5 Steps to develop a risk management plan for your small business

Risks are common in business. You can’t always remove all the financial, material or physical risks you might face in your business, but you can minimize the risk to a great extent through proper planning and management.

Benefits of an Automated Vendor Risk Management System

Vendors are an integral part of supply chain management. By fulfilling the demand of businesses, vendors keep the chain of supply going. A few common examples of vendors are listed below:

Automated and Integrated Safety Management System

Are You Still Relying on Spreadsheets for Safety Management? Or do you have an automated and integrated safety management system at your workplace?

Six Key Elements of Corporate Compliance

In working with the 60 Bank and Credit Union customers currently using our Predict360 Compliance Platform, I have come across trends that are common with all good run Compliance Departments. The key factor which differentiates clients with a strong compliance culture versus a weak one is their understanding of specific business models used in different departments, different locations and investing the time and resources to ensure that the model incorporates a risk mitigation and management component that will outline both Inherent Risk and Residual Risk.

Why Automate and Integrate Enterprise Risk and Compliance Management?

When it comes to Enterprise Risk and Compliance Management software, there are multiple tasks and systems to manage that lend themselves to human error if not handled with immaculate care and immeasurable attention every, single day.

Steps to Pass Regulatory Compliance Audit and Inspections

None of us must fear coming to work and getting hurt. OSHA enforces compliance through inspections to ensure workplace safety (OSHA law, known as Section 5(a)1 “General Duty Clause,” which requires that all employees have a safe and healthful workplace).

Why Automate Policy and Procedure Management?

Management of policies and procedures is increasingly becoming a pain point within organizations. Some of the pain points include:

Business Process – Regulatory Workflow

This is a five-part series blog on the Five Steps to Manage Regulatory Compliance:

1. Regulatory Knowledge base and Taxonomy
2. Risk and Internal Controls
3. Business Process – Regulatory Workflow
4. Location Assets
5. Roles and Responsibilities of Key Management Functions

Today’s post is focusing on the third step which is Business Process – Regulatory Workflow.  Once the organization has identified their EHS internal controls and identified their risks or hazards from high to low, the management would be required to further develop and streamline compliance routines, process, and procedures into a coherent system.

• Business Process Impact, compliance process around sites, assets, events, timely decisions - The system should allow you to pull reports so that you are able to understand regulatory change management impact and make informed and timely decisions. These days, when regulators do their audit they are not necessarily only interested in knowing if you achieved compliance, but interested in knowing the compliance process around personnel, product, equipment, policies, procedures, materials, assets, sites, events, assets, and operating conditions.

• Process automation and cost – Automation is highly Cost Effective. KPMG recently did a research that most of the regulatory compliance is done in silos- various functional departments are managing compliance through multiple tools (some external and some internal) in some cases, most of these tools don’t talk to each other and each department has additional headcount to manage compliance-  if regulatory compliance across all divisions is automated through one platform then not only will it be cost effective, it will also increase the performance of the company by being able to make better and timely decisions compare to its competitors.

• Manual vs automation – Vertically integration of all the regulatory departments through one platform should lead to better reporting up the hierarchy and hence a more complete view of critical risks facing the organization. A lack of such oversight was arguably a major cause of the current financial crisis.

Processes that can be Automated:

• Automate corrective action to increase speed, eliminate waste and cut costs
• Automate scheduling, tasking, and tracking
• Embed transparency and accountability
• Automate management of change

The process that cannot be Automated:

• Determining applicability
• Subject matter expertise

Predictive Patterns with an Incident Management Plan

Patterns can be found in everything we do.  A person is who they are based on the decisions they make.  While we do not always make the right decisions, we use our past choices to determine what decision should be made.  In other words, our decisions generally follow a pattern based on our own past knowledge.  Our brain stores this information so we do not follow the same mistakes.

Dealing with Compliance Mandates

Increasingly complicated compliance mandates have led some businesses to implement automated processes to save resources. Regulatory compliance software can be a huge burden on company resources as mandates and IT threats evolve. To streamline data management and curb costs as they strive for compliance, some businesses have turned to automated processes.

Is GRC or Regulatory Change Management Automation Cost-Effective?

