Governance, Risk and Compliance (GRC)
From market variability and regulatory compliance to human nature and technology, the possibility of uncertainty exists within everything. However, identifying, understanding and efficiently managing the risk that makes the difference between creating value and endangering success is only possible through a proactive approach by a risk-minded organization.
Being a risk-minded institution is now more important than ever, as more is at risk and losses are more devastating. As such, shareholders and regulatory authorities require senior management and board members to have more control and understand risks that affect all business operations including strategy, operations, reporting and compliance. Our highly experienced team provides comprehensive solutions for customers to improve their risk management skills, using proven methodologies and supplemental governance and risk models.
It is a challenge to ensure compatibility between technology and GRC. Suppliers have different opinions on what role technology should play in matters of GRC and support other aspects of the GRC process. For this reason, organizations are faced with inconsistent and ambiguous messages about the technological support they will require while implementing the GRC technologies. As such, it is even more important for organizations to have a valid strategy to help provide the necessary benefit while making the investments in technology for GRC.
· Identifying the appropriate strategy for risk management
· Evaluating the risk management capability of your organization
· Providing a risk management study to identify and prioritize business risks and create a common language for risk definition
· Identifying the GRC roadmap
· Monitoring GRC processes and controls
Governance, Risk & Compliance (GRC) Strategy and Planning
Management of access and segregation of duties is a matter that requires constant attention that is often overlooked or avoided, leading to a waste of time and money. Many organizations do not have an exact idea of the size of their own access management issues.
· Installation and configuration of a GRC access control tool
· Designing and defining the rules of the segregation of duties
· Comparisons on the maturity level of IT and business GRC access controls
· Resolving segregation of duty violations
· Providing guidance on how to resolve segregation of duty problems in IT and business
Access and authorization controls
One of the critical issues faced by the managements is increasing the effectiveness of business process controls while decreasing the monitoring costs associated with them. While implementing efficient control mechanisms to reduce risk, managements also need to fulfill business objectives and compliance requirements. GRC technologies aim to increase the effectiveness of controls in business processes, while helping meet business and compliance requirements.
· Installation and configuration of a GRC process control tool
· Workflow configuration to improve internal control automation, business process optimization and continuous control
· Implementing key controls to monitor and mitigate both IT and business risks
· Implementing and promoting process controls
· Integration of GRC access controls and GRP process controls
Business Process Controls