Potomac Forum The Forum of Choice for Government & Industry Training Since 1982

The Forum of Choice for Government & Industry Training Since 1982

Fraud Risk Management in Federal Programs Training Workshop III

Preventing, Assessing and Detecting Fraud in Government: Lessons Learned and Best Practices

Wednesday, December 11, 2019

Wednesday, December 11, 2019

Meeting Location: 
Willard InterContinental Hotel

Willard Intercontinental Hotel
1401 Pennsylvania Avenue N.W.
Washington 20004
United States

Metro Center (Red, Orange, Blue Lines). Use the exit marked “12th & F Sts” to exit onto F St., then continue straight two blocks and cross 14th St.

Overview: 

Fraud in government programs continues to be a significant concern. In 2018, GAO reported the federal government spent $550 billion on goods and services, over 40% of the government’s discretionary spending, highlighting the importance of placing emphasis on antifraud efforts within contracting and procurement. While completely eliminating fraud is infeasible, a risk-based approach can help agencies both prevent fraud and detect it earlier. Risk management is a key step in important activities and initiatives such as improper payment reduction and elimination internal controls, and payment integrity.

 

Fraudsters are always looking for the next opportunity to take advantage of unsuspecting victims through devious new methods and mediums. Fraud is, of course, unknown until detected—the industry is constantly shifting to decrease evolving risks. Understanding the types of fraud the agency is vulnerable to is imperative to safeguard taxpayer funds. With emerging technology such as AI, data analytics is a tool used across agencies in order to tackle fraud, waste and abuse. For example, Treasury’s Bureau of the Fiscal Service engaged 44 offices and programs across 24 federal agencies to understand the maturity of those analytics and to collaborate on how to reduce improper payments.

 

According to the Association of Certified Fraud Examiners (ACFE), organizations that undertake proactive data analysis techniques experience fraud that is 52% less costly than organizations that do not monitor and analyze data for fraudulent signals.

 

Participants will understand types of fraud agencies encounter, receive practical tips for conducting a fraud risk assessment, understand how to practically and cost-effectively apply data analytics to detect and prevent fraud, and discover ways to begin implementing the new techniques.

 

What You Will Learn: 

  • How to recognize fraud schemes within the agency and its programs;
  • Risk factors relevant to contracting and procurement, and understand key elements to conduct an effective fraud risk assessment of contracting and procurement;
  • How to "implement an integrated risk management approach" with current and future agency-wide program integrity and risk management initiatives;
  • Emerging trends in fraud investigation and prevention and how to incorporate these into current processes to mitigate fraud, waste, and abuse; and
  • How agencies are utilizing analytics in day-to-day activities to fight fraud as well as strategies for “visualizing fraud in your data” to identify fraud trends.

 

Who Should Attend: 

  • CXOs – Chief Financial Officers, Chief Acquisition Officers, Chief Data Officers,  Chief Procurement Officers
  • Agency Executives
  • Federal Government program executives, managers and staff responsible for programs or program review and oversight
  • Leaders working on IT modernization and digital government
  • Acquisitions professionals
  • IGs and Staff
  • State and local Government  Executives, Managers and staff

 

Format: 

Instructor Presentations, Classroom Discussions, and Guest Speakers

Agenda: 

Agenda Subject to Change

(Invited Speakers - Awaiting Confirmation)
 

7:30 am

Registration and Continental Breakfast

8:30 am

Welcome and Introduction

 

Art Chantker, President, Potomac Forum Ltd.

8:45 am

Workshop Overview, Objectives and Training Expectations

 

Linda Miller, Principal, Grant Thornton

9:00 am

Keynote Address

 

Alex Alexander, Deputy Administrator and Director, Center for Program Integrity – Centers for Medicare and Medicaid Services

9:30 am

Think Like a Fraudster


Understanding the types of fraud your agency is vulnerable to is imperative to safeguard taxpayer funds. In this session, participants will learn to “think like a fraudster” to recognize fraud schemes within their agency.

  • Learn how to effectively brainstorm fraud scenarios focused on specific programs or processes.
  • Identify key factors to consider when assessing fraud risk.
  • Indicate the distinctions between internal and external fraud
  • Understand how fraud can manifest in various forms (including nonfinancial).


Linda Miller, Principal, Grant Thornton

10:45 am

Refreshment Break

11:00 am

Contract and Procurement Fraud

In 2018, GAO reported the federal government spent $550 billion on goods and services, over 40% of the government’s discretionary spending, highlighting the importance of placing emphasis on antifraud efforts within contracting and procurement. In this session, participants will understand risk factors relevant to contracting and procurement, and understand key elements to conduct an effective fraud risk assessment of contracting and procurement.

