2016 Annual Report, Virginia Workers' Compensation Commission

COMPLIANCE

VWC’s Compliance Process Educate Monitor

Investigate

Respond

Guidance on electronic claims submissions, coverage requirements, and regulations is provided to stakeholders.

Monitoring compliance of responsible parties is handled by multiple departments on a regular basis.

Employer and carrier compliance is enforced through various processes including report cards for EDI submissions, and an investigative team for insurance compliance.

VWC strives to maintain open communication with partners through direct contact, outreach materials, and training opportunities.

Agency Risk Management and Internal Control Standards (ARMICS) 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.

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VirginiaWorkers’Compensation Commission | 2016 Annual Report