process consulting...pkc advisory 6 risk and controls self assessment (rcsa) risk and control...

Process Consulting

▪ Service Offerings

▪ Credentials

Confidential

2PKC Advisory

Service Offerings

▪ Development and review of Policies and

Procedures

– Policy Manuals

– Standard Operating Procedures (SOPs)

Manuals

– Operating Manuals and Work

Instructions

– Process Maps

▪ Document Control and Governance

Framework

Business Process Design and

Development

▪ Development and Review of Corporate

Governance (CG) Policy and Framework

– Board and Committee Charters

– Code of Conduct and Ethics

▪ Gap Analysis of existing CG Framework with

Regulatory requirements

▪ Subsidiary Governance Framework

Development and Review

▪ Family Business Governance Framework

Development and Review

Corporate Governance

Solutions

▪ Enterprise Risk Management (ERM)

– Implementation of COSO Framework

– ERM Maturity Assessment

– Risk Monitoring and Reporting

▪ Risk and Control Library Development and

Optimization

▪ Review and Development of Key Risk

Indicators (KRIs)

▪ Risk and Controls Self Assessment (RCSA)

▪ Testing of Design and Effectiveness of

Controls

▪ Development/ Review of Risk Management

Policies and Procedures

Risk and Control Assurance

▪ Fixed Asset Management

– Development and review of Fixed Asset

Register (FAR)

– Physical Verification and Tagging

▪ Inventory Verification

▪ Project Management Office (PMO) Services

▪ Charge-back Model for Allocation of Costs to

Subsidiaries/ Business units

Other Value Added Services

▪ Risk based Internal Audit and Process

Reviews

▪ Business Process Re-engineering (BPR)

▪ Revenue Assurance

▪ First Time Reviews (FTRs)

▪ Pre-audit of Project payments

Performance Evaluation and

Enhancement

▪ Reporting Framework Development and

Review for Regulatory/ non-Regulatory

requirements

▪ Regulatory Compliance Review

– Gap Analysis, Identification and

Reporting of non-compliances against


▪ Contract Compliance Review

Compliance Assurance

3PKC Advisory

The growing need for streamlining and standardizing functions and processes has led organizations to

develop Policies and Procedures documents to achieve the primary objectives relating to Quality, Cost and

Delivery along with compliance to increasingly complex regulatory requirements.

PKC Advisory helps its clients in developing Policy documents and Standard Operating Procedures (SOPs)

Manuals for various functions and processes. PKC Advisory also assists in undertaking benchmarking/ gap

analysis of existing policies and procedures vis-à-vis industry best practices and regulatory

requirements.

Development and Review of Policies and Procedures

Key Steps Key Solutions

Understanding ‘As-Is’ policy/ process and reviewing

‘As-Is’ documentation

Mapping ‘As-Is’ processes/ sub-processes with

leading practices and regulatory requirements

Developing ‘To-Be’ guidelines for processes/ sub-

processes with key considerations

Policies and

Procedures ManualsOperating Manuals and

Work Instructions

Benchmarking with

Industry best practicesProcess Maps

4PKC Advisory

PKC Advisory’s risk-based approach in carrying out the Internal Audit and Process Reviews aims at providing

an overall assurance to the management that the processes are functioning within the ambit of the entity’s

governance, risk and compliance management framework.

Internal Audit and Process Reviews

Initial Risk Assessment and Audit Planning Internal Audit Execution

Audit Committee Presentations

PKC Advisory follows a 360° approach ensuring Continuous Auditing/ Continuous Monitoring for the entity

