The Bottom Line - Winter 2019 - 22

OCFO's Risk Approach

New District Integrated
Financial System (DIFS)
for the

By Marshelle Richardson, Chief Risk Officer
and Ronald Peterson, Risk and Compliance
Specialist

I

n alignment with best practices and experience, the Office of the Chief Financial Officer
(OCFO) has set the tone across the agency
regarding the overall approach to manage risk.
To minimize risk in Oracle Cloud DIFS, the OCFO
will incorporate internal control risk themes and
activities into each of the implementation waves
of the DIFS project.

The OCFO will focus on four internal control
risk themes: adapting to the speed of change;
implementing risk management responses; providing clear, concise and consistent communication; and continuous monitoring of business processes to ensure controls are
properly designed, implemented, and operating effectively.
THEME 1: ADAPTING TO THE SPEED OF CHANGE
The OCFO has strategically integrated an internal risk management function focusing on business processes to inform
project stakeholders about factors , that they may not be familiar
with and may not recognize as risk associated with new business processes within the DIFS.

THE BOTTOM LINE



The Bottom Line - Winter 2019

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