GRC Fundamentals
Download as PPTX, PDF1 like3,123 views
The document discusses the growing need for governance, risk, and compliance (GRC) solutions amidst increasing regulatory complexities and market volatility. It highlights the challenges in implementation, such as conceptualizing ROI and aligning GRC capabilities with organizational needs. Key themes include the transition from point GRC to enterprise GRC and the importance of compliance as a strategic initiative within organizations.
GRC Fundamentals
- 1. Governance, Risk, & Compliance Fundamentals David Houlihan Principal Analyst Blue Hill Research ©2013 Blue Hill Research. All Rights Reserved. ©2013 Blue Hill Research. All Rights Reserved.
- 2. Need for GRC Solutions is Growing, But Implementation is Challenging Compliance becomes top risk priority of Directors Increasing market / business volatility Demand for Solutions Regulatory regimes more complex Agencies more aggressive about enforcement The frequency and pain of data breaches is growing Information and function silos results in overlooked opportunities and exposures Sorting out GRC vendors visions and value propositions Challenges to Implementation ©2013 Blue Hill Research. All Rights Reserved. Difficulty conceptualizing ROI Unclear how to prioritize implementation strategies to maximize organizational benefit
- 3. Map GRC Capabilities to Organizational Needs GRC is maturing into a enterprise solution, but still suffers from fractured perspectives. Operational ? Users should start by determining functional areas and use cases that stand to benefit most. Financial? Enterprise? Legal? Organizations can then map out where core GRC capabilities can support their business processes. IT Security? Core GRC Capabilities Identify & Analyze Risks Set Controls ©2013 Blue Hill Research. All Rights Reserved. Monitor Identify Vulnerabilities Respond to incidents Report
- 4. The “Success Factors” of GRC Minimize exposure Reduce Compliance Cost Recognize Opp./Risk Executive Finance Maintain Data Security Technology Technology Remove Silos Reduce redundancy/complexity Line of Business LOB Reduce time spent on compliance tasks ©2013 Blue Hill Research. All Rights Reserved. Increase profile in organization
- 5. Key Themes to Consider Roll-up of “point” GRC to enterprise GRC Compliance as a C-suite initiative Risk agility and intelligence Data privacy and security Social media risk Anti-bribery, anti-laundering, and anti-terror compliance ©2013 Blue Hill Research. All Rights Reserved.
- 6. Thank you! To join the conversation, follow us on Phone: +1 (617) 624-3600 ©2013 Blue Hill Research. All Rights Reserved. Contact Sales: sales@bluehillresearch.com Contact Research: research@bluehillresearch.com 1