Number of Alerts Tracked – The average number of compliance-related alerts that are detected and revealed to the compliance team during a month. Step-by-Step Guide: 8 Steps to an Effective Compliance Programme. Compliance Training Hours per FTE – The average number of training hours related to compliance each full-time equivalent employee goes through. Percentage of Compliance-Related Lawsuits ‘Won’ – The percentage of lawsuits served against the firm during the preceding year that did not bring unfavorable result (e.g. KPI definition, data wrangling and standardization to maximize your tech investments. Companies are inundated with OSHA, EPA and other state and federal regulatory requirements that are designed to ensure worker safety and prevent environmental pollution, but which often feel overly complex or burdensome. Total Legal Spending as a Percentage of Revenue – The percentage of legal spending (whether internal or external) versus the total profit for the preceding year. Regulatory Compliance Expense per Regulatory Compliance Employee – The total expenditure in offering HR administrative compliance during the preceding year divided by the total number of HR administrative compliance staff at the end of the year mentioned. Percentage of emergency changes – The percentage of emergency changes KPI measures the percentage of the total number of emergency changes that have been completed and closed in a given period. Managing employee compliance with policies and … Regulatory Report Creation Cycle Time – The average amount of time (in days) required to accumulate information, generate, and file an administrative report (categorize  by report type; financial, technological, environmental). It is a qualitative measurement and is tracked either by a Request for Comments (RFC) or a review. Equally importantly, management can identify negative trends in the department and take action to ensure the optimal functioning of the organization. How to easily track your environmental compliance metrics. The average number of business days elapsed between formal reviews, or audits, of company operations and policies performed by the Legal and Compliance Departments. This product is currently not available through the website. Compliance metrics and Key Performance Indicators (KPIs) measure the compliance department’s ability to keep its organization in line with policies - both internal and external, as well as government regulations. This KPI measures how successful the change management implementation has been. Compliance Training Expense per FTE – The total amount used on compliance training for staff divided by the total number of firm-wide full-time equivalent employees. Overtime Percentage. Technical jargon disguises the simple premise that information security KPIs are substantially similar to other types of metrics. COMPLIANCE METRICS HANDBOOK WHY COMPLIANCE INSIGHTS MATTER HOW TO BUILD A METRICS-FILLED BOARD REPORT HOW DO YOU MEASURE EFFECTIVENESS? Number of Compliance-Related Lawsuits – The average yearly number of lawsuits filed against the firm for compliance-related matters. The policy enforcement team drafts procedures and rules to handle cases of non-compliance. Non-Compliant Change Request Percentage – The percentage of change requests that do not abide by the change management process per total number of change requests. Expert HR advice is available to all customers free of charge. Changes performed during business hours – The changes performed during business hours KPI measures the success of the changes that have to be implemented during working hours. Recurring Identified Improvement Opportunities – The number of growth opportunities that are duplicated across 2 or more assessments out of total growth opportunities identified. On-Time Financial Report Percentage – The percentage of financial reports filed on schedule versus the total number of financial reports filed. Number of Employee Relations Issues Opened, Percentage of Outstanding Post-Audit Issues, Compliance Investigation Cycle Time (by Type), Percentage of Internal Audits Completed On-Time. It’s official: OpsDog business intelligence transformations work! +1 (970) 579-0900 Breach of Customer Privacy Complaints – The total yearly number of confirmed complaints related to client privacy violations and client data loss. February 4, 2018. in Compliance. Change management objectives (KPIs) are designed to measure the changes implemented by a company’s successes and failures. Process modeling and diagnostic tools to identify improvements and automate processes. Calculating overtime as a percentage tells how efficient your scheduling is. Overview Effective compliance metrics provide a clear picture of an organization’s compliance program and its associated risks and controls. Effectiveness of training and communication – The effectiveness of training and communication KPI measures how effective the training and communication was conducted as part of the change implementation process. Process Security Metrics Measure processes and procedures Imply high utility of security policies and processes Relationship between metrics and level of security not clearly defined Compliance/Governance driven Generally support better security Actual impact hard to define Deciding which metrics to use may be based either on the need to address potential gaps in the compliance program, for example, or the need to assess an area that has not been assessed in a while, Snell of the HCCA says. A guided rollout is included with all our plans. The number of audit phases completed at a certain point in time divided by the total number of audit phases that require completion, as a percentage. Financial Statement Accuracy – The percentage of financial statements submitted