The term ‘GRC’ emerged in the early 2000s, as a string of corporate financial disasters left major corporations struggling to improve their internal control and governance processes. Today, the GRC market is divided into enterprise GRC and IT GRC; the first covers the whole organisation, whereas the latter is focused on the IT-specific content.
But what is it exactly, what makes it so important and what can you gain from it?
Overall and very simplified, it’s the strategy for keeping your organisation on track through your IT operations. Unfortunately, it’s not that simple, and in reality, it’s about how your company aligns IT with business objectives, how you address uncertainty and how you make certain that you act with integrity in all your activities and comply with regulations.
Governance: is ensuring that your IT activities are aligned with your business goals, and how these are established and executed by management. As organisations are today subject to an increasing amount of regulations regarding data security, IT governance will ensure that your organisation has a framework for best practices.
Risk: is identifying and addressing any risk associated with your organisational activities, which may hinder you from achieving your business goals. In today’s world, this is particularly important in regard to IT security. In fact, IT GRC ensures that cyber risk is being considered in relation to financial risk, rather than it being siloed away.
Compliance: is ensuring that organisational activities meet any relevant laws and regulations, as well as any internal policies and procedures. For example, making sure that your IT systems and any data they contain are used and secured properly.
Prior to reading this, you may probably already have some idea of what GRC is and how your organisation does it. However, it might be difficult to understand how it will be beneficial to have an effective IT GRC programme. Apart from the more tangible benefits, such as saving money by avoiding non-compliance fines and increasing efficiency by having a standardised system, there are some more intangible ways in which your business will benefit.
However, as with all change, how it is implemented is paramount to the success of your organisation’s new IT GRC programme. At Hays we’re experts at helping organisations support important changes through the right people. We can help you find the right digital leader to drive the change and IT employees to implement the framework.
I am an associate recruitment consultant at Hays Specialist Recruitment, where I have specialised in the IT industry. If you want to know more about how I can help you with your recruitment needs, please write me at: firstname.lastname@example.org or fill out this formula, and I will contact you as soon as possible.