The four levels of operational excellence
Level 1: External Assurance
Stakeholders: The board, regulatory, external audit, customer and supply chain audits, cyber-insurers.
Benefits: Automated framework and regulatory mapping and dashboards dedicated to serve information to external stakeholders.
Practical applications: Regulators, external auditors or board audit committee insist on a control improvement, that can be set and tracked as a remediation objective within Panaseer.
Level 2: Executive Oversight
Stakeholders: CISO, risk committee, GRC, internal audit.
Benefits: End-to-end visibility across all business, regional and technology views of ownership and controls, scorecards and heatmaps for aggregated views.
Practical applications: CISO, CRO, or Operational Risk Committee sets objectives across the organization, holding business leaders or service leaders accountable.
Level 3: Business Accountability
Stakeholders: Business owners in product, business unit, region, and outsourced.
Benefits: Controls mapped to their area of responsibility.
Practical applications: Cross-functional teams and business leaders drive change in their own organization to meet these new standards.
Level 4: Control Execution
Stakeholders: Control and tool owners.
Benefits: 360-degree view of their tool with enriched information from other tools.
Practical applications: Control owners then hold those accountable to do the work, leveraging the Level 1 remit, tracking progress in Panaseer. All stakeholders have visibility of progress from high to low level.