Managing GRC under Pressure

Automated third party supplier (and internal) risk management

The greater the amount of data organisations must collect, analyse and submit, the greater the likelihood of errors, mistaken submissions and misunderstanding of reporting obligations.

All of this leads to added pressure.

Falling short of what is required can result in reputational damage, regulatory sanctions and in some cases financial penalties. That’s why we’re helping finance, legal, risk and compliance professionals, and small business owners, better manage the myriad of governance, risk and compliance challenges.

Our GRC portal is helping private and public sector organisations to:

*  Save Time
*  Reduce Errors
*  Manage Risk
*  Stay Compliant

By automating your third party supplier (and internal) risk management process, you can more easily keep up to date, stay compliant, make the right decisions and mitigate risk.

Finance Sector

Financial institutions are confronted by increasing regulations and wider and more intrusive rules. All banks, insurance companies, fund managers and other financial firms are facing tough and challenging times.

The volume and complexity of required reporting is increasing. As a result, resources are being stretched to collect, analyse and report on third party (supplier) and internal risk.

This is where straightforward automation of the third party Risk Management process can make an immediate impact. With no lengthy development and implementation times, our GRC portal can be up and running (and making a difference) in just a few days.

Legal Firms

Compliance officers for legal practice (COLPs) are responsible for ensuring a firm has the systems and controls in place to enable the firm, its managers and employees, comply with the SRA Handbook.

This includes maintaining the firms’s Risk Register.

Effective risk management helps legal firm formulate and implement appropriate procedures and policies to identify, mitigate and manage risk.

Our GRC Portal contains survey templates to help you to manage third party (supplier) and internal risk without resorting to unwieldy spreadsheets, word templates and manual analysis and reporting.

The standard survey templates and reports mean you can seamlessly manage a centralised, automated Risk Register, with full data insight and control.

Local Authorities

Delivering savings and cutting back services grab the headlines, however the flipside of the sector’s response to government funding reductions and demand pressures on service provision is innovation. This includes identifying new income generation opportunities and implementing new ways of working, including the introduction of alternative service delivery models (ADMs).

The 2015 Grant Thornton Report found that “As local authorities increasingly outsource services in order to make savings and encourage innovative delivery, they also need to scrutinise the governance of these arrangements more closely”.

The report also recommends that local authorities establish joint risk registers for the main ADMs.

Our GRC portal can help stop this process becoming an ardous spreadsheet based exercise, providing centralised, automated control and reporting.

Call 01256 379970 for more information
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