Compliance Data Analytics
Organizations with varying risk profiles, geographies and workforces collect and analyze a vast sea of data from functions such as sales, marketing and legal to predict behaviors and meet business goals. In the U.S. Department of Justice’s 2020 update to the Evaluation of Corporate Compliance guidance, the DOJ considers whether compliance functions have sufficient access to relevant sources of data to allow for timely and effective monitoring and / or testing of policies, controls and transactions.
Often the challenge for compliance lies with identifying the various risk-relevant data sources that exist across the business and understanding the story the data can tell.
The DOJ offers pointed guidance on the required detail and sophistication of compliance data and metrics. Organizations should strive to answer questions as granular as “what policies do employees access, from where, and when?” Data analysis should go beyond training completion records and incident reports to leverage cross-functional data that informs and shapes the compliance program. Organizations request support in developing these advanced and holistic data analytics approaches.
Compliance Culture & Remediation Efforts
HR & Public Perception
Compliance Program Progression
Risk Reduction Efforts
Metrics for Risk Assessment
We start by asking:
Morae supports clients in their shared efforts to transform data into meaningful metrics by identifying where data lives and how to bring it together, understanding and supplementing data analysis resource allocation, and creating and enhancing report sophistication.
Get in touch with us to learn more.
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