Your Ultimate Guide to Governance, Risk, and Compliance (US)

As emerging risks pop up and new regulations go into effect, how does your organization handle them? The answer should be “with a robust GRC programme”. GRC includes your organization's rules, practices, processes, and accountability measures (governance), identifying and mitigating potential threats (risk management), and adherence to applicable laws, regulations, and industry standards (compliance) — ideally working in tandem to achieve organizational goals.

As a risk management professional, your role in all this is like being the scout on the frontier. You’re the first to spot trouble, the first to take action. It’s not just about avoiding disaster; it’s about planning for the unexpected, whether it’s cyber risks, market volatility, or natural disasters, and ensuring that when the storm hits, you’re not blown off course.

Key steps in the risk management process include:

Risk Identification: Name it, frame it, tame it. Spot those landmines before they blow up in your face. Whether it’s a market crash, a cyber breach, or a rogue employee, you need to see it coming.

Risk Assessment: Measure twice, cut once. Weigh the odds and gauge the impact. Not all risks are created equal, so prioritise like your business depends on it — because it does.

Risk Mitigation: Action stations! Put up the defences, batten down the hatches. You’re in control, whether it’s shoring up your cybersecurity, addressing IT risks, tightening financial controls, or buying that crucial insurance policy. You’re not just playing the game — you’re making the rules.

Risk Monitoring and Reporting: Stay vigilant, stay ahead. Risks don’t take a holiday, and neither should you. Keep tabs on the landscape and report the shifts. This isn’t just about dodging bullets — it’s about staying in the game long-term.

Learn more about the principles of GRC, the benefits of an effective GRC programme, and how technology can make it easier in this must-have guide.