Considering the advent of digital services and commercial usage of IT by organizations, the regulatory authorities worldwide are focusing on introducing specialized frameworks which must be used by financial institutions and e-commerce firms in particular to organize and further improve their IT Governance, Cyber & Information security and IT operations domains.
Business Beam supports your organization to implement and achieve compliance towards your relevant industry or regulatory requirements by adopting such standards and regulations.
Leading Regional & International Regulatory Frameworks
ETGF – Enterprise Technology Governance Framework – State Bank of Pakistan Best Practices Framework for Financial Institutions
UAE – National Electronic Security Authority (NESA / SIA) – Information Assurance Standard
Dubai Electronic Security Center – Information Security Regulation v2 (ISR)
EU General Data Protection Regulation (GDPR)
Saudi Arabia Monetary Authority (SAMA) – Cyber Security Framework
Why to implement regulatory frameworks?
Organizations implementing regulatory frameworks see results as follows:
- Improved compliance to regulatory requirements
- Safeguard of business goodwill and reputation
- Reduced risks of regulatory fines and penalties
- Continual improvement
- Consistency, standardization, transparency & visibility
- Proactive monitoring and responding to evolving regulatory non-compliance
- Better involvement of stakeholders, definition / allocation of appropriate roles and responsibilities
- Improvement in internal controls and hence bringing more operational efficiency
- Better management of risks pertaining to customers’ & business data, information assets and business services respectively
Business Beam helps in Effective Implementation
We help our customers in establishing requirements of specific frameworks. Our highly customized and tailored approach helps organizations in effectively and quickly implementing the requirements.
Salient features of our service are as follows:
- Executive Coaching: Our experienced consulting partners are expert in organizational change management. They discuss and understand your most important and complex management issues and provide strategic advice for success in line with the requirements and expectations of your regulatory bodies.
- Strategic Alignment: We ensure Executive Management involvement & commitment through strategic level planning, goals setting, definition of roles and responsibilities, governance level policies, and supporting action plans to meet the requirements of the relevant frameworks.
- Process Consultancy: Successful process improvement efforts require a cohesive process architecture. Our process consultants will help you to establish required roles & responsibilities by using internationally recognized techniques, designing of all policies, procedures, and plans recommended by the relevant frameworks.
- Rollout Support: Governance & management of specific domains can never be effective unless the control requirements and their benefits are not well understood by the managers, practitioners and staff. We provide training, coaching, advisory and hand holding support to ensure that the implemented policies, processes, procedures are effectively rolled out & implemented.
- Performance Management: No management system could succeed and achieved its intended business outcomes unless it is not formally measured and evaluated. We help in designing a performance management system based on KPIs, Metrics, KRIs, Dashboards Corrective & Preventive actions to ensure that performance is monitored and managed to deliver optimum results thus enabling informed decision making.
- Sustenance Support: Implementing a framework is only beginning of the journey, sustaining the same over time is even a bigger challenge. After successful implementation, we provide sustenance support ensuring continual improvements and long-lasting culture adoption.
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