Follow-up Reviews

➢ Map organizational risk profile to identify key processes

➢ Evaluate each auditable area per the criticality and potential impact on

the business

➢ Finalize the annual audit plan, basis risk profiling

➢ Obtain appropriate approvals on the audit plan

➢ Identify critical observations from reviews conducted during the quarter

➢ Consolidate the critical observations and prepare the Board Audit

Committee pack

➢ Present to the Committee along with implementation status of open

observations

➢ Discuss the agenda and receive inputs of the Committee for the next

quarter

➢ Conduct follow-up reviews on a quarterly basis to check action plan

implementation

➢ Prepare a Follow-up Tracker for open observations and capture the

implementation status

➢ Document the reasons for non-implementation and highlight exceptions

to agreed plans

➢ Consolidate findings and present the follow-up review report to the

management

➢ Understand “As-Is” processes and identify gross risks

➢ Analyze “what can go wrong” by identifying the risks with no controls/

inadequate controls

➢ Develop work program and test operating effectiveness through data

analytics and transaction verification

➢ Identify and analyze the root cause for design and operating

deficiencies

➢ Recommend process improvements and obtain corresponding action

plans

➢ Prepare the audit report and present it to the management

5PKC Advisory

Enterprise Risk Management (ERM)

Key Features COSO

ERM

Framework

Governance

and Culture

Information,

Communication,

and Reporting

Review

and Revision

Performance

Strategy and

Objective-Setting

PKC Advisory assists its clients in their endeavour for Enterprise-wide Risk Management by implementing the

COSO Framework for effectively managing the enterprise-wide risks. It also provides them with a mechanism

to facilitate appropriate and timely monitoring and reporting of risks across various levels of management

hierarchy.

Enterprise-wide increased awareness of risk

Key Benefits

Co-identify and articulate risk appetite of the

entity, using the parameters of impact and

likelihood

Identify the key risks that threaten the

achievement of the Company’s strategy

Assess impact of each risk against the risk

appetite to arrive at a rating

Facilitate a risk workshop to prioritize risks,

agree on action plans and resource allocation

for risk mitigation

Where relevant, derive the internal audit plan

based on the prioritized risks

Cross-enterprise risk identified

Increased coordination across business units for more effective risk

mitigation

Common risk language established through standardized Risk and

Control Registers

6PKC Advisory

Risk and Controls Self Assessment (RCSA)

Risk and Control Self-Assessment is a proactive tool for risk management across the entity which involves

the participation of both management and staff to identify and assess the risk and control strengths &

weaknesses against a Control Framework. PKC Advisory helps the client in creating this tool wherein the

business line managers assume greater responsibility & accountability for their risks & controls, their

monitoring and communication in a more effective manner to the senior management.

e-

Wall

et

RCSA

Objectives

1

2

3

4

5

6

Build an overarching framework that provides a holistic

view of the risk profile

Identify problems and risk events before they occur

Incorporate information from multiple sources (Self

Assessments, Internal Audit, Regulatory findings etc.)

Prioritize identified issues in a consistent and transparent

manner

Design controls to better manage risk

Consolidate assessment of the key issues and provide a

view for senior management

Improve organizational effectiveness based on learning

consolidations7

Key Steps

Determine Risk Tolerance and Likelihood

RCSA Scoping

Risk Identification

Inherent Risk Assessment

Residual Risk Assessment

Confirm Mitigating Action Plans

Finalize KRIs/ KCIs for Monitoring

Identification of key

operational risks and

assessment of

effectiveness of related

controls

Dissemination of

consistent and timely

operational risk and

controls information to

management

Optimization of

organizational efforts

and costs in the

management of controls

Key Benefits

Empowering businesses

to review and manage

risks and controls

through key indicators

Continuous and

effective monitoring,

and improvements to

the company’s control

environment

7PKC Advisory

Corporate Governance Solutions

Corporate Governance (CG) can be broadly defined as the systems and processes put in place to direct and

control an organization in order to increase performance and achieve sustainable shareholder value.

Our spectrum of services assists companies and family business offices in development and implementation of

best in class Corporate Governance frameworks and also in conducting post-implementation gap

analysis and review with regard to policy and regulatory requirements.

