Compliance and Risk Reporting Services | ScaleFocus

Compliance and Risk Reporting

Traditional approaches to risk management are failing. Protecting your enterprise and stakeholders is not getting easier with the rise of the regulatory demands and the diversity of your data assets.

Why do you need compliance and risk reporting?

The goal of compliance and risk management is to protect your business. Solid reporting minimizes negative outcome from various financial and operational risks.

  • It can save your organization from fines and lawsuits, due to non-compliance as well as the minimized risk of breach.
  • When implemented properly it is a solid foundation for fraud and illegal activity reporting by employees.
  • Proper reporting allows you to identify disastrous behaviour and failures before they happen.
  • In case you face any charges compliance reporting will allow you to do root cause analysis in a more efficient and quick manner in order to prepare better and minimize the risk of losses.
  • Compliance and risk reporting allows you to make sure you are on par with industry standards and best practices.
  • Reporting helps management prioritize and understand risk and execute control measures quickly.

When to consider compliance and risk reporting?

There are multiple industry directives companies need to be compliant with.

  • For all companies doing business in Europe due to the General Data Protection Regulation (GDPR).
  • When your business is facing industry specific compliance and must adhere with reports to it. Some examples include BASEL, Solvency, IPIECA, API, IOGP and others.
  • Consider compliance and risk reporting also internally. Each organization should have corporate compliance to follow the laws, regulations, standards, and ethical practices that apply to your business.
  • In case of different government regulatory compliance, no matter if industry specific or general revenue and operations reporting.

Our first step is to listen to you. Our compliance and risk reporting specialists engage with the following initial steps (all or some of them, depending on your needs):

  • Risk assessment – processes, IT systems, culture, vendor management etc.
  • Compliance assessment – against government, industry specific, internal corporate compliance etc.
  • Security assessment – physical, process, IT systems etc.
  • Software, Infrastructure and Cloud assessment – focusing on all your IT assets and putting them in line with the regulations and risks to your business.

Each assessment includes our findings of weak areas of operations, processes, compliance against regulations, ethics and respective corrective measures.

After the general assessments are completed, communicated with you and agreed upon we move forward with and adoption plan. In order to move to a successful risk and compliance system implementation it is crucial to have a risk management framework approved by your entire management of your company.

Adopting an end-to-end software for compliance and risk management solutions.

On top of the cultural, operational and process aspect of change towards excellence the must step is adopting an end-to-end software to help you cover all risk and compliance aspects. This step includes reports development, customization and constant update against updates in regulations and industry changes.

Our compliance and risk reporting focus

Our compliance and risk reporting solutions and services employ various methods such as data segmentation, statistical clustering, predictive modelling and what-if analysis covering both structured and unstructured data. Let us help you establish the baseline of data for managing risk and achieve compliance in the following areas:

GDPR Consent Management

GDPR Data Discovery and Management

Solvency Reporting and Compliance

Disclosure Management

Compliance and Reporting Solutions for Government Agencies

Regulatory Reporting for Enterprises

Fraud Management and Analytics

IFRS Reporting and Compliance Management Solutions

Stay compliant and mitigate business risk by leveraging our compliance and risk reporting solutions.