Ms. Souza says the compliance risk management framework at Walmart Brasil helps
project managers contribute to compliance e;orts
in areas as diverse as anti-money laundering, consumer protection, food safety and data security.
“We work with our global team to de;ne risks and
risk causes, and we have a system that includes all the
necessary information to see how we’re doing and if
we’re managing risks in the right way,” she says.
When it comes to compliance, project managers
must be risk managers, says Ms. Souza.
“Every time I have a meeting with people, I try
to look for risks and understand how to mitigate
them,” she says. “Sometimes [stakeholders] don’t
see the compliance risk, but project managers who
have a lot of risk training do.”
And that’s how the most e;ective teams work.
Project practitioners, compliance managers and
SPOTTING THE RISK
stakeholders each coming in with their own point
of view—but working together to make sure they
play by the rules. PM
on food safety, but after almost one year
of working at Walmart, I know what’s impor-
tant to food safety.”
Once they understand regulatory risks, project
practitioners can create and execute a comprehensive plan to mitigate and manage them.
“Risk management and compliance go hand in
“WITH CHANGING BUSINESS DYNAMICS AND
hand, because without a compliance framework your
project is high-risk,” Ms. Khairy says. “Risk manage-
ment and compliance may also be strengthened
through the creation of a PMO that handles these
issues at a corporate level for the organization.”
At the very least, project and program managers
should start with an outline of the applicable regula-
tory compliance standards along with relevant busi-
ness processes and internal controls.
REGULATIONS, IT HAS BECOME ESSENTIAL FOR
;PROJECT PRACTITIONERS; TO WORK IN TANDEM
WITH THE COMPLIANCE TEAM IN ORDER TO
EXECUTE ORGANIZATIONAL STRATEGY.”
—Vivek Tilgule, PMP, Crédit Agricole, Singapore