  • Understand specific risks relevant to contracting and procurement.
  • Learn key elements to conduct an effective fraud risk assessment of procurement, including:
  • Capturing fraudulent concerns;
  • Assessing likelihood and impact; and
  • Evaluating inherent vs. residual risks.

 

Moderator: Awaiting confirmation 

Panelists: Awaiting confirmation

12:15 pm

Working Lunch – Government-wide Antifraud Analytics Inventory

 

Treasury’s Bureau of the Fiscal Service engaged 44 offices and programs across 24 federal agencies to understand the maturity of analytics used to tackle fraud, waste, and abuse, and to collaborate on how to reduce improper payments. In this session, participants will review the results of that effort and learn how agencies are utilizing analytics in day-to-day activities to fight fraud.

  • Understand contents of the Government-wide Antifraud Analytics Inventory.
  • Discuss best practices and success stories outlined in the Inventory and how agencies can adapt them for use.

 

Dharani Ranganathan, Manager, Grant Thornton

1:45 pm

Visualizing Fraud in Your Data

 

According to the Association of Certified Fraud Examiners (ACFE), organizations that undertake proactive data analysis techniques experience fraud that is 52% less costly than organizations that do not monitor and analyze data for fraudulent signals. In this session, participants will learn strategies for “visualizing fraud in your data” to identify fraud trends.

  • Learn how data analytics models can streamline and enhance fraud detection.
  • Discuss data analytics maturity models and the benefits agencies can achieve while maturing their data analytics capabilities.

 

Leigh Sheldon, Senior Manager, Grant Thornton

3:00 pm

Refreshment Break

3:15 pm

Implementing an Integrated Risk Management Approach

 

Risk management is a key step in important activities and initiatives such as improper payment reduction and elimination internal controls, and payment integrity. In this session, participants will understand how a risk assessment fits into this spectrum and participants will learn to "implement an integrated risk management approach" with current and future agency-wide program integrity and risk management initiatives.

  • Understand the distinctions and similarities between functions and programs such as enterprise risk management, financial reporting, improper payments, internal controls, and fraud risk management.
  • Learn to build on existing program integrity, reporting, and risk management efforts rather than reinventing the wheel.
  • Understand and connect varying program integrity and risk management guidance and legislation.

 

Linda Miller, Principal, Grant Thornton

Bobbi-Jo Pankaj, Managing Director, Grant Thornton

3:45 pm

Emerging Trends in Fraud Detection and Prevention

 

Fraudsters are always looking for the next opportunity to take advantage of unsuspecting victims through devious new methods and mediums. Fraud is, of course, unknown until detected—the industry is constantly shifting to decrease evolving risks. In this session, participants will learn “emerging trends in fraud investigation and prevention,” and how to incorporate these into current processes to mitigate fraud, waste, and abuse.

  • Indicate the steps needed to stay ahead of evolving fraud risks to include creating a culture of fraud risk awareness.
  • Develop risk scores in order to prioritize higher risks.
  • Incorporate recurring analyses of potential new fraudulent trends (e.g. cyber fraud, human behavior science).

 

Taylor Larimore, Senior Manager, Grant Thornton
Panelists: Awaiting confirmation

4:15 pm

Feedback on Class Expectations, Observations, Conclusions

  • Were Objectives Met?
  • Class Feedback

 

Linda Miller, Principal, Grant Thornton

4:45 pm

Workshop Adjourns

 

Registration Information: 

 

Early Bird Registration Fee

Registering after

November 22, 2019

Government Employees:

(Federal, State or Local Government Issued ID)

$795

Special Reduced Rates in support of Government Budget Reductions

 

$895

 

 

 

 

 

 

Team Rate for Government: Send a government Team to learn together. Register two government employees from the same office at the same time and the third person receives a $200 discount of the current government rate.

 

Registration includes: Presentations, Workshop Notebook, Continental Breakfast, All Day Refreshments and Hosted Luncheon

 

Cancellation Policy: 

Confirmed registrations who cancel within 3 business days of the program will be subject to a $250 cancellation fee. Registrations cancelled after the program starts are subject to the full registration fee. Substitutions can be made at any time. In the event a particular training workshop is cancelled, the liability of Potomac Forum, Ltd is limited to refund of any prepaid registration fee.

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