Difference between revisions of "Regulatory Сompliance Quarter"

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[[Business Intelligence Quarter]] (hereinafter, the ''Quarter'') is the second of four lectures of [[Organizational Quadrivium]] (hereinafter, the ''Quadrivium''):
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[[Regulatory Сompliance Quarter]] (hereinafter, the ''Quarter'') is a lecture introducing the learners to [[team analysis]] primarily through key topics related to [[business intelligence]]. The ''Quarter'' is the second of four lectures of [[Team Quadrivium]], which is the sixth of seven modules of '''[[Septem Artes Administrativi]]''' (hereinafter, the ''Course''). The ''Course'' is designed to introduce the learners to general concepts in [[business administration]], [[management]], and [[organizational behavior]].
*The ''Quarter'' is designed to introduce its learners to [[enterprise discovery]], or, in other words, to concepts related to obtaining data needed to administer the [[enterprise effort]]; and
 
*The ''Quadrivium'' examines concepts of administering various types of enterprises known as [[enterprise administration]] as a whole.
 
 
 
The ''Quadrivium'' is the first of seven modules of [[Septem Artes Administrativi]], which is a course designed to introduce its learners to general concepts in [[business administration]], [[management]], and [[organizational behavior]].
 
  
  
 
==Outline==
 
==Outline==
''The predecessor lecture is [[Market Engagements Quarter]].''
+
''[[Market Intercourses Quarter]] is the predecessor lecture. In the [[enterprise research]] series, the previous lecture is [[Social Rationale Quarter]].''
  
