IT Governance, Risk and Compliance

IT Governance Maturity Assessment & Design

Governance, risk and compliance (GRC) refers to a strategy for managing an organization's overall governance, enterprise risk management and compliance with regulations. Think of GRC as a structured approach to aligning IT with business objectives, while effectively managing risk and meeting compliance requirements. GRC is the integrated collection of capabilities that enable an organization to reliably achieve objectives, address uncertainty and act with integrity.

Corporate Compliance & Regulatory 

• Improve board effectiveness

• Set the right tone and make effective decisions

• Assess and implement ethics programs, training, change management, anti-fraud programs and monitoring/reporting

• Strategic risk management:  creating and protecting value from strategic risks

• Design, implement and maintain a common risk infrastructure by leveraging people, process and technology transformation opportunities

• Compliance program design and control testing

• Compliance monitoring, assessment, and effectiveness

• Regulatory consulting

Why CyberSecOp IT Governance, Risk and Compliance

• Resources—required to conduct business, including strategies, policies, standards, procedures, organizational structure, roles and responsibilities, people, processes, technology, information, physical, financial and intellectual assets, and third parties (suppliers, vendors and contract employees).

• Business attributes—the key attributes of a business include:

• Performance, including goals, targets, outcomes, profitability and SLAs, etc.

• Risk, including financial risk, credit risk, market risk, strategy risk, operational risk, fraud risk, reputational risk, information security risk, technology risk and compliance risk, etc.

• Compliance, including regulatory compliance (SOX, PCI/DSS, GDPR CCPA, NYDFS, SHIELD ACT), legal compliance (labor laws), organizational compliance (policies and standards), security (human, physical and information security), quality, ethics and values.

• Governance, management, and operations—governance involves setting directions, optimizing risks and resources, and monitoring performance and compliance to achieve an organization’s objectives. It can be broadly classified into corporate governance, business governance, IT governance and legal governance. Management involves planning, organizing, leading, coordinating, controlling and reporting. Operations includes executing the process and function.

• Controls—in order to realize value from the business, resources should be utilized efficiently and effectively, and business attributes should optimize. This is only possible when appropriate controls are implemented and executed. The controls can be classified as management controls, process controls, technical controls and physical controls. Controls are applied to the resources as well as the attributes.

• Assurance—independent assurance is required to ensure that controls are designed and operating effectively, and compliance requirements are met consistently. It is the responsibility of governance to monitor and obtain assurance. Assurance will be primarily through audits. There are several types of audits. Internal and external audits, certification audits, financial audits, IT audits, compliance audits, process audits and security audits, etc.

Our Governance, Risk and Compliance (GRC) program have decades of experience managing security programs and are ready to help build yours with our Virtual Chief Information Security Officers CISO as a service offering.