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11 Aon Risk Compliance Checks To Pass

11 Aon Risk Compliance Checks To Pass
11 Aon Risk Compliance Checks To Pass

Aon is a leading global professional services firm that provides a range of risk, retirement, and health solutions. To ensure compliance with regulatory requirements and industry standards, Aon conducts thorough risk assessments and compliance checks. Here are 11 key risk compliance checks that organizations should be prepared to pass when working with Aon:

Introduction to Aon Risk Compliance Checks

Aon’s risk compliance checks are designed to identify potential risks and vulnerabilities that could impact an organization’s operations, reputation, or financial stability. These checks are typically conducted as part of a comprehensive risk assessment or audit, and may involve reviews of an organization’s policies, procedures, and internal controls. By understanding the 11 key risk compliance checks outlined below, organizations can better prepare themselves for Aon’s risk assessment process and ensure that they are adequately managing their risks.

Risk Compliance Check 1: Data Protection and Privacy

Aon’s first risk compliance check focuses on an organization’s data protection and privacy policies and procedures. This includes reviews of data handling practices, data encryption methods, and employee training programs. Organizations should be prepared to demonstrate their compliance with relevant data protection regulations, such as the General Data Protection Regulation (GDPR) or the California Consumer Privacy Act (CCPA).

Compliance CategoryRequired Controls
Data ProtectionEncryption, access controls, data backups
PrivacyEmployee training, data subject rights, incident response plan
💡 Organizations should ensure that their data protection and privacy policies are up-to-date and aligned with relevant regulatory requirements. This includes implementing incident response plans and providing regular employee training on data handling practices.

Risk Compliance Check 2: Information Security

Aon’s second risk compliance check evaluates an organization’s information security controls, including network security, application security, and incident response plans. Organizations should be prepared to demonstrate their compliance with industry standards, such as the NIST Cybersecurity Framework or the ISO 27001 standard.

Key areas of focus for this check include:

  • Network security controls, such as firewalls and intrusion detection systems
  • Application security controls, such as secure coding practices and vulnerability management
  • Incident response plans, including procedures for responding to security incidents and notifying affected parties

Risk Compliance Check 3: Compliance with Regulatory Requirements

Aon's third risk compliance check assesses an organization's compliance with relevant regulatory requirements, including anti-money laundering (AML) and know-your-customer (KYC) regulations. Organizations should be prepared to demonstrate their compliance with regulations, such as the Bank Secrecy Act (BSA) or the USA PATRIOT Act.

Regulatory RequirementRequired Controls
AMLCustomer due diligence, transaction monitoring, reporting suspicious activity
KYCCustomer identification, verification, and validation
💡 Organizations should ensure that their compliance programs are up-to-date and aligned with relevant regulatory requirements. This includes implementing customer due diligence programs and providing regular training on AML and KYC regulations.

Risk Compliance Check 4: Business Continuity and Disaster Recovery

Aon’s fourth risk compliance check evaluates an organization’s business continuity and disaster recovery plans, including business impact analysis and risk assessments. Organizations should be prepared to demonstrate their ability to respond to and recover from disruptions, such as natural disasters or cyber attacks.

Key areas of focus for this check include:

  1. Business impact analysis, including identification of critical business processes and dependencies
  2. Risk assessments, including evaluation of potential risks and threats to business operations
  3. Business continuity plans, including procedures for responding to disruptions and maintaining business operations

Risk Compliance Check 5: Financial Reporting and Accounting

Aon's fifth risk compliance check assesses an organization's financial reporting and accounting practices, including financial statement preparation and internal controls. Organizations should be prepared to demonstrate their compliance with relevant accounting standards, such as GAAP or IFRS.

Financial Reporting CategoryRequired Controls
Financial Statement PreparationAccounting policies, financial statement review, audit committee oversight
Internal ControlsControl environment, risk assessment, control activities, monitoring and review
💡 Organizations should ensure that their financial reporting and accounting practices are transparent and compliant with relevant accounting standards. This includes implementing internal controls and providing regular training on financial reporting and accounting procedures.

Risk Compliance Check 6: Environmental and Social Responsibility

Aon’s sixth risk compliance check evaluates an organization’s environmental and social responsibility practices, including environmental sustainability and corporate social responsibility. Organizations should be prepared to demonstrate their commitment to environmental and social responsibility, including implementation of sustainability initiatives and community engagement programs.

Key areas of focus for this check include:

  • Environmental sustainability, including reduction of greenhouse gas emissions and waste management
  • Corporate social responsibility, including community engagement and philanthropy
  • Human rights, including respect for human rights and fair labor practices

Risk Compliance Check 7: Health and Safety

Aon's seventh risk compliance check assesses an organization's health and safety practices, including workplace safety and employee wellness. Organizations should be prepared to demonstrate their commitment to maintaining a safe and healthy work environment, including implementation of safety protocols and employee wellness programs.

Health and Safety CategoryRequired Controls
Workplace SafetyRisk assessments, safety protocols, employee training
Employee WellnessWellness programs, employee assistance programs, health promotion initiatives
💡 Organizations should ensure that their health and safety practices are aligned with relevant regulatory requirements and industry standards. This includes implementing safety protocols and providing regular training on workplace safety and employee wellness.

Risk Compliance Check 8: Insurance and Risk Financing

Aon’s eighth risk compliance check evaluates an organization’s insurance and risk financing practices, including insurance coverage and risk retention. Organizations should be prepared to demonstrate their ability to manage and finance risks, including implementation of insurance programs and risk financing strategies.

Key areas of focus for this check include:

  1. Insurance coverage, including property, liability, and workers' compensation insurance
  2. Risk retention, including self-insurance and captive insurance programs
  3. Risk financing, including funding mechanisms and risk transfer strategies

Risk Compliance Check 9: Compliance with Industry Standards

Aon's ninth risk compliance check assesses an organization's compliance with relevant industry standards, including quality management and information security. Organizations should be prepared to demonstrate their compliance with industry standards, such as ISO 9001 or ISO 27001.

Industry StandardRequired Controls
Quality ManagementQuality policies, procedures, and objectives
Information SecurityInformation security policies, procedures, and controls
💡 Organizations should ensure that their compliance programs are aligned with relevant industry standards and regulatory requirements. This includes implementing quality management systems and providing regular training on industry standards and best practices.

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