Technology has been developed to lessen the barriers to rigorous human life. It makes people and businesses grow and it can be used as an extension to basic human capacity and to invalidate delimitation ex. technology has made social interaction possible to those who have the inability to verbally speak and hear. It allows us to collaborate easily and it makes our work faster and more efficient. In the recent Wall Street Journal Article, it has been reported how a utility is facing a $2.25 billion penalty for alleged Federal and state noncompliance of regulations. In today’s business environment where GRC Software has to be rooted in the organization’s DNA, how does an organization keep up with such a highly volatile and regulated market?

Process Safety Management (PSM) and Evolution of Safety Regulations Application

Process Safety Management is a regulation (29 CFR 1910.119) publicized by OSHA, intended to

Managing FATCA Compliance Processes Through Software Automation

As many Bank Compliance Officers know, the Foreign Account Tax Compliance Act (“FATCA”), which went into effect on July 1, 2014, and was intended to reduce levels of tax avoidance by citizens of the U.S. and entities via foreign financial institutions (“FFIs”).  The intention of FATCA is to identify U.S. citizens responsible for paying U.S. taxes, however, are utilizing non-U.S. financial institutions and accounts offshore in order to avoid such tax requirements.

360factors at the 2013 Oil & Gas Environmental Conference in Dallas

The University of Texas at Arlington has invited 360factors, Inc. to provide a poster presentation on ‘Regulatory Change Management Process’ at the Oil & Gas Environmental Conference, Dec. 3-4 in Dallas, Texas. The primary goal of this conference is to achieve better environmental performance management system and regulatory compliance in the oil and gas industry through the exchange of new ideas and concepts.

How to Ensure Successful Risk Management?

In order to survive in today’s raging economic times, it is imperative that companies manage risk well. Effective risk management ensures value, agility, and efficiency for the organization.

Laws, Regulations and Standards – What is the difference?

This question came up the other day; a question that I’ve answered on many occasions over the years.  Admittedly, the differences between how the terms are used can be quite confusing.  The question is usually asked by individuals who do not have a background in enterprise risk compliance management software; they just know they need to follow the Clean Air Act and its associated EPA regulations, NERC, ISO27K, BVPC, etc. and they hear the terms used in a seemingly interchangeable way.

The Fourth of the Five C’s of Compliance: Competency

This may be a bold statement, but I believe one of the greatest creations of mankind is team sports. Not only does team involvement add value to a person, it also can be related to almost any aspect of life. In the game of regulatory compliance software, the team goal is to keep everybody safe by managing risk and regulatory change management. As is true for any team, the success of the organization depends on all of the players. When one basketball player fouls another, the entire team has to suffer the repercussions of the free throws. In a more serious, detrimental way, this is completely true for organizations involved in high-risk projects. If one employee is not doing his/her job properly, all of the employees are put at risk. This is why competency management is such an important aspect of regulatory compliance. If there is a gap in the team of employees, there is a gap in compliance management software and safety. Losing the compliance game can affect a lot more than just a team’s record.

Similar to the way a coach is in charge of maintaining the skills and endurance of each team member, the leaders of the company are responsible for keeping each employee up to date on policies and training. A better competency management system means a more productive, safe work environment. With PREDICT360, competency management is made easy through the intelligent mapping within the system. The regulatory knowledge base (RKB) stays updated on any regulatory changes, and with these changes, training may be required. Training plans can be mapped to each requirement so that the employees are aware of what courses they need to take. On top of this effective way of mapping training and policies and procedures management to each individual requirement, the software has an expansive learning management system in it with over 6000 courses available. Without a competent workforce with the necessary skills and knowledge, compliance is a blindfolded half-court shot in the dark.

Will the Excel Spreadsheet Ever Die In The Audit World?

My thought or question can be a dragnet type of question, although I look at all the automated software that are out there and I wonder, will “spreads” stop being the bread that supplies the butter (software)?  When it comes down to it all, automated software still needs Bill Gates; or do they?  What it comes down to is that Excel keeps up with all the trends and never lets the Booming automation world get ahead of them, or should I say overshadow them?

All in all, this is great for each side of the “box”, meaning every company stays outside of the box, creating new technologies to make the box larger (inside box = Excel).   This trend has helped the Enterprise Risk Management (ERM) world, the Compliance field in banks, as well as ORSA laws that have brought on all new ERM standards that are going to shake the insurance world like Dodd Frank did in the financial world.

Perhaps Excel is striving to make the box bigger so that software companies make it easier for companies to keep up with the ever-growing regulatory scrutiny. This, by large, makes the guy that stayed in the box still grow without the buzz word on the street.  I don’t know if I have answered my own question or opened Pandora’s Box, though I can tell you that the Auditors and Compliance officers need more than just “spreads”.

