The value of a third-party risk management strategy Traditional brick and mortar business is a thing of the past: physical buildings and conventional employees no longer define your organization. The modern organization is the extended enterprise: an interconnected maze of relationships and interactions that span traditional business boundaries. These relationships go beyond traditional employees to…

Risk management is a hot topic and focus within organizations. We are surrounded with acronyms of GRC (governance, risk management, and compliance), ERM (enterprise risk management), ORM (operational risk management), and now IRM (Gartner’s integrated risk management). We hear other terms like operational resilience, strategic risk management, and more. Risk management strategies (pick your favorite…

It has been stated that: Any intelligent fool can make things bigger, more complex and more violent. It takes a touch of genius – and a lot of courage to move in the opposite direction. E. F. Schumacher Governance, risk management, and compliance (GRC) is as much or more the responsibility of the front-office (1st line…

Over the course of a year, I interact and advise on a lot of GRC related RFPs/RFIs. Some of these are for Enterprise GRC Platforms, most are in specific domains of GRC such as operational risk management, IT risk management, compliance management, audit management and analytics, policy management, third-party management, and more. Something I added…

Organizations are caught in a swirling vortex of uncertainty in risk and compliance as they strive to be bastions of integrity in the center of chaos. In the midst of a global pandemic, economic uncertainty, racial justice tensions, and employee concerns, organizations are trying to hold fast to, as well as enhance, their corporate culture.…

Compliance and ethics are a growing challenge and concern in organizations. Faced with increasing regulatory change, enforcement actions, audits and exams, and liability and exposure, compliance and ethics is in the midst of evolution and maturing. Compliance and ethics is moving from the stigma of being ‘the corporate cop’ to being the bastion of the…

Compliance is Not Easy Organizations across industries have global clients, partners, and business operations. Adding to the complexity of global business, today’s organization is dynamic and constantly changing. New employees come, others leave, roles change. New business partner relationships are established, others terminated. The business enters new markets, opens new facilities, contracts with agents, or…

In this podcast The GRC Pundit of GRC 20/20 Research, LLC interviews Toni Villanen of Majid Al Futtaim to discuss #riskmanagement #ERM #ORM #GRC – where it has been, where it is now, and where it is going.  In this podcast, we discuss the challenges today in risk management, how COVID-19 is changing risk management, and how organizations need to engage…

The COVID-19 pandemic has changed everything. What started as a health and safety risk has had a domino impact of other risks that have resulted in changed business practices, processes, objectives, and expectations. One critical area of impact is the proliferation and support of remote workers. Coming out of the pandemic, it is safe to…

In this podcast The GRC Pundit interviews Ian Hollowbread and Mukund Umalkar of ING to discuss the future of GRC technology and their GRC Orchestrate Project. I have a dream. It is futuristic, but realistic. It involves a Star Trek chair and a bank of monitors. It would involve tracking the global flow of funds…