Our Services

Review &

Gap Analysis

▪ Review of existing practices against Regulatory

requirements/ leading CG models

▪ Diagnostic review of governance landscape among

group companies

Design &

Development

▪ Governance framework development & review for

corporates and family offices

▪ Documentation of CG Model in-line with the

Regulatory guidelines

Implementation

& Support

▪ Implementation and monitoring of CG enhancements

▪ Compliance review against the established

governance framework

Understanding business

requirements

Mapping current

governance practices with

leading CG models

Benchmarking with


Documenting and

finalizing CG framework

Our Approach

Better access

to External

Finance

Improved

Sustainability

Reduced Risk

of Fraud

Lower Cost of

Capital

Higher

Stakeholder

and Investor

Confidence

Higher

Valuation and

Share

Performance

Key Benefits

8PKC Advisory

Compliance Framework Development and Review

Key Features

PKC Advisory offers its services in design and development of an effective compliance framework across the

organization which include defining an organogram for the compliance function as well as outlining the

compliance reporting structure across the entity.

Our Compliance Management Methodology focuses on a framework consisting of five key components

including - Governance & Culture, Compliance Policies, Process & Procedures, Monitoring, Testing &

Reporting, People and Business Impact.

▪ To build the Compliance Management

Program, from both content and process

perspective

▪ To prioritize issues associated with closing

compliance program and process gapsObjective

▪ Leverage existing compliance program

framework, if any, and assess gaps

▪ Determine desired future state/ prioritization

(both content and process perspective)

▪ Prepare final compliance risk management

program implementation plan

Approach

▪ Organization structure for the Compliance

function with defined roles and responsibilities

▪ Gap analysis, identification and reporting of

non-compliances

▪ Strategic options/ implementable approaches

▪ Compliance MIS reporting structure

Deliverables

9PKC Advisory

Fixed Asset Management

focus

Acquisition

Capitalization

Valuation

Transfer &

Disposal

Recording

Depreciation

360⁰

Key Benefits

Comply

with accounting standards/ practices

Validate

existence of Fixed Assets

Ensure

adequate security and identification

of Fixed Assets

Key Benefits

PKC Advisory’s Fixed Asset Management (FAM) services aim to assist entities in exercising greater control

over their Fixed Assets across their life cycle, thereby ensuring achievement of optimum value proposition

for their Fixed Assets.

▪ Comprehensive review of existing FAR

▪ Obtain asset details from the books

▪ Reconcile physical availability with asset list

▪ Arrive at assets’ present value

▪ Design a standard FAR template and populate

asset details

Development and

Review of Fixed

Assets Register

(FAR)

▪ Verify physically available assets

▪ Document asset locations and details

▪ Reconcile with Fixed Assets List

▪ Prepare PV Report highlighting discrepancies

Physical Verification

(PV) of Fixed Assets

▪ Generate Tag Number/ Asset Code

▪ Update Asset Code details in FAR

▪ Place appropriate tags with bar codes

▪ Provide training on tagging & recording

Tagging of Fixed

Assets

Key StepsOur Services

Credentials

11PKC Advisory

Illustrative Assignments

▪ Development of comprehensive policies of business

and compliance functions for a leading energy focused

UAE based conglomerate

▪ Design and development of entity-wide Risk Policy

Manual and SOP manual documents for the core

business functions of a leading district cooling service

provider based out of Dubai

▪ Assistance to Group Operational Risk Management

department of UAE’s largest commercial bank in

carrying out Risk and Control Self-Assessment (RCSA)

for the merging entities

▪ Preparation of the corporate governance manual and

other related documentation for a large bank operating in

the MENA region

▪ Enterprise Risk Management (ERM) review for all the

functions of one of the largest 5 start hotels in UAE

▪ Financial Due-diligence of a restaurant in UAE for a

potential transaction on behalf of KSA based investor

▪ Development of Contracts and Procurement SOP

manual for an Oil & Gas company based out of UAE

▪ Review and updation of policies and procedures related to

banking operations functions for a leading commercial

bank of the GCC region

▪ Standard operating procedures manuals for the largest

distributor of ambient foods based out of KSA

▪ Preparation of standard operating procedure manual for

a leading chain of K-12 schools based out of UAE

▪ Design & development of org structure, JDs, KPIs, key

departmental interfaces, and delegation of authority

framework for a leading real estate development company

in the MENA region

▪ Development of risk management policy & procedures

and standard operating guidelines for a new investment

venture of a leading asset management company of the

Kingdom of Saudi Arabia

▪ Designed and developed Standard Operating

Procedures (SOP) in the form of “Project Blue Book”

