RVR Parad answers key challenges faced by companies and organizations:
- Ensure the compliance with internal control regulations and norms – LSF, AMF and COSO frameworks, Sarbanes-Oxley, Basel III for banks, Solvability II for insurance, duty of care legislation, GDPR…
- Contribute to the alignment and optimization of business processes within the firm.
- Enhance the reliability of communication to third parties and facilitate the drafting of the annual report on internal control.
RVR Parad offers an integrated, flexible and easy-to-use solution:
Internal control frameworksThe solution enables to administrate risk and control frameworks by processes, regulations, norms, business activities, etc. These frameworks can be shared with other risk and compliance projects within the firm.
Internal control questionnairesThe solution enables to send internal control questionnaires for assessment of compliance level by the local entities.
Control documentation and testingAll the key steps of a complex internal control project are supported by the solution: documentation, assessment, and testing of controls, follow up of issues and remediation plans. The testing scope can be managed efficiently by focusing the testing effort on high-risk areas and key controls.
Action plansUsers may create and follow up action plans by deadline, owner, status, etc.
Analysis and reportingThe tool offers dashboards and customizable reports allowing analyzing the organization’s compliance level by entities, processes, risks, regulations, etc.