Case Study
Software Provider Leans on FTI Consulting to Evaluate Global Compliance Analytics and Metrics
A global software company needed to modernize its compliance program. With a focus on applying data and technology effectively in support of a global framework, the organization engaged FTI Consulting’s Risk & Compliance experts to assess the existing program’s maturity, data sources, analytics dashboarding and existing tools, and guide the company in transforming its program.
Situation
Roles within the company’s global compliance program had recently been restructured, spurring an internal discussion about how procedures could be improved. Additionally, the company was addressing recent critical risk factors, which necessitated a need to understand the efficacy of the current program according to the business profile. Leaders were also looking to examine the data sources that could be leveraged to derive insight for broader risk measurement and monitoring.
Our Role
The company engaged FTI Consulting to support a full compliance program assessment and advise for its future compliance technology needs. As a first step, the team evaluated key risk areas by compliance maturity, including, among others, anti-bribery and anti-corruption, trade compliance, money movement and anti-money laundering, and product compliance.
To ensure a thorough assessment across decentralized business functions, FTI Consulting conducted comprehensive interviews with stakeholders within the compliance team and other adjacent groups. These interviews helped inform existing gaps in process and technology disparities across the organization. With detailed insights from the initial assessment the team also provided:
- Guidance for establishing compliance metrics and processes for ongoing compliance monitoring across the organization globally.
- Detailed feedback according to FTI Consulting’s Maturity Modeling Framework, including how the organization could apply data and technology effectively to analyze compliance against all relevant data sources, as well as establishing the tools and controls needed to enable dashboarding against a defined set of compliance metrics.
- Deep technical and practical analysis of the client’s existing governance, risk and compliance (GRC) software to provide insight on how its implementation could be improved and enhanced with other functions or technologies.
Our Impact
FTI Consulting identified key pockets of existing data within business functions that could be further enhanced and leveraged as direct metrics for the global compliance function.
Through a comprehensive assessment, the team also affirmed aspects of the client’s GRC software environment and provided recommendations to better leverage existing functionality for repeatable risk scoring.
As a result of the guidance provided, the client has new insight into its global compliance program from which to develop a prioritized roadmap for continued improvement.