Veracord Solutions

Veracord’s compliance services deliver high quality and meet performance standards, and when applied, typically improve profitability and performance. Veracord understands the unique needs and challenges facing regulated industries and clients of all sizes Take advantage of unique access to practical, cost-effective business solutions.

Veracord assists organizations deal with a range of organizational and operational initiatives, from creating an organizational culture of compliance to preparing for audits.  Our consulting practice is client-centric , and our staff is well educated and experienced with all aspects of compliance. We support consulting engagements throughout North America. Our services include:

Compliance Gap Analysis

• Expert consultants compare your documentation and evidence with what is required with each applicable Regulatory requirement.· The analysis of the resulting compliance gap results in a Gap Assessment, which provides a roadmap for filling the gaps · Recommendations are then made to strengthen current documentation.

A Risked Based Approach to Remediation

• The results of the Gap Assessment are then tactically organized through the application of a Risk Based Approach methodology.  Veracord’s Risk Based approach identifies the criteria to measure potential risks. In collaboration with our clients, we determine and implement proportionate risk mitigation measures and controls.  Risks may not be initially evident, making ongoing monitoring a fundamental component of Veracord’s risk based approach.  Veracord’s Risk Based Approach calculates Risk probabilities and their corresponding damage potentials, which results in pragmatic prioritization according to risk severity, operationalized as a weighted combination of damage and probability.

Documentation Development

• Includes writing company policies and procedures

Mock Audit Services
Our compliance consultants conduct a mock audit specific to the relevant Regulatory guidance.  This process typically includes:

• Interviews with key personnel
• Review of current documentation and evidence
• On-site debriefing with key stakeholders at conclusion of audit
• Tips for a successful audit for clients who have not undergone an audit

Compliance Training
Our compliance and training experts can build any level of organizational compliance training, including online training or classroom-type presentations. The most popular topics are:

• Overview of the importance of compliance, including compliance enforcement
• The corporate compliance statement, and how the organization values and polices for compliance, e.g., executive support for compliance and how internal compliance violations are addressed
• Training and ongoing support to assist clients develop a Culture of Compliance.  Veracord’s commitment is driven by our observations that the most important factor in determining the amount of the penalty a Regulatory Agency levies against infractions is directly related to the seriousness of the offense and the strength of the entity’s commitment to compliance.
• Defining the compliance program
• Disseminating information
• Training appropriate personnel
• Identifying measurable targets

Client Subject Matter Expert Coaching
This involves working directly with your SMEs and compliance staff to prepare for compliance audits, and includes familiarizing the audit participants and key stakeholders with the process of a compliance audit, and share with the client generally accepted practices of what to say and how to present evidence.

Vendor Auditing
Veracord has performed numerous audits of vendors of software products, contract service companies, technology service providers, and data management organizations on behalf of our clients. Audits are performed to determine the level of compliance with relevant local and national regulations and guidance, and to minimize business and technical risks for our clients. Our audits are formally documented in Vendor Audit Reports with reference to the relevant regulations and guidance, and include extensive and detailed recommendations for corrective action.

Quality Management and Compliance Consulting Services
Veracord Regulatory Compliance Consulting Services include general Quality Management and Compliance Consulting to assist companies with the development or improvement of quality assurance, quality control, and quality management processes, procedures, and controls. Our trained and experienced consultants provide expert reviews of company policies, procedures, and techniques. We provide our recommendations in a formal report that provides strategic and tactical improvements in policies, procedures, and documentation, and our trained personnel are available to write missing or deficient quality management documents.