 
===Concepts===
 
===Concepts===
#'''[[Business intelligence]]'''. [[Information]] that managers can use to make more effective strategic decisions.
+
#'''[[Regulatory compliance]]'''. A [[legal entity]]'s adherence to laws, regulations, guidelines and specifications relevant to its [[business]]es. Violations of [[regulatory compliance]] requirements often result in legal punishment, including fines.
#*[[Anonymization]]. The severing of links between people in a database and their records to prevent the discovery of the source of the records, and to maintain privacy and confidentiality.
+
#*[[Compliance]]. The action or fact of complying with a wish, command, [[standard]], [[policy]], [[law]], [[rule]], [[requirement]], and/or [[regulation]].
#*[[Association]]. A link between two elements or objects in a diagram.
+
#*[[508 compliance]]. [[Compliance]] to the [[Federal Electronic and Information Technology Accessibility and Compliance Act]], also known as the new Section 508 of the Rehabilitation Act of 1973.
#*[[Systematic study]]. Looking at relationships, attempting to attribute causes and effects, and drawing conclusions based on scientific evidence.
+
#'''[[Authority]]'''. The rights inherent in a managerial position to establish policies and/or give orders to subordinates to expect the orders to be obeyed.
#*[[Behavioral analytics]]. Using data about people's behavior to understand intent and predict future actions.
+
#*[[Line authority]]. Authority that entitles a manager to direct the work of an employee.
#'''[[Data curation]]'''. The management of data throughout its lifecycle, from creation and initial storage to the time when it is archived for posterity or becomes obsolete, and is deleted. The main purpose of [[data curation]] is to ensure that data is reliably retrievable for future research purposes or reuse.
+
#*[[Staff authority]]. Positions with some authority that have been created to support, assist, and advise those holding [[line authority]].
#*[[Data validation]]. The process of ensuring that [[data]] have undergone data cleansing to ensure they have data quality, that is, that the [[data]] is both correct and useful.
+
#'''[[Policy]]'''. A guideline for making decisions.
#*[[Data gap]]. Indentification of data gaps in available information in reference to a particular procurement.
+
#*[[Operative rule]]. A business rule that an [[enterprise]] chooses to enforce as a matter of policy. [[Operative rule]]s are intended to guide the actions of people working within the business. They may oblige people to take certain actions, prevent people from taking actions, or prescribe the conditions under which an action may be taken.
#'''[[Data model]]'''. A [[model]] that depicts the logical structure of data, independent of the data design or data storage mechanisms. A [[data model]] is the result of a collaborative effort between end business users and IT database analysts. The first step is to define in plain English what data the business needs in order for its various functions to communicate with each other, and how this data must be ordered and structured so it makes the most sense. The second step is for the data analysts and other IT staff to devise a technical data base, a data storage and security plan, and a plan that enables application and analytic report development using this data. Together, these processes result in a data model for the business.
+
#'''[[Rule]]'''. One of a set of explicit or understood [[regulation]]s or [[principle]]s governing conduct within a particular activity or sphere.
#*[[Optionality]]. Defining whether or not a relationship between entities in a data model is mandatory. Optionality is shown on a data model with a special notation.
+
#*[[Guideline]]. A general [[rule]], [[principle]], or piece of advice.
#*[[Cardinality]]. The number of occurrences of one entity in a data model that are linked to a second entity. Cardinality is shown on a data model with a special notation, number (e.g., 1), or letter (e.g., M for many).
+
#*[[Principle]]. (1) A fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning; (2) A fundamental source or basis of something.
#*[[Data flow diagram]] (DFD). An analysis model that illustrates processes that occur, along with the flows of data to and from those processes.
+
#'''[[Standard]]'''. (1) A level of [[quality]] or attainment; (2) A [[concept]] or thing used as a measure, norm, or model in comparative evaluations.
#*[[State diagram]]. An analysis model showing the life cycle of a data entity or class.
+
#*[[ISO 9000]]. A series of international quality management [[standard]]s that set uniform guidelines for [[process]]es to entire products conform to customer requirements.
#*[[Sequence diagram]]. A type of diagram that shows objects participating in interactions and the messages exchanged between them.
+
#'''[[Regulation]]'''. (1) A rule or directive made and maintained by an [[authority]]; (2) The action or process of regulating or being regulated.
#*[[Class model]]. A type of data model that depicts information groups as classes.
+
#*[[Industry regulation]].  
#*[[Snapshot]]. A view of data at a particular moment in time.
+
#*[[Enterprise regulation]].
#'''[[Data dictionary]]'''. An analysis model describing the data structures and attributes needed by the system.
+
#'''[[Government regulation]]'''.  
#*[[Data entity]]. A group of related information to be stored by the system. Entities can be people, roles, places, things, organizations, occurrences in time, concepts, or documents.
+
#*[[Labor law]]. A set of government rules that regulate relationships between [[employee]]s, [[employer]]s, trade unions and the government. Government agencies usually enforce that set of laws.
#*[[Attribute]]. A data element with a specified data type that describes information associated with a concept or entity.
+
#'''[[Self-regulation]]''' (or [[self-imposed regulation]]).  
#*[[Glossary]]. A list and definition of the business terms and concepts relevant to the solution being built or enhanced.
+
#'''[[Compliance control]]'''. The body responsible for or the process designed to ensure that actual performance and products of this performance comply with existing regulations. Most commonly, the number of regulations tends to increase, so does the need for operational transparency. To ensure that all necessary governance requirements can be met without the unnecessary duplication of effort and activity from resources, [[enterprise]]s are increasingly adopting the use of consolidated and harmonized sets of [[compliance control]]s.
#*[[Jargon]]. Specialized terminology or technical language that members of a group use to communicate among themselves.
+
#'''[[Compliance data]]'''. All data belonging or pertaining to [[enterprise]] or included in the law, which can be used for the purpose of implementing or validating compliance. It is the set of all data that is relevant to a [[governance officer]] or to a court of law for the purposes of validating consistency, completeness, or compliance.
#'''[[Data manipulation]]'''. The action of manipulating [[data]] in a skillful manner.
+
#'''[[License]]'''. (1) An official permission or permit to do, use, or own something; (2) A document of permission to do, use, or own something.
#*[[Filtering]]. A sender's deliberate manipulation of information to make it appear more favorable or be seen more favorably by the receiver.
+
#*[[Software license]].  
#*[[Filter]]. A mechanism that includes or excludes specific data from reports based upon what the user decides to filter (e.g., to tightly tailor a report, you might strictly want records of customers between the ages of 25 and 35 who like skiing, but you want to exclude everyone else).
+
#*[[Open-source]].  
#'''[[Categorization]]'''.
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#'''[[Licensing]]'''. One [[legal entity]] grants another [[legal entity]] the right to do, use, or own something. [[Property licensing]] usually involves permission to make or sell its products using its technology or product specifications.
#*[[Structural rule]]. Structural rules determine when something is or is not true or when things fall into a certain category. They describe categorizations that may change over time.
+
#*[[One-window]]. An adjective that describes a service operation at which all of a customer's needs may be satisfied by a single server, without waiting in a second line.
#*[[Knowledge area]]. A group of related tasks that support a key function of business analysis.
+
#*[[Government licensing]].
#*[[Schema]]. The structure that defines the organization of data in a database.
+
#'''[[Intellectual property]]'''. Proprietary information that's critical to an enterprise's efficient and effective functioning and competitiveness.
#*[[Data mart]]. A small data repository that is focused on information for a specific subject area of the company, such as Sales, Finance, or Marketing.
+
#*[[Trademark]].
#*[[Data warehouse]]. A data repository that deals with multiple subject areas (or data marts).
+
#*[[Brand]].
#'''[[Big data]]'''. The vast amount of quantifiable information that can be analyzed by highly sophisticated data processing.
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#*[[Copyright]].
#*[[Contextual data]]. A structuring of big data that attaches situational contexts to single elements of big data to enrich them with business meaning (e.g., instead of a customer record that tells you the customer's name and address, data appended to this record data also gives the customer's buying preferences, which is gathered from recent web activity data). The result is a more complete understanding of the customer and her lifestyle.
+
#'''[[Patent licensing]]'''.
#*[[Multipolar analytics]]. A distributed big data model where data is collected, stored, and analyzed in different areas of the company instead of being centrally located and analyzed.
+
#*[[Patent]].  
#'''[[Data visualization]]'''. A method of putting data in a visual or a pictorial context as a way to assist users in better understanding what the data are telling them (e.g., a map is a way to visualize which areas of the country get the most rainfall).
+
#'''[[Privacy]]'''.
#*[[Data point]]. An individual item on a graph or a chart.
 
