Delivering Mandatory Change

Organisations worldwide face an ever-increasing array of rules and regulations with which they must comply. The huge burden that many public companies have faced in complying with the Sarbanes Oxley Act in the US is recent proof that compliance cannot be taken lightly. Investment in compliance is typically seen as cost of doing business with no positive benefit on the bottom line and during the period of implementation, compliance can be disruptive and demoralising for the organisation as a whole.

There are endless examples of Mandatory and Regulatory change, the most well publicised being:

• across the US, public companies have been forced to apply enhanced controls over financial reporting by the Sarbanes Oxley Act as have any organisation that regularly transacts in the US
• in banking, the ability to build risk management systems which comply with the Basel 2 accord permits firms to adopt the most appropriate capital structure for their risk profile
• in the pharmaceutical industry, compliance with 21 CFR Part 11 regulation is critical to obtaining FDA approval for drug releases
• in power markets, regional power utility commissions are using increasingly sophisticated tools to monitor and ensure market power is never abused
• in the insurance industry, regulators control the writing of policies by admitting only those companies which are able to comply with state regulations, and monitor activity closely to identify abuses.

PIPC Approach

PIPC creates customised compliance programmes for our clients. Whether an organisation is proactively working to comply with impending legislation, reactively needing to address known compliance issues, or wanting to increase the effectiveness and reduce the costs of a working control environment, PIPC’s model enables us to identify and optimise the critical control points.

This focus ensures:

• a dialogue with the mandating agency to give the organisation has the opportunity to influence the final form of any regulatory change and to ensure early sight of the changes
• all internal departments understand the impact of the change and are motivated to make the change successful, even though these projects often attract negative internal publicity
• a positive approach to mandatory change provides good marketing and public relations opportunities to highlight the advantages of the organisation over slower-to-act competitors
• strong governance together with an appropriate control framework it will ensure changes are effective, timely and cost efficient
• the project is strongly influenced at the design & mobilisation stage by communications with the external agency, ensuring the right focus and prioritisation for a trouble-free delivery phase.

This emphasis, combined with our proven track record of successfully delivering complex change programmes, de-risks the potential impact of non-compliance with the mandated change.

Our approach to mandated change is of use to any organisation. We are of particular value to organisations which are:

• subject to business critical regulatory change; you could lose your ‘licence’ if you fail
• making change which impacts across the organisation with complex interdependencies
• looking to share the accountability for delivery with a trusted and proven partner
• under time and resource pressure to get the change made.

PIPC Proposition

PIPC’s offering is unique; we are project delivery specialists who work with you to take ownership for ultimately delivering value back to your stakeholders.

We have a track record in delivering some of the most complex change projects across the globe. Using our robust process and our team of delivery experts, we work with you to mobilise, design and implement mandated change programmes that visibly demonstrate your industry leadership to the market.

PIPC will:

• work closely with the mandating agency, involve them in delivery and validation
• develop the ‘positives’ of mandated change & mobilise the team around them
• make top level resourcing your number one priority and lead from the top
• ensure your mandatory and regulatory changes are fully implemented and deliver the maximum benefits possible.