Risk and Compliance Advisory Services

The Vendor is required to provide audit, financial, planning, and other advisory services.
- firm would be familiar with governmental audit compliance, provide assistance for monitoring staff on Agency Risk assessments and best practices, as well as advise on audit procedures and testing.
- Provide management advisory, internal audit, compliance, and governance support in a public sector environment, including experience working with governmental agencies and advising executive and senior leadership on related matters.
- Review and assess existing policies, procedures, materials, and operational processes for compliance, internal control effectiveness, and process improvement opportunities, including key Agency Administration processes and onsite walkthroughs where appropriate.
- Develop, facilitate, and support agency wide risk assessment activities, including entity-wide, third-party, operational, and compliance risk assessments, and provide recommendations on best practices, monitoring approaches, and mitigation strategies.
- Perform targeted internal control, process, and data-based assessments, including limited internal control reviews, key data analysis, data mining for statistical and audit-related purposes, and evaluation of potential applications of analytics within the management/internal audit function
- Provide consultation and support related to financial systems, information technology governance, and associated business processes, including coordination on technology-related projects as they pertain to financial systems, controls, and governance.
- Develop strategic and operational support tools, including three-year rolling strategic plans, financial advisory training plans, surveys or questionnaires related to internal controls or processes, and feedback on policies, procedures, and other governance documents.
- Provide training, coaching, and technical assistance to agency staff, including fiduciary training, fiscal monitoring support, and other training or presentation materials delivered either by the firm or in coordination with agency staff.
- Support agency staff in process improvement, contract and pricing reviews, and third-party or vendor diligence efforts, including review of pricing models and related administrative or financial decision-making processes.
- Participate in meetings, calls, and discussions with agency management and staff, either in person or remotely, and provide general support on governance, risk, compliance, internal controls, and related response efforts, including potential fraud-related matters when identified.