Discover a competitive edge by understanding your compliance risk
Enterprise Integration has been an integral part of our technical infrastructure. From designing our Microsoft system platform in 2004 to transitioning our servers to a virtual environment in 2012, EI has been there every step of the way. We value our partnership with EI and continue to be impressed by their level of service and expertise.
Annmarie NemethChief Financial Officer, MJW Consolidated, Inc.
Without a lot of direction from CSX, EI drives efficiency into our operations. EI keeps improving and looking for better ways, tools and products to help us. Working with EI has totally changed the way we support end users.
Mike NailDirector of Process Excellence, CSX Technology
Enterprise Integration is engaged with Rayonier to perform vulnerability assessments of our IT environment. Throughout our multi-year relationship, EI has delivered exceptional value by generating reports with executive level summaries to help us understand the overall risk profile along with specifically detailed, actionable instructions for our technical team to remediate any discovered vulnerabilities. EI also provides subject matter expertise as needed to help with remediation.
Eric FakeDirector Enterprise Infrastructure, Rayonier
As the regulatory landscape evolves, most organizations also face an increased chance for events negatively impacting their bottom line. Leveraging professional expertise for evaluating and prioritizing risk provides organizations with the ability to develop effective mitigation strategies and reduce the possibility of major noncompliance events from ever occurring.
If compliance risk procedures are developed without consultation of your organization’s risk owners, the process will lack credibility when it comes time for implementation. EI will communicate with your subject matter experts, who genuinely understand your risk exposure and will help ensure all key areas are identified and assessed.
With a comprehensive Compliance Risk Assessment from EI, we’ll help make it easier for you to understand your risk mitigation activities, remediation work, and emerging risk exposures by identifying the key personnel responsible for managing each type of risk.
EI’s assessment will prioritize your risks and provide you with insight on how those risks should be softened or remediated. This detail can be used as a starting point for re-allocation of resources, operational planning, testing and monitoring.
Upon completion of the assessment and once you’ve allocated the appropriate resources to take care of your compliance risks, the severity of those risks will change. Additionally, as your business grows and compliance regulations evolve, your areas of risk will broaden…all of which will drive necessary changes to the assessment itself. EI will be ready to scale your assessment to meet these changes as they occur.
Through EI’s assessment, we’ll lay out your organization’s compliance risk landscape and provide you with an understanding of the areas of compliance risk to which you may be exposed, building the foundation for development of your methodology and strategy.
A: A Compliance Risk Assessment can help your organization fully understand where the risks lie within your environment. It can help define the proper steps that need to be taken to mitigate these risks and to ensure you’re in compliance with ever-changing regulatory requirements.
A: At EI, our team consists of highly skilled Compliance Risk experts that can provide actionable insights into your existing processes. Leveraging our extensive knowledge and experience, we’ll evaluate your compliance risk, identify any areas for improvement and prioritize your risks for action to mitigate your exposure.
A: It would depend on the severity of the infraction, but an organization could feel damaging impact to market value, sales, profit, customer loyalty or ability to operate, just to name a few. Stiff fines and penalties could also be on the agenda.
A: Perform another assessment. Growth in any form could result in increased risk. Acquisitions definitely fall into that category. It’s best to regularly assess your compliance risk processes and strategy. With constant regulatory changes and organizational business shifts, it’s probably safe to assume that no matter when your last assessment was, your program needs to be checked again.
While eliminating all of an organization’s risk exposure is truly impossible, a well-developed risk framework and methodology can help organizations prioritize which risks it wants to more actively manage. Once defined, this framework and methodology can also identify which existing activities are able to reduce risk, and which are not. Effective mitigation activities can help lessen the potential severity of an event, or even reduce the possibility that it would ever occur.
With a Compliance Risk Assessment from Enterprise Integration, you’ll get actionable insight into your current exposure, along with remediation recommendations and up-to-the-minute knowledge of emerging risks to help you mitigate the possibility of noncompliance.
