Shared Compliance Management Office - sCMO

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Information about Shared Compliance Management Office - sCMO

Published on February 27, 2014

Author: navin_malhotra



This presentation will talk in brief about what is compliance management office.

Shared Compliance Management Office

What is Compliance Management? Compliance Management is a practice through which we manage compliance assessment, verification, reporting and mitigation. If we are catering to multiple geography and multiple industries and sectors this become more complex because of the underlying compliance requirement from customers, industry and internal organizational requirements. Few of those are listed below but are not limited to: •ITSM •CMMi •ISO standards (9001, 2000, 270001) •AS9001 •TL9001 •CoBIT •SSAE •SoX •PCI-DSS •Data Privacy •Industry regulations like FDA, HIPPA •Client Specific Compliances into physical and logical security requirements 2

Why Compliance Management is important? Any gaps or risk arising out of compliance failures will result in • Client escalations / penalties • Penalties or actions from regulatory bodies • Business disruptions To avoid any such risks / issues we need to have an independent and skilled group who manages the entire lifecycle of compliance management. The challenge to do so is the cost associated with the compliance management, since we need to have multiple teams and resources working on the different compliance requirement associated with the domain areas we are executing for our customers. It could be IT operations, finance, security, service outsourcing and latest the cloud environments. In normal practice we have seen that bigger the organization more they need to invest for assuring they are meeting the minimum level of compliance. Their teams might be sitting across the locations and might not have visibility to each other because of the way the group is organized across the geography. The above challenges sometimes result is mismatch of the compliance requirements for a particular region or may also result in repeat compliance activities. 3

What is Shared Compliance Management Office? A shared Compliance Management Office (sCMO) works on the basis of shared workload for multiple customers. In sCMO, a single resource will be working on multiple customers involving different compliance activities. The entire sCMO team will be reporting in to single group avoiding the visibility issues. This kind of set will not only help in better utilization of resources and compliance function but will help an organization in building a robust and complete compliance function which will cater to all industry, customer, regulatory and internal compliance requirements of an organization. The sCMO will also help in reduced cost to customer since we are working in a mutualized way where a single resource will be working on multiple customer. (Here we need to be cautious in case a customer require a dedicated resource because of regulatory or compliance requirement) 4

Compliance Management Cycle Compliance Requirement Analysis Compliance Improvement sCMO* Control & Test Designing Compliance Reporting Test of Design (ToD) / Test of Control (ToC) 5

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