The requirements for a GRC integration

July 2, 2015 by Luc Brandts
Filed under: Governance, Risk and Compliance

The abstract language on how to integrate GRC initiatives is quite complex and lengthy. There is an overwhelming amount of notes, blogs and reports on the benefits of integrated GRC, mostly from professionals in the industry who have an interest in the integration but not having done the integration first hand. It is very interesting to note that very few individuals talk about what actually needs to be done.

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Tags: GRC

Common mistakes in implementing GRC

April 28, 2015 by Luc Brandts
Filed under: General, Governance, Risk and Compliance

In our recent webinar, which was co-hosted by Forrester, we discussed some of the most prevalent mistakes in implementing GRC. Poor data governance, the need for data integration and aggregation, as well as flexibility in the data model and the GRC technology are all vital components of implementing an effective GRC program, yet they are often overseen, and at best underestimated.

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Tags: GRC

Conduct Risk: An Overview

March 19, 2015 by Luc Brandts
Filed under: Risk Management

Doesn’t it seem odd that we are perceived to need a government organization to oversee institutional conduct in the world of finance? Well no, not really. In light of recent scandals involving the antics of some banks, with their manipulation of the LIBOR rate, mis-selling, golden handshakes (many seen as rewarding failure), huge bonuses and questionable tax avoidance schemes for wealthy clients, is it little wonder that governments have decided to increase their oversight and strengthen their regulatory powers?

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Tags: Risk, Risk Management

The Real Risks

December 12, 2014 by Luc Brandts
Filed under: Risk Management

When you know something will happen, it is no longer a risk because you can prepare. Risk is defined as the ‘effect of uncertainty of objectives’ (ISO 31.000), so if you know something will happen, you don’t need to be afraid, because you can prepare. I have to confess that there are circumstances where I would like to know what will happen, but I would still be afraid of the lion approaching. But, in that case, I could have known lions exist, and I should have prepared (in most cases that is).

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Tags: Risk Management

Too Dangerous to Ignore: 3rd Party Risk and Anti-Bribery & Corruption

October 23, 2014 by Luc Brandts
Filed under: General, Compliance Management

Recently, I read several news stories about large companies exposed to dangerous security breaches from working with third parties, leaving their customers vulnerable to identify theft and potential financial loss. This expresses it is crucial to establish policies, procedures, and controls to monitor and detect these risks. It is important that governance, audit, risk, and compliance professionals understand the current challenges they are facing, the ever changing regulations, and what can be done to improve their current processes.

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Tags: Compliance

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