In order to enable Senior Managers to attest that their areas of responsibility are being conducted properly and are compliant with all necessary laws the firm will need to invest time in making sure that processes are properly mapped and understood and that controls are effective. This will be a particular challenge where parts of a process are outsourced or executed by another group entity.
Banks should focus on improving the clarity, process and documentation of their existing governance framework rather than building a parallel framework just to comply with the new regime.
Lysis can assist with:
- Responsibilities Map & Statement of Responsibilities
- Process and Controls Mapping
- Systems and Processes
- Training Needs Assessment and Training Delivery
- Pre-attestation Audits