A World-Class Enterprise Risk Management (ERM) or Governance, Risk and Compliance (GRC) program offers numerous benefits to organizations of all sizes and across various industries. Here are 20 key elements needed for the creation of an efficient, effective, and successful program: 1. Mission Statement Purposeful connection of strategy and tactics 2. Framework – Part A[…]
One acronym after another. An ice cream headache, for sure, trying to understand the similarities, differences and connectivity between all these terms. You need to do it, however. Simplify, simplify, simplify. Break it down and truly comprehend everything. Get ready for the proverbial elevator speech, if the need for one materializes. Toward that goal, here[…]
When it comes to any discussion involving the acronym GRC (Governance, Risk and Compliance), understanding the speaker’s frame of reference is paramount. From a vendor’s perspective, GRC refers to an automated suite of capabilities designed to address a broad range of challenges associated with critical disciplines managed by the client (e.g. compliance, risk management, audit,[…]
Like cars, whose investment and value we protect and preserve with regular annual maintenance at the least, your GRC and risk management processes and tools require careful regular service to preserve and extend their value and utility. Business environments are fluid. Change is a reliable variable from one year to another. Your business may have[…]
There’s a lingering belief that these are IT management concerns. That lingering belief is founded upon a “perceived reality” of a business operating in an environment where IT was little more than a contributing discipline to complete tasks and deliver efficiency. It made some narrow sense in a world free of cyber anything, pre-internet, where[…]
Almost every blog entry listed here makes some reference to a Governance, Risk, and Compliance (GRC) software tool and how it can help you manage cyber risk. But what if you don’t have one of these? What about spreadsheets? Or home grown database tools you made yourself and are certain are “good enough”? And suppose[…]
Third Party Risk Management (TPRM) is more than just management of a group or category of business relationships. It is a program unto itself with its own unique characteristics and methods. Too often, TPRM is viewed and undertaken as a procurement process subset. That can lead to a collection of discrete transactions managed on a[…]
Thirty-five years ago, my first article was published in a professional journal. It was the outgrowth of a talk I gave at a business conference on the use of computer generated graphical information reporting. In 1987 those technologies were in their infancy. Computerized business graphics, pie, line, and bar charts, generated using desktop systems and[…]
December brings more to our days than images of bright lights, holiday cheer, family gatherings, and for some, maybe a sprinkling of snow. In our work-realm of business and cyber risk management, it’s a time for reflection, refinement, and preparation for the year to come. Unless your business is retail or related, and you’re panting[…]
Summertime, and the living is, once again, easy—sort of. Just a few summers ago these were the days of occasional remote work, long weekends, holidays, vacations, and for some companies, shortened “summer hours”. As our work routines have made the separation of office, work, and personal time a fluid continuum, our risk perimeter and footprint[…]