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Best Practices for Managing FERC, NERC, SOX and Other Regulatory Compliance
An executive level discussion on best practices for managing FERC, NERC, SOX and Other Regulatory Requirements for the Power industry
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Energy companies are faced with a proliferation of compliance requirements and growing risk challenge that impose stringent oversight and reporting requirements. Industry regulations from FERC, NERC and state and regional public service commission combined with cross-industry regulations and mandates like Sarbanes Oxley (SOX) and ISO 9000 impact all business functions operationally as well as strategically. However, most organizations are still, functionally and technically disaggregated, which impedes business performance and makes managing Risk and Compliance a challenge.

In this environment, utility companies are looking to adopt a systematic approach for defining and managing risk and compliance programs through a sustainable and integrated process instead of multiple unrelated tactical projects.

In this webinar, we will discuss best practices and case studies on:

  • Risk management from S&P’s perspective – evaluating companies for credit-worthiness
  • Centralized documentation of requirements, risks, controls, assessments, and related policies and procedures for systematic compliance management
  • Integrated, closed loop compliance processes for identification, recording, reporting and remediation of issues, violations and exceptions
  • Compliance monitoring on role-based dashboards, control diagrams, and risk heat maps that provide real-time reporting and analytics
  • Reducing compliance costs through business process automation and efficient resource utilization
  • Enterprise compliance platform that provides the infrastructure to automate and streamline the compliance process

Panelists:

David R. Koenigs
Rich joined Con Edison in May 1972 and served in several areas of Corporate Accounting each with increasing responsibility. In 1983, he transferred to Corporate Planning and in 1985 became Division Controller of Brooklyn. In 1991, he was promoted to General Manager of Administration in Queens and in 1999 became a Section Manager for Customer Field Operations in Westchester. In 2001, he was given responsiblibility for Retail Choice programs in Customer Operations and in December 2004 was placed in charge of the Company’s Sarbanes-Oxley program. In 2005, Rich developed the Company’s Enterprise Risk Management process for which he still retains responsibility. Currently Rich is responsible for the Company’s Enterprise Risk management program. Rich manages a team of senior level managers across the organization which identifies, evaluates and mitigates the major risks of the company. Rich is also responsible for managing the Company’s Sarbanes-Oxley compliance program.
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