Look around, and you will see several stakeholders scratching their heads when they hear about any GRC framework. The majority of your influential senior leaders try to avoid discussing the topic, thinking of it as a complex thing to take care of. However, the multiple benefits it brings to your company make it worth the effort. Since it is not an easy game to play alone, you need expert advice and suggestions. These leading personalities can help you focus on some key areas in this article at Tripwire.
Making the GRC Framework Work
First and foremost, you must understand the risks involved in your projects. Their definition is changing faster and becoming more complex with the layers of rules and regulations being introduced to organizations. But the best way to get rid of the risks is by addressing or turning them into opportunities. Instead of taking a negative approach, find out what you can achieve from the challenges.
A Structured Approach
Though risks can be cropping up from everywhere, you need some structured approach to mitigate them. There should be a method to the madness. This is possible with a GRC framework to rely on. Per WPCampus, “structures and processes that are designed to ensure accountability, transparency, responsiveness, the rule of law, stability, equity and inclusiveness, empowerment, and broad-based participation.”
For your GRC framework to work for your company, you must collaborate diligently with all teams. Communication helps to dilute the plausible misunderstandings and mismanagement. So, you must discuss with interdependent teams how a GRC framework can help them get things done better.
Instead of thinking of governance, risk, and compliance as an isolated effort, why not incorporate it as a routine checkup? Compliance, by itself, is another topic that people tend to avoid. However, you must understand its nuances rather than resist its implementation to stay ahead.
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