Building an Electronic Governance System and Risk & Compliance Management (GRC Platform).
Defining Objectives and Scope Scope: Defining the system’s scope, including the specific processes, departments, and regulatory requirements it will cover. Objective: Setting clear goals for the GRC Platform, such as improving risk management, ensuring regulatory compliance, and enhancing governance practices.
Identifying Key Components Governance: Establishing policies, procedures, and controls to ensure effective decision-making and accountability within the organization. Risk Management: Implementing processes to identify, assess, and mitigate risks that may impact the organization’s objectives. Compliance: Ensuring adherence to relevant laws, regulations, and industry standards through systematic monitoring and reporting.
Building the Right Technology Platform: Building a robust GRC platform that provides flexibility, scalability, and integration capabilities. Features: Ensuring the platform includes features such as risk assessment, compliance tracking, audit management, incident management, and reporting dashboards.