Using Spreads and sharing them through emails or shared servers can cause mistakes, just like playing the elementary school game “Telephone”.  Some Audit departments have woken from this game to jump on the cloud and are loving it, yet still have not washed their hands totally of “spreads”.

With regulatory compliance software, you can map all the regulations to your Audit Management Software and track all results related to regulations. You can share this data throughout your team to assist in the project management side of things. GRC tools like the ones for power and utilities help streamline and automate compliance woes in a more sophisticated manner.

So……..will “Spreads” ever die?

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How to Efficiently Manage Vendors?

Managing vendors is never easy. Expectations on both sides are almost always never the same, and over a period, the chasm is so wide and deep that it becomes difficult to move on. The changes in personnel and the regulatory changes have made it mandatory for every company to take an active interest in their vendors’ level of compliance with regulations and standards in their industry. Within the company, vendor management is a cost center and tracking compliance of the vendors adds another cost element to it. Here is a 4-step recipe to combat the cost, and increase productivity.

Step 1:

Classic Best Practices: Trim the number of vendors; set up a vendor rotation scheme (every 3 years or so), hire good negotiators, specify payment terms, do the 80/20 analysis of the goods and services obtained and so on.

Step 2:

Analyze the business processes for ensuring vendor compliance. Determine which of these can be automated.

Step 3:

Install Predict360 and configure it for Vendor Compliance management. Integrate with current Purchasing Department tools and any Enterprise Resource Planning (ERP) system.

Step 4:

Track vendor compliance from the Predict360 dashboard. Take action from the Predict360 application in terms of creating tasks, filing vendor compliance reports.

Predict360’s Vendor Management Software allows organizations to benefit with the services provided by third party vendors and contractors while managing the risks posed by these vendors efficiently and effectively. It also centralizes vendor management process and prevents it from oversight through a complete vendor management process.

About the company

360factors, Inc. (Austin, TX) helps companies improve business performance by reducing risk and ensuring compliance. Predict360, its flagship software product, vertically integrates regulations and requirements, policies and procedures management, risks and controls, audit management and inspections, and on-line training and qualifications, in a single cloud-based platform based on artificial intelligence.

360factors EHS Services offers environmental consulting services in the areas of air, water, and waste permitting and compliance, site investigation, and remediation, environmental and dredge material sampling and evaluation, engineering and geology, expert testimony, health and safety, and operational risk management. Its Managed Services incorporate outsourced risk and compliance services using Predict360.

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Competency and Compliance Learning Management System

I love this saying because it is relevant across an array of topics and is so simple in its meaning that it can be interpreted in many ways with a fairly general understanding for all: people are stupid.  No matter how you’ve come to terms with it we all have an understanding that nobody is perfect.

Effective Compliance Management Through Automation

Crying wolf or raising false alarms was the demise of the sheep herder in Aesop’s Fables. Over-reacting to every compliance issue turns people into the Wolf Crier.

An Alarmist is someone who is considered to be exaggerating a danger and causing needless worry or panic. When you aren’t grounded and are in “alarm” mode, you lose the ability to think outside the box, to be able to look at the bigger picture and to ask the right questions to determine the scope of the issue.

Calm in the Eye of the Storm. A fair number of the people have storms brewing, or they are already full blown. The challenge is to not let the external storm cause internal chaos that can blow your ability to stay rational, thoughtful, and most importantly, be the calm one who can step back to assess the complete problem, thus allowing you to get to the bottom of whatever is causing the storm. Do you fear a regulatory compliance storm brewing?

How can we help you improve your compliance management effectiveness and be that calm in the storm? 

360factors helps companies improve business performance by reducing risk and ensuring compliance. 360factors’ cloud-based Enterprise Risk and Compliance Management technology platform, Predict360, uses unique mapping and cognitive computing technologies to provide regulatory insight, predict risks and drive operational excellence.

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Traditional VS Breakthrough – Reduce Risk and Drive Operational Excellence

Running an organization based on quarterly goals and measuring quarterly performance have forced business leaders to scramble for short-term profit gains instead of having a long-term plan for performance and margins expansion.  Because of those short-term bets and quick pivots,

Five Steps for Successful Document Management

Documents carry critical information that helps run your business and serve your customers. Try applying the following five steps for successful document management at your organization:

Develop a Culture of Compliance and Risk Management

The risk is part of our daily life, not only in business or at work but also at home; in our personal life and even in our relationships. When we make decisions, not only the life-changing ones but also the mundane decisions that we make that make up our everyday life, certain risks are involved.

