IFRM - Investigation and Fraud Risk Management

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A Protiviti presentation discussing IFRM and what organizations need to build a solid infrastructure for evaluating, mitigating, investigating, reporting and monitoring their risk of fraud, corruption and misconduct.

Transcript of IFRM - Investigation and Fraud Risk Management

Protiviti Proposal Template

Investigations & Fraud Risk Management Solution

Investigations | Forensic Accounting Fraud Risk Management | Anti-Corruption

2013 Protiviti Inc.#0Protiviti BackgroundProtiviti (www.protiviti.com) is a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit. Through our network of more than 70 offices in over 20 countries, we have served more than 35 percent of FORTUNE 1000 and Global 500 companies. We also work with smaller, growing companies, including those looking to go public, as well as with government agencies. Protiviti is a wholly owned subsidiary of Robert Half International Inc. (NYSE: RHI). Founded in 1948, Robert Half International is a member of the S&P 500 index.IFRM PracticeDeep SME in anti-corruption, fraud, investigative due diligence and use of enabling technologies to drive complianceForensic AccountingInternational InvestigationsFraud Risk ManagementGovernance PortalMore than 400 Financial Control and Assessment implementations150+ GRC customersRisk Technologies GroupStrategic division of Protiviti specializing in software development and technology integrationResponsibility for design, development and support of Governance PortalOperations in US and India24 X 5 Customer Support

2,900+ professionals1,000+ clients70+ officesOver 20 countries in the Americas, Europe and Asia-PacificProtiviti is one of the fastest growing consulting firms worldwide. Our revenues have increased from US $15 million in 2002, to US $453 million in 2012. 2013 Protiviti Inc.#1Investigations & Fraud Risk Management SolutionUnderstanding | Building | ExecutingProtivitis Investigations & Fraud Risk Management consultants help organizations build a solid infrastructure for evaluating, mitigating, investigating, reporting and monitoring their risk of fraud, corruption and misconduct.

Understanding organizational vulnerabilities and establishing an appropriate framework to identify and respond to them is essential in todays global marketplace, as regulators are demanding more active management and investigation of a wide range of risks including financial crime, fraud and corruption.

Our Investigations & Fraud Risk Management professionals assist organizations with building sustainable anti-corruption, investigative and fraud risk assessment processes and developing anti-fraud, anti-corruption and investigative programs and controls to meet fiduciary and regulatory responsibilities. We support organizations in their efforts to identify, triage, investigate, report and monitor a wide array of risks at every level, from the performance of risk assessments, program design or remediation, risk governance, employee training to audits of anti-corruption, fraud and investigation programs and processes.

The IFRM teams unique blend of anti-corruption, fraud risk management and investigative subject matter expertise, can quickly identify program shortcomings and remediate your critically important programs. The team also has extensive experience in undertaking investigations of suspected violations of those programs leveraging investigative, forensic accounting and technology disciplines across our global footprint to provide our clients the experience and local resources necessary to gather the facts necessary to make informed business decisions. UnderstandingBuildingExecuting 2013 Protiviti Inc.#Investigations & Fraud Risk Management SolutionIFRM ServicesThe IFRM Practices services include:

Third-Party Anti-Corruption Investigative Due Diligence Forensic Accounting / Financial Crime InvestigationsAnti-Corruption AdvisoryBribery and Corruption InvestigationsFraud Risk Management Corporate Investigations Advisory / Financial Intelligence

IFRM practitioners bring a strategic approach to assisting clients in identifying issues, developing and implementing action plans and building sustainable regulatory compliance, investigative and monitoring processes that drive accountability and meet or exceed regulatory expectations. Assess | investigateremediate | report

