The risk and gap assessment is your macro-level review of everything you have in place: policies, procedures, training, or any auditing controls. This assessment is what companies like yours use to evaluate if your organization's risk profile, to find out if and how it has changed, and to figure out how to remediate those risks. In short, this is THE tool to use to find the gaps in your policies, procedures, and controls.
Why Should You Conduct a Risk and Gap Assessment?
If your organization - large or small - hasn't done a risk and gap analysis on your collections practices in some time, you’re losing money: either to consumer attorneys (or yikes…a regulator), through uncaptured funds or to plain old waste. Do you know all of the gaps in your Compliance Management System that open the door to lawsuits or regulatory risk? How about those that result in wasted time, energy, or resources? What about gaps that may seriously impede your company's ability to capture as much revenue as possible? So, how much revenue are you willing to lose?
In A Complete Guide to Risk and Gap Assessments, a five-part, on-demand video series from insideARM and Research Assistant, you'll get the insight you need to understand risk and gap assessments, sell your colleagues on their value, win internal buy-in, organize an assessment, run one, and leverage it.
Here are the links to all five on-demand risk and gap assessment videos:
Hey, wait! There's more where this came from
With Research Assistant (from insideARM), we talk about what's really happenening in industry compliance all the time. And occasionally, we also send out practical insights like this to a wider audience. Want to make sure you get the new stuff sent straight to your inbox?