The four fundamentals of Governance Risk & Compliance

Governance

Governance stands for good governance with the core concepts of transparency, accountability and control. Successfully achieving goals can only be achieved if the frameworks are clear, the risk profile is known and the controls are effectively in place.

Risk

By definition, doing business requires taking risks. The balance between risk taking and control is essential in this regard. Risk management enables the organization to prioritize and steer with a healthy dose of guts.

Compliance

Complying with legal frameworks and standards increasingly plays a role in an organization's raison d'être. Integrity and reliability are requirements for customers, third parties and regulators to do business. Compliance offers the tools for this.

Audit

While the GRC abbreviation does not provide an A for audit, it is a fundamental part of Governance, Risk & Compliance. Audit can provide assurance that the other three GRC foundations are met. Internal and external audits provide proof of competence.

Successful GRC is only possible through collaboration

Send an organization in the right direction, deal with uncertainties and be accountable; this is true Governance, Risk & Compliance (GRC) is all about. Sstrategy, direction and control are therefore the ideal combination. Successful GRC is only possible through collaboration. In addition to their own specialisms, the various GRC professionals will also have to have an eye for others within the Three Lines Model (3LM). This is the only way to join forces and prioritise within the organization. This is to achieve the strategic objectives and connect with the risk appetite of the management. To professionalize as an organization the correct  balance between people, process and technology necessary. GRC tools promote higher maturity by introducing an improvement cycle-driven approach. A clear risk profile and frameworks can be tested and audited to be in control and to stay.  

Three Lines Model

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Prioritizing through risk control

Good prioritization supports thoughtful decision-making. Especially in these rapidly changing, uncertain and complex times, this makes the role of a risk manager and controller indispensable. GRC software helps to keep an overview and provides information necessary for risk-based decision-making.

Read more about Risk & Control Management >

Active monitoring and accountability

How do you involve the organization in the audit process? And how do you arrive at an ‘in control’ statement? These are just two questions faced by complex and dynamic environments. GRC tools make it possible to perform relevant checks. In this way, the main risks are addressed and recommendations are monitored and followed up.
  
Read more about Audit Management >
 

Movement vs. frames

Compliance can be experienced as stifling at times. But how do you keep the balance between complying with the rules and keeping a workable situation? Risk appetite provides space for dialogue and leads to statements about freedom of movement. NARIS GRC® facilitates this process and helps organizations to compliance to be applied in such a way that people remain breathing room bestand.

Read more about Compliance Management & ISMS >

Learning from mistakes

Many organizations see incidents and near misses as something bad. Too bad, because these components are actually the fuel for growth and improvement. GRC tools contribute to a positive reporting culture and increase the learning capacity of an organization. Reporting, analysis, follow-up and monitoring can thus all take place within one system.

Read more about Incident Management &gt ;

Handling liability and claims

The way in which organizations deal with liability, damage and claims has a major impact on their image. As with incident management, it offers opportunities for a positive image. However, careful handling is essential. GRC software offers the possibility to respond adequately to accidents and guarantees independence from insurers and third parties.  

Read more about Contract &amp ; insurance management >

Report strategy and management

Associating risks with strategic goals. It helps controllers to perform their work efficiently and provides powerful reports to send. However, it is not easy to create a single overview. Tools like NARIS GRC® help to create strategy maps. In this way, strategies and management models can be presented in one overview.

Read more about Strategy & Performance Management >

The 5 Principles of Governance

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Inspiration around Governance Risk Compliance (GRC).

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