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Accountant at Work

Compliance, Monitoring, and Reporting


Client Profile:

A publicly-traded diversified energy company involved in the development and management of energy-related businesses and services nationwide with $12+ billion in revenue, $28 billion in assets, and 10,000+ employees.

Client Challenge:

A large utility company was developing a customer-focused Compliance & Monitoring group. This new group had three primary goals: provide assurance risks impacting customers were mitigated; ensure employee transactions with customers were in compliance with policies and procedures, and support the company’s leadership with customer lifecycle monitoring scorecards.


Approach & Solution:

Herndonwood consultants worked with the Compliance & Monitoring group to establish a Compliance & Monitoring framework, a process to identify and address non-compliant employee transactions, and employee and customer monitoring scorecards.

Our services included:

  • Identified and mapped key processes, sub-processes, and related risks and controls

  • Documented deviations in a Gap Report, highlighting unmitigated risks

  • Investigated and resolved deviations

  • Developed a custom reporting database to report on employee transactions

  • Prepared test plans to identify non-compliant transactions

  • Established Employee and Customer Scorecards


Business Impact:

Herndonwood conducted a comprehensive evaluation of the customer lifecycle creating an enhanced view of end-to-end customer interactions with the company. This provided a baseline for risk assessment and management of risk mitigation through policies and controls. Additionally, Herndonwood assisted the Compliance & Monitoring team in developing a methodology for testing and reporting on employee transactions.

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