LOLC honoured amongst top US establishments at global event
View(s):LOLC Group’s Enterprise Risk Management operations won a prestigious, global accolade, receiving the US-based Achievement Award for Governance, Risk Management and Compliance (GRC) for 2012. A company media release, said this award was presented by the Open Compliance and Ethics Group (OCEG) at the 7th Annual Compliance Week Conference for Corporate, Financial, Legal, Risk, Audit and Compliance Officers, at the Mayflower Hotel in WashingtonC.BrianBarnier, Chairman of the Judging panel, an OCEG Fellow and Principal Analyst of ValueBridge Advisors presented the award to the LOLC Group.
LOLC was adjudged a winner along with three other top US companies and government agencies, namely; The Bureau of Public Debt-Office of Financing of the U.S. Department of Treasury; The Federal Home Loan Bank of Chicago; and Sybase, an SAP Company, LOLC aid. “The specialty of this award is that LOLC was the only Asian Company who bagged the Achievement Award. At the ceremony, LOLC Group’s Enterprise Risk Management system was acclaimed by the judging panel, with notable praise bestowed on the Group’s centralized Integrated Risk Management Structure,” it said.
In her congratulatory note to LOLC, Ms. Carole Switzer, President of the OCEG said, “I am writing to extend my personal congratulations to LOLC, as a recipient of 2012 GRC Achievement Award from OCEG. The awards recognize the great strides that companies, government agencies and other organizations have made in improving and integrating their approaches to governance, risk management and compliance, to achieve Principled Performance.”
LOLC was praised for managing the complexity in regulatory and risk issues in their risk profiles, whilst facing a range of corporate cultures throughout its multitude of subsidiaries, and the challenge of governing a growing conglomerate. LOLC said that receiving the GRC Achievement Award, in recognition of its efforts on a global platform, is a tremendous achievement for the entire LOLC Group of Companies and for the country.
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