Strategic Compliance Breakfast Briefing

GRC – Breaking the Silos

Session 3: Bringing it all together – a practical view of implementing a GRC approach

Introducing a Governance, Risk and Compliance approach within an organisation often stumbles around issues of definition, adoption and co-ordination. What’s in-scope? What behavioural changes are needed? Who owns the jigsaw?

In an environment where systemically important financial institutions are ‘too big to fail’, the challenge of getting a grip on implementing an enterprise-wide GRC approach can be too big to succeed. With everything in scope, the initiative risks defeating itself by becoming yet another silo-based activity, or through inconsistent application. Organisations have first to devote time and resource to building a sound GRC foundation in order to support the natural development and deployment of integrated risk and compliance management practices and decision-making.

In this last of our series of three thematic breakfast briefings, we will look at:

• Clarifying and managing the governance structure
• Creating a 'One-Team' business risk and control environment
• Achieving a common approach to risk appetite, identification, management and mitigation
• Targeting compliance resource to where it does the most good

In this session,, Nick Gibson and Professor Tony Blunden, risk and compliance professionals with over 60 years' combined experience (brief resumés can be found here) ), explore the practical issues and roadblocks, and look at the practical building blocks needed to secure a move to a new model based around an effective enterprise-wide GRC management approach.

Aimed at senior professionals involved in governance and in the internal audit, risk management and compliance disciplines within financial institutions, the session will have a clear focus on the practicalities and identify key steps for firms to proceed to the next level.

As space is limited, the briefing is open to senior compliance, business and risk staff working in FSA authorised firms.

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