Taking the Bait

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Th e M Rep o RT | 25 Feature oversight responsibility for the compliance and ethics programs, policies, and procedures; delegate responsibility for ensuring com- pliance; and determine prioriti- zation and resources necessary to have an effective compliance program. Security Advisory Board T he purpose of a Security Advisory Board (SAB) is to provide continuity of knowledge, leadership, executive oversight and guidance for security policies and activities. The SAB acts as the governing body for risk and compliance for all of the organization. This includes both physical and information security. Through the assessment of security risk and application of appropriate controls, the SAB is continually focused on the protection of confidential data and integrity of assets in support of business objectives, physical and financial resources, reputa- tion, legal position, employees, partners, and other tangible and intangible assets. Quality Council C omprised of executive leader- ship, the Quality Council's main focus is to review progress on quality assurance efforts and drive change based on the results of internal audits and quality as- surance initiatives. The objectives of the Quality Council include: • Report on key metrics such as quality control results and in- ternal operations audit findings. • Discuss trends impacting qual- ity of services and agree on short- and long-term actions to address quality problems. • Provide updates on quality improvement initiatives and prioritize quality improvement initiatives and resources. The governance structure can be organized within any framework that meets the orga- nization's goals and objectives. The key point is that executive leadership is continually involved in risk management and that a transparent and actionable environment is created within an organization. The enhanced focus on compliance brought on by the regulators has proven to provide a solid framework for third-party oversight—something that was much needed in the field services industry. Those who welcome the changes and continue to invest in the resources neces- sary to improve their organiza- tion will continue to flourish in this dynamic environment. This requires the collaboration and partnership with their clients, executive ownership, and under- standing of risk factors that af- fect day-to-day activities, proper investment in both human and technological resources, and a fo- cused partnership with vendors through collaborative third-party oversight.

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