Dubal’s Approach to Risk Management

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Exponential growth and change in risks, regulations, globalization, distributed operations, processes, competitive velocity, business relationships, technologies, and business data encumbers organizations of all sizes. Organizations are hindered when aspects of risk are managed in disconnected silos that do not share information and collaborate. Integrated and sustainable risk management improves risk maturity and strengthens decision-making.  This cannot be accomplished in silos, but requires a federated approach to risk management supported by a foundational risk information and technology architecture.  Dubai Aluminium (DUBAL) was challenged in getting a consistent view of risks across the enterprise with standard definitions, language, and framework.   To address the challenge of herding the silos of risk, DUBAL established a structured and systemic approach to risk management by implementing a new Enterprise Risk Management (ERM) framework. To enable this ERM strategy, DUBAL implemented the MetricStream ERM Solution. GRC 20/20 has evaluated and verified the implementation of MetricStream at DUBAL and confirms that this implementation has achieved measurable value across the elements of GRC efficiency, effectiveness, and agility. In this context, GRC 20/20 has recognized MetricStream and DUBAL with a 2014 GRC Value Award in the domain of Risk Management.

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Description

Dubal’s Approach to Risk Management

How DUBAL Enabled a Risk Management Architecture for ERM and Beyond

Exponential growth and change in risks, regulations, globalization, distributed operations, processes, competitive velocity, business relationships, technologies, and business data encumbers organizations of all sizes. Organizations are hindered when aspects of risk are managed in disconnected silos that do not share information and collaborate. Integrated and sustainable risk management improves risk maturity and strengthens decision-making.  This cannot be accomplished in silos, but requires a federated approach to risk management supported by a foundational risk information and technology architecture.  Dubai Aluminium (DUBAL) was challenged in getting a consistent view of risks across the enterprise with standard definitions, language, and framework.   To address the challenge of herding the silos of risk, DUBAL established a structured and systemic approach to risk management by implementing a new Enterprise Risk Management (ERM) framework. To enable this ERM strategy, DUBAL implemented the MetricStream ERM Solution. GRC 20/20 has evaluated and verified the implementation of MetricStream at DUBAL and confirms that this implementation has achieved measurable value across the elements of GRC efficiency, effectiveness, and agility. In this context, GRC 20/20 has recognized MetricStream and DUBAL with a 2014 GRC Value Award in the domain of Risk Management.

  1. Growing Risk & Regulatory Exposure in Third Party Relationships
    • Inevitable Failure of Silos of Third Party Governance
  2. Adobe: Value Achieved in Third Party Management
    • The Challenge Adobe Faced
    • Solution to Adobe’s Problem
    • Adobe Achieved Value in GRC Efficiency, Effectiveness, and Agility
      • GRC Efficiency Value
      • GRC Effectiveness Value
      • GRC Agility Value
  3. GRC 20/20’s Final Perspective
  4. About GRC 20/20 Research, LLC
  5. Research Methodology

rasmussenMichael Rasmussen – The GRC Pundit @ GRC 20/20 Research, Michael Rasmussen is an internationally recognized pundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of GRC strategy, process, information, and technology architectures and solutions. With 23+ years of experience, Michael helps organizations improve GRC processes, design and implement GRC architectures, and select solutions that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor and is noted as the “Father of GRC” — being the first to define and model the GRC market in February 2002 while at Forrester Research, Inc.


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