for setting up new merchant builder shops for a leading

building materials trading company based in Saudi Arabia

▪ Preparation of comprehensive SOP manuals of the

operating, sales and support functions for a leading

insurance and reinsurance company based out of Kuwait

▪ Organization structure, JDs, and SOP for credit financing

arrangement service line of a leading investment advisory

firm based out of Saudi Arabia

▪ Design and development of vendor evaluation framework

for a leading commercial bank of the MENA region

▪ Assistance in organization transformation and development

of SOPs and DoAs for a retail sector giant in GCC

12PKC Advisory

Illustrative Assignments (Contd…)

▪ Development of firm-wide Policies and Procedures

Manuals for a leading wholesaler and retailer of coffee,

nuts, spices, grains and dry fruits in KSA

▪ Review and update of Corporate Governance

documents viz. CG manual, Board and Board

committees charters, risk policy, whistleblowing

policy, disclosure policy, etc. for a dairy food products

company based in Kingdom of Saudi Arabia

▪ Development of Finance & Accounts SOP Manual for a

reputed manufacturer and distributor of food and

agricultural products in Saudi Arabia

▪ Design and development of firm-wide policies and

procedures manuals for a real estate, steel rolling and

manpower recruitment companies on behalf of a leading

investment company based in KSA

▪ Financial Due-diligence of a logistics company in India to

evaluate investment sustainability on behalf of UAE based

investor

▪ Gap Analysis and Review of HR policies for a leading

commercial bank vis-a-vis its five subsidiaries based in

MENA region

▪ Policy and procedure manual for financial control division

of one of the largest holding companies of the GCC region

▪ Development of Procurement and Material Management

policy and procedure manual for a real estate company

of the GCC region

▪ Development of Human Resources policies and

procedures for a leading building materials trading

company based in Saudi Arabia

▪ Review of the Branch Operations processes and

alignment of the same with the new core banking system

for a commercial bank based out of UAE

▪ Finance & Accounts policy and procedure manual for a

leading investment company based in the Kingdom of

Saudi Arabia

▪ Review of the business continuity plan related

documents of a bank in Kuwait

▪ Preparation of policy & procedure manual for a leading

investment company of the GCC region for their

Representatives on the Board of core operating companies

▪ Review and update of Finance & Accounts Policy and

Procedure Manual for a leading real estate company of

the MENA region

▪ Review of Credit, Operational, Market, ICAAP, Stress

Testing and Risk Appetite policies and alignment of the

same with the BASEL and Central Bank requirements

for a Bank in Kuwait

13PKC Advisory

Case Studies

Comprehensive policies for a leading energy focused

conglomerate

Risk Policy Manuals and Standard Operating Procedures

for a leading district cooling service provider

Our Client

Leading international conglomerate focused on manufacturing

and management services in the energy sector and based out of

the United Arab Emirates.

The Business Situation

The objective of the assignment was to undertake development of

detailed policy documents in the domains of Finance & Accounts,

Supply Chain, Sales, Marketing Agent & Service Provider

Management, Human Resources & Payroll, IT, Legal &

Compliance, QHSE, Anti-corruption, Anti-bribery, Anti-Money

Laundering, Trade Control, and Gifts, Hospitality & Entertainment

to form part of the governing principles at the group level.

Our Role

As part of the approach, detailed research on regulatory

requirements and industry leading practices was conducted by

PKC Advisory, followed by detailed discussions with the Client.

Subsequently, after ensuring that foreseen risks were addressed

through defined controls, and the redundancies, if any, were

eliminated, PKC Advisory developed comprehensive policy

documents for the functional areas in scope.

