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VALeDATA™ Control Environment solutions enable Financial Services organisations to validate and manage a top down view of their Control Environment through dashboards and scorecards.
VALeDATA™ is a web-based Control Environment portal underpinned by a powerful validation engine that provides enterprise wide evidence of embedded governance and process automation. In addition document management, personalised dashboards, automated alerts, facilities to capture and track end-to-end information (e.g. risks, issues, progress, costs) on multiple initiatives and programmes deliver evidence of strong governance controls in a way that is meaningful to the business, stakeholders and regulators. VALeDATA™ helps businesses plan, build and manage their Control Environment top-down with interactive dynamic reporting and strong governance based on evidentially relevant, current and valid unique business rules. VALeDATA consumes and adds intelligence to existing static data currently stored in spreadsheets and disparate, unconnected data warehouses. VALeDATA is the catalyst for refining valid governance processes which are then automatically validated, used, revalidated, refined and reused as part of a living workflow process that evolves with the needs of the business and regulatory demands.
As financial services organisations undertake transformation programmes to evidence strong internal controls as a result of Sarbanes Oxley, Basel II and MiFID by quantifying and managing risks and increasing evidentially strong governance processes their ability to define, build and operate a strong Control Environment in both a meaningful way and an immediate timeframe is one of the greatest challenges facing the industry.
VALeDATA™ - The Control Environment solution:
- Organises internal transformation programmes from different perspectives of geography, business lines and disciplines
- Facilitates and aligns virtual teams with web-based collaboration, eliminating information friction
- Provides through-life project support from project selection, prioritisation, pipeline and approval workflow, through to execution and benefit tracking
- Aligns methodologies and tools with rating systems, scorecards, benchmarking, tasking, programme management, risk and issue management and collaboration
- Tracks delivery of each control process, enables validation of the governance environment, assigns clear accountability, automates performance progress reporting, enables slice and dice views of risk, issue and delivery conflicts, tracks benefit realisation of internal control programmes, facilitates qualitative data capture and analysis with proactive reporting to all stakeholders.
VALeDATA™ Control Environment core capabilities:
- Transform governance management and reporting methodologies into automated business processes
- Track progress and provide early warning of Risks and failing performance
- Organise Governance Initiatives from different business perspectives structured and ad-hoc
- Align virtual teams with rich web-based project collaboration
- Track cost and benefit realisation of internal control initiatives with proactive reporting to all stakeholders.
Personal Dashboards
Enhance situation awareness, visibility and reach with:
- Personalised real-time views for each stake holder's view of internal control initiatives, projects and connections relevant to their role
- Information and status indicators Alert indicators and email based alerts.
Control Initiative Delivery
- Create project and programme workspaces with connections to the business and stakeholders
- Control Environment Roadmaps, programme and project summary reports and charts
- Manage projects from programme perspectives, across lifecycles, drill-down to connected projects - drive programme management actions through the business
- Flexible segmentation of projects into programmes - project selection, grouping, filtering
- Integrate programme information into scorecards and dashboards.
Control Environment Management Process
- Connect initiatives, projects and programmes with strategy and business units
- Workflow templates configure workflow standards for phases, milestones, tasks and team management
- Milestone and Phase management Gantt charts and colour coded status, Milestone rollups, critical milestones, milestone condition alerts, dependency, project status rollups to programmes and business units
- Dynamic prioritisation
- Manage and monitor progress, tasks, accountability, teams, process, collaboration, issues, drill down to milestones and reporting
- Flexible slice & dice and drill down analysis
- Integrate MS Project and Open Source components
- Integrate activity progress and information into scorecards.
Scorecards
- Main Board, Steering Committee, Internal Audit, Work Stream, Divisional, Regional etc. Scorecards and templates to customise new Scorecards
- Online Scorecard reports with drill down evidence of performance
- Hardcopy PDF reports and exports to Microsoft Excel
- Traffic Light (RAG) rating assessment system calculated and/or qualitative assessment by programme directors
- Incorporation of key information (eg Critical Risks/Issues).
Business Rule Configurator
- Configure business rules for assessing and aggregating Control Environment performance and alerts based on milestone status, risks, issues and actions
- Traffic Light (RAG) reporting controls and configurable status indicators.
Milestone Dependency Management
- Visibility of all interdependencies
- Aggregated views and dependency reports by region, division, country, legal entity etc.
- Graphical view of critical dependencies
- Dependency status indicators - immediate identification of slipping milestones
- Auto-generated actions automatically delivered to 'need-to-know' community.
Risk and Issue Management
- Raise, classify and report on risks, issues, assumptions and dependencies
- Manage and resolve issues in context as they occur and change
- Translates your Risk and Issue methodology
Empowered Collaboration
- Integrate comments, threads, actions, documents into workspaces
- Accountability and role based management
- Flexible security management.
- Quick access to dashboards of relevant actions, issues, collaboration and documents across the system
- Document repository and Search with full text search on stored and cached content
- Build and share lessons learned
- Audit trail on system changes and interactions.
Cost Management
- Automated calculations: Return on Investment; Internal Rate of return; Break even dates; Net Present Values; Pivot Points; Payback periods
- Aggregated calculations across different views.
Pipeline Management
- Pipeline management - Pre-configured Pipeline Approval Workflow templates, Pipeline transition management
- Processes for idea capture and initiative qualification.
Approval and automated workflow validation
- Definition of the 'assessment criteria' for each governance programme
- Definition of rules related to the Control Environment process
- The process of assessment, submission and approval is completely configurable and is based upon a highly flexible role and privilege model.
Integrated Surveys
- Integrate knowledge captured form surveys
- Configure surveys, data capture and processing rules
- Reporting and Analysis time series charting, comparisons, summaries
- Email driven workflow
- Integrate results with scorecards.
Product Suite integration
Integrate VALeDATA™ with VEReDATA™ for Compliance Management and VISeBILITY for Program Portfolio Management.
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