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Nagan Research Group LLC |
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Compliance & Risk Introduction |
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Compliance and risk are in many ways different perspectives of the same issue, which is ‘the avoidance of unexpected events that might cause harm to a company, its customers, or business partners’. Most regulations are created in order to protect the greater public from a perceived risk. For example: Sarbanes Oxley, FACTA, PCI, and HIPAA. So in a perfect world compliance should lessen a company’s risk. Risk assessment covers the activities an organization takes to determine what risks it faces, which usually include compliance with specific regulations. Addressing risk and compliance issues in a strategic and systemic way provides the following benefits: · Reduced surprises and losses – Your organization will improve your capability to identify potential risk events and establish responses, reducing surprises and associated costs or losses. · Enhanced risk response decisions – Knowing your risk profile provides the ability to identify and select among alternative risk responses – risk avoidance, reduction, sharing, and acceptance. · Alignment of risk appetite and strategy – You need to consider your risk appetite in evaluating strategic alternatives, setting related objectives, and developing mechanisms to manage related risks. · Identified risks across your entire organization – Every organization faces a myriad of risks affecting different parts of the organization. Having an overview of your risks will allov more effective responses to the interrelated impacts, and integrated responses to cross organization risks. · Seizing opportunities – By considering a full range of potential events, you will be positioned to identify and proactively take action. · Improving deployment of capital – Obtaining risk and compliance information will allow you to more effectively assess overall capital needs and enhance your capital allocation.
The two aspects are described in greater using the following links: The materials are meant as an overview and we look forward to discussing them in detail and relating how they can help you address your specific risk and compliance issues. The Nagan Research Group (NRG) has developed a cost effective, proprietary technology for risk and compliance assessment We also have developed an expertise in the development of assessment surveys for complimentary organizations. Click on the following link if you would like more information. Surveys If you would like to discuss your specific compliance and/or risk situation call NRG at 203-987-8946 or click on this link to email |
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