The UCSF Financial Compliance Dashboard is a tool that will provide quick indicators to a Department or Unit of its financial compliance risks. We operate in a complex environment governed by a multitude of policies and regulations. Managing our business to ensure we are in compliant with all rules is challenging and oftentimes not performed very well. We want to create a tool in which departments/units could use to monitor financial compliance effectively and efficiently. We aim to incorporate the most critical areas of compliance in this dashboard as to not overwhelm the users, yet comprehensive enough to assess the overall department financial compliance risk.
1. Project Overview & Benefits:
A few years ago, Audit and Advisory Services (AAS) began using ACL, a data analytics tool in performing audit and review procedures. A number of data scripts were developed and later used by the Controller’s Office (CO) for tracking duplicate accounts payable payments and for contracts and grants compliance monitoring. In an effort to extend the use to other Control Points, AAS presented the tool and scripts to the Schools.
While the School of Medicine (SOM) was exploring ways in which they could be more proactive in managing compliance risk in order to replace their Risk Assessment Questionnaire, they decided to partner with AAS in developing a set of compliance metrics that would enable departments to monitor compliance risk without answering a number of questions to make a self-determination of risk. Soon into the project, they’ve discovered ACL was not the right tool to deliver the reports to the departments. AAS explored other BI analytics tools, specifically technology for dashboards. Tableau was selected because it easily connected with the ACL scripts. Dashboards were developed off of five scripts with the intent of piloting with some departments.
Around the same time, PamDash was rolled-out. News that Contracts & Grants Accounting (CGA) was going to develop compliance reports as well as they were looking into various tools too. That made the SOM re-think its approach. As we are all hungry for reports and dashboards to help perform our jobs better, we recognize there are so many. We felt the need to develop a comprehensive compliance strategy and delivery mechanism for the campus. We hope the departments would not have to receive multiple reports, log in to different tools, and review or respond to different groups on financial compliance. A compliance strategy workgroup have been created to drive this effort. Detail technical specifications of the dashboard will be developed with this workgroup.
2. Leader & Innovator:
The development of a UCSF Financial Compliance Dashboard would position UCSF in the forefront of continuous monitoring of compliance. By offering a central tool with easy to gage financial compliance indicators, departments would not have to guess how much risk they are carrying. They would not have to figure out what reports to run or what areas are of top concern as it would be identified for them in the dashboards. The transition from self-assessment to analytics assessment is an innovation.
3. Operational Needs:
There are currently no comprehensive compliance tool/dashboards at UCSF. Compliance reports are ran adhoc or generated centrally and sent to departments on a periodic basis. We need to identify financial compliance risk proactively so that we can implement effective internal controls to mitigate those risks.
4. Financial Impact:
The intent of a Financial Compliance Dashboard is to identify financial risk areas. By identifying the risk areas and addressing the weaknesses with corrective actions, we are protecting and securing UCSF financial resources. By mitigating financial risk, we can better prepare ourselves for financial audits and prevent potential loss of funding due to audit findings.
5. Requirement with Governing Bodies:
The tool is not specifically required by any governing bodies, but is designed to better manage compliance of policies and regulations set by governing bodies.
6. Matching Funds:
Currently, there is no source and amount of matching funds for this project.
7. Funding for Ongoing Maintenance:
Currently, no source of funds for ongoing operations and maintenance of solution have been identified.