Integrated Management System - IMS

Align your management systems to realise their objectives

As organisations grow, the number of standards and management systems they must support grows too. By unifying your management systems into an integrated whole, you reduce their overheads, complexity and competing priorities.

Challenges of Maintaining Management Systems

Whether through a desire to mature business processes or to meet compliance obligations, organisations are increasingly faced with the challenges of maintaining multiple management systems or certifications.

Management Challenges

Our clients report a number of common challenges in managing and retaining their certifications and management systems:
+ Duplicated and conflicting documentation and policies
+ Audit costs and associated downtime
+ Management systems locked into organisational silos
+ Relinquishing certifications due to costs and complexity
+ Little appetite to adopt new standards due to existing overheads

Integrated Management System

Our Approach

To address the difficulties our clients have experienced in maintaining their existing suite of standards and adopting new standards, we offer the following approach to building an Integrated Management System.

Firstly we work with you to understand your business and its objectives. Once this context is analysed, we review your system suite to identify:
+ Common processes
+ Duplicated policies and documentation
+ How staff resources are applied to system maintenance
+ Existing audit structures
+ Current benefit realisation

Once we mutually understand your true current position, we work with your team to:
+ streamline existing management systems
+ simplify adoption of new management system standards
+ accelerate the adoption of new management system standards
+ achieve cost reductions by merging common systems, processes and standards into one structure
+ review and mature existing management system processes
+ reduce audit costs by assessing shared components once only
+ centralise system administration out of departmental silos

ISO Standards

An Integrated Management System can be built to accomodate many different standards (talk to us about your requirements), but is easily applied to standards based upon MSS (Type A), following Annex SL. A selection of candidate standards follows:

Pain Points

Our experience in the field has shown that Finance sector organisations experience common pain points in their risk and security strategies:

Ineffective planning and response to cyber and business continuity incidents

Meeting regulator and contractual security obligations

Build a single management framework to govern multiple initiatives: security, quality, privacy, resilience

Unrealised Opportunities

Not unreasonably, our clients frequently describe their focus as being the negatives of risk – security threats, compliance obligations, implementation costs – rather than seeing the opportunities which can grow from a well structured security strategy:

Security supports Business

Security objectives align with business goals

New business realised

Improved security permits a more aggressive business strategy

Focused costs

Coordinated risk response means reduced security spend

Vital Advisory’s Approach

After working with multiple clients in the sector, Vital Advisory has developed a key set of approaches to address the security risk and governance challenges clients face:

Security aligned with Business

Just like any other function within your organisation, Security should be aligned with your business objectives. The first step in any of our engagements is a detailed analysis of your business context, so that we build a detailed picture of what you do, what business environment you operate in, your capabilities, what processes and assets matter most. Once we have a shared, clear image of your business, we can determine: where security resources are most critical; how security costs can be managed; how security can enable new business.

Structured risk processes

By structuring risk and security governance, we ensure that all the stages of risk management (identification, assessment, treatment, monitoring) are systematically applied across your organisation. We achieve this via recognised security standards, such as ISO 27001 and CPS 234. This method ensures that security is no longer a scattergun approach but targeted at the risks which genuinely threaten your organisation.

Coordinated Security Effort

Basing your security response on a governing standard, such as ISO 27001, ensures that each key security domain (IT, HR, physical, suppliers, continuity, etc.) is assessed and appropriately defended. Security becomes a whole-of-organisation concern, not just and IT problem. Gap analysis between your capabilities and those applicable from the ISO 27001 or CPS 234 standards provides an implementation map.

Streamlined Partner & vendor Management

Many of our clients are heavily reliant upon external suppliers for Cloud, IT, and software development, yet they lack depth in being able to assess the security capabilities of these vendors. We work with clients to systematically appraise the security posture of vendors and ensure that regulatory compliance in managing third-parties is accomplished.

Staff engagement – from Board to Coalface

Even in organisations with mature security capabilities there is often a perception that security is purely an IT Team problem. Our staff of experienced trainers work with each client to design a customised engagement plan which demonstrates to staff at all levels that security is a core issue which each individual can be a key player in.

Realised Outcomes

Finance industry clients of Vital Advisory have accomplished a range of enduring business benefits – from a more effective and comprehensive security capability to demonstrating regulatory compliance and reduced business overheads.

Partnerships with Vital Advisory can be one-time consultancies or ongoing As-A-Service models.

End-to-End Security Management

Security controls cover the full gamut of relevant risks and are governed and monitored throughout their lifecycle.

Board Confidence

The Board and senior management are engaged and have improved visibility into how risk and security operate.

Simplified Partner Onboarding

Complex and time consuming security questionnaires are removed from the equation of doing business.

START THE DISCUSSION

To discuss how Vital Advisory can assist with your risk, security and compliance goals, phone +61 420 978 258.