Data-Driven Risk and Performance Management: Using Transactional Data to Detect Fraud, Ensure Regulatory Compliance, and Outrun Competitors (Paperback)
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Executives and IT professionals lose sleep over issues of employee fraud, failing to comply with regulations, competitor challenges, poor quality products, running afoul of foreign laws, intrusions into payment systems, and much more. Data-Driven Risk and Performance Management: Using Transactional Data to Detect Fraud, Ensure Regulatory Compliance, and Outrun Competitors offers immediate help. It shows how a company can use its own production, sales, regulatory, and other data streams to ensure compliance, improve governance, and avoid becoming a victim of internal or external fraud. It also offers data-driven techniques companies can use to meet performance goals and beat back competitive threats.
Unfortunately, most organizations manage risk, performance, and compliance-related activities relatively blindly. They focus on those areas perceived to be risks, rather than those that actually are. But as IT risk and governance expert Dan Zitting demonstrates, you can zero in on the risks pertinent to your business, and then gain deep insight into the efficacy of your controls, performance management architecture, and governance policies. As you ll see, the practical risk-and-control framework he outlines, combined with powerful data analysis and concrete recipes, will help you maintain fiduciary oversight and regulatory compliance while mitigating risks like fraud, reputational blunders, and financial leakage.Specifically, Data-Driven Risk and Performance Management shows how you can use the transactional data already in your relational database management systems like sales, cash movements, regulatory filings, or production data to do "big data" style analyses. These can root out fraud, help you spot competitive trends, prevent product or service failures, maintain safety and environmental controls, and reveal policy or legal violations, among other things. Moreover, it provides specific IT systems recipes to uncover such things as: Production and quality problemsSocial media slip-upsEthical lapsesSupply chain failuresStealthy competitive entries into your marketsCustomer dissatisfactionData-driven Risk and Performance Management will provide the risk, control, and testing tools you need to boost organizational performance, improve the bottom line, and become a key player in achieving your firm's strategic objectives.
What you'll learnHow to set up a data-driven system to detect fraud, bribery, money laundering, financial malfeasance, and other illegal or damaging acts.Specific recipes for building risk-management and governance systems How to employ a structured methodology for unpacking organizational governance, risk, and compliance issues and create a consolidated framework to manage risks and controls How to develop tests that identify the valid occurrence of issues of concern How to translate tests into analytics that use powerful technology to assess and monitor entire populations of data on an automated and ongoing basis How to connect the entire GRC process to strategic performance objectives to enable you to manage corporate performance Who this book is for
The primary audience includes IT professionals, programmers, auditors, compliance professionals, risk managers, data analysts, and executives. The book is also for legal and finance professionals.
About the Author
Dan Zitting, vice president for product management and design AT ACL Services, is responsible for product strategy, product management, design, and user experience for ACL's industry-leading software products. Fifteen thousand customers globally, including 89% of Fortune 500 companies, use ACL software. Dan's ten years of experience in the audit and risk assurance industry prior to ACL were spent in the IT Risk Assurance practice at Ernst & Young and as a partner and co-founder at Linford & Company LLP, a provider of governance, risk, compliance, and assurance (GRC) services to a clientele across North America, Europe, India, and East Asia. While building his practice, he developed a web-based audit and compliance management system that was quickly adopted by clients and led to founding cloud software provider Workpapers.com, which was acquired by ACL in late 2011. Dan is dedicated to the advancement of productivity-enhancing technology for the GRC professions and is a four-time winner of the CPA Practice Advisor Magazine's 40 under 40 as well as Readers' Choice awards. Dan is a Certified Public Accountant, Certified GRC Professional, Certified Information System Auditor, and Certified Information Technology Professional. He holds a B.S. from Colorado State University and an M.S. from the University of Notre Dame.