The Business Assurance team is an independent function, which reports to the Audit Committee and provides objective assurance and consulting activities to the business designed to add value, improve the organisation’s operations and safeguard the integrity of The National Lottery. We are an integral part of the “3 Lines of Defence” model, providing assurance as part of the 2nd and 3rd lines.
Our team is split into three clusters that have separate responsibilities, but we work closely with each other to maximise the level of assurance to our business. Those three clusters are:
Internal Audit: responsible for providing independent, objective assessment of the adequacy and effectiveness of Camelot's internal control environment, risk management and governance processes to the Board and the Audit, Risk and Security Committee (ARSC).
Compliance: responsible for delivering assurance, oversight and providing guidance to the first line (operational areas). Key activities include delivering the Self Assessment programme across the business, conducting regular internal compliance checks and financial recalculations as well as ensuring the business is meeting its regulatory responsibilities as set out in the Licence conditions matrix (LCM).
Risk and Insurance: responsible for facilitating effective deployment of the ERM policy and framework across the business. We also secure appropriate insurance coverage for the operational activities of the business.
Primarily we serve the executives by providing assurance over our business activities. We also work directly with our regulator, the Gambling Commission to provide assurance that Camelot is meeting regulatory requirements. Ultimately, the work we do brings about improvements to Camelot that has a positive impact on our players.
As already mentioned, we are not just accountants! Our team includes people with varied skill sets from a range of other industries including, retail, financial services, energy, insurance and even construction! Our wide skill set allows us to provide effective assurance to the business. This includes auditing, risk management, insurance and control assessments.
The team has had a lot of new joiners lately so we have been getting to know each other both inside and outside of the office. As part of the Living Life Changing programme (Camelot’s volunteering programme), some members of the team recently spent a couple of days helping out at Watford Mencap sites, where we were painting, jet washing and clearing the garden to give the children a playground to enjoy. It gave us a chance to get to know each other away form our desks which was helped to strenghten relationships in the team. We also join the wider Finance department in daytime activities to enhance team-working, which has included a visit to Mini Golf and Flight Club (darts!), where people got to show their competitive side over a beer!