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Latest Pontifications & Thoughts . . .
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How to Purchase Policy & Training Management Platforms
Organizations often lack a coordinated enterprise strategy for policy development, maintenance, communication, attestation, and training. An ad hoc approach to policy management exposes the organization to significant liability. This liability is intensified by the fact that today’s compliance programs affect every person involved with supporting the business, including internal employees and third parties. To defend…
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GRC Critical Capabilities and Purchasing Considerations
There is a broad array of governance, risk management, and compliance (GRC) related solutions available in the market. In fact, GRC 20/20 has catalogued and mapped over 800 technology solutions and over 300 content/intelligence solutions that organizations use to improve GRC processes in an effort to make them more efficient, effective, and agile. Navigating this array…
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Components for Developing an ERM Strategy
The physicist, Fritjof Capra, made an insightful observation on living organisms and ecosystems that also rings true when applied to risk management: “The more we study the major problems of our time, the more we come to realize that they cannot be understood in isolation. They are systemic problems, which means that they are interconnected…
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Technology Priorities for Compliance & Ethics
Past compliance processes were bogged down in documents and technology silos, which led to laborious and costly processes to gather information and report on compliance risk. Compliance departments over-relied on spreadsheets, documents, and email that lacked an audit trail, creating a legal disaster since organizations lack a defensible position when it cannot prove compliance with…
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What Effective Risk Management Looks Like
This is Part Two of a four-part blog series on ERM . . . To maintain the integrity of the organization and execute on strategy, the organization has to be able to see their individual risk (the tree) as well as the interconnectedness of risk (the forest). Risk management in business is non-linear. It is…
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Why Enterprise Risk Management (ERM) is Critical to Modern Business
Organizations take risks all the time but fail to monitor and manage risk effectively for the enterprise. A cavalier approach to risk-taking results in disaster, providing case studies for future generations on how poor risk management leads to the demise of corporations — even those with strong brands. Gone are the years of simplicity in…
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Compliance in Dynamic and Distributed Business
The hot topic for 2018 is certainly compliance. Compliance is more than adherence to laws and regulations, it is about the integrity of the organization to it’s ethics, values, social responsibility, policies, commitments, contracts, and controls. I have been stating for over a decade that the best executive title for a compliance executive is a…
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Addressing the Challenges of Third Party Management/GRC
The governance, risk management, and compliance (GRC) across third party relationships (e.g., vendors, suppliers, contractors, agents) is a significant challenge for organizations. Organizations today are not defined by brick and mortar walls or traditional employees. The modern organization is a complex web of nested business relationships and transactions. GRC 20/20, in our research, is interacting…
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Case Management: Benefits of Case Management Software
Over the past several weeks, I have been exploring the challenges and strategic approaches and processes for issue reporting and case management. Previous posts include: Challenges in Issue Reporting & Case Management Components of an Effective Incident/Case Management Process With processes defined and structured the organization can now define the information architecture needed to support…
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Governance, Risk Management and Compliance of Third Party Relationships
One of the greatest challenges upon organizations today is governing third party relationships, particularly the risk and compliance aspects of these relationships. Organizations today are dynamic, distributed, and face constant disruption and this is exponentially impacted by the number and variety of third party relationships in an organization. Consider that over half of many organizations…
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GRC Innovation, Simplicity & Directions
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.[1] A primary directive of GRC 4.0 is to provide GRC processes and information that is innovative, contextually intelligent, assessable, an…
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GRC 4.0 – the Next Generation of Cognitive GRC Technology
For those that follow my research, governance, risk management, and compliance (GRC) is something every organization does though not every organization does well. Every organization has some approach to GRC whether they call it GRC or something else. Many do not have a name for it. It can be an unstructured, reactive, non-integrated, fire fighting…