Compliance Incidents | Wolters Kluwer Financial Services OneSumX
  • Wolters Kluwer Financial Services Banner Image

Compliance Incidents

  • Maintain a consistent, timely and structured approach to identifying, capturing, analyzing and reporting on operational incidents, losses, breaches and financial profit from errors.

    OneSumX GRC Compliance Incident recording promotes transparent, effective management of incidents, loss events and compliance breaches. Incident records can be used to highlight emerging trends, identify control gaps and underscore correlations between losses, risks and controls. The use of the incident recording function will:

    • Promote transparent and effective management of incidents and minimize negative effects
    • Drive root cause analysis that can be used to implement process improvements
    • Highlight emerging trends and identify control gaps
    • Underscore correlations between risks and controls
    • Provide objective data that can be used to quantify operational risk for risk-based capital calculation
    • Reinforce accountability for managing operational risk within the business
    • Provide an independent source of information that can be used to challenge risk and controls assessment and Indicator data
    • Demonstrate compliance with international and local regulations