How Ascot Group Developed Efficient Controls to Mitigate Risk

In the latest installment of our Spotlight on Success series, Anthony Mandica (SVP, Internal Audit and Advisory) at Ascot Group shares how his team builds out controls with a solution that connects the risks that audit really cares about. Ascot Group is a global specialty insurance company with a presence in the US, UK, and Bermuda.

Hear how Ascot developed efficient processes with the right controls to mitigate risk, including:

• Leveraging AuditBoard’s connected risk platform to collaborate with security and ERM teams to ensure compliance and synchronicity in assessing risks and controls
• Using a solution that allows everyone to leverage each other’s work
• Spending more time thinking, analyzing, and challenging – rather than being mired down in administrative tasks

What does your role at the Ascot Insurance Group look like?

As a business partner to management and process owners, I’m worried about whether we have effective, efficient processes with the right controls to mitigate risk. I joined Ascot’s U.S. operations to build out their processes and controls. I partner with our security and enterprise risk management teams to make sure that we’re compliant and synchronized in assessing risks and controls. I’ve been auditing for 20 years, which means I’ve used audit solutions that are helpful and tools that are just part of the job.

Why did you choose AuditBoard?

When I researched AuditBoard and challenged its solution against competitors, I could tell that it was the tool that auditors need to use. AuditBoard provides everything you need to work better and faster than any other solution. The ultimate goal is to build out the controls for our U.K. and Bermuda locations, too. We’ll bring the controls they currently have into a solution that connects the risks that audit cares about from a financial operational regulatory risk perspective. Our teams are no longer working in an Excel file, they’re using a solution that allows everyone to leverage each other’s work.

How has AuditBoard helped you?

You accomplish more when you have a tool that works with you, not against you. When you see that you’re able to get so much more done in a work week, you can enjoy your weekends and time off with family. You’re not worrying about other questions: how do I track everything? Did I catch everything? It’s all covered in this solution. You’re spending more time thinking, analyzing, and challenging, rather than being mired down in administrative tasks. It puts your priorities in the right place to know that AuditBoard is constantly reevaluating your platform and trying to make it better for its clients. It really helps you feel like you made the right decision to go with AuditBoard and that you signed onto the right platform.