A successful risk management strategy requires a strong internal control environment. The RCM format emphasizes that strong and risk-oriented internal control environments are often optimized with automated/manual controls, depending on the situation.

An RCM provides an overview of different control objectives that organizations should take into consideration and the corresponding controls to safeguard the company against risks, which may arise if not checked timely. Once customized to an organization, this document can help the user in assessing each control. The control assessment can then also be summarized to develop an action plan.

This document outlines risks and controls common to the employee leave aspect of the 3.5.7 Manage & Administer Benefits process in a risk control matrix (RCM) format.

Sample risks include:

• The organization is not complying with government laws and regulations or company policies relative to employee leave benefits
• Employees are inappropriately approved or denied leave
• Policies are not communicated to employees or employees are not aware of policies
• Employees are inappropriately approved or denied leave
• Employee leave records are not updated and maintained to demonstrate compliance with applicable laws and regulations

This document can be used as a sample RCM and is not meant to be an exhaustive list of risks and controls. The KnowledgeLeader team will periodically update this RCM with new content. Organizations should select, update and modify the risks and controls included in this document to ensure that it reflects business operations.