Why Does A GRC Program Matter?
If you have a GRC Solution, you need to have a GRC Program. Here's a preview of our methodology:
Strategy
Strategic Planning: A program strategy outlines the business objectives expected to be achieved and the key deliverables necessary to accomplish those objectives.
Roadmap Management: A roadmap consists of the key deliverables defined in the strategy such as projects, tasks, and milestones. The development and management of a roadmap is a necessity to the successful implementation of a strategy for a GRC Program.
Program Maturity: The consistent measurement and / or benchmarking of GRC Program Maturity is an important component of the Strategy Pillar in Verterim’s GRC Program Model. Measurement and management of GRC Program maturity gives a corporation the ability to define progress made on GRC Program goals, understand the relative comparison or benchmark against peers in the industry, and clearly demonstrate program benefits to key stakeholders.
Continuous Improvement: For a GRC Program to adapt to the needs of the stakeholders and business users, a continuous improvement program is needed. It is a best practice to implement a Continuous Improvement Methodology where GRC users, stakeholders and owners can recommend changes as needed and in between Roadmap reviews.
Governance
Program Governance: Core objectives include defining a Governance Model to steer the direction and provide oversight to the GRC program, the GRC Tool, the execution of the GRC Program Strategy, and to manage GRC Program budget and funding.
Business Function Readiness: Definition and development of ownership roles and responsibilities of the GRC Tool, including data and applications, is core to the success of the GRC Program.
Governing Bodies Compliance: Adhering to the demands of external regulatory authorities is part of every industry, organization, and function. The GRC Program and Tool must facilitate these needs.
Emerging Needs: As business processes, products and services change across business functions, so do the needs for the GRC Tool and GRC Program. These changing business needs, and the process for capturing them, will be inputs to the Roadmap and budget planning for the GRC Program.
Program Management
Program Reporting: Business users, stakeholders and executives rely on reports, data and metrics to manage their program and processes. As well, the GRC Program should use reports and metrics to show the value of program to the Enterprise. Verterim recommends a 3-layered reporting approach for each use case.
Communications: A successful GRC Program includes the implementation of consistent communications to different users, stakeholders and participants.
Training: An effective Training Plan for GRC Tool Administrators and Business Users is vital to a successful implementation of a GRC Program. Ensure that all parties users will successfully manage their component of the GRC Program, maintain associated data and processes, and smoothly navigate within the system.
Budgeting & Forecasting: Accounting for the current and future expense of the People, Processes and Technologies that support the GRC Program is key for program growth and continuity.
Operational Support
Demand / Change Management: A critical success factor for the GRC Program is to implement a change management process which includes giving users the ability to submit process and tool enhancements, requests for new functionality and user access requests.
Production Support: Defining a manageable Production Support process is a critical success factor for the ongoing support and maintenance of the GRC Tool.
Release Management: Develop a consistent and accountable release process that considers regular release schedules, upgrades and patches, lessons learned and checklists.
GRC Tool Support Liaison: Ensure efficient interaction between business users, GRC team members, and IT resources.
Implementation
GRC Platform: Selecting a right-sized GRC Tool and the appropriate license entitlements and use cases is paramount.
This process might include a series of interviews, demonstrations, requirements analysis, thoughtful consideration of the current and desired state of the GRC Program and GRC Program Model, and other factors.
Please refer to What We Do, Education, Free Maturity Assessments, and Partners for additional resources.
GRC Program Maturity Assessment
Discover your program's potential with a GRC Program Maturity Assessment and embark on the exciting journey of building or expanding your program. Determine your starting point and take that crucial first step towards success!
Is Your GRC Program Model Fully Defined?
Our experienced Strategic Advisory Consultants are expert GRC practitioners who have been the customer and know how to excel past common program challenges. Here's what happens when you ask how we can help: