How To Use A Compliance Risk Assessment Matrix

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A part of any effective compliance program is risk assessment review. To uncover those potential risks that exist in the compliance context, it’s important for you and your team to review your program regularly. FSGO guidelines and related standards can help you build a compliance risk assessment matrix for you to work through to prove you are committed to continuous improvement.

Convercent’s integrated platform can help you get the metrics you need to determine risk through data inputs such as your hotline, employee data, disclosure trends — all in one centralized location. You can then take that data and examine any potential risk alongside federal guidelines. Make sure your compliance risk assessment matrix is robust and aligned FSGO with Convercent’s:

  • Predictive reporting and real-time dashboards that show up-to-the-minute analytics, progress, and compliance hotspots
  • Integration of hotline intake with case management to better manage employee behavior issues
  • Access to integrated data across your company to help you steer policies to mitigate misconduct
  • Automate COI forms to create greater transparency and efficiency

Download our FSGO Benchmarking Guide to review your compliance risk assessment matrix with our sample program review guide designed to assess each program hallmark using the FSGO’s framework and maturity scale rating.

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