The food that we eat, the hours of sleep that we get, the activities that we do or the lack of it – they all constitute risks and they all have consequences based on the decisions that we make.

In the ecosystem of regulatory compliance where regulations change rapidly, how do we manage risks? The only answer that comes to mind is “automation through a regulatory compliance management software”.

Risk Management and compliance with regulations are not only the sole responsibility of top management. Everyone in the organization has a role to play. Everything starts with risk awareness. It’s the responsibility of having everyone in the organization acknowledge the existence of risks and the proactive execution of the process of mitigating or eliminating it.

The need to comply with the standards and regulations that apply to your industry is the only constant thing in the ever-changing space of GRC. If not done efficiently, compliance results can be very costly. Companies nowadays opt for a sophisticated and scalable way to manage the regulations that apply to their industry in order to manage risks and audit gaps as a result of regulatory changes management

 

Everyone in the organization has a responsibility to support the flow of information, knowledge, and communication pertaining to risks. One has to communicate to a supervisor or a manager in the event of problems in noncompliance and operations or in the event of dangerous situations – it must be reported. All employees are responsible for following all the applicable regulations and policies and procedures and developing a culture of a positive attitude on the implementation of compliance and risk management. And more importantly, to drive a culture of compliance and risk management, employees should understand the benefits of having such culture and why standards and regulations are put in place.

Plan and Prepare with Risk Management

Growing up in Maryland, during the long, summer nights, severe thunderstorms frequently rolled in and did some damage. During the short, cold winter nights, an array of snow and ice storms rolled in and did some damage. In stormy weather, there was always the strong possibility of power outages. To prepare for the repercussions of inclement weather, my family established a plan to kick start when a threat arose. We would make sure we filled up water buckets, gathered blankets, and stockpiled water bottle gathered

How to Stay Current with Regulatory Change

  

Working in a heavily regulated industry, only one thing remains constant – Change.   With the dawn of Dodd-Frank, regulatory reform has brought in a new wave of change in the financial industry.  Industry Regulations are the foundation of a financial entities compliance program, so if a regulation or requirement changes then the compliance program needs to change as well.  In turn, staying abreast of new or updated regulations is a key component of implementing a robust compliance program.

Training and the FDA – What do they want?

The FDA requires medical device and drug manufacturers to train their employees. Training must occur for all types of regulated activities from internal quality management software procedures/policies to CFR requirements. The agency expects companies to establish comprehensive procedures that not only detail how the staff will be trained but also complies with the QSR record keeping requirements.

Regulatory Change Management Starts From Top Management

If you observe the results of various regulatory compliance surveys across multiple industries, the results of most of the surveys are pretty similar, however some of the results were quite disturbing. When asked about top management’s perception towards regulatory change management and regulatory compliance, management viewed it as a necessary evil and you would see comments such as:

Five Steps to Select a Safety Management System

Every company has a different way of going about selecting solutions that will work best for the organization, but there are five useful steps for all companies to abide by, at least as a starting place, to effectively select a safety management system. They are as follows:

NPDES Electronic Reporting Rule

Environmental Protection Agency (EPA) signed the final electronic reporting rule which requires NPDES regulated entities to file certain reports and permit related data electronically instead of filing paper reports by using EPA’s NPDES Electronic Reporting Tool (NeT) and NETDMR (for DMR data) portal or the equivalent state version of it.

Why Automation Means Fewer Control Violations Involving Audits

In today’s complex and regulated environment for financial institutions, there has never been more pressure on finance leaders to ensure integrity in internal auditing and controls. Boards of directors want assurance that official financial statements are squeaky clean, with every piece of data in tables and in footnotes double-checked. There’s zero tolerance for funny business, such as a business unit booking revenue in one-quarter while pushing related costs to the next.

Avoid Risks Through KYV or Know Your Vendors Phenomenon

I believe I have made up a new Acronym for Compliance, KYV – Know Your Vendors.

The reason why knowing your vendors is important is the associated Risks that they bring to your Financial Organization. From the Vendor that “waters your plants”, to “delivering your lunch”, if your financial Institution has not fully vetted these vendors, your Company is at Risk.  Examiners not only review your clients but apply the same Compliance regulations to any of your existing vendors that have access to your buildings.

