The Shift From Risk Monitoring to Risk Anticipation
Why Predictive Risk Intelligence Will Define the Next Generation of GRC
For decades, governance, risk management, and compliance (GRC) programs have been built around monitoring. Organizations monitor controls, risks, regulations, issues, incidents, third parties, policies, audits, key risk indicators, and performance metrics. Monitoring is necessary. It tells the organization what is happening, what has failed, what is out of tolerance, and what requires attention. But monitoring has a fundamental limitation: it is often looking at the present through evidence from the past.
In a world of volatility, interconnected risk, geopolitical instability, regulatory velocity, cyber disruption, third-party fragility, economic uncertainty, and rapid technological change, monitoring alone is no longer enough. By the time many risks appear on a dashboard, the organization may already be exposed. By the time an issue is escalated, the impact may already be spreading. By the time a control fails, the damage may already be underway. By the time a regulatory change is mapped, the business may already be behind.
Monitoring Is Necessary, But It Is Not Sufficient
Traditional risk monitoring has focused on . . .
[The rest of this blog can be read on the Cura blog, where GRC 20/20’s Michael Rasmussen is a Guest Blogger]