Introduction: TalPoint’s client is a reputable publicly traded entity with approximately 15 diversified business units, employing a workforce of 45,000. Operating on a global scale presents intricate risk management challenges. The lack of a unified compliance framework across all units hindered the conglomerate’s ability to mitigate risks effectively and ensure a consistent approach to security, risk, and compliance.

The Problem: The absence of a common set of controls for global risk management led to inconsistent compliance practices among the business units. This inconsistency posed a significant risk, created operational inefficiencies, and made it difficult to evaluate risk at the enterprise level.

Engagement: To address this critical issue, the client engaged TalPoint, a firm known for its expertise in developing robust compliance programs. The objective was to create a comprehensive compliance framework that could be adopted across all business units to ensure a standardized approach to risk management and regulatory compliance.

Solution: TalPoint worked with the client team to meticulously understand the problem they were trying to solve and the outcome they wanted to deliver to the organization. In a brief period of time, they developed a tailored project to fit the clients’ exact needs.

Program Development:

1. Creation of a holistic compliance program included incorporating best practices from various risk management frameworks.
2. Training: Conducted training sessions for the staff at each of the business units across North America and EMEA to ensure a thorough understanding and adherence to the new compliance standards.
3. Implementation: Assisted in the rollout of the program across all business units, ensuring smooth integration with existing processes.

Results: The new compliance program significantly matured the client’s global risk management capabilities.

• Uniform Compliance Practices: The common set of controls worked to foster uniform compliance practices across all business units.
• Improved Risk Mitigation: The ability to identify, assess, and mitigate risk markedly improved.
• Annual Internal Audits: TalPoint experts conducted annual internal audits to ensure continuous adherence to the compliance program, providing insights for further refinement.

Conclusion: The collaboration between our client and TalPoint successfully elevated the conglomerate’s global risk management practices, demonstrating the imperative for a unified compliance framework in maintaining operational excellence and regulatory adherence in a complex multinational business environment.