If you don't know where your Governance, Risk Management and Compliance (GRC) processes are headed, any path may take you there. However we suggest developing your own roadmap to reach your desired destinationThere is a conflict of interest issue within the organization, when management focuses is on overcoming idle operational practices throughout the organization but the underlying divisions and business units have a different interest than the corporate. Putting in place the right level and combination of GRC policies and processes, may often require management to rethinking the company's strategic- and financial-planning structure. After attending the Copenhagen Compliance Conference you probably will identify the components and find that the rewards will make the effort worthwhile. Several of the Key Note speeches will focus on how to escape the tyranny of idle operational practices of check the box controls into creating more dynamic portfolios out of the box. When you want to develop a Governance, Risk Management and Compliance agenda, it's helpful to have an achievement objective and a time frame in mind with milestones and thresholds. Where to place the GRC bar, what is the risk appetite, do we have an IT platform that can handle the GRC processes are a few of the questions that should not be answered in clear terms. The right answers may change or improve the business environment without creating additional burdens or bureaucratic processes in the organization. Further you will get detailed information to inspire you to structure your responses to your GRC processes based on a roadmap. Several experts will define how to move beyond generic GRC statements, such as strengthen our internal controls or continue to mitigate our risks. In order to identify dangerous business processes and create a foundation for prudent GRC, Bribery, Fraud and Corruption potholes, you need to ensure adequate commitment, talent, and other resources to achieve the goals. After setting the GRC targets the organizations and companies need to define the mechanisms for monitoring, revisiting and adjusting them over time. We suggest a quarterly review of GRC process based on our checklist that examines the performance of the pre defined core GRC processes against the matrix and measures:
One of the many panel or round table discussion during the Copenhagen Compliance Conference are: Discussion. Is Good Governance is Good Business? A common GRC challenge all over the world, is in finding fresh ways to make enterprise GRC Strategies That Increase Efficiencies Across the Organization Panelists: Mr. Rob van Straten, Jens Røder, Hege Sjø, Simon Collins, Luka Lu Moderator, Lady Olga Maitland. Co-chair Mariano Davies |