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Demonstrably rigorous governance and ability to show clear control of policies and procedures emerge as key themes of industry seminar.
London, 10th June 2010, Hiteclabs, the leader in software solutions for information and governance management, today hosted a seminar for regulated financial services providers on the theme of “Intensive supervision: what it means and how to prepare for it.” From several perspectives, the ability to take control of managing and communicating policies and auditing employee agreement emerged as a key requirement.
Held at the British Bankers’ Association in the City of London and attended by a wide array of senior compliance and governance managers from leading providers of financial services, the seminar took at its focal point recent statements from Hector Sants, Chief Executive of the FSA, promising an era of ‘Intensive Supervision’.
First perspective on the subject was provided by Alan Leale-Green, Chief Executive of consultancy Regulatory Solutions Ltd. Alan’s insights focused on an expected ‘paradigm shift’ in regulatory approach, including factors such as a trend towards ‘judgements on judgements’ of regulated companies. Additionally the session investigated a trend towards demonstrable engagement of management within a control culture, and approving and supervising significant influence functions.
Robert Wood, Operations Manager and MLRO at Turkiye Is Bankasi A.S, picked up the same theme from the perspective of a regulated organisation that was embarking on a programme of controlled policy communication and auditing to respond to intense regulatory pressure.
The final perspective was delivered by Chris Heslop of Hiteclabs, who drew on the company’s many years’ experience of delivering policy management solutions. The key trends identified by Hitec in the move towards ‘Intensive Supervision’ included relentlessly increasing volumes of policy information, policy governance moving from a departmental to a cross-enterprise accountability, and intensified demands for audited records that demonstrated management had fulfilled their policy responsibility.
“All the speakers picked up this recurring theme of the need to take control of policy communications,” summarised Chris Heslop. “Intensive supervision is here to stay, and the seminar provided invaluable insights into how to respond to the pressures that will arise as a consequence.”
Hitec’s Conform software solution presents key policy documents to employees, tests their understanding, ensures agreement, and provides detailed management information that allows customers to demonstrate governance.
News 2009