Governance, requirements, triggers and follow-up
Set up the governance framework; distribute it to the operations, online controls and follow-up.
iFACTS Governance supports set-up activities and distribution of Governance to Operations in a “lean” manner. The follow up of the fulfillment of controls is automatically checked online.
Examples of Governance areas are:
- IT policies
- Health Safety Environment (HSE)
- Financial reporting
- Strategic planning
- Project management
- Solvency II
- Risk management
iFACTS Governance is designed to support Lean Governance with the iFACTS method. A shared information model is utilized, which allows Governance to connect to Operations and allows online checks for fulfillment.
One key functionality of iFACTS Governance is the Requirement library. It acts as a translator of high level policies to concrete requirements that can be distributed to the correct asset or role. For example, a policy may call for “relevant access control” and the actual requirement is “password 12 characters”.
Another key functionality is the trigger system. Not all assets should have the password standard mentioned above. It depends on business criticality, confidentiality etc. The trigger functionality allows for different settings.
Lean Governance by iFACTS includes techniques to formulate governance and requirements and a way to distribute it – all in a lean manner.
Typical work steps in the iFACTS Governance structure include:
- Governance controls
- Connection to requirement library
- Trigger settings
- Status settings
- Dynamic setup of structure and roles
- Dynamic setup of Governance controls
- Governance responsible
- Requirement library
- Trigger settings
- Notification, approval
- Documentation center
- Non-conformity handling
- Master data, API, Integration
- Report generator
- Link IIA
- Link Lean Governance