The Value We Added

Through this exercise, the Client obtained a detailed set of

documented policy guidelines which were scalable and easy to

implement across its domestic and international subsidiary

companies.

Our Client

Leading district cooling service provider based out of Dubai.



an entity-wide Risk Policy Manual and SOP manual documents

for the core business functions, viz. Operations & Maintenance,

Projects, Infra Data Control, Network, Revenue Assurance, Home

Services, Customer Service, Finance & Accounts, Human

Resources, Administration and Information Technology.

Our Role

PKC Advisory undertook detailed discussions with the Client to

obtain ‘As-Is’ process understanding, had internal brainstorming

sessions, conducted research on industry best practices, and

subsequently identified gaps in the existing processes vis-à-vis

the best practices.

Based on the consolidated learnings, PKC Advisory developed

comprehensive Risk Policy and SOP manuals for the business

functions with well defined key processes/ sub-processes/

activities, segregated roles & responsibilities, quantified frequency

& timelines, and clearly specified documentation requirements. It

also streamlined and standardized inter-departmental interfaces.

The Value We Added

The exercise allowed the Client to have comprehensive Risk

Policy and SOP documents for its business functions which

helped in standardizing and streamlining of its operations.

14PKC Advisory

Case Studies (Contd…)

Corporate Governance manual and other related

documentation for a bank

Our Client

Commercial bank based in Kuwait.


The objective of the assignment was to undertake a

comprehensive review of existing Corporate Governance

Framework document with the perspective of aligning it with the

Central Bank’s recently issued guidelines and developing the

required documents.

Our Role

To start with, a detailed review of all existing documents on

corporate governance of the client was undertaken by PKC

Advisory and a gap analysis report was prepared after comparing

them with the requirements of the Central Bank in this regard.

Based on the gaps identified and the inputs received from various

stakeholders within the organization,

PKC Advisory assisted in development of required documents

and refinement of existing documents to comply with the Central

Bank’s requirements on corporate governance.

The Value We Added

The exercise allowed the Bank to have a Corporate Governance

Framework in compliance with the Central Bank’s requirements.

Assistance in carrying out Risk and Control Self-

Assessments for a bank

Our Client

Largest commercial bank of UAE.


As part of the integration roadmap for two leading UAE banks,

resulting in the creation of the GCC’s second largest bank, the

combined entity’s Group Operational Risk Management (GORM)

was carrying out a Risk and Control Self-Assessment (RCSA)

exercise to ensure all risks are identified and evaluated post the

merger.

Our Role

PKC Advisory assisted GORM in identification of key operational

& compliance risks and related controls for the entity’s integrated

Operations Group and Corporate Services Group, covering key

units such as Treasury Operations, Trade Finance, Private

Banking Operations, Cards Processing and Loan Processing.

PKC Advisory also assisted the Client in assessment of identified

controls via control testing, to arrive at the residual risks. For the

key risks and control gaps identified, the remedial action plans

and alternate controls were agreed upon and implemented, in

consultation with management.

The Value We Added

The exercise enabled the Client to identify issues and control

weaknesses for it’s merged operations and develop a detailed

risk-response strategy for effective mitigation of key risks for its

integrated processes.

15PKC Advisory


Enterprise Risk Management (ERM) review for a leading 5

star hotel

Financial Due Diligence and Valuation of restaurant

company for a proposed acquisition

Our Client

One of the largest five star hotels in UAE.


The objective of the assignment was to carry out ERM exercise

for the hotel to identify and mitigate entity wide risks pertaining to

different processes like Front Office operations, Housekeeping,

Sales & Marketing, Human Resources, etc.

Our Role

PKC Advisory undertook detailed discussions with the Client on

its day to day activities, reviewed the policies and procedures of

the hotel and the audit reports of the previous years to obtain a

holistic understanding of the hotel operations Based on the

consolidated learnings, PKC Advisory designed and developed a

Risk Universe capturing the various risks pertaining to the hotel

processes which could hamper the business operations and

affect profitability adversely in the long run. Risk Assessment

Workshops were held wherein the identified risks were assessed

in terms of their magnitude and likelihood and were prioritised

basis their rankings in discussion with the process and control

owners. Subsequently, PKC Advisory prepared a comprehensive

Risk Management Matrix, containing details of various perceived

risks in order of their ranking.