#'''[[Forecasting]]'''. A process that uses [[historical data]] to predict future outcomes.
 
#*[[Forecast]]. Prediction of outcome.
 
#*[[Qualitative forecasting]]. Forecasting that uses the judgment and opinions of knowledgeable individuals to predict outcomes.
 
#*[[Quantitative forecasting]]. Forecasting that applies a set of mathematical rules to a series of past data to predict outcomes.
 
#*[[Scenario]]. A consistent view of what the future is likely to be.
 
  
 
===Roles===
 
===Roles===
#'''[[Data broker]]'''. A business that collects personal information about consumers and sells that information to other organizations.
+
#'''[[Governance officer]]'''.
 +
#*[[Compliance manager]]. A [[manager]] who plans, directs, and/or coordinates activities of an organization to ensure compliance with ethical or regulatory standards.
 +
#*[[Compliance officer]]. A professional who examines, evaluates, and investigates eligibility for or conformity with laws and regulations governing contract compliance of licenses and permits, and performs other compliance and enforcement inspection and analysis activities not classified elsewhere.
 +
#*[[Regulatory affairs manager]]. A [[manager]] who plans, directs, or coordinates production activities of an organization to ensure compliance with regulations and standard operating procedures.
 +
#*[[Regulatory affairs specialist]]. A professional who coordinates and documents internal regulatory processes, such as internal audits, inspections, license renewals, or registrations. He or she may compile and prepare materials for submission to regulatory agencies.
 +
#'''[[Accountant]]'''. An individual whose job is to keep, inspect, and/or analyze financial accounts. Some [[accountant]]s create the annual financial statements and tax calculations. Often, [[accountant]]s perform as [[bookkeeper]]s, for instance, sort and enter financial data to a bookkeeping system. People sometimes interchange bookkeeper and accountant to mean the same thing.
 +
#*[[Certified Public Accountant]] ([[Certified Public Accountant|CPA]]). A person who trains and qualifies in advanced financial care of a business, particularly specializing in collating and preparing annual financial reports, income tax preparation and filing, and providing advanced advice on how to improve and grow businesses in accordance with tax laws and other legal implications. CPA's can provide support to and work along with bookkeepers to ensure all the financial data is being entered into the bookkeeping system correctly to make tax preparation easier.
 +
 
