In this episode, Rich Reynolds joins Seth Rosensweig to discuss the challenges organizations face as the compliance controls testing and monitoring activities within the lines of defense continue to evolve.
We discuss the following questions:
0:34 - What are some of the challenges around controls testing and monitoring that we’re seeing now?
3:03 - How can we get past the difficulties of testing the tester’s tester to provide assurance?
6:15 - Is there a clear understanding of the differences between monitoring, testing and other associated activities?
10:03 - What should you consider when thinking about the different ways to test and monitor your controls?
12:07 - How important is it to have the infrastructure to properly integrate data and analytics into your controls testing and monitoring program?
16:13 - What do you think the compliance organization of the future will look like as it comes to testing and monitoring?
Seth Rosensweig is the National Digital Risk Compliance and GRC Leader with PwC. Seth focuses on helping clients transform their digital testing and monitoring functions with the use of technology, advanced analytics and digital assets including Artificial Intelligence, Machine Learning, Robotics and Natural Language Processing/Generation. Seth has over 20 years of experience as a trusted advisor with clients on digital strategy and technology transformation.
Rich Reynolds is the National Controls Testing and Monitoring Financial Services Leader. He has over twenty-five years of experience working with financial institutions and is a trusted adviser to senior executives on solving complex risk management and control related issues. Rich specializes in providing internal audit services ranging from strategic performance reviews to directing a broad range of internal audit activities including outsourcing, co-sourcing and policy development and implementation. He also has significant experience advising clients on their programs for compliance with Section 404 of the Sarbanes-Oxley Act and evaluating and improving their Enterprise-wide Risk Management (ERM) infrastructure, including strategy, organization, policy, process and systems.
Controls Testing & Monitoring Leader - Financial Services, PwC US
Partner, Risk and Regulatory, PwC US