Ensured Compliance
The Situation
A major pharmaceutical multi-national urgently required the implementation of a compliance system. Indian subsidiary was under pressure from its German parent to act swiftly.
The Mumbai‐based subsidiary urgently needed to adopt a statutory compliance framework in preparation for a global audit by the European parent. The key deliverables tasked to the WIL Group were:
1. Review local Statutory Compliance framework vs. parent company’s policies.
2. Define Compliance Checklist to pre-empt violations.
3. Recommend process for efficient handling of compliance violation investigation and preventive mechanism.
4. Develop and recommend Risk Matrix.
The Solution
The WIL Group set up a multi‐functional team comprising of a finance manager and a legal professional to review the local statutory compliance environment and benchmark it against the parent company’s compliance framework.
The team interviewed various stakeholders within the organization to understand complexities and challenges; reviewed existing company policies, identified applicable local laws and developed a preventive and investigative mechanism to manage compliance violations
The Result
The WIL Group team structured a comprehensive compliance framework forthe company within three months. The final report included the compliance structure, a process for handling and mitigating compliance violations and a Risk Matrix for the company.
The recommended compliance framework adopted by the company successfully cleared the global audit by the European parent and was implemented by the local subsidiary.
Latest Case Studies
Link to Driving post-acquisition procurement integration for a global pharmaceutical company.
Driving post-acquisition procurement integration for a global pharmaceutical company.
Link to Facilitating the shut-down of a factory of a major US MNC
Facilitating the shut-down of a factory of a major US MNC
Link to X-PM's "Augmented Transition Management" in Addressing Transportation CO2 Emissions reduction with Global Collaboration
X-PM's "Augmented Transition Management" in Addressing Transportation CO2 Emissions reduction with Global Collaboration