FERC Enforcement

Solution & Benefits Lifecycle Related Regulations

FERC Enforcement Lifecycle

The FERC enforcement lifecycle includes the following steps, all automatically enacted by the ProcessGene™ GRC Software Suite:

Lifecycle step FERC activity
FERC Enforcement context establishment
  1. Definition of FERC compliance related business processes
  2. Delineation of process diagrams (optional)
  3. Definition of assets within the FERC scope
  4. Standardization and documentation of FERC regulations, policies and procedures
Risk identification
  1. Risk description, identification of risk stakeholders
  2. Risk classification and determination of heat-maps
  3. Risk assessment and measurement
  4. Determination of Key Risk Indicators (KRIs)
  5. Risk tolerance determination
Control determination
  1. Definition of controls to mitigate identified FERC risks
  2. Assignment of FERC control owners
  3. Scheduling and monitoring FERC control execution
  4. Assessment of residual risk levels
Requirement management
  1. Requirement definition
  2. Automated requirement workflow management
  3. Requirement fulfillment monitoring
FERC audit and remediation
  1. Definition and scheduling of FERC audit plans
  2. Definition of mechanisms for testing ongoing FERC compliance
  3. Collection, analysis and storage of FERC audit results
  4. Remediation plan definition, execution and follow-up
FERC related incident management
  1. Incident recording
  2. FERC related incident handling (using scheduled workflows)
  3. FERC related incident analysis and reporting
  4. Incident monitoring and follow-up
FERC certification
  1. Hierarchal FERC certification process determination
  2. Establishment of an automated FERC certification process
  3. Monitoring and reporting FERC certification status
  4. Archiving FERC certification history
Multi-Org management
  1. Determination of a global FERC compliance baseline with mandatory components
  2. Establishing a workflow for examining local (subsidiary) variants
  3. Enforcement of enterprise guidelines, regulations and frameworks within subsidiaries
  4. Control FERC compliance level both locally (per subsidiary) and globally from a central HQ cockpit

The ProcessGene™ FERC Software Users

The ProcessGene™ FERC compliance software provides value to the following users:
  1. C-level management (CEO, CFO, CIO, CRO, COO)
  2. Board of directors
  3. Compliance officers
  4. Internal auditors
  5. FERC compliance managers



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