Quality Assurance & Improvement Services
Regulatory & Governance Standards
Requirements
Solutions Provided by DNM
Quality Assurance & Quality Improvement Program:
- 1. Quality Assurance and Improvement Program (QAIP)
- 2. Quality Risks & Controls Assessments
- 3. GAP Assessment - Policies, Procedures, Controls & Systems.
- Maintaining an effective quality assurance and improvement program (QAIP) is a significant element of Governance Process.
- QA process verifies if Policies, Procedures, Systems and Controls developed and maintained by an organization meet regulatory standards, conform to the best market practices and stakeholders’ expectations and that it will result in efficient and effective achievement of business objectives.
- We provide professional expertise for the development and implementation of a ‘Quality Assurance and Quality Control Improvement Program’.
- DNM’s quality reviews validate that qualities, standards, best market practices are built into and reflected in Policies, Processes & Procedures and Systems & Controls, Quality GAPs and Quality Risks are identified and addressed working in conjunction with clients.
Scope of Quality Assurance & Improvement Program:
- 1. Quality Control reviews of the following key departments / functions:
- • AML & Compliance Framework.
- • Internal Audit Function.
- • Treasury Management Function (Front & Bank Office)
- • Human Resources Management.
- • Centralized Operations.
- • Risk Management Function.
- Department Wise Quality Assessment to identify:
- Quality Weaknesses.
- GAPs in Policies Implementation.
- Risks & Controls weaknesses imbedded in Products, Services, Systems & Controls.
- We provide full scope coverage of Quality Assurance that includes all key functions of organization.
- While performing QA for each Department (listed in column 2) we conduct Risk Assessments, GAP Assessments, review Policies, Procedures, Systems and Controls to verify if they conform to the Regulatory Standards, Best Practices and evaluate effectiveness of the control practiced.
- Resulting QA process, we develop, further improve, update and align Policies, Procedures, Practices, Controls.
Reporting of Quality Assessment Results & Monitoring of Actions:
- 1. Reporting of ‘Quality Review’ results.
- 2. Tracking of Actions.
- Quality Assurance Report
- Monitoring of performance improvement.
- We make function wise ‘Quality Assessment Reports’ that are comprehensive and contain all assessment factors, bench marks, standards and review results and provide deep insight about the extent of performance quality maintained by each department.
BoD & Senior Management Oversight:
- Quality Assurance Committee
- Terms of References
- Agenda Items
- Reporting Pack & Presentation Deck
- Structure of Minutes & Circulation
- Decisions Tracking Matrix
- Establishment of Quality Control Committee to foster Senior Management & Board’s Oversight.
- We design Risk Management Committee’s Structure, develop Terms of References (TORs), reporting packs and related documents.
- We train and develop staff on documentation, circulation and tracking timely & adequate implementation of Risk Management Committee’s decisions.