Cutting Compliance Costs and Making Regulatory Management More Efficient Amidst Rising Regulatory Scrutiny

As compliance professionals, we are constantly trying to balance compliance and risk headcount needs with available resources ($) due to the constant and significant increases in the regulatory environment. More often than not, the cost center nature of compliance drives our institution’s executive management to reject additional requests for headcount due to lack of resources allocated in the budget. This creates a dilemma for compliance officers as we are expected to “do more with less” while maintaining the same level of compliance and oversight prior to these significant regulatory changes and impacts on our business.

Competency and Compliance Learning Management System

How are you Managing and Assessing Performance?

Companies are looking for ways to improve performance while simultaneously reducing cost and risk, and ensuring compliance.   Through strategic planning, and in alignment with human resource management processes, companies are setting individual and group goals that align organizational culture, structure and strategies with business targets.  The setting of goals is often followed by the implementation of performance management system to make certain the goals are consistently being measured and evaluated in an effective and efficient manner.

Cyber Security is Always a Journey

How can an Integrated Risk and Compliance Management system help you avoid the same fate as Noble Energy?

It isn’t exactly news that the EPA is ramping up its NEI programs, with one of the core focuses being the Energy Extraction Enforcement Initiative and “Next Generation Compliance”.  Over just a few years it more than doubled inspections and evaluations with over 150 enforcement actions as a result.

One of the most recent enforcement actions was against Noble energy earlier this year, who agreed to a $73 million settlement to resolve claims brought by the EPA and the State of Colorado.  According to the EPA, “the settlement resolves claims that [the company] failed to adequately design, size, operate and maintain vapor control systems on its controlled condensate storage tanks.” ^(a)  The settlement order falls in line with the EPA’s new focus on “Next Generation Compliance”.

What is “Next Generation Compliance”:

1. Promulgation of regulations and permits that are easier to implement
2. Promotion and use of advanced emissions/pollutant detection technology
3. A move away from paper, shifting to electronic reporting
4. Promotion of transparency by making information more accessible to the public
5. Promote the development and use innovative enforcement approaches to achieve more widespread compliance – in other words, data analysis, and business intelligence.

In light of that definition, companies in the energy extraction space can get ahead of the curve by implementing an Integrated Risk and Compliance Management system like Predict360.  Predict360 fills in many of the gaps that the EPA and state agencies are looking at upstream companies to address, specifically:  electronic reporting, transparency or visibility across the organization both internally and publicly, and data analytics\predictive and proscriptive data analysis.

(a)  http://yosemite.epa.gov/opa/admpress.nsf/bd4379a92ceceeac8525735900400c27/d555b20d0c44fadd85257e2f0044d4b8

Integrated Governance, Risk Management, and Compliance (GRC)

Is integrated GRC an all-or-nothing proposition?

The challenge of integration often relates to cultural boundaries within an organization rather than conceptual or technical issues. GRC processes are unique in relation to operating processes. Changing markets and a continuing stream of new laws and regulations spanning decades have driven an ad hoc and reactionary evolution of new policies and procedures in many organizations. Often, internal and external pressures result in these changes being completed at such a pace that the “new” policies and procedures are added onto the existing structure. Ultimately, this ongoing spiral of change has led to complex accountabilities, the growth of silos, inefficient communications, decreasing organizational transparency and poor data that you can’t trust to make critical decisions – all leading to a higher cost of risk and compliance.

Revolutionizing the Simplicity of Regulatory Change Management

Imagine that you are about to take a drive to a place you have dreamed of going your entire life. Your suitcases are packed in the car, and all you have to do is put your key in, turn the car on, keep an eye on the dashboard every now and then, and drive. Your focus is on the road ahead that leads to your final destination and the quickest, safest way to get there. This is simplicity at its best.

Why Reducing Your Cost of Compliance can Save you Money

Everyone knows staying compliant saves money. It prevents hundreds of thousands of dollars in regulatory fines. Beyond that, it seems that compliance only costs money. Time, effort and dollars go into keeping your organization compliant. If this is how you feel about your compliance program, there’s probably room for improvement.  A compliance program should be saving your organization money.

What Would Set you Apart from Other Oil Producers?

