fruiStrategy^® Risk & Compliance

Strategy Execution process must identify the strategic, operational, and compliance risks and make sure that the action to mitigate, eliminate, or manage the risks to be clearly embedded. Ignoring risks and compliances in strategy execution process will create a big problem with the business continuity. fruiStrategy® Risk & Compliance takes care of the gap and address the solution in an integrated approach.

Risk Management: Enterprise risk management (ERM) looks at risk management strategically from the perspective of the entire firm or organization. It is a top-down strategy that aims to identify, assess, and prepare for potential losses, dangers, hazards, and other potentials for harm that may interfere with an organization's operations and objectives and/or lead to losses.

Risk Register: A risk register is a tool in risk management and project management. It is used to identify potential risks in a project or an organization, sometimes to fulfil regulatory compliance but mostly to stay on top of potential issues that can derail intended outcomes. While the risk register is mostly used during the execution of the project, it’s part of your risk management plan, which must be given serious consideration by project managers during the project planning phase. Once you have your risk register to identify and track risk events, fruiStrategy Risk & Compliance helps you take the necessary actions. Key risk indicators can be identified with performance metrics can be defined for each KRIs which can be closely monitored as part of strategy execution cycle.

Risk Action Plan: A risk action plan is the course of action which an organization agrees upon to help them address the potential risks, reduce the likelihood of these risks occurring and to lessen the impact if they do occur. A plan is created to ensure that the right actions are carried out in a timely manner. Risk owners can update the status, actions, and investments done to manage risks on monthly basis. The senior leadership can review and send action messages to address the concerns on Risks. This way the risk management is embedded in the strategy execution process and it will become part of strategy review process.

Compliance Management

Enterprise compliance is a centralized, co-ordinated approach to ethics and compliance program design and assessment that cuts across multiple business units within an organization. A programmatic approach, built from the top down, enterprise compliance risk management focuses on the specific risks the organization faces.

Compliance Register: Compliance register has documents used to record certain actions and incidents that are vital source of evidence in the regulatory compliance process. All forms of compliance breaches and subsequent actions are recorded which supports compliance.

Compliance Action Plan: Compliance action planning includes putting together compliance methodologies in place for the organization to act. You can use these methodologies to comply with not just a single regulation but with many.