The importance of a 231 model
It is crucial for companies to map at-risk activities, link them to the related criminal offences and involve all departments in risk assessment. Risks must be assessed in terms of probability, impact, effectiveness of existing controls, and risk remaining despite controls.
That’s why each at-risk activity requires effective protocols to guard against the related criminal offence. Just as importantly, protocols must be kept up to date with organisational and regulatory changes.
Another key part of optimising 231 model management is to ensure that information flows to internal supervisory bodies (SBs) as efficiently as possible and that SBs have all the tools they need to best manage controls.
The main challenge: how to ensure proper management of 231 matters
We sat down with some of our clients to examine the traditional method of managing 231 matters with a critical eye. Was it really efficient to draw up models based on criminal-offence type, complex risk-assessment Excel worksheets and, above all, so much paper?
Our solution: a cloud-based platform for 231 management
We knew things could be better – so we made our 231-management platform available in cloud form. Clients thus no longer have to deal with the hassle of a complicated and expensive IT project.
Our platform allows them to:
- digitalise the entire risk-assessment process and automate data processing
- create a digital library of protocols organised by department/process/criminal offence
- automate certain updates to risk assessments and 231 models
- bring uniformity to information flows and reporting systems, with guided drafting of reports
- create a system for scheduling and reporting on controls
How we made a difference
The competitive advantage of our 231 management platform
It is now a breeze for clients to shift from a criminal-offence-based 231 model – which is difficult to use and manage – to a process-based model, which is a much more efficient way to ensure every company department is aware of and applies the model.
Clients can establish control points that cannot be avoided, even in the event of blatant violation of the rules set out in the 231 model.
And the platform improves the user experience for all departments involved, as assessments and information flows go through the app. This brings big time savings and ensures that information is provided in a consistent way.
Clients have access to interactive dashboards to view and monitor risks and protocols by company, department, process and criminal offences.