ready gives your organisation a sustainable edge.

Compliance requirements are affecting an increasing number of business processes. Many specialized processes are being designed solely to meet industry specific regulations. As Organisations rush to meet compliance requirements, there are often significant duplication in Compliance activities and process, leading to reduction in efficiency, and escalate the cost of compliance. This inefficiency also leads to a difficulty in tracking internal Compliance Audits, leading to potential gaps that may cost the Organisation significantly both financially and in non-financial terms.

In many organizations, Directors and Top Management are typically ‘fighting fire’ and in many cases, the last to know when there are problems occurring within the organization. This could be in the form of fraud occurring, safety failures, theft, staff productivity loss through poor work processes, staff abuses etc. If these are not actively identified and resolved quickly, the organization may face severe consequences like loss of key clients, loss of key staff, potential litigations and negative public image.

In conventional learning, training is conducted in classroom manner and both trainer and trainees have to be physically present. However, with e-learning, training can be conducted in a more flexible manner whereby, course content can be accessible by trainees anytime, anywhere, with stipulated course completion and trainer can focus on preparing course content in the e-learning software.