Risk is everywhere, especially for modern businesses. Now, understanding that there is risk associated with everything is paramount to risk management. Everything from the core of your business to what your employees do outside of work constantly gets scrutinized. Thus, more often than not, business owners find themselves mitigating risks instead of acting in… Continue reading Governance, Risk and Compliance 2022 & Beyond
IBM OpenPages GRC Services | GRC Consulting – iTechGRC
Category: Sub Industry
Understanding ESG Risks
ESG (Environmental Social Governance) includes metrics that measure social responsibility, environmental sustainability, governance, and shared values. It is becoming increasingly important to businesses, with more than 500 firms now routinely reporting ESG data. Investors, employees, and customers are demanding more transparency from companies to assess their sustainability credentials. ESG risk management is becoming a must-have… Continue reading Understanding ESG Risks
Enterprise risk management technology | What is it?
What is Enterprise risk management? Enterprise risk management (ERM) is the process of planning, organizing, directing, and controlling the activities of an organization to minimize the harmful effects of risk on its revenue as well as reputation. Enterprise risk management includes financial risks, strategic risks, operational risks, and risks associated with accidental losses. ERM can… Continue reading Enterprise risk management technology | What is it?
What is IT Governance?
IT governance is a critical aspect of an organization’s overall enterprise risk management process. It is a process of establishing IT policies that determine the proper use of IT assets, and it forces an organization to think about the role of IT in its business. Through IT governance, an organization can identify and measure its… Continue reading What is IT Governance?
What is Operational risk management?
Operational risk management (ORM) is a continual recurring process that includes risk assessment, risk decision making, and the implementation of risk controls, resulting in the acceptance, mitigation, or avoidance of risk. (ORM) is a way to get a holistic view of a company’s risk footprint throughout the supply chain—and everyone across the organization has a… Continue reading What is Operational risk management?
Maintaining Vendor Compliance
The rules organizations must adhere to so they can maintain compliance is often hard for organizations to keep up with. Regulations seem to change monthly and the cost of being compliant keeps rising. Business operations that deal with sensitive data store this information digitally where cybercriminals are patiently waiting to pounce at the slightest… Continue reading Maintaining Vendor Compliance
What is a Vendor Management Policy?
Organizations are connected to more vendors now than ever before. In fact, the number of third-party relationships an organization can have can be over 5,000. Organizations can find themselves on the hook for huge fines and other negative consequences, if they fail to meet compliance regulations and or suffer an attack. This is true even… Continue reading What is a Vendor Management Policy?
Integrated Risk Management Framework. What is it?
What is Integrated Risk Management? Integrated Risk Management (IRM) is an essential approach in modern business that combines processes, technologies, and a risk-aware culture. This integration enhances decision-making and performance by offering a comprehensive view of an organization’s risk profile. Understanding IRM’s significance requires grasping its structured approach, known as the Integrated Risk Management Framework… Continue reading Integrated Risk Management Framework. What is it?
Compliance and risk management. What is the difference between the two?
Regulations are increasing across the globe and it’s forcing boards of directors to participate in all matters of the company’s business. This is especially true in the areas of compliance with the law and industry regulations. Huge variations in the economic climate during the last few decades have also raised expectations of stakeholders who want to invest in companies with a formidable reputation for regulatory compliance. Increased compliance regulations and… Continue reading Compliance and risk management. What is the difference between the two?
What is policy management?
What is policy management and why is it important? Policy Management refers to the creation, communication, and management of all the policies and procedures implemented by an organization. Policies are the foundation of governance, risk, and compliance (or GRC) strategy. Every business consists of various departments, and policy management governs the creation and distribution of policies, so other parts of the organization don’t create their… Continue reading What is policy management?