that do not need revision versus the total number of statements submitted. Cultural Integrity Composite Score - Tone at the top - Trust in manager - Trust in co-workers - Comfort raising … Define goals to set expectations and track individual and business growth in real-time, We deliver job clarity to your employees leading to improved productivity and better employee engagement. a compliance issue, for example, then it is clearly essential that those are remedied. Internal Audits Frequency – The average amount of time (in days) transpired between internal audits. Additionally, metrics can be used to justify additional staff and measure the overall effectiveness of the compliance … IT governance also ensures that direction is set through prioritization and decision making and that performance and compliance are monitored against agreed-on direction and objectives. Percentage of incidents caused by changes – The percentage of incidents caused by changes KPI measures the percentage of the number of incidents caused by the implementation of a change in a given period. The average number of business days elapsed between formal internal audits (segment by audit type: financial, technology, environmental, etc.) Effective compliance metrics support compliance efforts by providing a window into an organization’s compliance risks and controls. Common compliance functions include internal audit, compliance training, policy enforcement, and risk management. The number of business days required to bring issues identified during an IT audit into compliance, from the time the issue was discovered until the issue is corrected. For example, Section B.12 offers suggestions regarding Information Security Training metrics as discussed above. A high participation rate translates into the successful implementation of the change request. Major Internal Compliance Breaches – Total number of large-scale internal compliance violation during the preceding year. They also design proper solutions and procedures to prevent and address those risks. The total expense incurred by the Internal Audit & Compliance Group over a certain period of time. Regulatory Compliance Expense per FTE – The total expenditure on providing administrative compliance during the preceding year divided by the total number of firm-wide full-time equivalent employees at the end of the year indicated. Management plans, builds, runs and monitors activities in alignment with the direction that is set by the governance body to achieve the enterprise objectives.4 The IT gover… Editor’s note: This article was contributed … An easier, effective method of 360-degree feedback collection from peers, upward, downward and customers too. Security Incident Downtime – The total number of minutes of system unavailability due to a security issue or event during the year. Insurance Regulatory Reporting Cycle Time – The average number of calendar days needed to accomplish an insurance administrative report. Number of Annual Internal Complaints – The average yearly number of complaints issued internally. Any compliance management system in an organization – whether it is manual or being run through a compliance management software solution – can be assessed by the following metrics: 1. Ratio of Firm-Wide Employees to Compliance Employees – The total number of firm-wide staff divided by the number of compliance full-time equivalent staff. Nearly one-third of the nearly 200 companies surveyed do not measure the effectiveness of their compliance programs. As EHS pros, we’re all striving for safety excellence, and assigning corrective … Unidentified devices on the internal network: Your employees bring their devices to work, and your … This document defines over 50 Compliance KPIs, including metric definitions for Internal Audit, Policy Enforcement, Risk Management and more. Metrics help to demonstrate e ffectiveness in process (i.e. Contact us for more information. Real-time KPI management and tracking ensure that the Compliance Executive can ensure that employees meet the stated Key Performance Indicators as set out by the organization. Number of Annual External Complaints – The average yearly number of complaints issued against the firm with external organizations. Number of Annual Securities Compliance Issues – The total number of compliance issues related to security that are reported by the compliance office during a particular year. The total number of company-wide employees divided by the number of Audit and Compliance employees working for the company at the same point in time. The total number of formal internal financial audits completed over a certain period of time. Total Compliance Employee Headcount – The total number of full-time equivalent compliance staff. Compliance KPIs can be implemented as an early warning system to detect potential compliance issues, and help the business move quickly to implement controls or other measures to prevent regulatory action, bad publicity and/or employee dissatisfaction. The adherence to project plan KPI measures the extent to which the change implementation adhered to the accompanying project plan. HR Compliance Headcount Ratio – The total number of firm-wide staff divided by the number of HR compliance full-time equivalent staff. On-Time Regulatory Compliance – The percentage of new regulations that were complied to on schedule versus the total number of new regulation during the preceding year. Here are examples of the metrics that can be used: Up-to-date IT infrastructure model, % This metric quantifies the results of the regular infrastructure analysis. They focus on time, money, and value. Total Regulatory Compliance Expense as a Percentage of Total Revenue – The percentage of expenditure budgeted for HR administrative compliance