The Value We Added

The exercise allowed the Client to identify top twenty risks out of

a pool of more than hundred risks with high probability and high

impact, which could then be used to design suitable response

strategies for their mitigation.

Our Client

Large technical services company based in KSA.


The Client was contemplating acquisition of a company operating

a casual dining restaurant in Dubai, UAE. In this regard, the Client

approached PKC Advisory to undertake financial due diligence,

physical asset verification and valuation of the target company.

Our Role

PKC Advisory undertook a review of audited financials,

management accounts, budgets and other available information

to evaluate the robustness of target business. A site visit was

undertaken for management discussion and physical asset

verification. Review of financial accounting practices and

supporting documents was also undertaken. This was followed by

financial benchmarking of the target vis-à-vis its peers. PKC

Advisory noted all its findings in a Due Diligence Note submitted

to the Client. The next phase of the assignment involved

assessing the fair value of the target. PKC Advisory projected the

target financials for next five years, arrived at an indicative value

using intrinsic as well as relative valuation approaches and

submitted a Valuation Note to the Client.

The Value We Added

PKC Advisory assisted the Client in planning its move for the

proposed acquisition by providing comprehensive corporate

finance advisory service including financial due diligence, physical

asset verification and fair value assessment of the target

business.

16PKC Advisory


Banking operations policies and procedures for a

commercial bank

Our Client

Leading commercial bank based in Kuwait.


The objective of the assignment was to undertake a

comprehensive review of existing policy and procedure

documents related to entire banking operations and subsequently

update of the same.

Our Role

PKC Advisory undertook a systematic review of existing

processes to identify the design and control gaps between the

documented policies and procedures vis-à-vis the best practices.

Subsequent to the gap assessment, detailed discussions with the

process owners, control owners and the senior management

were performed and adequate controls for the identified risks

were suggested.

On the basis of review and discussions, the policies and

procedures were updated with clearly stated roles and

responsibilities, departmental interfaces, timelines, and control

documents (Input/ Output) arising out of the activities.

The Value We Added

The exercise enabled the Bank to update the policy and

procedure documents by eliminating process redundancies,

incorporating new processes and consolidating policies and

procedures at department and unit level.

Our Client

Largest Oil and Gas company of Ras-Al-Khaimah.


The Client was looking for streamlining its procurement operations

and in this context, the objective of the assignment was to undertake

the development of a comprehensive Standard Operating Procedure

(SOP) manual for its Contracts & Procurement function.

Our Role

We undertook detailed discussions with the Client to understand the

current procurement procedures being followed and identified gaps

in existing practices vis-à-vis the industry best practices. Based on

the understanding, we designed a procurement charter for

identifying suitable procurement routes to be taken basis the nature

and value of the procurement. We also suggested development of a

contract grid for easy identification of suitable terms and conditions

to be attached to the Purchase Orders/ contracts.

The Value We Added

The exercise allowed the Client to have a comprehensive and

scalable SOP manual for its Contracts & Procurement function,

which helped in standardizing and streamlining of the processes and

served as standard reference documents for its purchase

operations.

Design and Development of SOP Manual and templates for

a leading Oil & Gas Company

17PKC Advisory


Standard operating procedures manuals for the largest

distributor of ambient foods

Our Client

Largest distributor of ambient foods (part of a reputed diversified

group) in the Kingdom of Saudi Arabia.



SOP manual documents for six (6) of the business functions,

namely, Finance & Accounts, Sales, Marketing, Supply Chain,

Human Resources, and Administration.

Our Role

PKC Advisory undertook detailed discussions with the Client to

obtain ‘As-Is’ process understanding, had internal brainstorming

sessions, conducted research on industry best practices, and

subsequently identified gaps in the existing processes vis-à-vis

the best practices.