I had a conversation with a friend of mine who lives in Midland, Texas. She’s married to an Executive in the Oil and Gas Industry and lives on property that is being drilled by a different oil company.  She expressed her frustration with what property owners have to deal with when it comes to not owning mineral rights and how the companies can just “poke holes anywhere they want.”

Training and the FDA – What do They Require?

The FDA requires medical device and drug manufacturers to train their employees. Training must occur for all types of regulated activities from internal quality management software/policies to CFR requirements. The agency expects companies to establish comprehensive procedures that detail how staff members will be trained, but also complies with the QSR record keeping requirements.

Think Ahead of the Curve – Regulatory Compliance Software Choice

Emergency medical technicians and medical trainers are on call at an array of sporting events, from Little League tee ball to the Superbowl. The event organizers do not anticipate participants to pull an ACL or spectators to pass out due to heat exhaustion; however, EMTs attend just in case. Due to the historically risky nature of sporting events, many leagues and associations, from professional to intramural, require EMT to be present before the umpire can yell, “Play ball!”.

The ACA & Healthcare Outpatient Services Impact Perspective

“Risk Shifting”

With the adoption of the Affordable Care Act (ACA) and shift from quantity to quality-based reimbursement models, the healthcare landscape is shifting dramatically as to how providers are paid for their services.  The outpatient market is seeing a dramatic adjustment in the volume of services based on this market demand.  According to a Health Facilities Management article (Health Forum, a subsidiary of AHA®): 

Report: US Power Sector CO2 Levels Down to 1990 Levels

A new NRDC report shares a positive picture about “reduced emissions” of major air pollutants like carbon dioxide, mercury, sulfur dioxide (SO2) and nitrogen oxides (NOx) by nation’s 100 electric power producers, accounting for 85 percent of US’s power production. These include top names like Duke, Southern, Exelon and many others.

Essential Elements of an Effective Whistleblower Hotline and Reporting Program

The Whistleblower Programs, established by regulators like the Securities and Exchange Commission (the “SEC”) in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 that provides monetary incentives to people who report possible violations of the federal securities laws to the SEC, have made it is essential for organizations to implement an effective internal hotline program and incentivize employees to use that hotline.

Information Cyber Security Compliance: How Safe is Your Information?

How detrimental would an information security breach be on your organization?

Lets go back in time!

In July 2013, a data breach at the Department of Energy leaked information affected about 150,000 employees. After a great length of extensive research, an investigation cited a lack of urgency around information cyber security Management software as the violator.

Key Elements of an Effective Regulatory Change Management Program

Due to the increasing number of regulations and the constant changes to those regulations, the cost and complexity of doing business is increasing. In order to stay ahead with changing regulations, organizations require an effective automated and integrated regulatory change management program.

Is Your Document Management System Effective?

One of the biggest challenges for organizations today is the ever-increasing number of rules and regulations, and the pressure to conduct business ethically. With the increasing number of policies, procedures and documents required to ensure compliance, a manual, complex, and inefficient approach to policy and document management is no longer an option.

Proactive Enterprise Risk Management Approach

The U.S. Corporations risk management processes are under increasing regulatory and private scrutiny. The complexity, number, and velocity of risks are increasing and managing the myriad of changes in risk are becoming extremely difficult. Organizations are constantly firefighting and trying to mitigate risk by taking corrective actions. This reactive approach not only increases response time but it might even force these organizations out of business.

SEMS Element #2- Safety and Environmental Information

360factors announces the acquisition of Rosengarten, Smith & Associates, Inc. (RSA) environmental compliance services, environmental remediation and compliance services with offices in Austin, Corpus Christi and Houston, Texas.

Simplicity At Its Best, Using An Integrated GRC Software Solution

When it comes to performing the same types of tasks day after day, week after week, year after year, it is easy to see how easily someone can begin to overlook or skip certain procedural steps.  There are many reasons this could happen, however, I have noted that human error tends to be the cause in one way or another.  This has less to do with the individual and more to do with the fact that there is a lot of information that has to be viewed on a regular basis.  Without an automated process, this can be difficult.

Think Ahead of the Curve – Regulatory Compliance Software Choice

http://www.360factors.com/regulatory-compliance-software/

Emergency medical technicians and medical trainers are on call at an array of sporting events, from Little League tee ball to the Superbowl. The event organizers do not anticipate participants to pull an ACL or spectators to pass out due to heat exhaustion; however, EMTs attend just in case. Due to the historically risky nature of sporting events, many leagues and associations, from professional to intramural, require EMT to be present before the umpire can yell, “Play ball!”.