versus the total profit for the preceding year. Large change management requests often get broken down into different phases to expedite and improve the management process. Percentage of rejected changes – The percentage of rejected changes KPI measures the percentage of the total number of closed changes denied within a given period. This is because of the unavailability of various teams, constrained resources, or infrastructure critical to operational functioning during business hours. Rather, compliance professionals should carefully discern which key metrics most directly apply to their own organization. It is well known that ITIL ® describes four types of process metrics: process efficiency, process effectiveness, process progress and process compliance [see, in particular, the discussion in Service Design, §3.7.5]. Business intelligence dashboards and analysis to improve management capabilities. It results in various requirements such as the maximum reaction time in case of … We serve most industry types effectively. Understand key points of an organizational risk profile and risk intelligence and how they interact with … Percentage of unauthorized changes – The percentage of unauthorized changes KPI measures the rate of the number of changes that were not authorized within a specific time frame. The IT governance mechanism ensures that stakeholder needs, conditions and options are evaluated to determine balanced, agreed-on enterprise objectives. Percentage of Neglected Compliance Issues – The percentage of overlooked compliance issues versus the total number of compliance issues. The total number of account openings or transactions investigated due to suspicious activity over a given period of time. Average Investigation Cycle Time – The average number of business days needed to conduct an investigation against the firm. Regulatory Reporting Expense as a Percentage of Total Expenses – The compliance administrative reporting expenditure as a percentage of total operating cost. Let OpsDog customize business intelligence dashboards for you! Although that number is an improvement from the previous two surveys, other evidence suggests compliance professionals aren’t wholly comfortable with the metrics … Improper Configuration of Assets – the total number of business compliance concerns as a result of wrong distribution of assets during the preceding year. Translating KPIs from technical to business language enables better compliance decisions. Discover how working with us will help you realize your full potential while helping others achieve theirs, Learn why customers from across the world find AssessTEAM simple to deploy and use. … Many of the metrics seek to measure the "culture of compliance," a phrase used frequently by New York's Office of the Medicaid Inspector General, in order to gauge the understanding of, and adherence with, compliance obligations among staff. One of our compliance metrics examples represent the whole of basic agreements a company and a supplier lay down. Monitoring and communicating compliance programs’ effectiveness is crucial, but the metrics some companies use may be too basic and possibly inadequate, according to a new report from Deloitte and Compliance Week. The total expense incurred by the Audit and Compliance function divided by the number of employees working for the company over the same period of time. support@assessteam.com Compliance Backlog Percentage – Percentage of active compliance issues older than 28 days versus the total number of active issues. Metrics related to the Compliance Department’s audit and monitoring activities Metrics related to the activities performed by the centralized compliance function on behalf of the enterprise Audit & Monitoring Core Operations Compliance metrics can be categorized by compliance focus areas and should be evaluated using 3 key factors. External Complaints per FTE – The total number of external complaints submitted during the preceding year divided by the number of firm-wide full-time equivalent staff. Take your business intelligence to new heights with custom KPI dashboards. Proven leading practices that you can implement for your business. The non-compliance-related expenses (fines, etc.) Adherence to the project plan – Change management programs and project plans go hand-in-hand. : structural/design changes) and outcomes (i.e. Customizable busines process workflow templates. The total number of internal finance audit reports published over a certain period of time. Using Metrics to Measure Compliance Effectiveness. Percentage of Downtime Due to Security Incidents (by system) – The percentage of outage duration (categorized by IT system) that was due to a security violation or event. behavioral changes). Not all the examples will fit your program. Mean time to issue discovery 2. Comprehensive Compliance KPI benchmarking reports bundles that include 10 to 80+ measured KPIs. Related: Internal Audit Manager, Director/Manager of Internal Audit, Internal Auditor. Certain compliance metrics may also be referred to as Key Risk Indicators, or KRIs. Price range is from $750-$2000 per report, Individual Compliance KPI benchmarks that contain 1 benchmarked KPI –, Price range is $50-$65 per individual benchmarked KPI, Custom Compliance benchmarking KPI Data-as-a-Service projects and consulting engagements. The occupancy-related expense (rent, property tax, etc.) Ready to serve!OpsDog customized KPIs and business intelligence deliver! Reported Compliance Violations per Employee – The number of documented compliance violations per company-wide staff member. The average total compensation (salary, bonuses, commissions) for compliance officers over a certain period of time. 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