 +
===Institutions===
 +
#'''[[Regulator]]'''. A [[stakeholder]] with legal or governance [[authority]] over the solution or the process used to develop it.
 +
#*[[Regulatory agency]].
 +
#'''[[Government]]'''.
 +
#*[[Central government]].
 +
#*[[Local government]].
 +
#'''[[United States Internal Revenue Service]]''' ([[IRS]]).
  
 
===Methods===
 
===Methods===
#'''[[Data-analysis technique]]'''.
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#'''[[Data backup]]'''. An electronic copy of the [[financial data]]. This could be either to a cd disc, usb drive or some sort of cloud storage. Backups are vital to preventing loss of data if the computer crashes. The last thing you want to do is spend hours re-entering all the transactions for the previous months and re-do the bank reconciliations and everything else.
#*[[Investigation]]. The formal or systematic examination of [[data source]]s that uses one or more [[data-gathering technique]]s and is conducted in order to gather [[data]] and/or assess [[data reliability]].
 
#*[[Slice and dice]]. Data manipulation tools in reporting or spreadsheet software that allow users to view data from any angle.
 
  
 
===Instruments===
 
===Instruments===
#'''[[Data-analysis tool]]'''.
+
#'''[[Contract]]'''. A mutually-binding [[agreement]] by which a [[buyer]] is obligated to acquire specified [[deliverable]]s from a [[seller]]. Usually, but not necessarily, the ''buyer'' pays the ''seller''. A [[contract]] may define other obligations of the ''buyer'' and the ''seller''.
#*[[Database]]. A collection of data arranged for convenient and quick search and retrieval by applications and analytics software.
+
#*[[Agreement]]. (1) A negotiated and typically, but not necessarily legally binding arrangement between parties as to a course of action; (2) Harmony or accordance in opinion or feeling; a position or result of agreeing.
#*[[Management information system]] ([[Management information system|MIS]]). A system used to provide management with needed information on a regular basis.
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#[[File:Org-forms.png|400px|thumb|right|[[Legal entity]]]]'''[[Legal entity]]'''. Any entity such as an legally-adult individual or a corporation to which the law grants property rights and responsibilities. Particularly, the rights include [[capacity]] to buy and sell, enter into agreements or contracts, assume obligations, incur and pay debts, sue and be sued, as well as be held responsible for its actions.
#*[[Digital tool]]. Technology, systems, or software that allow the user to collect, visualize, understand, or analyze data.
+
#*[[Sole proprietorship]]. A form of [[legal entity]] in which the single owner maintains sole and complete control over the business and is personally liable for business debts.
#'''[[Performance management system]]'''. Establishes performance standards used to evaluate employee performance.
+
#*[[General partnership]]. A form of legal organization in which two or more business owners share the management and risk of the business.
 +
#*[[Limited liability partnership]] ([[LLP]]). A form of legal organization in which consisting of general partner(s) and limited liability partner(s).
 +
#'''[[Corporation]]'''. A form of [[legal entity]] that is owned by stockholders. Stockholders usually are not personally liable for the corporation's debts.
 +
#*[[Closely held corporation]]. A corporation owned by a limited number of people who do not trade the stock publicly.
 +
#*[[Initial public offering]]. The first public registration and sale of a company's stock.
 +
#*[[S corporation]]. A specialized type of corporation that has the regular characteristics of a C corporation, but is unique in that the owners are taxed as a partnership as long as certain criteria are met.
 +
#'''[[Limited liability company]]''' ([[LLC]]). A form of [[legal entity]] that is owned by one or more members. Members are only liable to the extent of their investments.
 +
#*[[Operating agreement]]. The document that outlines the provisions governing the way a [[limited liability company]] will conduct business.
 +
#'''[[Compliance software]]'''. A software system that while being implemented helps [[enterprise]]s manage their [[compliance data]] more efficiently.
  
