PROCESS-LEVEL HEALTH CHECKS
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 to
a third-party or executed by another group entity.
- Are the processes for the business you manage accurately mapped out, including processes with other entities within your firm and with third-parties?
- Do they map to the governance, risk and risk appetite frameworks?
- Are there documented controls for those processes and are they regularly tested?
- Are the processes and controls understood and adhered to?
- Are your personnel adequately skillful, knowledgeable and trained to do their jobs?
- Training Needs Assessment – a multi-part, assessment process which uses quantitative data from on-line tests and qualitative data form surveys and interviews to assess the knowledge and skills of a team and recommend a training programme to resolve those issues.