Corporate governance is to set the rules. The company should be governed by a statutes, different policies and procedures that are clear, consistent and proportionate to its complexity, scope of operation, risk profile and tolerance.

Corporate governance is to separate the powers. The government of the company should be divided into functions, each with separate and independent powers and areas of responsibility so that to avoid conflicts between the functions.

Corporate governance is to implement controls and sanctions. The company should employ controls within its organisation to detect, prevent and manage risks and to ensure compliance with the implemented rules. Further, the company should establish disciplinary measures to sanction any misconduct.

Corporate governance is to inspire. The management should set the direction (company`s strategic goals), articulate company`s approach to risk and promote a culture founded upon ethics and positive behaviour.

The ultimate goal of corporate governance is to put everything in order, to achieve balance and harmony and with this to safeguard the whole entity and to improve its resilience. That is why we are passioned about corporate governance.

Risk management is all about taking risks, but risks that result in achieving company`s strategic goals. Hence, it is important those risks to be identified, assessed and controlled within company`s appetite. In other words:

Risk management is to identify risks. The main risk drivers are company`s business (provided products and/or services), jurisdiction(s) of operation, delivery channels and external changes. The company should identify the risks it faces at all levels: strategic, by functions and within the units, including the level of the exposure.

Risk management is to analyse risks. The company should estimate the likelihood of a risk event occurring and its consequences and re-assess them considering any changes in risks` nature and size or in company`s risk appetite.

Risk management is to address risks. Identified risks can be managed by avoidance, mitigation, transfer or acceptance. The aim of the risk treatment is to maintain, including to enhance company’s capacity to restrain and recover from the impact of risks that can adversely affect the organisation.

In our view, to manage risks is to be a visioner and to think consciously about the future, not only yours, but the future of the others. That is why we are passioned about risk management.

Achieving company`s strategic goals takes hard work and starts with discipline. Translated into the language of business, discipline means compliance. It is the knowledge of what you should or should not do and the ability to constraint on certain behavior with the purpose of fulfilling your objectives.

Keeping your goals in view, you should create strong compliance environment in your company by adopting policies and procedures and setting systems and controls. This will ensure a high level of agreement about what is valued, and a high level of commitment with regard to those values.

Good compliance creates tangible business results, such as improved workforce performance, customer attraction and retention, revenue enhancement. Good compliance leads to long-term freedom, the freedom to create, to grow, to advance. That is why compliance is our passion.

Policies and procedures are useful tool for successful corporate governance. Their main purpose is to support your company to achieve its goals, to conduct its business in compliant, yet in economically efficient way and to minimise the risks to which the company is exposed.

When designing and developing a policy you should consider the relevant requirements (which of them are mandatory and which – voluntary), what are the associated responsibilities and accountabilities, what are the required resources.

Once having clarity in the framework, you should tailor the policy to the circumstances of the company. Because the policy is to be used by the company, not just to have it in case regulators ask.

If you are on a search for inspiration, take a look at Publications. You can find off-the-shelf solutions which are a good start for creating something of your own.

If you think that you would benefit with some help in this endeavour, please contact us.

Enhancement of people`s skills, competencies, knowledge, understanding and expertise – this is a high return investment that provides competitive advantage of the company and ensures operation at the highest levels.

A well-thought knowledge management strategy should provide for building diverse workforce with a broad range of skills, development of the fullest potential of your people, keeping your best talent, strengthening of internal knowledge, growing future leadership, balancing technical expertise with best people and operational management skill.

If your knowledge management efforts focus on development of in-house training, mentoring programmes, designing manuals or other reference material, assessments of skill and knowledge gaps, evaluation of the learning outcomes you can find some guidance notes in Publications.

You may rely on our support if you need to communicate awareness of regulatory and compliance issues though in-house trainings. Please contact us if we can help in any way.

The world economy gradually transfers from material consuming economy to economy based on information and knowledge. Within the new context, successful companies based their competitiveness on innovations. The innovations rise in the effect of research, analysis of information and its transformation into useful knowledge.

An effective compliance research should account for a clearly defined scope, a wide variety of rich resources and well-established structure. The structure of the research should offer a clear rationale, should explain its data collection methodology and implemented analytical techniques and should identify the key outputs from the research. Setting objectives, timelines and establishing deliverables will help to ensure that the research is conducted in a precisely determined manner.

If you are in the payment industry, your business is in a constant need of intelligence and information about the current changes in the regulatory and commercial environment, your own performance and level of compliance.

If you need some external assistance, feel free to contact us. We can help with reliable and accurate researches on regulatory and compliance issues.