Large, geographically dispersed organizations have a particularly challenging time collecting, measuring, and reporting on ethics and compliance-related risks due to the scope, breadth, and complexity of operations. Challenges are multiplied when individuals from various functions conducting risk assessments interact separately with members of management and critical subject matter experts to complete topic specific risk assessment activities.
A collaborative approach to risk assessment allows departments such as compliance, risk, internal audit, security, quality, privacy, and regulatory to work together to identify and evaluate company risks, minimize redundant requests, improve communications, and produce more effective results while gaining process-related efficiencies for the stakeholders involved.
This webinar reviews the expectations driving effective and efficient compliance risk assessment, highlights important processes fundamental to robust risk assessment, and discusses the benefits that are possible when independently conducted risk assessments are completed in a collaborative fashion across internal functions accountable for assurance-related activities. It explores the option of using software to more efficiently support collaborative risk assessment.