Description
Policies, The Last Mile of Risk Management
The Relationship Between Risk and Policies
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Keeping complexity and change in sync is a significant challenge for boards, executives, as well as governance, risk management and compliance (GRC) professionals throughout the business. Organizations are hindered when aspects of GRC are managed in disconnected silos that do not share information and collaborate. To effectively manage risk requires that the organization have a thorough context of risk relationships to other aspects of GRC such as policies, controls and events. Risk management activities managed separately from corporate policies leads to inevitable failure. Without a policy, risk taking is up to individuals and the integrity of the organization is in jeopardy. Policies are risk documents that expressly state expectations and boundaries. Think of policy management as the last mile of risk management. If risk management is not part of policy management an organization would spend time and resources on conducting risk assessments that have no impact or change on the business.
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Michael 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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