Based on the consolidated learnings, PKC Advisory developed

comprehensive SOP manuals for the business functions with well

defined key activities, segregated roles & responsibilities,

quantified frequency & timelines, clearly specified documentation

requirements, and streamlined inter-departmental interfaces. PKC

Advisory also developed process maps for the functions providing

clear and concise process overview, simplified complex

procedures, and logically aligned activities.

The Value We Added

The exercise allowed the Client to have comprehensive SOP

manual documents for its business functions.

Development of standard operating procedure manuals for

a leading educational group

Our Client

Reputed educational group based in the UAE.


The client was looking for streamlining its operations and in this

context, the objective of the assignment was to undertake

development of comprehensive standard operating procedures

(SOP) manuals for the Corporate Office and the K-12 Schools

operated by the client.

Our Role

Detailed discussions were undertaken with the Client to

understand procedures being followed and gaps were identified in

existing practices vis-à-vis the industry best practices.

Subsequently, PKC Advisory developed comprehensive SOP

Manuals with clearly defined roles and responsibilities for the

Budgeting, Finance & Accounts and Human Resource functions

at the Corporate level, and an SOP manual for the School

Operations covering critical areas such as Procurement, Canteen,

Housekeeping, Stores, Transportation, Facilities, Nursery and

Office Management.

The Value We Added

The exercise allowed the Client to have comprehensive and

scalable SOP manuals for its Corporate Office and School

Operations, which helped in standardizing and streamlining of the

processes and served as standard reference documents for

future schools.

18PKC Advisory


Development of organization structure, JDs, KPIs, key

departmental interfaces, and DoA framework for a real

estate development company

Our Client

One of the largest real estate development companies in the

MENA region.


The Client was seeking assistance in getting its organization

structure aligned, preparing job descriptions for key positions and

designing Departmental KPIs and a Delegation of Authority (DoA)

framework. PKC Advisory was mandated to assist the company

management in this exercise.

Our Role

After assessing the organization structure requirements based on

the go-forward strategies, requirement analysis, assessment of

roles and responsibilities of the key personnel,

PKC Advisory came up with a suitable organization structure,

detailed job descriptions for key positions, departmental KPIs,

and a DoA Framework clearly defining segregation of duties and

roles and responsibilities for each given activity thereby

optimizing the overall organizational design and effectiveness.

The Value We Added

The exercise provided the client with a robust organisation

structure, Job Descriptions, departmental KPIs along with a

Delegation of Authority Framework which were all aligned to its

go-forward strategies.

Our Client

Largest insurance service provider based out of Kuwait.


The Client assigned PKC Advisory the task of designing and

documenting the Standard Operating Procedures (SOP) manual for

its Reinsurance, Medical, Marine & Aviation, New Product

Development, Sales, Strategy & Project Management, Human

Resource, Procurement, Marketing, Finance & Accounts,

Information Technology and Legal Affairs functions.

Our Role

PKC Advisory undertook detailed discussions with the relevant

process owners at the corporate office to understand the procedures

of the operating functions, sales and support service functions.

Further, the team had internal brainstorming sessions, and

conducted secondary research for understanding the industry

leading practices. Based on the consolidated learnings, gaps

between existing practices vis-à-vis leading practices were identified

and discussed with all the relevant stakeholders. Finally, upon

agreement on future practices, PKC Advisory developed a

comprehensive SOP manuals with clearly defined roles and

responsibilities.

The Value We Added

The exercise allowed the Client to have comprehensive and

scalable SOP manuals for its operating, sales and support service

functions, which helped in standardizing and streamlining of the

processes and served as standard reference documents in future.

Development of standard operating procedure manual for

a leading Insurance service provider

Email : [email protected] Website : www.pkcadvisory.com

mailto:[email protected]

http://www.pkcadvisory.com/

process consulting...pkc advisory 6 risk and controls self assessment (rcsa) risk and control...

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