Govenance, the single most important word in the financial industry today. How policies are set, the way in which procedures are developed, and the interaction of team members including clearly defined roles and responsibilities all add up to governance. If you feel panicked because you can't get your arms around governance in a coherent way, step back and consider three aspects. First, understand which are the most relevant, pose the biggest risks and understand how the risks are being managed. Second, create an inventory the policies, types of proedures, where and how they are managed, and who has responsibility for updating policies and procedures. Third, design a consistent framework to assess the environment and produce metrics for reporting.
At K Gowin Consulting, we can help you evaluate your governance criteria, assess the effectiveness of policies and procedures, and understand the impact regulations are having on the governance of your business. We can work with you to review your current governance policies and make recommendations to strengthen those policies. We can also help you communicate changes in governance and define the responsibilities for those staff members in a governance role. Contact us today to start the conversation.