Proving policy compliance
Effective policy management avoids penalties and protects your business by proving your organization is policy-compliant.
What does ‘good’ look like?
A good policy management program reduces business risk by providing clarity regarding expected behaviors. Such a program aligns with a business’s goals and appetite for risk, demonstrating compliance while accommodating justifiable policy exceptions.
- Management’s policy expectations are communicated clearly.
- Policies are effective at reducing risk and maintaining compliance.
- Evidence of policy compliance is maintained.
- Decisions on policy exemptions are based on a clear understanding of risk.
Policy and exception management helps organizations avoid litigation, fines and reputational damage by proving that you are policy-compliant. It’s no small task to document the lifecycle of all corporate policies and link them to key business areas, assets, controls and risks. STREAM can help you create a centralized repository of all policies, linking them appropriately, and streamline access, tracking and reporting. Exceptions can also be documented, reviewed and approved through this repository.
Processes and features
Here are some of the steps involved in policy management using STREAM.
Create a repository
STREAM helps you create a centralized repository of policies across their lifecycles, including creation, approval, attestation and maintenance.
Use a workflow to raise, track and approve policy exception requests.
Monitor Policy Change
Stay aware of policy changes to enable a quick response to policy questions or disputes.
Assess business Impact
Review the impact of policies in real business situations to improve and optimize individual policies.
Run attestation tracking
Employ attestation tracking to demonstrate compliance and reduce liability.
Identify ownership of policies to provide accountability, including tracking across the policy lifecycle, actions and notifications.
Download this datasheet to understand how STREAM can help you create a centralized repository of all policies, linking…
Acuity Corporate Brochure
Download the STREAM brochure to learn how we can support you with your Integrated Risk Management challenges.
Download this business case to understand how STREAM compares to traditional, basic spreadsheets and as well as the…