Your ‘How To’ Guide To Advanced GRC & Cybersecurity Success
Most governance, risk and compliance solutions are defensive – and rightly so. But the benchmark of GRC excellence also includes the ability to be offensive, showing how risks and controls can be optimized to meet strategic objectives, as well as scanning the landscape for both risks and opportunities. If your GRC solution isn’t applying protection and cutting-edge innovation to core processes, you’re missing the (very) big picture.
Every process or functional objective has risks, as well as controls that influence the likelihood of success. But effectively and efficiently running all these processes under the organizational GRC ‘umbrella’ remains an ongoing and expensive challenge. Continual internal and external demands mean organizations struggle to keep pace and control costs. And the global pandemic has made it even more challenging to protect against risks from new business environments, such as remote working and a distributed workforce, putting an even greater strain on cybersecurity defences and GRC controls.
This disruption can affect how organizations apply the updated ‘Three Lines Model’ with more active forms of risk management and governance that go beyond merely defensive moves by the internal audit function.
Some organizations are still using disparate cybersecurity systems at the IT level without integrated solutions at the business application layer, lack real-time overview of all the risks or fail to understand which business objectives are impacted by specific threats.
The reality is new cyberattack models go beyond identity and access. According to the Ponemon Institute, the average time to identify and contain a data breach is 280 days. By playing the long game, cyber criminals understand processes and organizational hierarchy, and lurk in back-up versions, even when systems are restored.
Adding more resources isn’t the answer. Automating resource-intensive tasks and embedding risk and control monitoring requires a comprehensive, integrated platform approach that is well-grounded in the latest evolution of the Three Lines Model and understands modern cybersecurity threats.
By intelligently automating these tasks, organizations can understand where risks reside – be it fraud, supply chain, financial misstatement or the inability to deliver goods and services – and more importantly, understand how to mitigate them. By embedding GRC and cybersecurity disciplines into the digital platform and business processes, organizations not only gain cost control, but also greater effectiveness through management visibility at a high level for key decision makers, as well as day-to-day operational fluency to detect and protect the business.
Through a combination of customer examples, expert presentations and best practice tutorials, our 21st Century GRC & Cybersecurity Excellence Webinar Series, directly addresses these issues. With a total of five webinars, running every Thursday for 45 minutes, we show how to mitigate risk and gain visibility into both existing and future threats.
11 March – “Managing Today’s Top GRC & Cybersecurity Risks”
Integrate operational GRC processes efficiently and effectively for real-time visibility and enterprise risk transformation.
18 March – “Evolution of The IIA Best Practice: Three Lines Model”
Deploy best practice in keeping with the updated Three Lines Model.
25 March – “GRC and Cybersecurity Excellence In Action”
Get peer level advice and insights on the benefits of an integrated approach.
22 April –“Identity and Access Risk Management for A Hybrid Landscape” Optimize digital identity access and governance with reduced cost and improved security.
29 April – “Enhance Your Cyber Defence & Ensure Cloud Data Sovereignty” Secure business applications and critical business processes against cyberattacks and data breaches.
Learn how to reduce risk evaluation timelines, lower costs, consolidate compliance activities, while increasing risk visibility, identifying and monetizing opportunities, and leveraging continuous monitoring for agile, reliable decision-making – even when the business environment changes.
Bring your GRC and cybersecurity solution into the 21st century.
Note: This webcast series is a companion to the Finance and Risk Virtual Summit which runs every Tuesday throughout Feb and March and will expand on the summit topic. If your calendar allows, you may consider joining both.
Chris Johnston is Head of Finance and Risk, SAP EMEA North Customer Solution Advisors.