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Presented by MUHAMMAD YAHYA AHMAD College of Education and Allied Program PCU, Manila.

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Presentation on theme: "Presented by MUHAMMAD YAHYA AHMAD College of Education and Allied Program PCU, Manila."— Presentation transcript:

1 Presented by MUHAMMAD YAHYA AHMAD College of Education and Allied Program PCU, Manila

2  Enterprise risk management (ERM) is the process of aligning competitive strategy with the mechanisms that identify, aggregate, mitigate, avoid and transfer risk.  The goal is to reduce losses while seizing opportunities  ERM guides directors and executives as they coordinate the myriad tasks to identify the potential risks encountered by individual employees, business units, geographic divisions and corporate leadership.

3 DEFINEPREVENTDETECT RESPONDEVALUATE Five steps for building a sustainable ethics and compliance process  Define ethics and compliance risk  Prevent ethics and compliance lapses/ failures  Detect noncompliance  Respond to allegations and violations  Evaluate results and continuously improve

4  Access risks  Map risks to employee  Policies, procedures  Aligned with risks

5  Accounting breakdowns, including fraud, inaccurate recordkeeping, inappropriate record retention or destruction and noncompliance with the requirements  Business ethics failures, such as the exposure of confidential client information, conflicts of interest and giving and accepting inappropriate gifts  Employment related risks, like equal opportunity violations, workplace harassment and immigration offenses  Fair trading laws, which cover price fixing, abuse of dominance and collusion  Customer and workplace violations, for example, aiding and abetting illegal customer acts and creating unsafe workplace conditions  Product issues such as product safety failures and intellectual property violations, e.g., patent infringement

6  ‘Tone at the top’  Education  Communication  Rewards

7  Set up the standards and procedures, and other aspects of the compliance and ethics program  Education: conducting effective training programs  Promoted an organizational culture that encourages ethical conduct and a commitment to compliance  Implementing feedback loops that maintain constant supervision over business units, job functions and individual employees that matching identifies as high-risk.

8  Engage corporate leadership to drive successful ethics education  Promote the benefits of interactive engagement drawn from new developments in e-learning  Combine the geographic breadth of ethics education with a focus on professional relevance  Move beyond the “carrot-and-stick” approach  Create certification programs that attest to effective education and compliance

9  Early-warning systems  Controls for rapid detection  Employee certification  Self-reporting channels  Compliance monitoring  Compliance audits

10  Preliminary assessment  Complete assessment and notification of appropriate personnel  Investigation strategy  Document collection and interviews  Written report and presentation of findings  Report to employees

11  Case identification,  Investigation and closure  Corrective actions  Perform root cause analysis  Communicate resolution

12  Metrics and benchmarks  Policies, practices and procedures against comprehension  Ongoing risk assessment  Reports and action  Systems improvement

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