How using Key Risk Indicators improves your Risk Management Process

Key Risk Indicators (KRIs) are critical predictors of negative events that can adversely impact your business. They monitor changes in the levels of risk exposure and contribute to the early warning signs that enable companies to report risks, prevent crises and mitigate them in time.

An Integrated Approach to Banking/Credit Union Regulatory Compliance Management

Risk management software, audit management software, regulatory management software, policy and procedure software, learning management software and case management system software – these are the tools that find their way into Financial Compliance and Auditors’ world.  These are all individual software which is normally used by one then calculated to help the whole institution’s Banking/Credit Union levels.

Vapor Screening Considerations

In the fall of 2013, regulations governing Phase I Environmental Site Assessment Services (ESA) were amended to include a requirement to conduct a vapor screen. This significant regulatory development should have prompted real estate owners to ask several questions:

So you think Safety and Compliance Don’t Matter?

So you really think not having a rigorous safety and compliance management software system doesn’t matter? Just ask Don Blankenship, former CEO of Massey Energy, who was sentenced Wednesday, April 6^{th, 2016} to one year in federal prison for safety lapses connected to a deadly West Virginia coal mine explosion.

Quality Safety Culture: The Roles and Responsibilities of the Key Players

The Safety Coordinator’s role in implementing a quality safety culture

• Most important – care about the  employees and build relationships (talk to people, show interest, be genuine)
• Put the employees’ health and safety above everything else
• Make smart common sense safety policies and procedures (don’t overkill on the paperwork)
• Get the employees involved in the safety management system
• Carry oneself with integrity, character, and humility
• Build a culture of interdependence where all are working together and employees are looking out for each other

Why Is It So Hard To Comply With My Air Permit?

Complying with your air permit seems like an obvious need for any industrial facility. But depending on your facility’s operations, the State in which your facility is located, and, believe it or not, the State employee who’s been assigned to review your permit application and issue the permit, your permit’s record keeping and reporting requirements may be extensive and exhaustive. Larger corporations are likely to have dedicated, in-house environmental staff to handle these requirements. Small and medium sized business, who may own and operate a facility identical to one owned and operated by larger corporations, will have similarly extensive requirements, but they are not nearly as likely to have the same in-house staff.

The Importance of Usability in GRC Software

When it comes to governance, risk, and compliance, simplicity is not the first thing that comes to mind. Working in regulatory compliance can seem like an over-complicated maze of run-on sentences and unclear requirements at times. But it doesn’t have to be that way.

Oil & Gas Industry Regulatory Compliance Automation

What is it going to take for the oil and gas industry to step into the 21^st century and automate regulatory compliance?  How will regulatory change management software affect the industry? Will incident rates decrease? What do you think?

RSA and 360factors FREE Dredge Best Practices Seminar on 23 April

The La Quinta Channel Dredging Project celebrated it first year anniversary of completion this February. A dredging project of this magnitude involved extending the channel approximately 1.4 miles (with a depth of 39 feet) and constructing an ecosystem restoration feature for the protection of endangered species, wetlands and seagrass.

Benefits of a Successful Safety Management System

Taking a systematic approach to safety management makes managing your business both easier and more effective. It allows you to work out the best way to handle each aspect of your organization’s safety program while making sure that everyone uses the same approach every time.

Why Hotline Reporting Matters

Attention to ethics in the workplace and the demand for ethics and compliance regulations gained momentum as a result of several highly publicized corporate accounting scandals that occurred in the early 2000s, most notably those involving Enron, Tyco and WorldCom. In the wake of these financial debacles, public outcry demanded that the federal government step in and take strong, swift action to prevent these corporate improprieties from occurring again. This led to the enactment of Sarbanes-Oxley (SOX), federal legislation that set forth a host of new standards for corporate accountability regarding financial practices of publicly held companies, as well as penalties for non-compliance.

Weather the Storm of Policy and Procedure Management

Storm of Content

The Affordable Care Act. HIPAA. OSHA. If there is one thing hospitals aren’t short of these days, it’s new rules and regulations. And for every fresh law or regulation that gets passed, new or updated policies follow. Add in new technology adoption by the way of Electronic Health Records (EHRs) or mobile health and you’ve got a storm of seemingly countless—and constantly changing—policies and procedures that overworked employees must navigate daily.