Untitled Document
Information technology projects, priorities and processes are increasingly
driven by governance, risk management, and compliance (GRC) considerations.
But for many companies, there is a great deal of confusion and uncertainty about
how to proceed with GRC implementation, or how to align GRC initiatives with
general IT or business requirements.
The reason: IT strategies, architecture decisions, and applications have not
approached GRC considerations in a comprehensive and integrated manner. Instead,
companies have typically dealt with GRC needs in fragmented fashion. Moreover,
in many cases there has been limited attention to automating controls and enabling
the information requirements necessary to improve the efficiency and effectiveness
of GRC processes and programs. In effect, many companies deal with GRC on a
case-by-case basis instead of through an integrated, comprehensive and forward-looking
program.
Real success with governance, risk management and compliance comes from being
able to view these issues holistically -- with an eye toward not only addressing
specific compliance or governance issues, but in building an integrated platform
(or at least an integrated framework) where governance, risk management and
compliance information can serve to provide value to an organization by ensuring
that its business practices are consistent with business and regulatory objectives.
Regardless of whether you're just wondering how IT can help to make an organization's
governance, risk management and compliance practices better, or if you're simply
interested in understanding the impact that GRC issues can have on IT and IT
strategy, it is necessary to begin with a basic strategy for implementing (and
refining) GRC practices within your organization.
A good place to start is by following these four steps to align your IT assets
with your governance, risk management, and compliance initiatives.
Step 1 - IT Principles & Strategy
Start by getting GRC practitioners at the table with IT professionals to discuss
how IT can support GRC needs, including:
a. Information needs
b. Process / transaction needs
c. Control / monitoring needs
d. Documentation / system of record needs
-1-