Governance Risk and Compliance (GRC)
Tamweelcom is a Jordanian Microfinance company that was facing a major challenge of complying with a number of new regulations issued by the Central Bank of Jordan and managing its Risk Management and Internal Audit activities more efficiently. The main purpose of this assignment was to implement a comprehensive and centralized GRC system across the Risk Management, Compliance, and Internal Audit departments.
Scope of Work
- Aldar International implemented CAREweb ERM , Compliance and Risk-based Internal Audit Modules
- Trained the Risk management, compliance and Internal Audit teams on the methodology and software
- Conducted Risk Assessment workshops for a selected business unit
- Where weakness were identified, recommendations (remedial actions) were agreed to mitigate these weaknesses
- Self-Assessment and Internal Audit compliance test programs were developed for regularly checking whether the identified controls are working as intended.
- Risk management, compliance and Internal Audit teams were also trained on how to roll-over the methodology across the organization.
- Analyzed the new regulations and provided a centralized governance database that links the three entities together.
- Successful implementation of CAREweb modules including: ERM, Compliance and Internal Audit module.
- The Risk Management, Compliance and Internal Audit teams were properly trained on the methodology and software and managed to implement them across the organization’s entities.