
Compliance, Monitoring, and Reporting
CLIENT SUCCESS STORIES
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.
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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.
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Our services included:
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Identified and mapped key processes, sub-processes, and related risks and controls
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Documented deviations in a Gap Report, highlighting unmitigated risks
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Investigated and resolved deviations
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Developed a custom reporting database to report on employee transactions
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Prepared test plans to identify non-compliant transactions
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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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