 
===Practices===
 
===Practices===
  
''The successor lecture is [[Workgroup Design Quarter]].''
+
''[[Workforce Arrangements Quarter]] is the successor lecture. In the [[enterprise research]] series, the next lecture is [[Enterprise Intelligence Quarter]].''
  
 
==Materials==
 
==Materials==
Line 78: Line 88:
  
 
==See also==
 
==See also==
 +
 +
[[Category:Septem Artes Administrativi]][[Category:Lecture notes]]

Latest revision as of 01:06, 14 June 2023

Regulatory Сompliance Quarter (hereinafter, the Quarter) is a lecture introducing the learners to team analysis primarily through key topics related to business intelligence. The Quarter is the second of four lectures of Team Quadrivium, which is the sixth of seven modules of Septem Artes Administrativi (hereinafter, the Course). The Course is designed to introduce the learners to general concepts in business administration, management, and organizational behavior.


Outline

Market Intercourses Quarter is the predecessor lecture. In the enterprise research series, the previous lecture is Social Rationale Quarter.

Concepts

  1. Regulatory compliance. A legal entity's adherence to laws, regulations, guidelines and specifications relevant to its businesses. Violations of regulatory compliance requirements often result in legal punishment, including fines.
  2. Authority. The rights inherent in a managerial position to establish policies and/or give orders to subordinates to expect the orders to be obeyed.
    • Line authority. Authority that entitles a manager to direct the work of an employee.
    • Staff authority. Positions with some authority that have been created to support, assist, and advise those holding line authority.
  3. Policy. A guideline for making decisions.
    • Operative rule. A business rule that an enterprise chooses to enforce as a matter of policy. Operative rules are intended to guide the actions of people working within the business. They may oblige people to take certain actions, prevent people from taking actions, or prescribe the conditions under which an action may be taken.
  4. Rule. One of a set of explicit or understood regulations or principles governing conduct within a particular activity or sphere.
    • Guideline. A general rule, principle, or piece of advice.
    • Principle. (1) A fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning; (2) A fundamental source or basis of something.
  5. Standard. (1) A level of quality or attainment; (2) A concept or thing used as a measure, norm, or model in comparative evaluations.
    • ISO 9000. A series of international quality management standards that set uniform guidelines for processes to entire products conform to customer requirements.
  6. Regulation. (1) A rule or directive made and maintained by an authority; (2) The action or process of regulating or being regulated.
  7. Government regulation.
    • Labor law. A set of government rules that regulate relationships between employees, employers, trade unions and the government. Government agencies usually enforce that set of laws.
  8. Self-regulation (or self-imposed regulation).
  9. Compliance control. The body responsible for or the process designed to ensure that actual performance and products of this performance comply with existing regulations. Most commonly, the number of regulations tends to increase, so does the need for operational transparency. To ensure that all necessary governance requirements can be met without the unnecessary duplication of effort and activity from resources, enterprises are increasingly adopting the use of consolidated and harmonized sets of compliance controls.
  10. Compliance data. All data belonging or pertaining to enterprise or included in the law, which can be used for the purpose of implementing or validating compliance. It is the set of all data that is relevant to a governance officer or to a court of law for the purposes of validating consistency, completeness, or compliance.
  11. License. (1) An official permission or permit to do, use, or own something; (2) A document of permission to do, use, or own something.
  12. Licensing. One legal entity grants another legal entity the right to do, use, or own something. Property licensing usually involves permission to make or sell its products using its technology or product specifications.
    • One-window. An adjective that describes a service operation at which all of a customer's needs may be satisfied by a single server, without waiting in a second line.
    • Government licensing.
  13. Intellectual property. Proprietary information that's critical to an enterprise's efficient and effective functioning and competitiveness.
  14. Patent licensing.
  15. Privacy.