2013 Protiviti Inc.#Investigations & Fraud Risk Management SolutionProtiviti can rapidly deploy investigative teams wherever they are needed. With ~2900 professionals,70+ offices in over 20 countries, Protiviti has the bench strength, local knowledge and language capabilities to fully support legal, compliance and security professionals across a broad spectrum of investigative requirements. Global Reach/Local ResourcesProtivitis Governance Portal enables some of the worlds leading companies to better manage and track their global compliance responsibilities. The portals anti-corruption module enables companies to apply a risk-based approach to the third parties with whom and through whom they do business and is designed to serve as the backbone of an anti-corruption program. Working Smart with Enabling TechnologiesWhile having a thoughtfully conceived anti-corruption policy is critically important, implementing the underlying procedures and aligning them with internal controls is what operationalizes an anti-corruption program. Protiviti has unparalleled expertise in putting internal controls into production in global organizations. Including anti-corruption subject matter experts in the design and implementation of controls enables global companies to put their anti-corruption programs into action. Aligning Controls and Internal Audit Programs with the Anti-Corruption Program 2013 Protiviti Inc.#Working Smart with Enabling Technologies Third Party Anti-Corruption Key Features and Differentiators

Turn Key Solution Data Intake; Email; Proprietary Risk Scoring; Case, Work Flow and Document Management; Integrated Investigative Due Diligence; Audit Trail; Project Management and Performance Metrics

Automated Risk Scoring - Significantly Narrows Focus Allowing for More Judicious Use of Limited Resources

Highly Rated GRC Platform - with Deep Anti-Corruption and Due Diligence Investigation Subject Matter Expertise

Highly Adaptable Solution - that Makes Extensive Use of Conditional Logic/Dynamic Questionnaires, Client Branded Surveys and User Interfaces

Drives Accountability - and Can Be Used to Manage Ongoing Correspondence, Link Through to Online Training and Annual Certification

Single Solution - To Manage Overall Third Party Program Across Multiple Countries, Languages, Lines of Business 2013 Protiviti Inc.#Supporting Your Third Party Anti-Corruption RequirementsAlign key elements of clients third party anti-corruption program with program scope, controls, frameworks and hierarchies. Within these hierarchies, defined corporate objectives, risks, controls in support of internally-driven performance objectives.

Program AlignmentAgree on phased deployment and accountability strategy to ensure each in scope third party is routed through anti-corruption module before onboarding or contract renewal. Piloting the program in a few key markets allows for less disruption. Deployment

Defining Roles, agreeing on Questionnaire wording; language; risk scoring; approval hierarchies; case, work-flow & document management; due diligence protocols. Communicate internally/ externally to raise awareness/accountability.Workflow & Survey

Deliver risk score cards, due diligence reports and overall project and individual performance metrics via configurable workflow and flexible, ad hoc reporting that ultimately drives managements decision-making.Reporting & Analysis

WE WILL HELP YOU MOVE FROM STRATEGY TO EXECUTION 2013 Protiviti Inc.#6Third Party Anti-Corruption

Risk Score Card for Compliance Review

Business Sponsor Initiates OnboardingThird Party Completes SurveyBusiness Sponsor Reviews Responses

High Risk 3Ps Subjected to Swift Report ResearchCompliance Review & Disposition

2013 Protiviti Inc.#Third Party Anti-Corruption Due Diligence InvestigationsSwift Reports These are risk and volume appropriate due diligence investigations based entirely on open-source, publicly available information in English and, wherever possible the local language. They include the following:English and Local Language Adverse Media Research (28 languages)English and Local Language Adverse Internet ResearchA More Fulsome, Secondary Review of the Watchlist Research Already PerformedCorporate registration (If available within the applicable country/region)Critical Analysis of FindingsColor Coding to Assist in Review Prioritization (Useful when dealing with large volumes of reports)Action Items Raised for Follow-Up by Business Sponsors, Compliance and/or Protiviti Investigators

Enhanced Due Diligence Typically used judiciously when significant open items cannot be resolved using open sources. EDD investigations often include:Site Visits, Photographs, Neighborhood InvestigationsManual / Local Public Records ResearchLimited Human Intelligence Research

2013 Protiviti Inc.#Investigative Due DiligenceKey Features and DifferentiatorsPurposeAt its essence, Investigative Due Diligence is targeted research on individuals and entities to provide detailed, timely information to enable our clients to make more informed risk-based decisions as to the overall suitability of prospective business partners or existing commercial relationships whose circumstances have changed or in which the relationship is under review. In investigations and behavioral science, it is often said that the best predictor of future behavior is past behavior. Protiviti investigators painstakingly examine wide ranging information sources to examine any past behavior that could be predictive and present those findings in the context of the specific risks the client is seeking to miti