Governance, Risk & Compliance Management

Management of IT governance, risk, and compliance can be a significant challenge since the compliance a risk landscape is constantly changing. . Specific concerns can include the requirement to gather data from many parts of the organization to determine compliance status, and to assess risks. In order to remain competitive, companies need governance, risk management and compliance strategy that keeps pace with new laws, regulations and stakeholder expectations.

An effective strategy can positively impact shareholder value and empower organizations to:

• Improve strategic business decisions by evaluating  associated risks and opportunities
• Minimize business surprises by means of more proactive and effective monitoring
• Protect and enhance reputation and brand by capitalizing on business opportunities while reducing the likelihood of negative events
• Increase organizational efficiency
• Avoid fines, penalties and damage to reputation

Jayine Consulting can help companies evaluate, formulate and execute their compliance strategy to increase predictability, manage the impact of risk and capture business opportunities through:

• Governance: Set business objectives and measure achievement
• Risk Management: Identify, measure, report and appropriately manage risks to achieve governance objectives
• Compliance: Execute governance objectives with integrity and confidence

IT Governance

Jayine Consulting ‘s IT governance experts can help your organization adopt the industry’s best practices and give your company an orderly, enterprise approach to key IT decisions. 

By following these steps, your organization will:

• Determine the role of IT in the firm
• Identify the IT governance decisions you can make immediately
• Identify the aspects of good and bad IT governance in your current approach
• Identify recent failures and successes of IT governance
• Summarize your position in the IT governance quality matrix
• Review your IT governance organization and processes against a best practice guideline
• Identify your case for action for stronger IT governance and needed changes
• Develop a roadmap and action plan for IT governance

Risk Management

Jayine  Consulting assists financial organizations in complying with regulations by setting internal control frameworks through an effective risk management approach. The services, offered include:

• Risk Identification
  Identifies and performs a qualitative or quantitative assessment of technology risks
• Risk Mitigation
  Identifies an efficient and effective approach to help reduce risk impacts to an acceptable level
• Risk Assessment
  Tests applications and general controls; performs periodic risk and compliance reviews, audits, and self-assessments; and offers corrective action planning and implementation

IT Compliance

Jayine Consulting’s IT compliance programs are based on a life-cycle approach. For most organizations the first challenge is understanding the requirements imposed by the regulation of the contract (as in the case of PCI DSS). Our IT compliance methodology whether for  PCI DSS, or ISO 27002 consists of the following steps:

• Education – interpreting the standard in the context of your unique business environment and risks
• Assistance in closing compliance gaps
• Formal compliance assessment
• Communication – a Compliance Statement for organizations to use with third parties to demonstrate their compliance with the standard or regulation
• Annual compliance update

Compliance Regulations

Managing compliance in today’s environment requires awareness of the numerous regulations, standards, and the use and application of management frameworks. These are always in flux, as new regulations are added, older regulations changed, and standards and frameworks updated. A sample of regulations, frameworks, and standards that we work with include:

• COSO
• Sarbanes-Oxley Act (SOX)
• PIPEDA

• ISO 27002

• COBIT