Roles

  1. Governance officer.
    • Compliance manager. A manager who plans, directs, and/or coordinates activities of an organization to ensure compliance with ethical or regulatory standards.
    • Compliance officer. A professional who examines, evaluates, and investigates eligibility for or conformity with laws and regulations governing contract compliance of licenses and permits, and performs other compliance and enforcement inspection and analysis activities not classified elsewhere.
    • Regulatory affairs manager. A manager who plans, directs, or coordinates production activities of an organization to ensure compliance with regulations and standard operating procedures.
    • Regulatory affairs specialist. A professional who coordinates and documents internal regulatory processes, such as internal audits, inspections, license renewals, or registrations. He or she may compile and prepare materials for submission to regulatory agencies.
  2. Accountant. An individual whose job is to keep, inspect, and/or analyze financial accounts. Some accountants create the annual financial statements and tax calculations. Often, accountants perform as bookkeepers, for instance, sort and enter financial data to a bookkeeping system. People sometimes interchange bookkeeper and accountant to mean the same thing.
    • Certified Public Accountant (CPA). A person who trains and qualifies in advanced financial care of a business, particularly specializing in collating and preparing annual financial reports, income tax preparation and filing, and providing advanced advice on how to improve and grow businesses in accordance with tax laws and other legal implications. CPA's can provide support to and work along with bookkeepers to ensure all the financial data is being entered into the bookkeeping system correctly to make tax preparation easier.

Institutions

  1. Regulator. A stakeholder with legal or governance authority over the solution or the process used to develop it.
  2. Government.
  3. United States Internal Revenue Service (IRS).

Methods

  1. Data backup. An electronic copy of the financial data. This could be either to a cd disc, usb drive or some sort of cloud storage. Backups are vital to preventing loss of data if the computer crashes. The last thing you want to do is spend hours re-entering all the transactions for the previous months and re-do the bank reconciliations and everything else.

Instruments

  1. Contract. A mutually-binding agreement by which a buyer is obligated to acquire specified deliverables from a seller. Usually, but not necessarily, the buyer pays the seller. A contract may define other obligations of the buyer and the seller.
    • Agreement. (1) A negotiated and typically, but not necessarily legally binding arrangement between parties as to a course of action; (2) Harmony or accordance in opinion or feeling; a position or result of agreeing.
  2. Legal entity. Any entity such as an legally-adult individual or a corporation to which the law grants property rights and responsibilities. Particularly, the rights include capacity to buy and sell, enter into agreements or contracts, assume obligations, incur and pay debts, sue and be sued, as well as be held responsible for its actions.
    • Sole proprietorship. A form of legal entity in which the single owner maintains sole and complete control over the business and is personally liable for business debts.
    • General partnership. A form of legal organization in which two or more business owners share the management and risk of the business.
    • Limited liability partnership (LLP). A form of legal organization in which consisting of general partner(s) and limited liability partner(s).
  3. Corporation. A form of legal entity that is owned by stockholders. Stockholders usually are not personally liable for the corporation's debts.
    • Closely held corporation. A corporation owned by a limited number of people who do not trade the stock publicly.
    • Initial public offering. The first public registration and sale of a company's stock.
    • S corporation. A specialized type of corporation that has the regular characteristics of a C corporation, but is unique in that the owners are taxed as a partnership as long as certain criteria are met.
  4. Limited liability company (LLC). A form of legal entity that is owned by one or more members. Members are only liable to the extent of their investments.
  5. Compliance software. A software system that while being implemented helps enterprises manage their compliance data more efficiently.

Practices

Workforce Arrangements Quarter is the successor lecture. In the enterprise research series, the next lecture is Enterprise Intelligence Quarter.

Materials

Recorded audio

Recorded video

Live sessions

Texts and graphics

See also