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Control Framework Breakfast Group

Join us on 21st June for a workshop focusing on progress tracking within the Control Framework. Learn about key checkpoints, project ownership, risk assessment, and more. Engage in discussions and share best practices to ensure compliance.

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Control Framework Breakfast Group

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  1. Control Framework Control Framework Breakfast Group 21st June Agenda • 09:15 Arrival – Breakfast served • 09:30 Workshop Group Questions • 10.30 Networking

  2. Control Framework Checkpoint Progress • Checkpoint 2: By end of Jan 2012 • Allocate Project Owner • Confirm Start Date • Checkpoint 3: By end Q2/2012 • Assess Risks • Identify Controls and Gaps • Checkpoint 4: By end Q2/2012 • Evidence remediation plan • Checkpoint 5: By end Q2/2012 • Agree assurance to be shared

  3. Control Framework Workshop Questions Question 1 Scoping. How did you determine what was “Service Company Business” with regard to Phase 1 of the Lloyd’s Control Framework Project at your organisation/s? Not a “Service Company” under Control Framework NO wholly owned by the group capital provider? “Service Company” under Control Framework YES Risks processed on an individual basis? YES NO

  4. Control Framework Workshop Questions Question 2 Who (which department/role) is responsible for regular reporting on progress of the Control Framework Project to the board? How often does this happen? Why does this project need to be visible at board level? • Board sign off on the Control Framework is mandatory by June 2013 • Internal audit required in order for sign off to occur? • Board authorisation and monitoring to allocate resource if required?

  5. Control Framework Workshop Questions Question 3 How did you obtain project support for the Lloyd’s Control Framework at: a) Board level and b) a departmental level within your organisation/s? Which departments are represented on the Control Framework project team currently? • Compliance • Tax • IT • Operations • Underwriting • Internal Audit

  6. Control Framework Workshop Questions Question 4 In your experience, what were the best existing resources to assess whether your organisation/s meets the requirements within the Control Framework User Guide? Why? • Underwriting Platform • Operating Manuals • Training logs • Risk Logs • MI reports • Past Audit Reports

  7. Control Framework Questions?

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