The Principles of Policy Management: Integrated

Is your organization's policy management framework integrated into business operations? In OCEG’s Policy Management Capability Model, it outlines 10 universal principles of policy management - the third being integrated.

“While centralized oversight and design of policy management are important, without acceptance of the defined approach and assignment of policy responsibilities within the affected operations, the system will be ineffective,” the Model states.

An integrated policy management framework creates:

• An ability to respond proactively to emerging risks by breaking down silos
• A single governing structure that is provided to employees, management, auditors, and regulatory bodies with the agility needed to manage emerging risks
• Continuous collaboration across functions and operations
• Consistency in GRC and better insights into the internal operating environment
• More effective compliance programs to address constant changes in regulations, technology, and the business

Effective policy management is a key part of organizational success, and if done right it should support quick and informed decision-making which, in turn, can save an organization from financial and reputational loss, compliance violations, and more. Stakeholders need to always be aware of issues that could arise, such as ineffective controls and policy conflicts. The path to achieving this objective lies within policy integration.