In plain English
In compliance, remediation means addressing findings from a supervisor, an auditor or a review. Good remediation starts by finding the root cause, then agrees a plan with owners and milestones, implements the changes, validates that they work, and assembles the evidence needed to close the finding.
Remediation can be narrow, such as fixing a procedure, or large, such as reviewing historic customer files or transactions to correct past errors.
Why it matters to a board
Boards are accountable for making sure commitments to supervisors are met. They should see progress against milestones, not only a list of actions.
Common mistakes
- Addressing symptoms instead of the root cause.
- Agreeing unrealistic dates under pressure.
- Closing findings without independent validation or evidence.
- Treating remediation as a project that ends, instead of controls that must keep working.
What the standards and regulators say
- Your supervisor's findings letter and any agreed remediation plan set the requirements for your case.