OMG_case study

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Case Study

Old Mutual Group Financial reporting compliance See how our financial reporting controls solution has significantly reduced Old Mutual Group’s exposure to operational risk.

The Challenge Old Mutual Group Plc is a FTSE 100 listed savings, protection and investment group based in London and operating in 34 countries. In May 2007, they launched a group-wide finance programme, ‘Finance 2010,’ in response to their rapid growth and the increasing demands of external reporting.

What did OMG have to say? “The Finance Control Tool (FCT) has enabled us to deliver a

One of the principal goals of the programme is the Financial Control Initiative (FCI). The

strengthened culture of risk and

aim of FCI is to enable better financial information management and ensure against financial reporting errors, thereby mitigating regulatory compliance risks. To achieve

control consciousness across

this, the Group needed to implement highly secure, risk-focused systems and processes.

Old Mutual and the impact

The framework for the FCI consists of an ongoing cycle of assessing the risks inherent in

and benefits of such a cultural

financial reporting, gathering evidence that appropriate controls are in place, confirming

mindset will facilitate the pursuit

that they work and demonstrating that any breakdowns in controls are being addressed.

of best practice and efficiency,

Management needed access to real, reliable financial detail and wanted the tools to

ultimately

help them do this.

do not materially misstate our

Following recommendations from Deloitte and Touche, Old Mutual entrusted Content and

financial reporting numbers. FCT

Code to join forces and help deliver the right risk management solution together.

is now a repository for our risk and

The Solution

controls

enables

Content and Code custom-built a web-based Financial Control Tool (FCT) for Old Mutual

ensuring

an

that

documentation, assessment

• Dashboards to enable any individual in the organisation to access information pertinent to their role

enables us to report accurately and efficiently on the quality of our controls.”

• Group-wide risk calculating to assess the risk for any part of the group at any time • Integration with Qlikview to facilitate more sophisticated reporting • Self-generated task lists for individual employees to ensure better management and control of tasks

Sean Retief Finance Systems Development and Support Manager Old Mutual Group

• Multiple security levels to provide maximum security of information and data while restricting users to role-dependent subsets of information • Connectible web parts to allow for filtering of information

Voted best in the world twice and top UK partner!

United Kingdom

Winner

Content and Code Ltd

|

2010 WORLDWIDE PARTNER OF THE YEAR

2009 WORLDWIDE PARTNER OF THE YEAR

Winner

Winner

Information Worker Solutions Enterprise Content Management

Trans-World House, 100 City Road, London, EC1Y 2BP

|

of

our control environment, and

that featured:

2010 COUNTRY PARTNER OF THE YEAR

we

Information Worker Solutions Portals and Collaboration

T: +44 207 101 0930

|

www.contentandcode.com


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