Risk Culture & Governance
Regulators and supervisors remain focused on strengthening firms’ governance, culture and risk management frameworks. A key enabler of a sound risk management and control is an effective system of governance. Implementing effective governance can facilitate streamlined information flows, clear ownership and timely and accurate risk reporting.
Greater priority will be attached to risk culture, diversity and inclusion, and the “tone from above” (as well as from the top). The internal control environment is also under pressure due to more people operating remotely. Many controls were originally not designed for operation in a remote-working context.
Operational efficiency and effectiveness
Define and/or enhance the 1st LOD internal controls, alignment with 2nd LOD risk taxonomy, integration of existing controls in business as usual
Evaluation of the effectiveness of internal controls in
Compliance by Design
Support with the risk control self-assessment
Risk Culture & Risk Target Operating Model
Assess and enhance the risk culture and risk operating model within the organisation (including organisation, human and technical skill set, priorities, effectiveness control programs, etc.)
Support with the ORSA (Own Risk and Solvency Assessment)
Non-financial risk framework & taxonomy
Support with the development of an integrated non-financial risk (NFR) management framework (including risk taxonomy, relevant controls, alignment with overall risk appetite statement, etc.)
Review of outsourcing framework in line with the most recent regulatory framework
Critical outsourcing assessment, selection process and due diligence
Support with the preparation of the NBB filing
Management information & reporting
Support with the development of (automated) reporting flows / escalation lines
Assess and enhance the accuracy and usefulness of the MI (management information) provided to both Management and the Board
Joining Ensur and supporting the development and growth of the Risk & Compliance Business Line has been an incredible journey so far! I am continuously learning by taking up new responsibilities and get to work in a flexible and friendly environment. I just can’t wait to see what the future has in store for our new team!
Caroline Heins - Manager Risk and Compliance