10 Steps for Effective Risk Management and Compliance - from the desk of Sai Sireesh

  • Article

My 18 years experience has taught me one thing - Risk Management and Compliance initiatives by nature are the most complex to execute. Due to the dynamic nature of the industry needs, there are so many moving parts that it gets hard to keep up. Based on my experiences in over 20 global projects, I share my top 10 steps to execute effective Risk management and compliance projects, based on some of the best practices I have seen in the industry by some incredibly successful leaders. 

  1. Maximize existing investments and capabilities 
  2. Familiarity - End user ease of use and familiarity for reduced cost of training
  3. Efficiency - Integrated offerings help in efficient workflows and processes
  4. Productivity - Save valuable hours for employees in everyday compliance tasks                               
  5. Last Mile - Embed last mile compliance workflow at everyday interface/desktop level
  6. Everyday activities - Embed solutions in employee regular daily activities so it becomes a habit 
  7. Self Service - Right information, right time in right format for end users – Teach them how to fish
  8. Rich ecosystem of best of breed solution providers – One size does not fit all
  9. Total Cost of Ownership - Always follow the money
  10. Rapid deployment - Quick and easy deployment for fast track projects - Get quick wins first

Do you agree?