20 / 28
Agency Risk Management and Internal Control Standards (ARMICS)
COMPLIANCE
VWC’s Compliance Process
Educate
Monitor
Investigate
Respond
Guidance on electronic
claims submissions,
coverage requirements,
and regulations is
provided to
stakeholders.
Employer and carrier
compliance is enforced
through various
processes including
report cards for EDI
submissions, and an
investigative team for
insurance compliance.
Monitoring compliance
of responsible parties
is handled by multiple
departments on a
regular basis.
VWC strives to
maintain open
communication with
partners through direct
contact, outreach
materials, and training
opportunities.
VirginiaWorkers’Compensation Commission | 2016 Annual Report
19
During 2016, the Commission identified 144 significant processes, conducted an agency-wide risk assessment, completed
Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis, and tested controls of high-risk processes. Other
supporting processes included assessing the Code of Ethics effectiveness as well as designing and testing controls vulnerable
to fraud. This agency-wide initiative provided support that operations are effective, allowing the Commission to file the
ARMICS Certification Statement –
No Significant Weaknesses in Internal Control
.
Operational benefits generated by ARMICS requirements included procedures for the 2016 implementation of Oracle™
PeopleSoft (Cardinal) financial system, discovery of department synergies, and agency-wide segregation of duties.