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From the Sarbanes-Oxley Act through similar rulings and legislation around the world to SEC 2009-268, there is renewed emphasis being placed on good corporate governance and ethical behaviour. There is an increasing need for transparency, proof of the processes followed and the reasoning behind decisions taken.
SEC 2009-268 focuses on compensation packages which over-incentivize individuals to take risks with material impact and the need to provide information about the board’s role in risk oversight. ARM provides the enterprise-wide view to enable both risk oversight and insight in a single system with clear reporting and audit trails.
Active Risk Manager highlights where governance issues may occur. ARM shows where in the business – regions, functions, lines of business etc. – are the greatest risks of non-compliance both to external legislation and to internal ethical standards and polices. ARM links risks to existing controls and highlights where specific mitigation strategies are needed – such as employee education programs on appropriate behaviour or in managing an ethical supply chain.
ARM’s breadth means that governance and ethics can be handled in the same system as related domains such as Corporate Social Responsibility, Reputation Management and Controls Management.
