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Policy management:
Proving policy compliance

Effective policy management avoids penalties and protects your business by proving your organization is policy-compliant.

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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.

Datasheet

Policy Management

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.

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Processes and features

Here are some of the steps involved in policy management using STREAM.

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Create a repository

STREAM helps you create a centralized repository of policies across their lifecycles, including creation, approval, attestation and maintenance.

accommodate-exceptions

Accommodate exceptions

Use a workflow to raise, track and approve policy exception requests.

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Monitor Policy Change

Stay aware of policy changes to enable a quick response to policy questions or disputes.

assess-business-impact

Assess business Impact

Review the impact of policies in real business situations to improve and optimize individual policies.

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Run attestation tracking

Employ attestation tracking to demonstrate compliance and reduce liability.

establish-accountability

Establish accountability

Identify ownership of policies to provide accountability, including tracking across the policy lifecycle, actions and notifications.

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