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Control Framework Breakfast Group

Control Framework. Control Framework Breakfast Group. 29 th May Agenda 9.15 Arrival – Tea/Coffee served 9.30 Breakfast served 9.45 The importance of the Framework within the world of Service Companies 10.15 Q&A 10.30 Networking 11.00 Close. Q2. Q2. Q1. Q2. Q3. Q3. Q4.

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Control Framework Breakfast Group

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  1. Control Framework Control Framework Breakfast Group 29th May Agenda • 9.15 Arrival – Tea/Coffee served • 9.30 Breakfast served • 9.45 The importance of the Framework within the world of Service Companies • 10.15 Q&A • 10.30 Networking • 11.00 Close

  2. Q2 Q2 Q1 Q2 Q3 Q3 Q4 Q4 2013 2011 2012 Q1 Understand project rationale Understand data standards & control framework Assess risks Identify controls & gaps Agree assurance approach with Lloyd’s Design & plan implementation Develop / Implement controls Review & monitor Activities Activities Activities Activities • Complete the Risk Assessment • Document key controls • Produce remediation plan to address • any gaps • Confirm evidence required for • effective controls • Determine the extent of sharing • assurance with Lloyd’s • Assess impact from changes • Plan the implementation & change • management • Controls and procedures in • operation • Training sessions • Stakeholder communication • sessions • Confirm test plan for controls • Confirm audit check list Lloyd’s meet with managing agents to explain what is required of the managing agents Analyse and assess where each managing agent wants to be by 2012 • Test controls • On-going feedback & monitor Outputs Outputs Outputs Outputs • Risk assessment and control matrix • Design adequacy assessment • Evidence retention plan • Content agreed on the evidence • based assurance • Detailed impact analysis • Implementation plan, including • change management Each managing agent: has identified a framework owner has set up a Governance Group with roles and responsibilities assigned has a project team to see the implementation through has carried out a high level impact analysis Operations procedure manual Training material Stakeholder communication pack Audit check list • Design effectiveness report • Operational effectiveness • report • Report review

  3. 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

  4. Control Framework • Questions?

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