Governance, Risk and Compliance (GRC) Resources
Governance, risk and compliance (GRC) is emerging as an increasingly important initiative for managing risk across the enterprise and making more effective business decisions. An excellent description of what is GRC (and what it is not) has been developed by Corporate Integrity. And if you pay attention to what the analysts are saying, GRC seems to be a daunting endeavor:
Forrester: While enterprise GRC is ideally an executive-level endeavor, a holistic approach to GRC will stretch across five organizational levels of IT infrastructure, business, GRC support, risk and compliance, and governance.
The GRC Technology Puzzle: Getting All The Pieces To Fit (Feb. 2009)
Gartner: Despite broad recognition of the importance of comprehensive, unified risk management, Gartner’s research shows that few enterprises have succeeded in identifying and integrating the many disparate components of operational risk management.
Comprehensive Governance, Risk and Compliance Remains Elusive (2010)
But you only need to read the headlines to see that business decisions can have far-reaching consequences for the company, the economy, and even the world at large. With the economic meltdown, we’re seeing a renewed focus on governance and corporations are increasingly being held to higher levels of accountability which requires more complete and accessible data. We are also continuing to see increased regulations and increased frequency of regulatory changes. As a result, risk management has assumed a new importance moving beyond an actuarial science to become a day-to-day management activity for making more informed business decisions. Expanding current compliance activities into an enterprise-wide GRC initiative is quickly becoming a necessity.
Getting Started with Governance, Risk and Compliance
So where do you start? Enterprises must overcome a number of challenges to develop an effective GRC program. Organizations such as the Open Compliance & Ethics Group (OCEG) offer a variety of guidelines, services, and training to help companies start on the right path.
Neohapsis has developed a white paper – Governance, Risk, and Compliance: A Common-Sense Checklist for Getting Started – that offers a seven-point checklist to provide a framework for approaching your GRC program, help you think through the elements based on your organization’s cultural and operational requirements, and ensure you have all your GRC program management bases covered.
Neohapsis offers a range of GRC products and services to provide unprecedented visibility into the complex interrelationships between business objectives, people, information, risks, controls, and the state of compliance. Learn how Neohapsis can help you develop effective an effective GRC with: